Bloomberg One way the rich get richer is through inheritance, and they’re barely paying taxes on it. Americans are projected to inherit $764 billion this year and will pay an average tax of just 2.1% on that income, New York University law professor Lily Batchelder estimates in a paper published on Tuesday by the Brookings Institution. By contrast, the estimated ...

Bloomberg General Motors Co affirmed plans to build electric pickups and SUVs at its Detroit-Hamtramck plant and scheduled the start of production for late next year. Output of electric Cruise Origin driverless vehicles will follow soon after the initial pickups roll off the line, GM said in a statement . The automaker committed to investing $2.2 billion in the factory ...

Bloomberg Germany’s government sees economic growth of 1.1% this year, up from a previous projection of 1%, according to a person with direct knowledge of the matter. Europe’s largest economy expanded 0.6% in 2019, its slowest growth in six years, amid global trade tensions that weighed on its export-heavy economy. The government’s first major assessment of the economic situation this ...