China has launched military drills near Taiwan in response to a visit to the self-ruled island by U.S. House Speaker Nancy Pelosi. Here: a large screen in Beijing shows a news broadcast about China...
Tag: international relations
How Private equity Won Its Battle Over Carried Interest.
The carried-interest loophole will live to fight another day, a sign that Wall Street’s lobbying prowess remains largely intact in Washington. Sen. Kyrsten Sinema (D-Ariz), the last Democratic holdout...
Got Hidden Income? The IRS May Get More Money to Find You
If Congress passes the Inflation Reduction Act, Americans should expect more IRS audits—especially on filers making more than $400,000 a year. The surprise agreement between Sens. Chuck Schumer (D., N...
‘We expect it to be removed’: Democrats’ push to close ‘carried interest loophole’ in jeopardy as Sinema seeks to block effort
Sen. Kyrsten Sinema has signaled her opposition to closing a controversial tax loophole that allows carried interest to be taxed as capital gains instead of income, according to multiple reports. As a...
Cost of Democrats’ Corporate-Tax Increase Skews to Wealthy, Reaches Middle Class
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IRS Changes Guidelines for Inherited IRAs, Causing Confusion and Pushback
Figuring out the most efficient way to navigate the tax impact of inheriting individual retirement accounts has become more complicated since the Internal Revenue Service issued proposed new rules in ...
Big Oil Could Pay Up to $25 Billion in New Taxes Under Dems’ Inflation Bill
Text size An oil pumpjack Spencer Platt/Getty Images Oil stocks were poised to open lower Monday as investors reacted to the news that the Democrats’ climate change measure could cost oil companies, b...
What possible credit-card legislation could mean for Visa, Mastercard — and you
Credit-card companies look to be under a political microscope once again as senators announced a new bill that would target Visa Inc. and Mastercard Inc. Sen. Dick Durbin, an Illinois Democrat, and Se...
Intel Shows Limits of Chips Act
There is a rich irony to the notion that U.S. lawmakers rescued a giant subsidy package for the semiconductor industry just as the country’s largest chip maker proved the limits of such measures. On T...
Senate Climate Bill Is a Boon for Fossil Fuels
WASHINGTON—Senate Democrats are moving forward on the costliest and most ambitious effort ever by the U.S. to address climate change—powered in part by benefits for fossil fuels and the broader energy...
Senate Reconciliation Bill Would Close Carried Interest Loophole. What It Means for Private Equity.
Text size Sen. Joe Manchin wants to eliminate a provision giving favorable tax treatment to the private-equity industry. Alex Wong/Getty Images In a surprise, Senate Democrats reached a deal on a bill...
Here’s what’s in, and out, of Democrats’ $739 billion inflation-fighting package
WASHINGTON — What started as a $4 trillion effort during President Joe Biden’s first months in office to rebuild America’s public infrastructure and family support systems has ended up a much slimmer,...
Alibaba Plans to Move Its Stock to Hong Kong. Others Will Follow.
Text size Alibaba says it has filed to change its primary stock listing to Hong Kong rather than the U.S. AFP via Getty Images Alibaba Group Holding on Tuesday said it has filed to change its primary ...
WWE finds $14.6 million in ‘unrecorded expenses’ made by Vince McMahon
World Wrestling Entertainment Inc. disclosed Monday that it will restate financial statements back to 2019 after uncovering $14.6 million in “unrecorded expenses” paid out by former long-time Chief Ex...
Users of payment services like Zelle need better scam protection, Dems tell CFPB
It should be easier for consumers defrauded via popular instant payment services like Zelle to seek redress, since money-transfer scams are reportedly growing more common, a group of Democratic lawmak...
Chip stocks rally despite an ominous forecast, as U.S. semiconductor funding bill advances in Senate
Chip stocks rallied to finish higher Wednesday after the Senate moved closer to greenlighting more than $50 billion in funds for U.S.-based chip manufacturing, even as one chip-equipment maker gave an...
What a Netflix crackdown on password sharing could look like
Netflix Inc. has vowed to clamp down on password sharing as it looks to improve its financial fortunes, and the company just shared more details about how it will do that. The company plans to make cu...
Senate Votes on Chips Act Today. What It Means for Intel and Other Stocks.
Text size The Senate votes Tuesday on a bill that would authorize more than $50 billion in subsidies and tax credits for U.S. chip makers. Tim Herman/Intel Corporation Semiconductor stocks rose Tuesda...
All Jobs Businesses Cut in Pandemic Are Back, but Not Where They Were Lost
Private-sector payrolls exceeded prepandemic levels in June, taking just over two years to close a 21 million job gap that was created in the spring of 2020 and reshaping the labor market in the proce...
Chip Investment Decisions Await Congressional Action on $52 Billion Funding Bill
Political wrangling in Congress over government funding for the semiconductor industry is leaving tens of billions of dollars of potential factory projects hanging in limbo and could dent the ambition...
EU Shipowners Race to Move Russian Oil Before Sanctions Kick In
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Why Biden’s visit to Saudi Arabia is unlikely to contribute much to oil’s price decline
President Joe Biden is in the Middle East late this week and the pressure is on for the U.S. to look to Saudi Arabia, the world’s largest oil exporter, for more barrels of oil. Limits to oil productio...
Far from Putin’s claims of resilience, Russian economy is being hammered by sanctions and exodus of international companies, Yale report finds
Media reports trumpeting the resilience of the Russian economy in the face of the international response to its invasion of neighboring Ukraine are based on misunderstandings that don’t reflect what’s...