Listen to article (2 minutes) The engine of the U.S. economy—consumer spending—is starting to sputter. Retail purchases have fallen in three of the past four months. Spending on services, including re...
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Amazon, Berkshire Hathaway Could Be Among Top Payers of New Minimum Tax
Listen to article (2 minutes) WASHINGTON—A handful of large companies, such as Berkshire Hathaway and Amazon.com could bear most of the burden from a 15% corporate minimum tax President Biden signed i...
MicroStrategy’s Michael Saylor Sued for Alleged Tax Fraud in Washington, D.C.
By Vicky Ge Huang and Richard Rubin Aug. 31, 2022 6:17 pm ET Listen to article (2 minutes) The District of Columbia attorney general sued Michael Saylor, the founder and chairman of software intellige...
IRS, Lawmakers Seek Review of Comey, McCabe Audits
WASHINGTON—The Internal Revenue Service and members of Congress have asked the agency’s inspector general to investigate the circumstances surrounding intensive audits of James Comey and Andrew McCabe...
Ken Griffin Moving Citadel From Chicago to Miami Following Crime Complaints
Billionaire Ken Griffin is relocating his hedge-fund firm Citadel from Chicago to Miami, the third major employer to announce the move of a corporate headquarters from Illinois in the past two months....
A Crypto Bankruptcy Could Be Investors’ Nightmare
The cryptocurrency market’s latest swoon is giving investors a painful lesson about the risks of trading digital tokens through intermediaries. In a bankruptcy restructuring, crypto investors would be...
China’s Slowdown Could Tamp Down Global Inflation
China’s slowdown may have a silver lining for the rest of the world: weaker inflation. Growth in the world’s second-largest economy has tumbled this year as Covid-19 outbreaks triggered mass lockdowns...