US President Joe Biden speaks about strengthening US ports and supply chains after the International Longshore and Warehouse Union and the Pacific Maritime Association finalized a new contract covering west coast ports, in the State Dining Room of the White House in Washington, DC, on September 6, 2023.Jim Watson | Afp | Getty ImagesPresident Joe Biden is flaunting his investments in Black- and Latino-owned small businesses as the Latino vote slips from his grasp heading into the 2024 election year.The president on Wednesday highlighted the parts of his Investing in America agenda aimed at supporting small businesses at Wisconsin’s Black…
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Former U.S. President Donald Trump delivers remarks during an event following his arraignment on classified document charges, at Trump National Golf Club in Bedminster, New Jersey, on June 13, 2023.Amr Alfiky | ReutersSpecial counsel Jack Smith on Monday urged a federal appeals court to reverse a lower court’s decision to dismiss the criminal case charging former President Donald Trump with mishandling classified documents.U.S. District Judge Aileen Cannon in a stunning move in mid-July threw out that case on the grounds that Smith’s appointment violated the U.S. Constitution.Smith in Monday’s court brief argued that Cannon’s ruling strayed from binding legal precedent,…
Mike Lynch, 59, is the founder of enterprise software firm Autonomy. He was acquitted of fraud charges in June after defending himself in a trial over allegations that he artificially inflated Autonomy’s value in an $11.7 billion sale to tech giant Hewlett Packard.Chris Ratcliffe | Bloomberg | Getty ImagesLONDON — British technology entrepreneur Mike Lynch has been found dead in the wreckage of his superyacht, which sank off the coast of Sicily earlier this week. He was 59 years old.Just two months ago, Lynch won a stunning victory in a landmark U.S. trial over allegations from Hewlett Packard that he…
An Alaska Airlines Boeing 737-900ER aircraft on the tarmac at Seattle-Tacoma International Airport (SEA) in Seattle, Washington, US, on Monday, Jan. 22, 2024. David Ryder | Bloomberg | Getty ImagesAlaska Airlines flight attendants rejected a new labor deal that would have come with immediate raises averaging more than 24%, their union said Wednesday, setting both sides up for more talks as a merger with Hawaiian Airlines looms.The union and the company had reached a tentative “record” agreement in June, which included boarding pay, as well as back pay, on top of average pay increases of about 32% over the three-year deal,…
China Coast Guard ships (background L and R) are seen past the Philippine Coast Guard ship BRP Cape Engano (C), as photographed from the BRP Cabra during a supply mission to Sabina Shoal in disputed waters of the South China Sea on Aug. 26, 2024.Jam Sta Rosajam Sta Rosa | AFP | Getty ImagesChina and the Philippines accused each other of ramming their ships in a disputed area of the South China Sea on Saturday, the latest in an escalating series of clashes in the vital waterway.China’s coast guard said a Philippine ship, “illegally stranded” at the Sabina Shoal, had…
He Xiaopeng, founder of Chinese EV company Xpeng, said on Aug. 27 that the startup’s next ten years will focus on integrating artificial intelligence.CNBC | Evelyn ChengBEIJING — Xpeng shares rose after the Chinese electric car company launched its new mass-market Mona brand on Tuesday with prices starting as low as $16,812, far below that of Tesla’s Model 3.The Chinese automaker said orders for the Mona M03 electric coupe exceeded 10,000 just 52 minutes after the car’s formal launch in Beijing.Xpeng’s U.S.-listed shares closed up 6.5% in New York trading on Tuesday, while its Hong Kong-traded shares rose nearly 2%…
Nordstrom on Tuesday posted earnings that blew past Wall Street’s expectations, indicating the department store is making strides in its efforts to cut costs and boost efficiencies. Though the Seattle-based retailer posted earnings per share that were 25 cents higher than expected, it issued tepid guidance for the full year. Nordstrom now expects adjusted earnings per share to be between $1.75 and $2.05, compared to a previous range of $1.65 to $2.05. It anticipates sales will be in a range of a 1% decline to 1% growth from the prior year, compared to previous guidance of down 2% to up 1%. In a…
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 28, 2024. Brendan McDermid | ReutersStocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox.Here’s what CNBC TV’s producers were watching as a decline in Nvidia shares weighed on the S&P 500 Wednesday and what’s on the radar for Thursday’s session.Three big tech stocks to watch Thursday morningNvidia is down about 7% after hours after reporting its quarterly report. CNBC TV’s man…
‘Fast Money’ trader Katie Stockton talks investing in agriculture, trading on volatility and more. Source link
IRS Commissioner Daniel Werfel testifies before the House Small Business Committee on July 17, 2013.James Lawler Duggan | ReutersThe IRS has unveiled a “voluntary disclosure program” for businesses that claimed a pandemic-era tax credit in error and want to pay the money back.Worth thousands per employee, the employee retention tax credit, or ERC, was designed to support small businesses affected by the Covid-19 pandemic. The lucrative tax break sparked a cottage industry of firms pushing employers to wrongly claim the credit. The IRS unveiled a “special withdrawal process” for companies with pending claims in September. The new voluntary disclosure program offers applicants…
