Internal Revenue Commissioner Danny Werfel speaks during his swearing-in ceremony at the IRS in Washington, D.C., on April 4, 2023.Bonnie Cash | Getty Images News | Getty ImagesThe 2025 tax season kicks off on Jan. 27, and more taxpayers will have access to Direct File, the IRS’ free tax filing program, which launched in 2024.Starting on Jan. 27, Direct File will be open to eligible taxpayers in 25 states, including 12 states from the 2024 pilot and 13 new states, the agency announced Friday. The U.S. Department of the Treasury estimates that more than 30 million taxpayers across those 25 states…
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Anadolu | Anadolu | Getty ImagesBritain’s competition watchdog on Tuesday said that it’s opening a formal antitrust investigation into Google’s search and search advertising services.The Competition and Markets Authority said that it’s looking to assess whether Google has “strategic market status” (SMS) under the new U.K. Digital Markets, Competition and Consumers Act (DMCC).The DMCC is a law that aims to prevent anti-competitive behavior in digital markets. Designation of a company as having “SMS” would give the regulator the power to impose changes to prevent anti-competitive behavior.This is a breaking news story. Please refresh for updates. Source link
Hours after a deadly knife attack in the northern English town of Southport last July, Andrew McIntyre set up a Telegram channel called “Southport Wake Up.” Amid posts riddled with anti-Islamic, antisemitic and anti-immigrant abuse, he urged people to take to the streets, directing them to a mosque and calling for “war.”Mr. McIntyre, 39, who took part in two of several riots that rattled Britain last summer, was sentenced to seven years in prison last Monday.He pleaded guilty to encouraging violent disorder and criminal damage, and to possession of a knife. A day after his conviction, Elon Musk, the billionaire…
On the way out the door, the Biden administration on Monday issued its widest-ranging rules yet on artificial intelligence chip exports, sending shares of Nvidia lower. The news The Commerce Department proposed more expansive restrictions on chip exports that it argues are necessary for national security because they will make it harder for China and other U.S. adversaries to gain access to the most advanced AI computing technology. Shares of Nvidia, the dominant maker of AI chips known as graphics processing units, or GPUs, fell roughly 2.5% on Monday as investors grappled with the potential implications for the Club name’s…
The Eccles Building, location of the Board of Governors of the Federal Reserve System and of the Federal Open Market Committee.Brooks Kraft | Getty ImagesA sell-off in global bond markets is accelerating, fueling concerns over government finances and raising the specter of higher borrowing costs for consumers and businesses around the world.Bond yields have mostly been rising globally with the U.S. 10-year Treasury yield touching a fresh 14-month high of 4.799% on Monday, as investors reassess the pace at which the Federal Reserve might lower interest rates.In the UK, the 30-year gilt yields are hovering at their highest level since 1998,…
Tech stocks reigned supreme in 2024, with many investors favoring some of the so-called “Magnificent Seven” stocks of Alphabet , Amazon , Apple , Meta Platforms , Microsoft , Nvidia and Tesla , as well as other lesser-known companies. Principal Asset Management’s Martin Frandsen continues to see potential in the Magnificent Seven this year, but also sees value in other stocks within the sector. “There are several reasons to be optimistic for global tech stocks this year, as the combination of a benign economic outlook and continued strong innovation provide strong opportunities for tech companies globally,” the global equities portfolio…
While many of Mr. Musk’s posts, particularly those on grooming gangs, originated in the ecosystem of far-right bloggers and activists, they are also tempting to mainstream politicians in search of a cudgel to use against their opponents. And they appeal to editors and broadcasters looking for a good story.“The British press and the broadcasters, to a degree, fell all over themselves to give Elon Musk publicity,” said David Yelland, a former editor of Rupert Murdoch’s tabloid, The Sun. “In the print press, they did it because they are extremely hostile to Keir Starmer. This is plain old Fleet Street bias.”Claire…
Nora Carol Photography | Moment | Getty ImagesThe recent strengthening of the greenback could both benefit and hurt Europe, analysts say, with market watchers anticipating further weakening of the bloc’s major currencies in 2025 as President-elect Donald Trump takes office in the U.S. and economic uncertainty persists.The U.S. dollar index — which measures the greenback against a basket of rivals — hit its highest level in more than two years on Monday, following a hotter-than-expected jobs report out of the United States last week.By 6:29 a.m. London time on Tuesday, the dollar index was down 0.3% to trade at 109.59. A day…
Special Counsel Jack Smith makes a statement to reporters about the 37 federal charges returned by a grand jury in an indictment of former U.S. President Donald Trump on charges of unauthorized retention of classified documents and conspiracy to obstruct justice as Smith speaks at his offices in Washington, U.S. June 9, 2023. Jonathan Ernst | ReutersThe U.S. Justice Department on Tuesday released Special Counsel Jack Smith’s report on Donald Trump’s attempts to overturn the 2020 election, the last act of a prosecutor whose historic criminal cases were thwarted by Trump’s November election victory.The report is expected to detail Smith’s decision to bring a four-count indictment against Trump accusing the Republican president-elect of…
The outlook for equity markets looks uncertain this year, given higher-for-longer interest rates , rising inflation and U.S. President-elect Donald Trump’s return to office. As investors ponder how — and where — to invest, CNBC’s Tanvir Gill will quiz portfolio manager Knut Gezelius on where he sees opportunities in the current market. Pro subscribers can submit questions here. Gezelius is a lead portfolio manager at Skagen Global, managing $3.6 billion euros ($3.7 billion) in assets under the Skagen Global A fund . Launched in 1997, the fund seeks to identify undervalued companies with attractive risk-reward for long-term investors. The value…
