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☆ Ryan O'Neal, famous for his role in 'Paper Moon' alongside his daughter, dead at 82, son says.
▼ + stars: | 2023-12-08 | by ( Associated Press | ) www.businessinsider.com time to read: +8 min

Ryan O'Neal was diagnosed with prostate cancer in 2012, a decade after he was first diagnosed with chronic leukemia. Advertisement"My father, Ryan O'Neal, has always been my hero," Patrick O'Neal wrote, adding, "He is a Hollywood legend. His real-life daughter, Tatum, played a trash-talking, cigarette-smoking orphan who needs his help — and eventually helps redeem him. Ryan O'Neal pleaded guilty to the charge and entered a drug diversion program, but he publicly denied the drugs were his. Charles Patrick Ryan O'Neal was born on April 20, 1941 and was the son of screenwriter Charles O'Neal and actor Patricia Callaghan O'Neal.

Persons: —, Ryan O'Neal, Oscar, Tatum, Patrick O'Neal, O'Neal, Peter Bogdanovich, Stanley Kubrick, Barry Lyndon, Farrah Fawcett, Fawcett, Redmond, Joanna Moore, Griffin O'Neal, Tatum O'Neal, Patrick, Leigh Taylor, Young, Ali MacGraw, Griffin, Peyton, Mia Farrow, Bogdanovich, Barbra Streisand, Shirley Temple, O'Neal's, perfectionism, Oliver Barrett, John McEnroe, Drew Barrymore, Gian, Carlo Coppola, Francis Ford Coppola, negligently, Redmond O'Neal, Charles Patrick Ryan O'Neal, Charles O'Neal, Patricia Callaghan O'Neal Organizations: Service, Business, Paramount Pictures, Hollywood Locations: Los Angeles, Europe, Bogdanovich's, Maryland

WASHINGTON (AP) — The Supreme Court is taking up a case Tuesday over a Washington couple's $15,000 tax bill that is widely seen as a test of a never-enacted tax on wealth. Political Cartoons View All 1277 ImagesThe Moores paid $15,000 in taxes based on Charles Moore’s investment in an Indian company. They argue that the tax violates the 16th Amendment, which allows the federal government to impose an income tax on Americans. “The Moore case could make it impossible to close those loopholes,” Wyden said. Public documents show that Charles Moore's involvement with the company, including serving as a director for five years, is far more extensive than court filings indicate.

Persons: Charles, Kathleen Moore, Paul Ryan, Donald Trump, ”, Moores, Charles Moore’s, Moore, Democratic Sen, Ron Wyden, “, ” Wyden, Charles Moore's, Samuel Alito, David Rivkin, Alito, Rivkin, Fatima Hussein Organizations: WASHINGTON, Washington, Wisconsin Republican, Republican, U.S . Chamber of Commerce, Democratic, Oregon, Moores, ___ Associated Locations: Redmond , Washington, Indian, ___

U.S. Supreme Court Associate Justice Samuel A. Alito Jr. poses during a group portrait at the Supreme Court in Washington, U.S., October 7, 2022. Such a ruling also could frustrate policies favored by some Democrats, including Senator Elizabeth Warren, for a tax on the net worth - meaning all assets and not just income - of the super-rich. Alito defended the court in articles in the Wall Street Journal's opinion section. The Moores sued the U.S. government in 2019 challenging the mandatory repatriation tax. Circuit Court of Appeals threw out the case, noting that under Supreme Court precedent the "realization of income is not a constitutional requirement."

Persons: Samuel A, Alito Jr, Evelyn Hockstein, Samuel Alito, Charles, Kathleen Moore, Donald Trump, Moores, Elizabeth Warren, Alito, Alito's recusal, David Rivkin Jr, Andrew Chung, Will Dunham Organizations: Supreme, REUTERS, Rights, U.S, Competitive Enterprise Institute, Democratic, Moores, Street, Circuit, Thomson Locations: Washington , U.S, Redmond , Washington, Republican, Constitution's, Bangalore, India, San Francisco

☆ Asia stocks closing in on strongest month since January
▼ + stars: | 2023-11-30 | by ( Kane Wu | ) www.reuters.com time to read: +4 min

A man is reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. The MSCI Asia-ex-Japan stocks index (.MIAPJ0000PUS) is up 6.7% so far this month, setting it on course to mark the best month since January. South Korea's KOSPI (.KS11) has led the rally in Asia with 10.5% gains this month, followed closely by Taiwan (.TWII) and Japan's Nikkei Average index (.N225). Ten-year U.S. yields are down more than 60 basis points in November, on track for the steepest monthly drop since late 2008. U.S. financial conditions are the loosest since early September and have eased 100 basis points in a month, according to Goldman Sachs.

Persons: Issei Kato, Korea's, Christopher Waller, Waller, Redmond Wong, Goldman Sachs, J.P.Morgan, Brent, Kane Wu, Vidya Ranganathan, Sam Holmes Organizations: REUTERS, Fed, Stock, U.S, Wednesday, Saxo Markets, Organization of, Petroleum, Reuters, Thomson Locations: Tokyo, Japan, HONG KONG, U.S, Asia, Taiwan, Greater China, China, Russia, Hong Kong

☆ Asia stocks hold gains as confidence grows on rate outlook
▼ + stars: | 2023-11-23 | by ( Selena Li | ) www.reuters.com time to read: +4 min

China's benchmark share index (.CSI300) fell 0.16% on Thursday, with the real estate sub-index (.CSI931775) retrieved earlier losses to gain 2.11%. Chinese government advisers will recommend to an annual policymakers' meeting that economic growth targets for next year be set at 4.5% to 5.5%, Reuters reported on Wednesday. Markets have generally been buoyant this month, with stocks rallying on expectations of a more benign interest rate backdrop. The next set of forward-looking flash November PMIs will help investors to assess recession risks and how quickly rate cuts might begin. The minutes of the European Central Bank's October meeting and flash PMIs for a host of European countries are Thursday's highlights.

Persons: Tyrone Siu, shrugged, Redmond Wong, Brent, Sterling, Jeremy Hunt, Changpeng Zhao, Bitcoin, Selena Li, Edmund Klamann, Stephen Coates Organizations: REUTERS, Bloomberg, Garden Holdings, HK, Reuters, U.S, The, Federal Reserve, Saxo Markets, Nikkei, Nasdaq, European Central, PMI, OPEC, FTSE, UK Finance, Thomson Locations: Exchange, Hong Kong, China, HONG KONG, Asia, Pacific, Japan, United States, The U.S, Greater China, Australia, Britain, U.S

☆ Asia stocks hold recent gains as confidence grows on rate outlook
▼ + stars: | 2023-11-23 | by ( Selena Li | ) www.reuters.com time to read: +4 min

Investors are also looking to Chinese policymakers for clues on possible support for the long-suffering property market, in line with broader growth targets they are hammering out. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged down 0.11% in thin trading, with Japan and the United States on holiday. Chinese government advisers will recommend to an annual policymakers' meeting that economic growth targets for next year be set at 4.5% to 5.5%, Reuters reported on Wednesday. Markets have generally been buoyant this month, with stocks rallying on expectations of a more benign interest rate backdrop. The next set of forward-looking flash November PMIs will help investors to assess recession risks and how quickly rate cuts might begin.

Persons: Tyrone Siu, shrugged, Redmond Wong, Brent, Sterling, Jeremy Hunt, Changpeng Zhao, Selena Li, Edmund Klamann Organizations: REUTERS, Federal Reserve, Saxo Markets, Nikkei, Reuters, Nasdaq, OPEC, FTSE, UK Finance, Thomson Locations: Exchange, Hong Kong, China, HONG KONG, Asia, Pacific, Japan, United States, U.S, Greater China, Australia, Britain

☆ Altman hiring is a major win for Microsoft, should drive further gains for stock, analysts say
▼ + stars: | 2023-11-20 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

But even as the story continues unfolding, analysts already view Microsoft as well positioned coming out of the latest Silicon Valley spectacle. Ives, who reiterated his outperform rating and $425 price target for Microsoft, said the OpenAI board was "kids poker table and thought they won." "We view Microsoft now even in a STRONGER position from an AI perspective with Altman and Brockman at MSFT running AI," Ives wrote to clients Monday morning. Ives' price target is higher than the consensus on Wall Street of $403, according to LSEG, implying upside of slightly more than 9%. Materne has an outperform rating on the stock and a $432 price target.

Persons: Sam Altman, —, Altman, MSFT, Dan Ives, Ives, Satya Nadella, Greg Brockman, Brockman, outperforming, Oppenheimer, Timothy Horan, Bing, Horan, ISI's Kirk Materne, Materne, Michael Bloom Organizations: Microsoft, Nasdaq Locations: OpenAI, Redmond, Wash

☆ T-Mobile sued after employee stole nude images from customer phone during trade-in
▼ + stars: | 2023-11-17 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

"Nevertheless, T-Mobile has failed to implement any common-sense security hardware or software to protect consumers from their data and privacy being exploited during ordinary transactions at the T-Mobile store." "Anxious and concerned, Jane hastily returned to the T-Mobile store with her mother to speak to the store manager," the lawsuit states. "During this time, while Jane was seeking assistance at the T-Mobile store, the unauthorized person continued to log into her social media accounts on the iPhone XS Max." "T-Mobile has big incentive programs to induce customers to upgrade their devices and turn in their old ones. But the ugly truth is that T-Mobile knows that employees sometimes steal customers' most intimate images and videos from the old devices they relinquish," Goldberg added.

Persons: Mobile didn't, Jane Doe, Max, Jane, Carrie Goldberg, Laura Hecht, Felella, Goldberg, Emma Aubrey Organizations: Mobile, Columbia, Redmond Law, CNBC Locations: Washington, United States, Seattle, York, Redmond

☆ Time to invest in China? The pros weigh in on what sectors and stocks to play right now
▼ + stars: | 2023-11-15 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +5 min

Chinese stocks too have done poorly. 'High confidence in the tradable value' While the Chinese economy "is not very strong," Wong has "high confidence in the tradable value," of Chinese stocks. Stocks to play Goldman is overweight on several sectors including online retail, media/entertainment, tech hardware, health care equipment and services and food & beverage. Other stocks the investment bank sees outperforming "as the China growth story evolves" include internet services provider NetEase , technology hardware manufacturer Xiaomi , and manufacturing conglomerate BYD . China-focused ETFs Elsewhere, Saxo's Wong has his eye on the new infrastructure (such as 5G technology), industrial technology and agricultural technology themes.

Persons: Redmond Wong, Wong, Goldman Sachs, Stocks, Goldman, Saxo's Wong, — CNBC's Michael Bloom, Clement Tan Organizations: Shenzhen Component, Saxo, CNBC, National Bureau of Statistics, Tech, Baidu, Galaxy Entertainment, Mining, China Resources Beer, Miniso, Hong Kong Exchange, CSI Agriculture, CSI 5G Communications, CSI Technology, Enterprises Locations: Shenzhen, China, Taiwan, India, South Korea, Brazil, Mexico

☆ Microsoft announces custom AI chip that could compete with Nvidia
▼ + stars: | 2023-11-15 | by ( Jordan Novet | ) www.cnbc.com time to read: +5 min

A custom-built rack for the Maia 100 AI Accelerator and its "sidekick" inside a thermal chamber at a Microsoft lab in Redmond, Washington. The first, its Maia 100 artificial intelligence chip, could compete with Nvidia's highly sought-after AI graphics processing units. In addition to designing the Maia chip, Microsoft has devised custom liquid-cooled hardware called Sidekicks that fit in racks right next to racks containing Maia servers. Moving from GPUs to AWS Trainium AI chips can be more complicated than migrating from Intel Xeons to Gravitons, though. WATCH: Nvidia notches tenth straight day of gains, driven by new AI chip announcement

Persons: Maia, Nvidia's, Rani Borkar, Borkar, OpenAI, OpenAI's, We've, they've, Colette Kress, Steve Tuck, Tuck, Graviton, Dave Brown, Brown Organizations: Microsoft, Intel, Google, CNBC, Amazon, Services, Nvidia, AMD, Computer, Companies, SQL, AWS Locations: Redmond , Washington, Seattle, New York, Gravitons

☆ Microsoft introduces its own chips for AI, with eye on cost
▼ + stars: | 2023-11-15 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

Microsoft said it does not plan to sell the chips but instead will use them to power its own subscription software offerings and as part of its Azure cloud computing service. Microsoft and other tech giants such as Alphabet are grappling with the high cost of delivering AI services, which can be 10 times greater than for traditional services such as search engines. The Maia chip, they said, is optimized for that work. Microsoft also said that next year it will offer its Azure customers cloud services that run on the newest flagship chips from Nvidia (NVDA.O) and Advanced Micro Devices. He said the Maia chip would allow Microsoft to sell AI services in the cloud until personal computers and phones are powerful enough to handle them.

Persons: Maia, OpenAI, Scott Guthrie, Ben Bajarin, Bajarin, Microsoft's Guthrie, Guthrie, Rani Borkar, Borkar, Stephen Nellis, Edmund Klamann Organizations: Reuters, Microsoft, REUTERS Acquire, Wednesday, Ignite, Nvidia, Devices, Amazon Web Services, Arm Holdings, Amazon, Taiwan Semiconductor Manufacturing, Thomson Locations: Redmond , Washington, Seattle, San Francisco

☆ Some fund managers see merit in China's deeply discounted stocks
▼ + stars: | 2023-11-14 | by ( Summer Zhen | ) www.reuters.com time to read: +5 min

U.S. asset manager Fidelity International is highlighting China's looser monetary policy and the government's recent 1 trillion yuan ($137.10 billion) borrowing-and-spending sovereign bond plan as a tailwind for the country's stock markets. London-based £3 billion fund manager Somerset Capital Management likewise finds China exciting. The stock market has yet to recover, but has stabilised. Morgan Stanley estimates long-only foreign investors now have their deepest underweight positions in China and Hong Kong equities in years. Chinese stocks could see a short-term sentiment pick-up given foreign funds have such light positions in the market, said Redmond Wong, Greater China market strategist at Saxo Markets.

Persons: Dado Ruvic, ”, Marty Dropkin, Mark Williams, Morgan Stanley, Patrick Ghali, Sean Ho, Vivek Tanneeru, Redmond Wong, Summer Zhen, Xie Yu, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Fidelity, Asia Pacific, Fidelity International . London, Somerset Capital Management, Nasdaq, Japan’s Nikkei, Sussex Partners, Hong, China, Hang Seng Tech, Monetary Fund, Cambridge Associates, Capital, “, Triata, Matthews Asia, Saxo Markets, Thomson Locations: HONG KONG, China, U.S, Asia, Hong Kong, London, Boston, San Francisco, Greater China

Trautman purchased a 53-foot sailboat called the SV Delos for $398,000 with a $81,000 down payment. WE SailSince he started traveling the world by boat, Trautman has visited over 45 countries and has racked up 70,000 ocean miles. When Sierra turned four months old, the now family of three returned to life on the sailboat. To stay connected with their family members on land, Trautman says they have their loved ones visit them when they are docked. The couple stays connected to their family online and by planning trips to places they're docked.

Persons: Brian Trautman, Trautman, maxed, Karin, Sierra Organizations: Microsoft, CNBC, SV Delos, YouTube, Sailing SV Delos, WE Locations: Redmond , Washington, Bellingham , Washington, New Zealand, Polynesia, Sweden, Caribbean, Philippines, they're

☆ At SpaceX, worker injuries soar in Elon Musk’s rush to Mars
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +35 min

Through interviews and government records, the news organization documented at least 600 injuries of SpaceX workers since 2014. The more than 600 SpaceX injuries Reuters documented represent only a portion of the total case count, a figure that is not publicly available. SpaceX injury data reporting failures SpaceX facilities failed to submit injury data annually, as required by regulators, for most years since 2016. Workers welded rocket parts up to 12 hours a day, six days a week, often in temperatures over 100 degrees Fahrenheit, the SpaceX workers said. The accident occurred when he and other SpaceX employees were being transferred between two vessels.

Persons: Lonnie LeBlanc, LeBlanc, LeBlanc’s, hasn’t, Musk, ”, Tom Moline, Francisco Cabada, Cabada’s, Elon Musk, Ydy Cabada, Kennedy didn’t, Kennedy, “, Jordan Barab, Travis Carson, Carson, entrepreneurism, Jeff Bezos, Chris Cunnington, Phillip Fruge, ” Fruge, ” Carson, Elon, Carson “, Florentino Rios, Rios, Rios inched, Richard Hinojosa, ” Rios, Cabada, Ydy, SpaceX hasn’t, Michael Sanchez, ” Sanchez, Francisco’s, Evelyn Cabada, ” Barab, Boring, Paige Holland, Musk’s, Moline, Gwynne Shotwell, ” Shotwell, Shotwell, CalOSHA, Ann Rosenthal, Steven Trollinger’s, Trollinger, –, Chris Weimer, Ron Weimer Organizations: Elon, SpaceX, U.S . Marine Corps, U.S . Occupational Safety, Health Administration, OSHA, Musk’s, V2, Reuters, Regulators, Kennedy Space Center, U.S . National Aeronautics and Space Administration, NASA, ” Reuters, California OSHA, CalOSHA, ”, Workers, Boeing, Cabada, Boring Company, National Labor Relations Board, billionaire’s, Federal Locations: McGregor , Texas, LeBlanc, amputations, Hawthorne , California, Brownsville , Texas, Redmond , Washington, Florida, Cape Canaveral, California, Brownsville, Texas, Mexico, Moline, Carson, American, SpaceX’s Brownsville, Rios, Hawthorne, Los Angeles, “, ” Holland, Thielen, Holland, Federal, After Texas

☆ Amazon adds a new reason to get and keep Prime: member discounts on health-care services
▼ + stars: | 2023-11-08 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Amazon (AMZN) said on Wednesday that it's offering Prime members a discount on its new health-care service — another perk that should help bring more people into the online retailer's ecosystem. It provides members unlimited 24/7 access to virtual care as well as in-person, and remote primary care services. Prime members can add up to five people from their family to the One Medical plan for an additional $6 a month. Amazon offering a discounted subscription to One Medical's services is part of the company's efforts to expand the broader Prime flywheel by leveraging its 167 million Prime members. The goal of the Amazon Prime membership is to provide people with "one simple membership, something that provides shopping, savings, streaming and now positive health outcomes, said Jamil Ghani, SVP of Amazon Prime in a CNBC interview Wednesday.

Persons: Jeff Marks, It's, Tom Forte, Forte, Andy Jassy, Davidson, there's, Jamil Ghani, Jim Cramer's, Jim Cramer, Jim, John Love, Jason Redmond Organizations: Amazon, D.A, Amazon Web Services, Amazon Pharmacy, Amazon Prime, CNBC, Robotics Research, AFP, Getty Locations: Davidson, Sumner , Washington

The company's revenue rose 13% to $56.5 billion in the quarter ended Sept. 30, compared with analysts' consensus estimate of $54.52 billion, according to LSEG data. Revenue from Microsoft's Intelligent Cloud unit, which houses the Azure cloud-computing platform, grew to $24.3 billion, compared with analysts' estimate of $23.49 billion, LSEG data showed. Microsoft said on Tuesday that its fiscal first-quarter profit was $2.99 per share, above analyst estimates of $2.65 per share, according to LSEG data. Sales of its Windows operating system and other products in the segment grew to $13.7 billion, compared with analysts' consensus estimate of $12.82 billion, according to data from LSEG. The segment containing the LinkedIn social network and its office productivity software grew to $18.6 billion, compared with analysts' consensus estimate of $18.20 billion, according to LSEG data.

Persons: Dado Ruvic, Jesse Cohen, Jeremy Goldman, Anna Tong, Stephen Nellis, Yuvraj Malik, Devika Syamnath, Peter Henderson, Matthew Lewis Organizations: Microsoft, REUTERS, Investing.com, Alpha, Intelligence, Thomson Locations: Investing.com ., Redmond, Washington, San Francisco, Bengaluru

The company reported quarterly net income of $22.29 billion, or $2.99 per share, which beat Wall Street expectations. The Redmond, Washington-based software maker posted revenue of $56.52 billion in the quarter, up 13% from last year, also beating expectations. Analysts polled by FactSet Research expected Microsoft to earn $2.65 per share on revenue of $54.52 billion. Analysts are currently projecting Microsoft will produce revenue of $58.67 billion for the October-December quarter. Its productivity business segment, which includes its Office suite of email and other workplace products, grew 13% to $18.59 billion for the quarter.

Persons: REDMOND, Satya Nadella Organizations: Microsoft, FactSet Research, Windows, Activision, Microsoft Corp Locations: Wash, Redmond, Washington, California

☆ An Alaska Airlines jet had to dodge a SkyWest flight near an Oregon airport. Near-misses are surprisingly common.
▼ + stars: | 2023-10-23 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

An Alaska Airlines plane and a SkyWest Airlines flight came a bit too close to each other. The situation unfolded last Monday at about 4:15 p.m. local time when an Alaska Airlines flight from California abandoned its landing attempt at the Portland airport due to bad weather — just as a SkyWest Airlines flight departed from the same airport. According to the Federal Aviation Administration, the pilot of Alaska Airlines Flight 1299 initiated a standard maneuver known as a "go-around" due to wind while attempting to land at the airport and turned toward SkyWest Airlines Flight 3978, which had just taken off. "An air traffic controller instructed the Alaska Airlines pilot to turn away from the SkyWest aircraft," the FAA told Insider in a statement. SkyWest Airlines told Insider that the flight "departed normally with pilots following air traffic control instructions and landed routinely at Seattle."

Persons: — Organizations: Portland International Airport, Alaska Airlines, SkyWest Airlines, Federal Aviation Administration, Service, FAA, YouTube, Oregonian, Oregon's Redmond Municipal Airport, New York Times Locations: Portland, Alaska, California, Oregon's Redmond, Seattle

☆ After blockbuster Microsoft deal, gaming giants are still sitting on $45 billion cash hoard
▼ + stars: | 2023-10-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Public gaming companies currently hold cash and cash equivalents of $45.1 billion, according to a report from venture capital firm Konvoy. Publicly listed gaming companies had a fairly rosy year in 2023, on the whole. The VanEck Video Gaming and eSports ETF , which seeks to track MVIS Global Video Gaming & eSports Index, has climbed 20% in the year to date, according to Konvoy. Total venture funding into the video games industry in the third quarter of 2023 fell 9% quarter-over-quarter, to $454 million. That was when pandemic lockdowns were in full swing, and people had more time to spend playing video games indoors.

Persons: China's NetEase, hasn't, China's Tencent, Josh Chapman, Redmond, Chapman, Candy Crush, Konvoy's Chapman Organizations: Chesno Publicly, CNBC, Activision Blizzard, Electronic Arts, Nintendo, Bandai Namco, Public, Gaming, Esports, Big Tech, Microsoft, Google, Apple, Meta, Netflix, Sony, Activision, U.S, U.K, Markets Authority, Duty, Bandai Namco Entertainment Locations: Konvoy, Washington

☆ Insider Today: Tech workers are bummed
▼ + stars: | 2023-10-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisementIn today's big story, we're looking at why some tech workers don't love their jobs anymore. Many factors led to the shift, from significant layoffs in Big Tech to in-office mandates and financial pressure due to high interest rates. AdvertisementAdvertisement(Interestingly enough, Terrazas writes that workers in non-tech roles — like human resources and marketing — report the highest job satisfaction at Big Tech companies.) But it feels like tech workers themselves will end up having to do a bit of recalibration. Working in Big Tech has become a job like any other corporate gig.

Persons: Alyssa Powell, tech's, Aaron Terrazas, Terrazas, Insider's Hugh Langley, Grace Kay, Garry Gensler, Drew Angerer, Gary Gensler, Janet Yellen, it's, Satya Nadella, JASON REDMOND, ADAM GRAY, didn't, Israel, Don't, Rae Dunn, Jim Jordan, Jada Pinkett, Pinkett Smith, Will Smith, Goldman Sachs, Lockheed Martin, Johnson, Leah Kern, Joe's, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Sigma, Insider Tech, Big Tech, Tech, Terrazas, SEC, Getty, LinkedIn, Tesla Edinburgh, Amazon, Republican, Bank of America Locations: Big, Israel, Ukraine, AFP, Tesla, Temple, El, New York City, York, San Diego, London, New York

☆ Rite Aid is planning to close about 150 locations. See if your local store is on the list.
▼ + stars: | 2023-10-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +9 min

Rite Aid filed plans to close 154 stores on Monday as part of its Chapter 11 bankruptcy. Rite Aid is the smallest of the three major drugstore chains, well behind CVS and Walgreens. Rite Aid was expected to close stores as part of its bankruptcy. Rite Aid told Insider that it considers a variety of factors when deciding to close a store, "including business strategy, lease and rent considerations, local business conditions and viability, and store performance." "We will also strive to transfer associates to other Rite Aid locations where possible," the company said.

Persons: —, Glen, Taylor, Daniel Webster, Merrick, William Penn, Redmond, Lacey Organizations: CVS, Walgreens, Service, Pennsylvania . Rite Aid, Wall Street Journal, Rite Aid, Rite, Crenshaw, Hollywood Way, San, Niguel, Yorba, Santa, Thompson Boulevard, Ventura, Atwater, Overland, Meridian, Main, Bel, Bel Air South, Park, Main Street, Lafayette, Garfield, Garden, Ford, Flint, Farmington, Whittemore Street, New Jersey :, Marshall, Bridgeton Pike, Whiting, Pike, Huntington, Jericho Turnpike, Jeff, North Street, Cesar, Chavez, Pennsylvania, Stevenson, Bethel, Union, Allentown, Fourth Street, Fifth, Washington Lane, Street, Central Avenue, Grady, Everett Locations: California, New York, Pennsylvania, Los Angeles, Rock, Centinela, Downey, Beach, Burbank, Hollywood Way Covina, Puente, Alhambra, Oceanside, San Diego, Yorba Linda, Santa Ana, Thompson, Thompson Boulevard Oxnard, Cupertino, Santa Clara, Cruz, Bellevue, Sacramento, Boulevard Ontario, Irvine, Monterey, Alvarado Street Connecticut, Bethel, Greenwood, Delaware, Newark, Hill, Wilmington, Idaho, Boise, Maryland, Elkton, Pulaski, Baltimore, Glen Burnie, Baltimore Annapolis Boulevard Massachusetts, Webster, Main Street Michigan, Fremont, Greenville, Clinton, Macomb, Sturgis, Centerville, Clinton Township, Gratiot, Shelby Township, Dyke, Jackson, Michigan, Manistee, Garden City, North, Detroit, Farmington Hills, St, Johns, Whittemore Street Lansing, Hampshire, Merrimack, New Jersey, New Jersey : West Milford, Mantua, Bridgeton, Irvington, Somerset, Williamstown, Pike New York, Brooklyn, Shore, Merrick, East Northport, Jericho, Jericho Turnpike Medford, Patchogue, West Patchogue, Kenmore, Rochester, Flushing, Levittown, Ohio, Massillon, East New Carlisle, Dayton, Youngstown, Springfield, North Street Bellefontaine, Oregon, Portland, Kensington, Brighton, Bethel Park, Pittsburgh, Greensburg, Bethlehem, Fourth Street Philadelphia, Venango, Washington, Conshohocken, Hanover, Mechanicsburg, Erie, Abington, York, Johnstown, Ardmore, Lancaster, Pittston, Wyoming, Yardley, Chester, Street Titusville, Central Avenue Virginia, Chesapeake, Pleasant, Seattle, Graham, Renton

WASHINGTON (AP) — Charles and Kathleen Moore are about to have their day in the Supreme Court over a $15,000 tax bill they contend is unconstitutional. "If you haven’t received any income, how can you be required to pay income taxes?” Charles Moore asks in a video posted by the Competitive Enterprise Institute. But far from being a passive investor with no influence over the company, Moore, who worked at Microsoft during his career in software development, served on KisanKraft's board of directors for five years. One other inconsistency is that while the Moores say they jointly invested the money, only Charles Moore's name appears in company documents. Rosenthal said that “the ugly facts matter” and that the justices could return the Moores' case to a lower court without ruling on it.

Persons: — Charles, Kathleen Moore, Charles Moore, Moores, Paul Clement said, Donald Trump, haven’t, ” Charles Moore, Moore, Charles, KisanKraft, ” Mindy Herzfeld, Charles Moore's, ”, Reuven Avi, Yonah, Andrew Grossman, Steven Rosenthal, Rosenthal, John Roberts, Clarence Thomas, Ginni, Ravindra “ Ravi ” Kumar Agrawal, “, ” Moore, Samuel Alito, David Rivkin, Alito, Rivkin, Fatima Hussein Organizations: WASHINGTON, Enterprise Institute, Foundation, Republican, U.S . Chamber of Commerce, Competitive Enterprise Institute, Microsoft, University of Florida, KisanKraft, University of Michigan, Associated Press, Urban, Brookings Tax, Center, Moores, ___ Associated Locations: Redmond , Washington, India, county Limerick, Ireland, Nebraska, Colorado, Washington, ___

SAN FRANCISCO (AP) — The Internal Revenue Service says Microsoft owes the U.S. Treasury $28.9 billion in back taxes, plus penalties and interest, the company revealed Wednesday in a securities filing. That figure, which Microsoft disputes, stems from a long-running IRS probe into how Microsoft allocated its profits among countries and jurisdictions in the years 2004 to 2013. Critics of that practice, known as transfer pricing, argue that companies frequently use it to minimize their tax burden by reporting lower profits in high-tax countries and higher profits in lower-tax jurisdictions. Microsoft, which is based in Redmond, Washington, said it followed IRS rules and will appeal the decision within the agency, a process expected to take several years. The company’s shares dropped slightly in aftermarket trading, falling $1.42 to $331.

Organizations: FRANCISCO, Internal Revenue Service, Microsoft, Treasury, Associated Press Locations: U.S, Redmond , Washington

☆ I missed Beyoncé’s European tour, so I flew 4,600 miles to New Orleans to see her in concert — by myself
▼ + stars: | 2023-10-11 | by ( Lucy Handley | ) www.cnbc.com time to read: +10 min

Afterward, I listened to "Summer Renaissance," Beyoncé's reworking of one of my favorite songs, Donna Summer's 1977 disco hit "I Feel Love," on repeat. Beyoncé's daughter, Blue Ivy, dances, as her mother sings behind her on the London, U.K. leg of the Renaissance World Tour in May 2023. Virgin Hotels New Orleans, where I stayed, is only a half-mile from the Superdome stadium, and was well-prepared to host the many concertgoers who stayed there. Members of Beyoncé's Renaissance World Tour band perform at jazz club Snug Harbor in New Orleans, led by saxophonist Kat Rodriguez (second from right). Caesars Superdome stadium in New Orleans is illuminated by thousands of lights attached to audience members' wristbands during Beyoncé's Renaissance World Tour.

Persons: Beyoncé, Kevin Mazur, WireImage, Alexander McQueen, Roksanda, Roksanda Ilincic, Annie Macmanus, Donna Summer's, Blue Ivy, Beyoncé I've, I've, Redmond —, Honey Dijon, Laveau Contraire, Kat Rodriguez, Lucy Handley, Crystal Torres, Tayler Green, Danny Laurino, John Coletti, Hurricane Katrina, Willa Jean, diamante Organizations: Tottenham Hotspur, Tottenham Hotspur Stadium, Parkwood, London, Caesar's, British Airways, Southbank, Virgin Hotels, Preservation Hall, Bank, Getty, Garden, Uptown, Plantations, New, New Orleans police, Vue Orleans, Caesars Locations: London —, Instagram, London, U.K, British, Amsterdam, New Orleans , Louisiana, YOLO, New Orleans, Orleans, Virgin Hotels New Orleans, Bey, Preservation Hall , New Orleans, Snug, Faubourg Marigny, U.S, Mississippi, Louisiana, Beyoncé's

☆ RISC-V group says restrictions on open technology would slow innovation
▼ + stars: | 2023-10-09 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

The comments come after Reuters last week reported that a growing group of U.S. lawmakers are calling on the Biden administration to impose export control restrictions around RISC-V, the open-source technology overseen by the RISC-V International nonprofit foundation. RISC-V technology can be used as an ingredient to create chips for smartphones or artificial intelligence. In a blog post, Calista Redmond, chief of RISC-V International, which coordinates work among companies on the technology, said RISC-V is no different than other open technology standards like Ethernet, which helps computers on the internet talk with each other. Redmond wrote that RISC-V has drawn contributions in equal measure from North America, Europe and Asia. "Having access to open standards allows companies to innovate faster and spend their time creating differentiated products, rather than trying to reinvent the wheel."

Persons: Florence Lo, Biden, Calista Redmond, Redmond, Stephen Nellis, Matthew Lewis Organizations: REUTERS, V, Reuters, V International, U.S, Qualcomm, Google, Huawei Technologies, Arm Holdings, San, Thomson Locations: U.S, North America, Europe, Asia, San Francisco

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