DIRS.INFO The most relevant business & tech news

☆ TSMC’s Tough Quarter Complicates Its U.S. Chip Ambitions
▼ + stars: | 2023-04-20 | by ( Jacky Wong | ) www.wsj.com time to read: +1 min

The $53 billion Chips Act seeks to end the U.S.’s reliance on foreign-made semiconductors, especially those used by the Pentagon. The latest results from the world’s largest contract chip manufacturer confirm the grim outlook facing the semiconductor industry. Taiwan Semiconductor Manufacturing Co.’s weak earnings could also make already difficult negotiations with Uncle Sam over big chip sector investments in the U.S. even more fraught. TSMC is an industry bellwether that supplies Apple and Nvidia , and is negotiating with Washington for a hefty chunk of the chip manufacturing subsidies recently authorized by Congress. Its revenue in dollar terms for the three months ended in March fell 5% from a year earlier, figures released Thursday showed, or a 16% decline quarter over quarter.

☆ Expecting a tax refund? This IRS tool will tell you when it's coming
▼ + stars: | 2023-04-20 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +2 min

The IRS has a simple online tool, available at IRS.gov/refunds , that allows you to track the status of your refund payment. With the average tax refund over $2,800 as of April 7, according to the Internal Revenue Service (IRS), you might be wondering when that check will hit your account or mailbox. Tax season 2022 is officially over — your tax return or extension request was due on April 18. You can access the IRS refund tracker by visiting the IRS website on your desktop computer or by using the IRS2Go mobile app on your phone. Check out: Do you need to file a federal tax return?

☆ Exclusive: Ukraine's Zelenskiy due to address Mexico's Congress Thursday -sources
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, April 19 (Reuters) - Ukrainian President Volodymyr Zelenskiy is due to address Mexico's Congress on Thursday by video, according to two people familiar with the matter, as he seeks support in his country's ongoing war with Russia. Zelenskiy's address to the lower house of Congress came at the invitation of a congressional friendship group between Mexico and Ukraine, according to the sources. There are other similar groups in the Mexican Congress, including one for Russia. Attempts to sway public opinion in Mexico over the war in Ukraine have led to some notable spats in Congress. Last year, the Russian ambassador to Mexico told Mexican lawmakers that Mexico would never take orders from "Uncle Sam", prompting the U.S. ambassador to urge Mexico to support Ukraine.

☆ The Russian air force's struggles in Ukraine reveal glaring problems in now Moscow trains its pilots
▼ + stars: | 2023-04-10 | by ( Alex Hollings | Sandboxx News | ) www.businessinsider.com time to read: +35 min

Despite being bigger and more advanced than its enemy, Russia's air force has struggled in Ukraine. It's commonly said that Russian fighter pilots are not as well trained as their Western counterparts, particularly those from the United States. But however ineffective you may think Russian pilot training is compared to the West, the truth seems to be … much worse. A Russian air force pilot prepares to take off in an Su-35 fighter jet at Hemeimeem air base in Syria in September 2019. Put simply, the Gulf War air campaign creates a damning juxtaposition when compared directly to Russia's air campaign over Ukraine.

☆ Skittish Savers Are Fleeing Local Banks. Here’s Why They Could Still Be a Great Deal for You
▼ + stars: | 2023-04-06 | by ( ) www.wsj.com time to read: +6 min

In fact, experts say now may be the time to consider what small banks have to offer. Depositors appear to be fleeing small banks because they fear problems in the banking sector could spread beyond the tiny number of troubled banks that have made headlines so far. “Which is bad for them, but good for their customers.”Of course, online banks also offer savers high interest rates that meet or exceed what most small banks offer. Small bank loansIf you are looking for a loan, small banks have a lot to offer, too. And if you already have a relationship with a small bank, you might be able to obtain more favorable borrowing terms.

Because I got a tax extension, I was able to work more closely with my CPA and go over all my questions. Those extra months to save made a difference, and I was able to shore up funds to pay for both my corporate and individual tax returns. And since I work with a tax professional, they usually require that I submit all my financial statements and tax documents well before the mid-April deadline. In fact, I usually need to pay quarterly estimated tax returns, plus I usually owe state and federal returns each year. While I don't recommend doing anything last-minute or late, filing my tax returns in mid-October last year did have some unexpected perks.

☆ Saudi $5 bln gaming play only works on some levels
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 6 (Reuters Breakingviews) - Saudi Arabia is defriending read more Uncle Sam on oil, while deploying its video-game war chest in his backyard. Savvy Games, owned by the country’s Public Investment Fund, announced on Wednesday that it was buying U.S. mobile games specialist Scopely for $4.9 billion. Though privately held Scopely doesn’t disclose its financials, Savvy looks to be getting a good price. Less clear is how Scopely contributes to Saudi’s aims of becoming the “ultimate global hub” for gaming and pivoting its economy away from fossil fuels. If Saudi wants to create jobs from the rapid growth of domestic game consumption, it needs to turn its games M&A into gaming boots on the ground.

☆ You may face a 'stealth tax' on Social Security benefits, expert warns. These steps can help
▼ + stars: | 2023-04-05 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

The reason: More of their Social Security benefits may be taxed following a higher 5.9% cost-of-living adjustment in 2022. Unlike other tax thresholds, the Social Security income levels have not been adjusted for inflation since taxation of benefits began in 1984. Not moving the brackets or indexing them gradually exposes more and more people to income taxes on their Social Security benefits, according to David Freitag, a financial planning consultant and Social Security expert at MassMutual. The result is a "stealth tax," Freitag said. How Social Security benefits are taxedUp to 85% of Social Security benefits may be taxed, based on current tax rules.

☆ Carolina Lender Sees Opportunity in Silicon Valley Bank, With Assurances From Uncle Sam
▼ + stars: | 2023-03-27 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

The Federal Deposit Insurance Corp. has rid itself of a $50 billion-plus headache—to the benefit of an opportunistic North Carolina lender. Raleigh-based First Citizens Bancshares has agreed to acquire over $56 billion worth of one-time Silicon Valley Bank deposits, on which the FDIC had agreed to provide unlimited insurance. The deal is complex, but it boils down this way: First Citizens is taking on the deposits, which are obligations the bank has to pay other people. It is getting $72 billion worth of loans, or obligations by other people to pay the bank. The difference between those two is potential value for the bank.

☆ How to Fill Out a Form 1040
▼ + stars: | 2023-03-20 | by ( ) www.wsj.com time to read: +15 min

Form 1040 contains every figure the IRS needs to calculate your tax bill or refund. The form is identical to Form 1040, but with larger text that makes the form easier to read.) Filing status and personal informationAt the top of Form 1040, you’ll indicate your filing status and provide your basic personal information. If you make estimated tax payments throughout the year, you might want some of your overpayment applied to your estimated tax payments for the following year. Signatures on Form 8879 can be electronic or physical, and once the form is signed you can submit your return for e-filing.

☆ The Biden administration is offering to pay Colorado River farmers to let fields go dry during a devastating drought. They're worried it's just the first step in losing their way of life.
▼ + stars: | 2023-03-19 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +7 min

The Biden administration is paying Colorado River farmers and ranchers to let their fields run dry. Climate change has made the Colorado River the dryest it's been in more than a thousand years. Knowing they have to do something, Grand Valley farmers and ranchers want better compensation to make fallowing worth their while. At this better price they received enough applications from agricultural producers to cover the thousand acres Grand Valley offered, he said. Are you a farmer, rancher, or resident of the Colorado River basin concerned about water conservation?

☆ Accounts to buy bonds from the government jumped fivefold as yields boomed
▼ + stars: | 2023-03-16 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +1 min

In 2022, savers created 3.6 million accounts at TreasuryDirect.gov, a website where investors can buy a range of savings bonds and Treasury securities from the U.S. government. That's up about fivefold from 2021, when investors opened 689,369 accounts on the site. I bondsFirst, savers turned toward Series I savings bonds, an inflation-protected and largely risk-free asset that's issued by the federal government. The rate on these bonds has two components: a fixed rate of interest and a rate that varies based on inflation. You can buy up to $5,000 in paper I bonds using your tax refund.

☆ Deposit insurance is addiction not medication
▼ + stars: | 2023-03-16 | by ( John Foley | ) www.reuters.com time to read: +7 min

NEW YORK, March 16 (Reuters Breakingviews) - Deposit insurance is as American as apple pie, and twice as unhealthy. Bank deposits in the United States are guaranteed up to $250,000, and over 90% of SVB’s accounts held more than that sum. Alternatively, regulators could invite the market to provide a solution – say, with privately funded insurance for deposits over the guaranteed limit. The trouble is that deposit insurance is like Novocaine – the higher the dose, the more the patient becomes numb. For that reason the best option is probably to do nothing – or better still, lower the deposit insurance limit.

☆ The US military has 6 new air-to-air missiles in the works
▼ + stars: | 2023-03-15 | by ( Alex Hollings | Sandboxx News | ) www.businessinsider.com time to read: +16 min

The US military has at least six new air-to-air missiles in active development. The US's current air-to-air missiles are effective, but they aren't designed for the newest US jets. Russia and China are fielding missiles with incredible rangeChinese-made PL-9C, left, and PL-5E air-to-air missiles at the Airshow China exhibition in November 2000. Peregrine Air-to-Air missileRaytheon's Peregine air-to-air missile has actually been around for a few years already. Modular Advanced Missile (MAM)The Modular Advanced Missile (MAM) is among the newest additions to this list.

☆ Analysis: Trump, DeSantis offer stark contrast in first Iowa forays
▼ + stars: | 2023-03-14 | by ( James Oliphant | ) www.reuters.com time to read: +5 min

[1/2] Former U.S. President Donald Trump delivers remarks on education as he holds a campaign rally with supporters, in Davenport, Iowa, U.S. March 13, 2023. REUTERS/Jonathan ErnstDAVENPORT, Iowa, March 14 (Reuters) - Former President Donald Trump and Florida Governor Ron DeSantis descended upon the same Iowa town in recent days, putting the differences between the potential Republican presidential rivals in stark relief. "I don't think you're going to do so well here," Trump said of DeSantis, "but we're going to find out." Leaving Trump's event, Iowa City voter John Schneider, 69, said he has supported Trump in the past but now will be eyeing DeSantis and other potential contenders as they barnstorm the state in the coming months. Reporting by James Oliphant in Davenport, Iowa Editing by Colleen Jenkins and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

NEW YORK, March 10 (Reuters Breakingviews) - Nearly three years with no U.S. bank failures just came to an unseemly end. The bank owned by SVB Financial (SIVB.O) relied more heavily on large, and therefore, uninsured, deposits than other banks. A buyer – say, a bank that covets SVB’s relationship with upwardly mobile entrepreneurs – might swoop in and buy the whole thing. Other depositors would receive certificates of receivership, which entitle them to dividends payable from the proceeds of selling the bank’s assets. SVB had around $165 billion in deposits as of Feb. 28, it said in a presentation on March 8.

HOUSTON, March 8 (Reuters) - Billions of dollars in clean energy incentives are poised to speed investment on American soil while putting the European Union's energy transition at risk by luring away money and talent, executives at the CERAWeek energy conference said this week. European energy companies echoed the call for Europe to come up with its own new incentives. Patrick Pouyanne, CEO of French energy giant TotalEnergies told the conference the IRA was an "invitation to accelerate green infrastructure." In Europe, you begin to regulate," he said, adding that Europe and the United States should consider forming a free trade agreement on renewable energy infrastructure. Ken Gilmartin, CEO of British engineering firm Wood Plc, said the IRA would put the United States in first place in the decarbonization race.

☆ In praise of American finance’s regulatory mess
▼ + stars: | 2023-03-09 | by ( John Foley | ) www.reuters.com time to read: +8 min

NEW YORK, March 9 (Reuters Breakingviews) - There are many issues on which China and the United States are far apart. The People’s Republic this week proposed combining financial regulatory functions into a new super watchdog to govern its financial sector more effectively. China’s proposed new National Financial Regulatory Administration is roughly in this mold. Since 2008, officials in Beijing have criticized the United States’ financial excesses and its “warped conception” of financial discipline. The new National Financial Regulatory Administration would sit directly under the State Council, which serves as China’s cabinet.

☆ America’s credit rating could get downgraded even if a default is avoided, Fitch Ratings warns
▼ + stars: | 2023-03-06 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Every few years, Washington plays a dangerous game of chicken over whether to raise the debt ceiling or default on US debt. Even if a default is avoided this time, the frequent nature of these political showdowns could cause America’s credit rating to get downgraded, Fitch Ratings told CNN on Monday. Those already look messy and were at the heart of the unprecedented credit ratings downgrade by S&P Global Ratings in 2011. Goldman Sachs told CNN in late January that a full-blown debt ceiling crisis could spark a recession. That’s why Fitch does not have the United States on watch for a downgrade, at least not yet.

☆ How to Read a Form 1098-E
▼ + stars: | 2023-03-02 | by ( ) www.wsj.com time to read: +10 min

By Kerri Anne RenzulliIf you have student loans, chances are you’ll encounter the IRS’s Form 1098-E. Those with multiple loans across multiple lenders will be sent a separate 1098-E form by each lending institution. But for those who do, this mark indicates that you took out your student loan before Sept. 1, 2004. Instead of relying on the Form 1098-E, you’ll need to request or download records of what you paid in interest and your payment history from your loan servicer, says Greene-Lewis. Who can claim the student loan interest deduction The $2,500 deduction phases out as your modified adjusted gross income rises.

I didn't think much about opening a separate business checking account so my income from freelancing didn't mix with my personal account. When tax season rolled around, I spent hours separating out my business expenses from my personal expenses. A few years later, I opened another personal credit card. Not only was it easier to categorize my business expenses, but I also snagged a robust introductory bonus. Because no taxes are withheld from my income from clients, I'm responsible for paying self-employment tax.

☆ The average tax refund was over $3,000 last year—here are the best ways to use yours at every age
▼ + stars: | 2023-01-24 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +4 min

While getting a large tax refund may mean you should reconsider your withholdings, in general there's nothing wrong with preferring to take the refund route. Anyone receiving a significant refund check, however, may want to use that cash strategically to work toward various money goals. A few hundred dollars from your tax refund can give your emergency fund, 401(k) or other retirement account a nice boost. Many people also become parents in their 30s, which can drastically change your financial goals. Your tax refund may not be large enough to completely tackle a big money goal, but small steps can still make an impact.

☆ We sold our belongings and bought a $2.5 million cabin on a luxury residential cruise ship that will sail the world. Here's what we're excited about and how we're preparing to live at sea.
▼ + stars: | 2023-01-19 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +8 min

We got the whole ship, and we're going to be going ashore as much as we like. They sold their house and went all-in on living at seaAngela: We opted for the leasehold period of 24 years. That's really what we're gonna live off of. So everyone that's living on this ship, you're not going to be having the carnival nights and the crazy college party ambiance. Well, the Narrative is not going to spend just one day at port, they're going to spend three days, four days, five days depending on where you're going.

In addition to exchanging crypto for government-issued currency, trading one crypto for another type of crypto creates a taxable event. Accordingly, investors need to pay capital gains taxes on their profits from selling or exchanging crypto. Important: While selling, trading, or exchanging crypto triggers a taxable event, buying it does not. However, you wouldn't owe money on the capital loss — in fact, you can use the capital loss to offset some of your capital gains on other assets. How to calculate crypto taxesCalculating crypto taxes can be daunting, especially if you're active in the markets.

☆ Ukraine conflict spurs some Russians to seek Kalashnikov training
▼ + stars: | 2022-12-06 | by ( Guy Faulconbridge | ) www.reuters.com time to read: +5 min

[1/3] A woman takes part in an initial military training for civilians at the sports and patriotic club "Yaropolk" in Krasnogorsk outside Moscow, Russia December 3, 2022. Russia, Putin says, is defending Russians in Ukraine against a decadent West that ultimately wants to carve up Russia's vast resources and eradicate Russian civilisation. The club's videos show training to a popular song with the lyrics: "Be afraid - we, the Russians, are coming." Directorate "A", known as Alpha Group, is one of Russia's most elite special forces units. Russia presents the conflict in Ukraine as an attempt to root out neo-Nazis who Moscow says have persecuted Russian speakers.

Search resuls for: "Uncle Sam"

25 mentions found