by on January 12, 2018
A loophole in the new U.S. tax law could allow multinational corporations like Apple Inc to avoid paying billions of dollars in taxes on profits stashed overseas, according to experts. The Apple logo is pictured on the front of a retail store in the Marina neighborhood in San Francisco, California April 23, 2014. The company is set to announce its first quarter earnings.  Stemming from a Republican overhaul of international business taxes, the loophole involves the tax rates - 15.5 per...
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by on December 11, 2017
Workers will eventually get 12 weeks off at 67% pay to care for a newborn or a sick relative Not everyone is happy about the new regulation Frank Kerbein's phone has been ringing off the hook. As director of the Center for Human Resources at the Business Council of New York State, he's been hearing from business owners concerned about a sweeping state law that starts Jan. 1. It mandates partially paid leave of up to 12 weeks for workers caring for a new child or helping out when a fami...
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by on December 20, 2017
AT&T was quick to respond to news of U.S. tax reform, announcing it would give some employees bonuses once the legislation is signed into law. The telecom giant said in a press release Wednesday that it would give more than 200,000 of its U.S. workers who are union members a special bonus of $1,000. The company also increased its capital expenditures budget by $1 billion in the U.S. AT&T is paying bonuses of $1,000 to more than 200,000 U.S. employees. AT&T's CEO said...
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by on December 26, 2017
Claire's is pulling makeup that tested positive for asbestos.  Makeup was pulled from jewelry and accessory retailer Claire's after some brands tested positive for asbestos. The company tweeted on Dec. 23 it was pulling the suspected toxic products off its shelves, and said it was beginning an "immediate investigation into the alleged issues." The reports came out of Rhode Island's WJAR after a mom who was concerned about what was being used in her daughter's makeup sent several...
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by on December 16, 2017
FCC chairman Ajit Pai shot a cheeky video about net neutrality on Thursday.  He now faces the possibility of multiple copyright infringement lawsuits and millions of dollars in One ill-conceived video could cost FCC chairman Ajit Pai a lot of money.  That is, potentially millions of dollars in damages involving multiple litigants. This morning, at least one copyright owner vowed to launch a major lawsuit against Pai, the Federal Communications Commission, or both.  The video has already amas...
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by on February 24, 2018
A former MTA manager will be stalled in prison for almost four years for taking bribes from contractors. Brooklyn federal prosecutors say from 2009 to 2015 Talib Lokhandwala, then an MTA construction project administrator, took over $150,000 in bribes from two contractors doing jobs on subway lines. On Friday, Lokhandwala was sentenced to 46 months in prison. Lokhandwala, 64, told the contractors he'd send work their way if they kept up with the bribes — but if the flow of cash stopped,...
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by on January 10, 2018
President Trump’s companies sold more than $35 million in real estate in 2017, mostly to secretive shell companies that obscure buyers’ identities, continuing a dramatic shift in his customers' behavior that began during the election, a USA TODAY review found. In Las Vegas alone, Trump sold 41 luxury condo units in 2017, a majority of which used limited liability companies – corporate entities that allow people to purchase property without revealing all of the owners’ names. The trend ...
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by on December 15, 2017
The soaring price of bitcoin—the virtual currency is now worth more than $250 billion—has gotten a lot of attention in recent weeks. But the real significance of bitcoin isn't just its rising value. It's the technological breakthrough that allowed the network to exist in the first place. Bitcoin's still anonymous inventor, who went by the pseudonym Satoshi Nakamoto, figured out a completely new way for a decentralized network to reach a consensus about a shared transaction ledger. This innova...
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by on January 12, 2018
Streaming services and film studios try to stop free access to shows and movies. Netflix, Amazon, and the major film studios have sued the makers of "The Dragon Box," a device that connects to TVs and lets users watch video without a cable TV or streaming service subscription. Joining Netflix and Amazon as plaintiffs in the suit are Columbia Pictures, Disney, Paramount Pictures, Twentieth Century Fox, Universal, and Warner Bros. The suit asks for financial damages and an injunction pre...
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by on November 29, 2017
The Google-owned video site faces controversy over inappropriate videos and comments aimed at children -- and major brands have reportedly pulled ads. YouTube is facing another advertiser boycott.  YouTube is trying to clean up its site as it deals with controversies concerning minors on the service.   The Google-owned video site has drawn ire because some videos with children were the target of sexually inappropriate comments. In response, YouTube killed hundreds of accounts and re...
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by on December 26, 2017
Do you really know what bitcoin is? Maybe it was those stories you heard — Lamborghinis and second mortgages, fortunes made and lost off of something you didn’t even really know existed until six months ago. Maybe it’s those eye-popping charts you keep seeing, the ones that go $5,800 per unit to $19,00 per unit in just one month … and the other ones that go in the opposite direction in just one week. Maybe all of your friends are constantly watching their phones, tracking their own invest...
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by on 23 hours ago
Attorneys general of Maryland and the District of Columbia on Friday expanded their lawsuit accusing President Trump of accepting gifts from foreign and state governments, suing him not only as president but in his personal capacity as a businessman. Legal experts say the move takes the "emoluments" clause of the Constitution into uncharted legal waters, since it has been interpreted as only applying to presidents in their official capacity. "The conventional understanding is that on...
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