A controversial tax provision within the recently passed US tax bill is raising concerns. Section 899, titled "Enforcement of Remedies Against Unfair Foreign Taxes," empowers the US to increase tax rates on individuals and companies from countries with allegedly discriminatory tax policies. This includes raising taxes on passive income...
E.L.F. Beauty acquired Hailey Bieber's beauty brand, Rhode, for $800 million in cash and stock. Rhode, known for its blushes and lip glosses, has experienced rapid growth in just three years, largely due to Bieber's significant social media presence. The deal includes a potential additional $200 million based...
Williams Companies is reviving plans to build two natural gas pipelines in New York State, reversing previous decisions due to environmental concerns. New York had blocked the Constitution and Northeast Supply Enhancement pipelines, but the Trump administration's pro-energy infrastructure stance, and recent discussions with Governor Hochul regarding a wind...
Gap Inc. announced first-quarter earnings that beat expectations, but warned that new tariffs could impact its business by $100 million to $150 million. The company has mitigated about half the potential $250-$300 million impact from new duties on imports from China and other countries. Gap is diversifying its...
Market Basket CEO Arthur T. Demoulas has been placed on leave by the board of the New England grocery chain. The board cites oversight concerns and disputes over succession planning as reasons for the action, alleging Demoulas planned a work stoppage and unilaterally appointed his children as successors. Demoulas'...
Costco's fiscal third-quarter earnings and revenue surpassed analysts' expectations, with earnings per share reaching $4.28 against a projected $4.24 and revenue hitting $63.21 billion versus an anticipated $63.19 billion. Comparable sales increased by 8%, driven by e-commerce growth of nearly 16%. Despite potential tariff-related cost increases, Costco's strong...
Victoria's Secret's website remains offline following a cyberattack that began earlier this week, impacting online sales and causing an 8% drop in its stock price. The company proactively shut down its website and some in-store services to address the issue, while physical stores remain open. The attacker's identity...
A US court struck down President Trump's reciprocal tariffs. Goldman Sachs predicts the White House will circumvent this ruling by appealing and using executive powers under Section 301 or Section 122 of the 1974 Trade Act to reimpose tariffs. While a full reimposition across all targeted nations is unlikely...
Trump's fluctuating tariff policies have created a profitable trading strategy dubbed "TACO" (Trump Always Chickens Out). This strategy involves buying stocks after Trump announces tariffs, anticipating their subsequent retraction and price increases. Recent examples include a 50% tariff threat against the EU, quickly reversed, and earlier tariffs imposed...
United and JetBlue announced a new partnership, "Blue Sky," involving flight swaps at New York airports, reciprocal loyalty program benefits, and codeshare agreements. United gains access to JFK airport, easing congestion at its Newark hub. Seven flights will be exchanged between JFK and Newark, starting in 2027, with...
