Money


Govt changes angel tax rules to address concerns Govt changes angel tax rules to address concerns
- January 19, 2019

Various startup founders have recently claimed of receiving notices under Section 56 (2) (viib) of the Income Tax Act from the I-T department to pay taxes on angel funds raised by them. The notification also mandates angel investors to have filed income tax returns of at least ₹50 lakh for the year preceding the investment year, a measure that seeks to ensure there is no money laundering via this route. (more...)
Facebook to invest $300 mn in local news outlets globally Facebook to invest $300 mn in local news outlets globally
- January 19, 2019

The last few years have been tumultuous for many social networks and the media industry, as struggles to flag "fake news" and planted stories shook the faith of many people when it came to the legitimacy of what they consumed online. "This year, we'll commit over $20 million to continue our local "Accelerator" programme in the USA and to expand the model globally, including in Europe", said Brown. (more...)
The Number of Federal Workers Seeking Unemployment Doubled Last Week The Number of Federal Workers Seeking Unemployment Doubled Last Week
- January 18, 2019

U.S., 19-cv-62, and Hardy v. U.S., 19-cv-51. "The big issue we're seeing is federal workers who are required to work but aren't being paid can not receive these benefits", he said. The NTEU said in a statement after the ruling that the Internal Revenue Service plans to end furlough for more than half its workforce to prepare for tax season, meaning that up to 46,000 IRS employees could be forced to work without pay during the shutdown . (more...)
Lincoln Shopko stores among those closing after company files for bankruptcy Lincoln Shopko stores among those closing after company files for bankruptcy
- January 18, 2019

Shopko says it plans to continue operating through chapter 11 reorganization after securing financing from a group of lenders led by Wells Fargo Bank. All Shopko Optical centers and pharmacies remain open during the restructuring. A bright spot for Shopko is its optical business. Over 20 Optical centers will be relocated to freestanding locations. (more...)
Tesla wants people to hack its Model 3 Tesla wants people to hack its Model 3
- January 18, 2019

Trend Micro Inc.'s spring competition, Pwn2Own Vancouver, invites security researchers to expose flaws in web browsers and corporate software. As early as 2014, Tesla launched a Bug Program to encourage researchers to report vulnerabilities in exchange for money, a practice that has also been adopted by General Motors and Fiat Chrysler. (more...)
Vancouver man given lifetime ban from cruise line Vancouver man given lifetime ban from cruise line
- January 18, 2019

Now, Naydev is just lucky, because Royal Caribbean didn't file any legal action. Royal Caribbean tells PEOPLE they will be "exploring legal action" against Naydev and his friends. The video of the jump was uploaded to Naydev's Instagram account on January 12. "He's jumped from those kind of heights before, and we didn't really care about the consequences with the cruise company", Kryachun told the website. (more...)
China's Huawei reportedly targeted in United States criminal investigation China's Huawei reportedly targeted in United States criminal investigation
- January 18, 2019

The investigation grew in part out of civil lawsuits against Huawei, including one in which a Seattle jury found Huawei liable for misappropriating robotic technology from T-Mobile's Bellevue, Wash., lab, the people familiar with the matter said. (more...)
Trump signs law ensuring shutdown pay for government workers Trump signs law ensuring shutdown pay for government workers
- January 18, 2019

Why?" Scalise was asked whether he thought Pelosi was simply trying to get into the president's head in the midst of negotiations, to which he replied: "I think he's already gotten into her head-that she's on the wrong side of this issue". (more...)
Markets Right Now: Banks lead stock gains on Wall Street Markets Right Now: Banks lead stock gains on Wall Street
- January 18, 2019

Goldman reported mixed operational performance across its trading, investing and lending businesses, while Bank of America saw its profits triple compared to a year earlier. The CEO placed much of the blame on former senior banker Tim Leissner, who pleaded guilty previous year to charges including conspiring to launder money. (more...)
Theresa May tells Jeremy Corbyn his conditions for Brexit talks are 'impossible' Theresa May tells Jeremy Corbyn his conditions for Brexit talks are 'impossible'
- January 18, 2019

Corbyn tabled a motion of no confidence, calling for May to resign and advocating snap elections. Nigel Dodds, the DUP's Westminster leader, struck a cautiously optimistic tone after meeting with May alongside the party's leader Arlene Foster. (more...)
U.S. eyes Taiwan risk as China's military capabilities grow U.S. eyes Taiwan risk as China's military capabilities grow
- January 17, 2019

The drills are Taiwan's first since Chinese President Xi Jinping reasserted Beijing's willingness to use military force to bring self-ruling Taiwan under Chinese control on January 2. The Pentagon says Washington has sold Taiwan more than $15 billion in weaponry since 2010. Taiwan has been independent since 1949, when China's old regime took refuge in the aftermath of the Communist Party's revolution. (more...)
U.S. will reach trade deal with China U.S. will reach trade deal with China
- January 17, 2019

The next round of negotiations would be held in Washington between January 30 and 31 Both sides have set March 1 as the deadline to defuse trade tensions.We're doing very well with our economy . That left the country with a trade surplus of $57.06 billion for the month, compared with analysts' expectations for a surplus of $51.53 billion, up from $44.71 billion in November. (more...)
Airport Worker Strike To Expand To Seven Facilities Airport Worker Strike To Expand To Seven Facilities
- January 17, 2019

The industrial action is scheduled to take place on Tuesday, January 15th, from 2 am to 8 pm local time. Fraport "strongly advises" that all Frankfurt originating passengers avoid going to the airport, and said passengers should contact their airline or travel operator for information. (more...)
United States pursuing charges against Huawei for alleged trade secret theft, report says United States pursuing charges against Huawei for alleged trade secret theft, report says
- January 17, 2019

Reuters could not immediately confirm the report. It comes as the Trump administration is pressing China to take action on questions of technology theft or face additional trade tariffs. sanctions against Iran, and now faces extradition to the United States . US President Donald Trump has also reportedly been considering a ban on Huawei . (more...)
Cathay Pacific makes second first class blunder in two weeks Cathay Pacific makes second first class blunder in two weeks
- January 16, 2019

Less than two weeks after saying it had a ticketing error that sold premium seats at huge discounts , Cathay Pacific Airways has done it again. The airline added that it is looking into the cause of the error, both internally and externally. (more...)
Walmart Bans Woman for Drinking While Riding Cart in Parking Lot Walmart Bans Woman for Drinking While Riding Cart in Parking Lot
- January 16, 2019

The incident reportedly began just after 9 a.m., when officers received a call about a suspicious person in the parking lot. The woman had also allegedly been drinking wine out of the Pringles can to enhance her electric cart joyride experience. (more...)
Top auto awards go to Hyundai and Ram Top auto awards go to Hyundai and Ram
- January 16, 2019

The Genesis G70, which took home the Detroit show's auto of the Year award, had already been named Motor Trend's vehicle of the Year in November. SUV finalists also included the Acura RDX and the Jaguar I-Pace. Jurors voted on the finalists based on segment leadership, innovation, design, safety, handling, driver satisfaction and value for the dollar. The Genesis luxury sedan won a decade ago and was a finalist in 2015. (more...)
M&S reveals the 17 stores that will close next M&S reveals the 17 stores that will close next
- January 16, 2019

The company will now consult staff and listen to any alternative suggestions from them for how to keep the stores open. No stores will close until this process has been completed and, in a statement, the company said it had "the intention of retaining as many people as possible". (more...)
United Kingdom parliament rejects Theresa May's Brexit deal United Kingdom parliament rejects Theresa May's Brexit deal
- January 16, 2019

Brexit supporters cast leaving as a way to break free from a Union they see as overly bureaucratic and fast falling behind the leading economic powers of the 21st century, the United States and China. "I have always believed that the best way forward is to leave in an orderly way with a good deal and have devoted much of the last two years negotiating such a deal", she said. (more...)
McDonald's Loses Big Mac Trademark Across Europe McDonald's Loses Big Mac Trademark Across Europe
- January 16, 2019

The US-based worldwide chain has the right to appeal against the decision. Supermac's managing director Pat McDonagh described today's judgement as a victory for small businesses all over the world. On Tuesday, the European Union agency agreed with McDonagh, saying in its ruling that McDonald's had not been able to prove genuine use of " Big Mac ", either as a restaurant or a food product, the Irish Independent reports . (more...)

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