Business
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Worried the IRS is going to audit your tax return? If you make less than $400,000, you can probably relax.
Some clarity is emerging regarding statements from Biden administration officials that no one making less than $400,000 will see higher audit rates by the Internal Revenue Service, which is about to step up its scrutiny of wealthy taxpayers. The Inflation Reduction Act — the tax and climate package enacted last summer — earmarked $80 billion…
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Google puts 80-acre megacampus on hold
Google has halted construction of a proposed 80-acre megacomplex in San Jose, Calif., with no plans to revive the project anytime soon. The stalled project — which won approval nearly two years ago and would have had an estimated economic impact of $19 billion in the region — is the latest apparent victim of an…
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‘Pay the $8’: As celebrities like Alyssa Milano balk at Twitter’s new verification fee, some say they should just pony up
Actress and activist Alyssa Milano is making her thoughts known about paying $8 a month for Twitter’s blue-checkmark verification program. And let’s just say she’s not a fan of forking over the money. This week, Twitter ended its policy of giving users a free ride for such verification. The company has touted additional benefits of…
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Lyft layoffs: Third round to ‘significantly’ slash workforce, new CEO tells workers
Lyft Inc. is laying off a significant part of its workforce, the ride-hailing company’s new chief executive told employees in a Friday email, as he tries to cut costs and keep up with a much bigger rival, Uber Technologies Inc. The Wall Street Journal first reported that the cuts will amount to 30% of the…
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SVB CEO Greg Becker, CFO Daniel Beck resign
SVB Financial Group said in a filing late Friday that Chief Executive Greg Becker and Chief Financial Officer Daniel Beck have resigned this week, with Becker becoming a consultant to SVB at the request of the company. Becker’s consulting work will be on an “as needed basis at no cost to the company,” the company…
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Bitcoin might benefit from U.S. debt ceiling concerns, analysts say
The uncertainty around whether the U.S. will raise its debt ceiling before it is hit in coming months has started to rattle some financial markets as it did in 2011, but it might provide a bullish case for bitcoin, according to analysts at crypto investment company NYDIG. The deadline to raise the U.S. debt ceiling,…
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Alphabet shareholders ask Google to protect reproductive data, make algorithm more transparent
Shareholders of Google parent Alphabet Inc. are asking the search giant to take more steps to protect user privacy over reproductive rights and disclose more about its algorithms. Alphabet GOOGL GOOGsaid shareholders should vote against those proposals, which were listed Friday in a proxy filing for the company’s annual shareholder meeting on June 2. The…
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J. Peterman brand files IPO to trade on Nasdaq as ‘JPO’
Catalog-based clothing and lifestyle brand J. Peterman filed to go public, according to a filing with the Securities and Exchange commission late Friday. The Cincinnati-based direct-to-consumer company intends to trade on the Nasdaq as JP Outfitters Inc. under the ticker “JPO” and grow by acquiring new brands to incorporate into its line. “The… Source
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Google CEO Sundar Pichai receives third $200 million-plus stock award
Alphabet Inc. Chief Executive Sundar Pichai received his third massive stock award since rising to the top of Google, the company disclosed Friday. Pichai received $218 million in stock awards after his previous award cashed in 2022, according to a proxy filing with the Securities and Exchange Commission that was made public Friday afternoon. Alphabet…
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15 great U.S. cities and towns to launch your business
We all know and love the big business hubs across the country, but a host of small and midsize cities are unexpectedly wonderful for entrepreneurship. Sometimes being a big fish in a small pond, or at least a medium fish in a medium pond can have robust benefits. Those might include less competition for resources,…