New York’s highest court overturned Harvey Weinstein’s 2020 sex crimes conviction due to critical mistakes made by the trial judge. The court ruled that allowing testimony from women who were not part of the charges and cross-examining Weinstein in a prejudicial manner was an abuse of judicial discretion. The decision calls for a new trial.
LeBron James recorded 23 points, nine rebounds, and nine assists as the Los Angeles Lakers clinched a playoff berth with a 110-106 victory over the New Orleans Pelicans.
The University of Southern California canceled the valedictorian speech of Muslim student Asna Tabassum due to safety concerns and tensions surrounding the Middle East conflict. USC Provost Andrew Guzman stated that the decision was made to protect campus security, as discussions about the valedictorian selection had become alarming. Tabassum challenged the university’s rationale, questioning if the decision was solely based on safety. USC faced opposition from groups like Trojans for Israel and We Are Tov, who called for Tabassum’s removal as commencement speaker, citing her social media profile and past views on Palestine and Israel. Tabassum’s invitation to speak was withdrawn without USC reviewing her speech, leading to criticism and calls for her reinstatement from groups like the Council on American Islamic Relations.
– Corporate taxpayers with billion in income would pay 21 percent on their first 0 million in income, 25 percent on 0 million of their income, and 30 percent on billion of their income, resulting in a total tax bill of 6 million and an average tax rate of 27.3 percent.
– Graduated rate of corporate taxation was a feature of the corporate tax until recently.
– Approximately 99.7 percent of corporate taxpayers fall below the thresholds of million in tax payments.
– 87 percent of tax payments are made by corporations above the million tax payment threshold.
– Companies with tax payments of more than 0 million generate about billion in additional tax revenue.
– Tax revenues would increase by about billion in 2019 with the proposed reform.
– The tax code can discourage market power by levying a higher tax on firms likely to exercise it.
– International tax cooperation can limit tax competition pressures and reduce profit-shifting incentives.
– Market power provides a rationale for reconsidering tax preferences for very-high-profit large companies.
– Graduated corporate tax brackets would be straightforward to administer, especially for large companies.
– Tax policy should distinguish the normal return to capital from the above-normal return to capital to improve efficiency and equity of capital taxation.
Mark Cuban is ready to pay 5,000,000 in taxes to the IRS and corrected the number from 8 million after hearing from KPMG.
Fact: Japanese baseball star Shohei Ohtani’s former interpreter, Ippei Mizuhara, has been charged with bank fraud for stealing more than million from Ohtani’s account to cover gambling debts.
A mountain lion killed a 21-year-old man and gravely wounded his younger brother in a remote wooded area near Georgetown, California. The younger brother managed to call for help despite his injuries. Authorities found the mountain lion near the older brother’s body and later killed the animal. The younger brother underwent multiple surgeries and is expected to make a full recovery. This was the first fatal cougar attack in California in 20 years.
Most US recreational vehicles are produced in Elkhart, Indiana, while the Bowlus, a luxury travel trailer, is made in Oxnard, California. The Bowlus is designed to be towed by a Porsche sports car and features a 1930s design with a minimalist interior. Its top-end model costs 0,000. Demand for the Bowlus increased during the COVID-19 pandemic, and the company is now expanding by offering a lower-priced version and selling through dealerships. Bowlus trailers are handcrafted by 35 workers and the company plans to produce 100 trailers this year. The Bowlus was originally designed by a Los Angeles aerospace engineer during the Great Depression and uses a monocoque structural system, making it light but strong. Other companies are also developing luxury and battery-powered trailers, such as Aero Build and Pebble, with prices ranging from 9,000 to 9,900.
– Inditex’s shares rose to a record high after reporting positive early spring sales.
– Sales at constant currencies for Feb. 1 to March 11 jumped 11 percent.
– Annual sales rose 10 percent to a record 36 billion euros in the year to January 2024.
– Inditex’s revenue growth in 2023 topped that of rival H&M.
– The company plans to open Zara stores in Los Angeles, Las Vegas, and Cambridge, Massachusetts, and the first Massimo Dutti store in Miami.
– Inditex has widened its lead over H&M by delivering trends faster and selling more clothes at higher prices.
– H&M reported a 4 percent drop in December and January sales.
– Inditex’s sales growth has slowed compared to the previous year, with a 13.5 percent increase in the first half of spring 2023.
– The company posted an annual net profit of 5.4 billion euros, up 30 percent on the year.
– Inditex plans to invest 900 million euros per year through 2025 on logistics.
– It will spend a total of 1.8 billion euros this year on expanding store space by 5 percent, technology, and improving online platforms in 2024.
– Inditex will start weekly livestreaming shopping services for Zara in the U.S. and UK.
– The company will expand its second-hand business to the U.S. after launching in the UK in 2022.
– Inditex had 5,692 stores worldwide in 2023, 123 fewer than the previous year.
– Inventories in January were 7 percent lower year-on-year.
– The company will increase its dividend payout by 28 percent to 1.54 euros per share.
– Zara began raising prices earlier than H&M in response to inflation and to offer high-fashion pieces.
– Over the last two years, Zara has increased average prices at a slower pace than H&M and others.
– Investors expect Inditex to continue to outperform H&M, with the Spanish group having a higher valuation than peers like H&M, Gap, and Next.
– The annual Academy Awards ceremony celebrates the best performances in film, with this year’s event expected to highlight the atomic bomb drama “Oppenheimer.”
– Jimmy Kimmel is the host for the fourth time, and the ceremony takes place at the Dolby Theatre in Los Angeles, broadcast live on ABC at 4 p.m. PDT.
– “Oppenheimer,” directed by Christopher Nolan, has 13 nominations and is the frontrunner for the best picture prize.
– The Oscars aim to celebrate two global hits, “Oppenheimer” and “Barbie,” which together earned .4 billion at the box office.
– Oscar producers plan unannounced cameos and surprises for the audience.
– Ryan Gosling and members of the Osage Nation are set to perform nominated songs from “Barbie” and “Killers of the Flower Moon,” respectively.
– Cillian Murphy is favored for best actor for his role in “Oppenheimer,” and Lily Gladstone is a contender for best actress for “Killers of the Flower Moon.”
– “Barbie” may win the original song prize for Billie Eilish’s ballad “What Was I Made For?” and could also receive awards for costumes and production design.
– Christopher Nolan could win his first directing Oscar and the award for adapted screenplay with “Oppenheimer.”