investment

Many GOP billionaires balked at Jan. 6. They’re coming back to Trump.

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Many GOP billionaires balked at Jan. 6. They’re coming back to Trump.

Nelson Peltz expressed remorse for voting for Donald Trump after the Capitol insurrection on Jan. 6, 2021, but later had breakfast with Trump and other billionaires at his mansion in Palm Beach, Florida. Peltz has stated that he would “probably” vote for the GOP front-runner in 2024. Elite donors who were once critical of Trump are now rediscovering their affinity for him due to fears of President Biden’s tax agenda. Some billionaires are considering supporting Trump financially, including Larry Ellison and Richard Uihlein, while others like Ken Griffin and Peter Thiel remain resistant. Some tech investors and leaders in Silicon Valley who were alienated by Trump’s election-fraud crusade are now coming around to support him. Gary Cohn, who was once critical of Trump, has recently spoken positively about the former president. Robert Bigelow, who criticized Trump after the Capitol riot, has pledged million to a pro-Trump campaign group. Trump is facing financial challenges and is seeking support from wealthy donors to fund his campaign.

Time to Derail NJ TRANSIT Tax Talk

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Time to Derail NJ TRANSIT Tax Talk

The governor of New Jersey broke his pledge by resurrecting a Corporation Business Tax surcharge under a new name to fund NJ TRANSIT as part of his billion FY25 state budget proposal.

Missouri House again votes to cut corporate income taxes. Democrats call it a giveaway

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Missouri House again votes to cut corporate income taxes. Democrats call it a giveaway

The Missouri House passed a bill repealing the corporate income tax, reducing the tax rate from 4% to 3% on Jan. 1 and eliminating it by 2028. The bill would reduce state revenues by at least 4 million when fully implemented.

LG Group to invest $74.4 bln over next 5 years

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LG Group to invest $74.4 bln over next 5 years

LG Group will invest 100 trillion won (.42 billion) within South Korea over the next five years, with half of the investment allocated to future technologies such as artificial intelligence, environmentally clean technology, batteries, auto parts, and next-generation displays.

Balancing Uncle Sam’s Checkbook: Biden’s Tax Proposals | JD Supra

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Balancing Uncle Sam’s Checkbook: Biden’s Tax Proposals | JD Supra

Fact: President Biden’s Fiscal Year 2025 Budget Proposals include new tax proposals such as increasing the corporate alternative minimum tax, increasing the excise tax rate on corporate stock repurchases, limiting corporate tax deductions for certain salaries, increasing the tax cost of private jet usage, limiting benefits for private placement life insurance, expanding the 10% shareholder exclusion from the portfolio interest exemption, and requiring controlled foreign corporations’ taxable year to match the year of its majority U.S. shareholder.

Viewpoint: Taxes, taxes, taxes

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Viewpoint: Taxes, taxes, taxes

Fact: Due to the 2017 Trump/GOP tax legislation, 35 large, wealthy corporations paid less in taxes than they paid to their top 5 executives while receiving federal tax refunds of nearly billion.

Canada’s mild winter disrupts key ice road to remote Arctic diamond mines

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Canada’s mild winter disrupts key ice road to remote Arctic diamond mines

An unusually warm winter in Canada has delayed the opening of a 400-kilometer ice road used by mining companies to access their diamond mines in the Arctic. The delay is the longest in recent years and is due to climate change and the El Nino climate pattern. The warm winter could risk an early closure of the ice road, impacting the transportation of goods to the mines. The lack of infrastructure in the region is a challenge, and mining companies are pushing for a mega infrastructure project to unlock the mineral riches in the area.

Football giants edge closer to own stadium

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Football giants edge closer to own stadium

APOEL Nicosia has entered into a €35 million deal with US-based Cypriot investor Constantine ‘Dinos’ Iordanou to build their own stadium in Kokkinotrimithia.

Missouri House again votes to cut corporate income taxes

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Missouri House again votes to cut corporate income taxes

The Missouri House passed a bill to repeal the corporate income tax, gradually reducing the rate from 4% to 0% by 2028. The bill is estimated to reduce state revenues by at least 4 million when fully implemented. Democrats opposed the bill, arguing that corporations should contribute to government operations. The state has a surplus of .4 billion, but revenues are lagging. The bill also restricts corporations from claiming tax credits against corporate tax liability once the rate is cut to zero.

Government of Bermuda to Introduce Corporate Income Tax | JD Supra

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Government of Bermuda to Introduce Corporate Income Tax | JD Supra

Fact: The Government of Bermuda enacted legislation in December 2023 to introduce a corporate income tax regime with a statutory rate of 15% effective for fiscal years beginning on or after 1 January 2025.