succession

Supreme Court Holds That A Corporation’s Life Insurance Proceeds Used To Redeem A Decedent’s Shares Must Be Included In Federal Estate Tax Calculation

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Supreme Court Holds That A Corporation’s Life Insurance Proceeds Used To Redeem A Decedent’s Shares Must Be Included In Federal Estate Tax Calculation

June 6, 2024 Click for PDF Connelly v. United States, No. 23-146 – Decided June 6, 2024 Today, the Supreme Court unanimously held that the proceeds from a life insurance policy taken out by a corporation to redeem a decedent shareholder’s stock are a corporate asset for federal estate tax purposes. “An obligation to redeem shares … Read more

Brexit champion Nigel Farage to stand in UK election

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Brexit champion Nigel Farage to stand in UK election

Nigel Farage announced that he will stand as a candidate in the upcoming election and lead the Reform Party, challenging Prime Minister Rishi Sunak’s governing Conservatives for right-leaning voter support.

Iranian President Raisi, ’s memorial muted amid public discontent

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Iranian President Raisi, ’s memorial muted amid public discontent

Fact: President Ebrahim Raisi of Iran was killed in a helicopter crash near the Azerbaijan border along with his foreign minister and seven others.

Election year Trump biopic , ‘The Apprentice’ premieres at Cannes

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Election year Trump biopic , ‘The Apprentice’ premieres at Cannes

Fact: Ali Abbasi’s drama “The Apprentice” premiered at the Cannes Film Festival, focusing on Donald Trump’s rise as a New York real estate mogul.

UK’s infected blood scandal could and should have been avoided, inquiry finds

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UK’s infected blood scandal could and should have been avoided, inquiry finds

An infected blood scandal in Britain led to 3,000 deaths and thousands more contracting hepatitis or HIV due to doctors and governments fault. Over 30,000 people received infected blood in the 1970s and 1980s, destroying lives, with some blood products being made from high-risk donations. The government hid the truth to save face. Prime Minister Rishi Sunak is expected to apologize on behalf of the state. The scandal rocked trust in the medical establishment. The infected blood products were used for transfusions and treatments, with some haemophiliacs receiving Factor 8 concentrates with a high risk of infection. Between 80 and 100 people became infected with HIV by transfusion, and about 26,800 were infected with Hepatitis C. The British inquiry found systemic failures and lack of meaningful apology or redress. The inquiry does not have the power to recommend prosecutions. Former health minister Edmond Herve in France was convicted for his role in the scandal.

Warren Buffett’s Talk With Shareholders: Cash Nears $200 Billion While Still High On Apple

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Warren Buffett’s Talk With Shareholders: Cash Nears $200 Billion While Still High On Apple

– Berkshire Hathaway’s cash pile is projected to exceed 0 billion this year.
– Despite selling off a significant portion of its shares in Apple, Berkshire still views Apple stock favorably.
– Buffett believes selling Apple stock now could help Berkshire pay larger tax rates in the future.
– Buffett expressed concerns about advancements in artificial intelligence and its potential for harm.
– Berkshire is not anticipating making many significant investments outside the U.S., except in Canada.
– Buffett teased his eventual succession and named Greg Abel as his eventual successor.
– Berkshire reported profits of .7 billion in the first quarter of this year, with operating earnings rising 39%.
– Berkshire’s annual shareholders meeting this year was the first without Charlie Munger, who passed away last year.

Arsenal hammer Chelsea to move three points clear at the top

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Arsenal hammer Chelsea to move three points clear at the top

Arsenal defeated Chelsea 5-0 in a Premier League match, with Leandro Trossard, Ben White, and Kai Havertz scoring two goals each. Arsenal is now three points clear at the top of the table with 77 points from 34 games.

Apple supplier Foxconn introduces rotating CEO role

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Apple supplier Foxconn introduces rotating CEO role

Foxconn has implemented a rotating chief executive system to develop future talents and boost corporate governance.

Pending family law bills undergo committee review

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Pending family law bills undergo committee review

Four bills aimed at modernizing Family Law in Cyprus and benefiting children began to be discussed before the Legal Committee of the Parliament. The bills, which have been pending since 2018, have undergone changes based on stakeholder suggestions. The first bill requires both parents to provide accurate information about their property and income for child support determination. The second bill focuses on the child’s welfare, including provisions for double surnames, child opinions, monitoring by experts, and parental counselling programs. The third bill regulates succession cases for assisted reproduction, while the fourth bill addresses paternity evidence in cases of medically assisted reproduction. There are reservations about the bills, with concerns about Social Services meeting deadlines and the removal of shared parental custody. Written opinions on the bills can be submitted within three weeks.