Business, Financial & Legal News - Page 2
This past Wednesday, the House of Representatives has passed a bill that extends the deadline to apply for the Paycheck Protection Program loans during the coronavirus pandemic.
According to CNBC, the House has voted to extend the deadline for the Paycheck Protection Program that small businesses can apply for. The Paycheck Protection Program is aimed at assisting small businesses to keep employees on and working throughout the many closures due to the pandemic. The Senate has already approved of the extension, which extends the deadline to request Paycheck Protection Program loans to August 8th, from June 30th.
On top of that, lawmakers have also passed a bill that changes the conditions for getting loans forgiven. This has been done by reducing the share of funds businesses are required to spend on payroll, while also extending the amount of time they have to spend the money. The House passed the bill with a unanimous vote, and now it's headed to President Donald Trump for his signature.
The second coronavirus stimulus check that's on the way might not be rolled out to everyone, but instead, it could be more specifically targeted.
Last week, President Trump confirmed that a second coronavirus stimulus check is on its way, and that Americans could expect the second round of payments heading their way sometime soon. Now, the main question on everyone's mind is how much will this second coronavirus stimulus check entail, and who will be eligible for it? Well, from the recent rumblings we have heard, we can expect that this second round of payments will be much more targeted towards specific people/businesses, instead of a widespread cash injection to every American.
Having a more targeted approach will allow the government to save taxpayer money, while also being able to throw in an incentive that gets Americans back out there spending money in the economy. If this is true, it could mean that people who received the first payment may not necessarily be eligible for the second round of payments. If we take into account the categories of people who received and didn't receive the first round of payments, we can predict the people in the following categories will get the second payment:
President Trump has been "temporarily suspended" from Twitch, with the Amazon-owned streaming giant saying that his broadcast of his Tulsa rally recently -- on top of a recent re-airing of one of his 2016 campaign stops.
Twitch claims that these two broadcasts violated their hateful conduct and harassment policies, with Twitch bringing down the ban hammer for President Trump's "negative comments about Mexican migrants".
What got President Trump temporarily suspended from Twitch? This: "Hey, it's 1:00 o'clock in the morning and a very tough, I've used the word on occasion, hombre, a very tough hombre is breaking into the window of a young woman whose husband is away as a traveling salesman or whatever he may do".
One significant update to the 2020 iPad Pro was the inclusion of Apple's A12Z chipset for LiDAR. The LiDAR data the iPad Pro is gathering has been reported in the past by analyst Jon Prosser to not be all about the iPad itself. The data being collected is rumored to be used in the Apple Glass product for enhanced AR.
According to a recent leak, Apple intends to make a big push in the AR segment with its Apple Glass. The AR glasses are said to make use of data from its own integrated LiDAR sensor. It remains unclear if the iPad Pro is sending any AR data back to Apple to be used in the Apple Glass product in the future.
Apple is rumored to launch the Apple Glass AR device in 2021, meaning we are a ways out from real information on Glass. Apple has promoted the LiDAR scanner inside the iPad Pro for AR applications in the past. That capability allows users to overlay virtual objects with physical objects in their environment.
Well, things just got serious with the Coca-Cola Company pulling the plug -- at least temporarily -- on all digital advertising across all social media platforms globally for at least 30 days.
The global soda giant announced the news late Friday night, saying it would pause digital advertising on social platforms for 30 days beginning July 1, 2020. What's the reason? A boycott of Facebook and Instagram that has been organized by the Anti-Defamation League, the NAACP, and other organizations that have morphed into the "Stop Hate for Profit" campaign.
The Coca-Cola Company only talked about removing advertising on Facebook and Instagram, but we should see the boycotts affecting Twitter, YouTube, and other social media platforms.
Apple wants to continue the design trend of thinner laptops in the coming years. The challenge is as hardware gains performance, it also starts to make more heat requiring more robust cooling systems. The desire for comfortable typing also requires better keyboards. The result is the need for thicker machines.
Apple has a new method that it is reportedly working on that will make future MacBooks thinner. It's not a new cooling system; it's said to be a new retractable keyboard. The retractable keyboard is an attempt by Apple to balance the customer's need for something they can type on with the need for thinness.
The keyboard will reportedly retract into the MacBook Pro enclosure. The tip of the retractable keyboard comes from a patent for "Retractable Keyboards" that was filed by Apple. Apple isn't first in looking to build retractable keyboards. IBM had a retractable keyboard in the past that would expand out of the sides of the laptop when the lid was opened.
Apart of the government's response to the coronavirus pandemic was to inject $1,200 checks into American's pockets that were eligible. Another aspect of the response by the government was to increase unemployment assistance.
All of this response by the government came under the CARES Act that Congress pushed through in March. Apart of the CARES Act was the increase in unemployment benefits, which saw a $600/week boost in unemployment insurance. At the end of next month (July 31) this benefit is set to expire, but by then, we can expect a second stimulus check to be rolled out, find out more on that here.
In the meantime, it should be noted that if you haven't claimed the $600-per-week unemployment benefit for the weeks between March 28 and July 31, you might be able to do so as back pay. According to The Penny Hoarder, "Individuals that qualify for the (Federal Pandemic Unemployment Compensation) $600 payment for weeks they are eligible ... can be paid, even if not approved prior to the (July 31) deadline".
With the CARES Act coming soon to come to a close, lawmakers are proposing new ideas to incentivize people to get back out there and spend some money in an effort to start rebuilding the economy.
There have been many proposals put forth by lawmakers, and you can check out those other ones you can do so here. Today we will be looking at what has been called the American Tax Rebate and Incentive Program (TRIP) Act, which was proposed by Arizona Senator Martha McSally. According to the newly proposed bill, Americans could see a nonrefundable tax credit of up to $4,000 per adult.
This non-refundable tax credit would be for any expenses racked up while traveling more than 50 miles from your home. If you are wondering what "expenses" means, the bill states anything that includes food, beverages, lodging, transportation, live entertainment events, and business conferences/meetings. If the bill ends up passing, the $4,000 will be applied retroactively to the start of 2020 and will continue throughout 2021. Couples that file for the tax credit will receive $8,000, and an additional $500 for every eligible child.
Back in March, Congress appropriated $2.6 trillion in emergency assistance for struggling Americans across the nation. Now, a bombshell report has come out indicating that $1.4 billion in relief payments went to dead people.
According to a report coming out of the Associated Press (AP), a government watchdog has said this past Thursday that nearly 1.1 million coronavirus relief payments that total some $1.4 billion were misdirected to dead people. Now, political and legal issues are hanging over the taxpayer funds, and the US government has begun to ask survivors to return the money, but it's not clear that they necessarily have to.
There is also the issue of some recipients of the cash injection unknowingly dying from COVID-19 earlier in the year. When billions are thrown out into the economy in a panic, "these are the kinds of things that happen," said Lisa Gilbert, executive vice president of advocacy group Public Citizen. This is undoubtedly a sensitive topic, as many people won't want to return the funds, but Gilbert added, "it's a big number, particularly at this moment when our economy is in free-fall. It's a large amount of taxpayer money that's not doing what it was intended to do."
If you haven't heard the news, President Trump recently confirmed a second coronavirus stimulus package exists, and it will be rolled out to struggling Americans. The question is, when will it be rolled out, and how much assistance will be given to citizens.
This past Monday, President Trump was interviewed by a reporter who asked if a second coronavirus stimulus check was in the works behind closed doors, and if he was planning on rolling out a new package to Americans. Trump replied, saying, "Yeah, we are." Unfortunately, Trump didn't disclose when the package will be rolled out, its contents, or its form. We do know that an announcement is coming within the next couple of weeks, but what can we expect?
We have heard several different proposals for what the next stimulus package could entail, and how much struggling Americans could see arrive in their pocket. The Democratic House of Representatives passed the HEROES Act, which would give $1,200 to each person, or $2,400 to married couples. The amount received would be adjusted based on the resident's income. For a citizen to receive the full stimulus package under this act, they must not earn over $75,000 a year, and that figure is doubled ($150,000) for married couples. The HEROES Act would need to be approved by the Republican-controlled Senate, which is somewhat unlikely.