Business, Financial & Legal News - Page 4
Bill and Melinda Gates have announced their divorce after 27 years of marriage, with the ex-CEO of Microsoft taking to Twitter to announce the news.
The now-split couple wrote together, but published on Bill Gates' personal Twitter: "After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage. Over the last 27 years, we have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives".
"We continue to share a belief in that mission and will continue our work together at the foundation, but we no longer believe we can grow together as a couple in this next phase of our lives. We ask for space and privacy for our family as we begin to navigate this new life".
Last Thursday, the Food and Drug Administration (FDA) announced it will be working towards banning menthol cigarettes across the US.
The FDA Commissioner, Janet Woodcock stated that the reason the FDA is looking to ban menthol cigarettes is because it will help save lives. Woodcock says, "Armed with strong scientific evidence, and with full support from the [Biden] Administration, we believe these actions will launch us on a trajectory toward ending tobacco-related disease and death in the U.S."
Additionally, the FDA said that the menthol flavor masks the harshness of tobacco products, which makes them easier to start using, thus making them more addictive and harder to quit "by enhancing the effects of nicotine." 18.6 million people in the US smoke menthol cigarettes, and out of all Black smokers 85% smoke menthol cigarettes, while 30% of White smokers smoke menthol, according to the FDA.
Elon Musk might be going from strength to strength with Tesla and SpaceX -- but brain-computer interface startup Neuralink lost its co-founder Max Hodak quietly "a few weeks ago".
Hodak took to his personal Twitter to announce the news, where he said: "I am no longer at Neuralink (as of a few weeks ago). I learned a ton there and remain a huge cheerleader for the company! Onward to new things". Neuralink hasn't announced a replacement for Hodak at the time of writing.
Musk and Hodak started Neuralink together, with Hodak barely even a month ago saying that the technology exists right now to "build Jurassic Park if we wanted to". Because that isn't a scary thought at all, given how that went in all of the Jurassic Park movies. In departing Neuralink, Hodak was asked what he plans to do next where he simply replied "Not Jurassic Park".
Elon Musk will be hosting Saturday Night Live on May 8 and with it is a storm of controversy brewing just off the coast, with Musk's appearance on SNL triggering some cast members.
SNL cast members won't be forced to appear alongside Musk on May 8 when he hosts the show, which Musk has teased that he wanted to see "just how live Saturday Night Live really is". I guess this has broken the programming of the SNL cast members brains, with a source telling Page Six: "Speaking historically, if a cast member has been that unhappy, they don't have to do it. ['SNL' boss Lorne Michaels] won't ever make them do anything they don't want to do".
Musk followed him his tweet announcing he'd be hosting SNL with another tweet on April 28 which simply read "The Dogefather SNL May 8" which sent the price of Dogecoin pumping upwards.
Millions of Americans are currently struggling financially because of the COVID-19 pandemic, and while there have previously been stimulus payments rolled out, a fourth one may not be entirely out of the question.
The Biden administration is currently piecing together a new stimulus package that may include another round of relief payments directed at Americans that the COVID-19 pandemic has hit the hardest. Back on March 31st, nearly two dozen Democratic lawmakers wrote a letter to President Biden requesting implementing recurring payments in the next stimulus package.
Democratic lawmakers are requesting recurring direct payments to Americans because evidence shows that direct payments played a pivotal role in keeping millions of Americans out of poverty. A new report from CNET has speculated the different ways a fourth stimulus check could be rolled out to Americans. The four possibilities are as follows; recurring stimulus payments, minimum wage hike, make the child tax credit raise permanent, or renew federal unemployment payments beyond September.
Authorities have announced that a Long Island resident has been scamming investors for a year and a half through a fraudulent startup business.
Matthew Gallagher, age 37, of Rocky Point, has been arrested on Wednesday, April 28, at the Seventh Precinct in Shirley and has been charged with the following; two counts of first-degree scheming to defraud, six counts of second-degree grand larceny, eight counts of third-degree grand larceny, four counts of first-degree identity theft, six counts of issuing a bad check, and one count of third-degree attempted grand larceny.
Gallagher is accused of scamming investors through fraudulent startup business ventures and insurance-related frauds. The number of victims of the scams totals 16, and the scams occurred between November 2019 and April 2021. A report has stated that Gallagher will remain at the Seventh Precinct until he appears in front of a court on April 29. For more information on this story, check out this link here.
Tesla has announced a record quarterly profit for Q1 2021 even in the middle of the on-going pandemic, with $10.39 billion in revenue and $438 million in profit for the three-month period.
The electric car giant has been hit with supply issues, safety investigations after a fatal crash in Texas, the COVID-19 pandemic, Elon Musk and his manic tweets and soon -- and appearance on Saturday Night Live where Musk seems to be ready to see "just how live Saturday Night Live really is".
Technoking of Tesla, Elon Musk, said during the investors call on Monday: "We've seen a real shift in customer perception of electric vehicles, and our demand is the best we've ever seen". Musk added that Tesla has sold 184,800 Model 3 and Model Y electric vehicles, both beating expectations and setting new records for the company. Tesla didn't make any higher-end Model S or Model X vehicles for Q1 2021 -- instead, delivering 2020 Model S and Model X cars from its existing inventory.
The expansion of the federal tax credit that was ushered in with the passing of the $1.9 stimulus bill that Biden signed into law could give select Americans an $8,000 tax credit for 2021.
The Child and Dependent Care Credit expansion has been explained by the finance website Nerdwallet; "The Child and Dependent Care Credit can get you up to 50% of up to $8,000 of child care and similar costs for a child under 13, a spouse or parent who cannot care for themselves, or another dependent so that you can work (and up to $16,000 of expenses for two or more dependents)."
Essentially, the credit will be given to individuals that have two or more dependents, and are already eligible for stimulus by meeting the income requirements. It should be noted that the specifics of this credit are somewhat complicated, but what can be simply understood is that the tax credit will only be available to qualifying people; $75,000 for single filers, $150,000 for married filing jointly and $112,500 for head of household filers. For more information on this story, check out this link here.
The Biden administration is in some hot water, with claims of Intel receiving "staggeringly large" subsidies to build semiconductor fabs in the USA -- but it seems that the Biden administration isn't sending over that money just yet.
According to new FOIA requests submitted by Sam Reynolds on behalf of our friends over at Wccftech, there are "no records or documents suggesting that Intel is getting any government money. TSMC, on the other hand, is receiving support from Arizona - although this is unrelated to the CHIPS Act".
Intel is keen to get semiconductor foundries built on US soil, a move that would drastically boost domestic supply of chips -- with Intel reportedly set to receive 10-digit ($1 billion to $9 billion... a "staggering large" number indeed) in subsidies from the US government. This money isn't coming over, and through the new FOIA requests we still have no idea when it will start flowing into Intel.
A new report has revealed that India's super-rich elite families are fleeing the country on private jets as new travel bans begin to lock down the country.
According to a report from BusinessInsider, India's most wealthiest families are fleeing the country via private jets due to the astronomical number of new COVID-19 cases. The report states that India's ultra-rich are paying tens and thousands of dollars to escape the country as travel bans start to come into fruition.
A private jet company, Enthral Aviation, said that over the last few days, it has received an overwhelming number of requests for private jets. An Enthral Aviation spokesperson said to The Economic Times, "We have requested more aircraft from abroad to meet the demand ... It costs $38,000 to hire a 13-seater jet from Mumbai to Dubai and $31,000 to hire a six-seater aircraft. People are making groups and arranging to share our jets just to get a seat... We've had some queries for Thailand but mostly the demand is for Dubai."