WASHINGTON (AP) — The Justice Department, in a reversal, says the Treasury Department must provide the House Ways and Means Committee former President Donald Trump’s tax returns, apparently ending a long legal showdown over the records.  In a memo dated Friday, Justice’s Office of Legal Counsel said the committee chairman “has invoked sufficient reasons for requesting the former President’s tax information” and that under federal law, “Treasury must furnish the information to… Source link

The growing spread of the COVID-19 Delta variant is creating an increasingly stark choice that could make the difference between more reopenings — or a return to restrictions that decimated the world’s economy, a World Health Organization expert suggested on Friday. Amid the leak of internal documents from the U.S. Centers for Disease Control and Prevention (CDC), comparing the transmissibility of Delta variant to that of chickenpox, new discoveries are sparking furious debate about how… Source link

One early bitcoin (BTC-USD) investor has crunched the numbers on the crypto, and thinks it’s looking mighty undervalued at the moment.  “We did a study showing the number of people using bitcoin over the years and price of bitcoin. Both of those data series went up by an order of magnitude every two years. If that kept going, that would put bitcoin at $700,000 when everybody with a smartphone uses it. Ten years time is a reasonable forecast,” Pantera Capital founder Dan Morehead said on Source link

The sweeping federal antitrust case against Google has given rise to a significant fight over data held by Microsoft, and the company is now facing a subpoena for millions of documents that could shed light on its attempts to compete with Google’s search engine. Having initially cooperated with prosecutors in building an antitrust case against Google, Microsoft could be obligated to produce millions more documents at the request of Google’s defense team. At a status hearing on Friday… Source link

There was one relatively abnormal metric in Restaurant Brands’ (QSR) second quarter earnings release on Friday — a 2.5% same-store sales decline at Popeyes U.S. The result marked a continued U.S. sales slowdown for arguably the creator of the current fast-food chicken sandwich craze. From the fourth quarter of 2019 (when the Popeyes chicken sandwich insanity kicked off) through the third quarter of 2020, Popeyes U.S. saw same-store sales gains of 34% to 17.4%. But the sales trajectory has… Source link

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)    * Amazon falls as sales growth slows    * Pinterest sinks on saying U.S. user growth stalling    * U.S. consumer spending rises in June, inflation increases    * Indexes off: S&P 0.35%, Nasdaq 0.71%, Dow 0.08% (Updates to open)    By Sagarika Jaisinghani    July 30 (Reuters) – The Nasdaq and S&P 500 indexes fell on Friday following a glum quarterly earnings report from… Source link

(Bloomberg) — AbbVie Inc. beat expectations for second-quarter profit and revenue and raised its adjusted profit guidance for the year as sales rebounded from last year’s pandemic disruptions, helped by the purchase of Allergan. Adjusted earnings for the year will be $12.52 to $12.62 a share, AbbVie said, up from a previous range that topped out at $12.57.Revenue was $14 billion for the quarter, a 34% increase from the year-earlier period that beat Wall Street’s projection of $13.65… Source link

Elon Musk unveiling of the Tesla Model Y in Hawthorne in 2019. A new book doles out the credit and blame for the electric car’s ups and downs. (Frederic J. Brown / AFP via Getty Images) Apple Chief Executive Tim Cook and Tesla Chief Executive Elon Musk are talking on the phone. The 2016 unveiling of the make-it-or-break-it Model 3 is coming soon, but Tesla is in serious financial trouble. Cook has an idea: Apple buys Tesla. Musk is interested, but one condition: “I’m CEO.” Sure, says Cook…. Source link

CEO of The Production Board David Friedberg walks to a morning session at the Allen & Company Sun Valley Conference on July 09, 2021 in Sun Valley, Idaho. Kevin Dietsch | Getty Images David Friedberg is known in Silicon Valley as an early Google executive who started farming insurance company Climate Corporation and sold it to Monsanto for $1 billion in 2013. More recently, Friedberg has gained the nickname Queen of Quinoa on the popular All-In podcast with investors Jason Calacanis, Chamath… Source link

Officials are continuing to raise concerns over the recent rise in COVID case numbers across the country. Not helping matters is the still large number of people who remain unvaccinated. “It is a pandemic of the unvaccinated,” Gov. Phil Murphy (D-NJ) said on Yahoo Finance Live (video above). “It is literally 99.99% likely that the folks who are in the hospital are unvaccinated.” Some states have reached a point in which their elected officials are imposing vaccine mandates for state… Source link