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Just days after millions of Americans rushed to file their taxes, a new report has revealed just how adept many of the country’s biggest companies remain at avoiding taxes. Nineteen companies among the Fortune 100 paid a rate of less than 10% on their profits when it came to their 2021 federal income taxes. And four of those companies even managed a negative rate — meaning they will effectively enjoy a refund from the federal government, according to a new analysis from the left-leaning… Source link

(Bloomberg) — Tesla Inc. is on pace to wipe off over $100 billion from its valuation in a single session Tuesday with the stock down more than 11% on investors’ concern that Elon Musk may sell shares to complete his $44 billion takeover of Twitter Inc. Most Read from Bloomberg The electric-vehicle maker’s market capitalization is already down nearly $250 billion since April 4, when Musk disclosed that he increased his Twitter stake. That’s a drop of roughly 23%. The dollar value of… Source link

It’s official. Elon Musk is buying Twitter (TWTR) for $44 billion and will take the firm private at the close of the deal pending regulatory approval. And the move is raising a number of questions about Twitter’s future, including whether Musk will change its content moderation practices and reinstate banned users like former President Donald Trump (though Trump says he won’t return to Twitter). Fellow billionaire and Amazon founder Jeff Bezos has questions of his own — specifically,… Source link

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) * Microsoft, Alphabet report later in the day * GE down after it sees 2022 earnings at lower end of forecast * Tesla slides as Musk clinches deal to buy Twitter * Indexes down: Dow 1.56%, S&P 1.90%, Nasdaq 3.03% (Adds comment; updates prices, details) By Bansari Mayur Kamdar and Devik Jain April 26 (Reuters) – The tech-heavy Nasdaq led Wall Street lower on Tuesday with a 3% slump, as… Source link

(Bloomberg) — Wall Street’s favorite FAANG is mired in its worst monthly stock performance in two years and analysts are counting on earnings to pull it out of the tailspin. Most Read from Bloomberg Google owner Alphabet Inc. is down about 13% in April, erasing $237 billion in market value as jittery investors dump growth stocks amid fears of bigger and faster rate hikes thanks to rising inflation. One constant in the turmoil: analysts’ enthusiasm, with zero sell and hold recommendations… Source link

You no longer need to try to mash potato chips on top of your burger. Kraft Heinz (KHC) is out with Heinz Dip & Crunch. The company announced the two-in-one dipping package on Tuesday. It’s got a new Heinz sauce on one side and “salty potato crunchers” on the other side. The product was tested earlier this year at select Jack in the Box restaurants on the West Coast. Now, the product is set to roll out at major retailers, including Walmart (WMT) and Target (TGT), as well as at regional… Source link

President Biden and the Democratic Party face no shortage of challenges heading into the 2022 midterm elections. But inflation is by far the most formidable — and now, according to a new Yahoo News/YouGov poll, Americans say that Republicans (31%) rather than Democrats (26%) can do a better job of “fixing” it. The survey of 1,605 U.S. adults, which was conducted from April 19 to 22, found that 39% select either inflation (33%) or gas prices (6%) as the biggest problem facing America… Source link

If the LeBron James-era Miami Heat marked the peak of what player empowerment can accomplish in the NBA, look no further than the 2022 postseason for its nadir. Absent: LeBron and the Los Angeles Lakers of his vision historically flamed out of the playoffs before they began. Absent as of Monday: A Brooklyn Nets squad built by, of and for Kevin Durant and Kyrie Irving, swept out of the first round in alarming fashion by the Boston Celtics. The two teams that entered 2021-22 as betting favorites… Source link

NEW YORK — Kevin Durant was tired, not broken. Discouraged, but still confident about his personal future with the Brooklyn Nets and his friendship with Kyrie Irving. The Nets were swept by the more cohesive and determined Boston Celtics, a sweep that registered as the first in Durant’s 14 NBA seasons. The same is the case for Irving, who missed a huge chunk of the season due to being unvaccinated against COVID-19. Irving told the media he has no plans on leaving Brooklyn, as he can opt out… Source link

Nic Claxton’s free throw misses certainly can’t be blamed for Brooklyn’s stunning 4-0 series sweep at the hands of the Boston Celtics. But they didn’t help. The Nets forward surpassed Shaquille O’Neal in the NBA record books during Monday’s Game 4 loss. And not in a good way. Claxton missed his first 10 free throws in the 116-12 loss, breaking the record for most free throws without a make to start a playoff game. Per Turner Sports — O’Neal’s employer — Shaq previously held the dubious… Source link