Amazon will pay $0 in taxes on $11,200,000,000 in profit for 2018
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AP Interview: Japan official says Trump misunderstands trade
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Citigroup Inc will record $2.7 billion in litigation expenses and another $800 million in repositioning charges, leaving the third-largest U.S. bank "marginally profitable" in the fourth quarter, its chief executive officer said on Tuesday.
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Billionaire Ken Langone, the founder of Home Depot issued a warning to Pope Francis during an interview with CNBC. In the interview he said that wealthy people such as himself are feeling ostracized by the Pope’s messages in support of the poor, and might stop giving to charity if the Pope continues to make statements criticizing capitalism and income inequality.
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Brother, can you spare a dime?
We are currently witnessing the 'Great Transfer' of wealth from the Greatest Generation to the baby boomers, according to Bank of America's Sarbjit Nahal and Beijia Ma. The Greatest Generation refers to the generation in the U.S. that experienced the Great Depression and then fought in World War II, and was coined by Tom Brokaw.
But Nahal and Ma point out that "a second and even larger wealth transfer from the Boomers to their heirs is starting now and will continue over the next 30 to 40 years."
The great transfer will see a handover of about $12 trillion from those born in 1920s and 30s to the boomers. But the boomers are expected to transfer some $30 trillion in assets to their heirs over the next 30-40 years in just the U.S., they write.
There were 12 million global high-net-worth individual (HNWI) — those with investable assets of over $1 million — in 2012, with aggregate investable wealth of $46.2 trillion.
North America has 3.73 million HNWIs with investable wealth of $12.7 trillion. Asia-Pacific comes in close second with 3.68 million HNWIs, with investable assets of $12.0 trillion.
Only 4 in 10 retirees in the U.S. uses a financial advisor, which means there is a huge opportunity for advisors.
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World's 85 richest individuals have as much money as 3.5billion poorest people PUT TOGETHER
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The U.S. federal appeals court has opened a way for broadband providers to charge for content that are downloaded at faster speeds. This means that there is no longer equal treatment for Internet traffic. By doing so, the appeals court has thrown aside a huge part of the net neutrality rule the Federal Communications Commission (FCC) put in place back in 2010. This move could throw the Intenet into turmoil, along with making it more expensive to visit some websites such as YouTube, Netflix or Facebook.
Yesterday, it was revealed that employees at a Cleveland Wal-Mart are holding a holiday food drive for other Wal-Mart employees.
This situation says everything about what's wrong with the U.S. economy right now.
Wal-Mart is one of the richest companies in the world.
Wal-Mart has a market value of $260 billion and made $17 billion in profit last year.
But Wal-Mart does not pay its employees enough to buy food for the holidays.
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French judges believed Dominique Stauss-Kahn should be prosecuted because he was ‘king of the orgies’ at hotel sex parties
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Meet the Koch Brothers
According to Forbes magazine, brothers Charles and David Koch, co-owners of Koch Industries Inc., stay tied for the fourth richest Americans with $36 billion each, up from $31 billion in 2012.
An Arlington, Va.-based conservative group, whose existence until now was unknown to almost everyone in politics, raised and spent $250 million in 2012 to shape political and policy debate nationwide.
The group, Freedom Partners, and its president, Marc Short, serve as an outlet for the ideas and funds of the mysterious Koch brothers, cutting checks as large as $63 million to groups promoting conservative causes, according to an IRS document to be filed shortly.
The group has about 200 donors, paying at least $100,000 each in annual dues. It raised $256 million in the year after its creation in November, 2011, the document shows. And it made grants of $236 million – meaning a totally unknown group was the largest sugar daddy for conservative groups in the last election, second in total spending only to Karl Rove’s American Crossroads and Crossroads GPS, which together spent about $300 million.
Conservative billionaires and liberal bugaboos Charles and David Koch are believed to have spent nearly $100 million on the 2012 elections, hoping to deny President Obama a second term. With the president firmly in office today, that investment appears to have been largely lost -- money down the drain.
Koch Industries, whose co-founders, Charles and David Koch, are major donors to Tea Party-inspired conservative causes, accused Harry Reid, the Senate majority leader, on Wednesday of spreading “false information” about the brothers by suggesting they are behind the move to end financing for President Obama’s healthcare law and the partial shutdown of the federal government.
“Koch believes that Obamacare will increase deficits, lead to an overall lowering of the standard of health care and raise taxes,’’ Philip Ellender, the company’s chief spokesman, wrote in a letter to senators. “However, Koch has not taken a position on the legislative tactic of tying the continuing resolution to defunding Obamacare, nor have we lobbied on legislative programs defunding Obamacare.’’
Other Koch-backed groups, like Americans for Prosperity and a new group, Generation Opportunity, which is aimed at young people, are working to sow doubts about the health law and to undermine it in other ways, including by persuading Americans not to enroll for health insurance and pressing state lawmakers not to expand Medicaid under the law. Americans for Prosperity alone has run $5.5 million in television advertising against the law over the past three months.
The brothers each own 42 percent of Koch Industries, the second-largest closely held company in the U.S. The company owns Georgia-Pacific as well as oil refineries, fertilizer makers, financial services firms, and dozens of other businesses. Overall, the brothers, each worth $50.5 billion, have about $190 million to their fortunes in 2015.
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