Climate Law: Can Coal Communities Go Nuclear?
PROVIDENCE, R.I. (AP) – A major economic bill headed to the president has a “game-changing” incentive for the nuclear energy industry, experts say, and those tax credits are even more important if a facility is located in a community with coal. The closing plant. Among the many things the transition bill could do, nuclear energy experts say, is encourage nuclear power projects like Bill Gates’ proposed in Kemer, Wyoming. Companies that design and build the next generation of nuclear power plants can choose one of two new tax credits for carbon-free electricity generation. Both include a 10-percentage-point bonus for facilities located in fossil communities.
Anshu Jain, former CEO of Deutsche Bank, passed away
NEW YORK (AP) — Anshu Jain, the former chief executive of Deutsche Bank, has died, his family said in a statement Saturday. He was 59. Jane died of duodenal cancer, which he was diagnosed with in 2017. Jane was co-CEO of Deutsche Bank from 2012 to 2015, where he helped build the firm’s international capital markets business. He was the first non-European to head a German bank, along with Jürgen Fitzchen as co-CEO. Prior to that, he headed the Corporate and Investment Banking Division from 2010. He left Deutsche Bank and served as President of Cantor Fitzgerald from 2017 until his death.
What takes years and costs $20,000? San Francisco garbage dump
SAN FRANCISCO (AP) — The one that took years to build and cost more than $20,000? Garbage dump in San Francisco. The Dear and Box Bin The city is testing three trash cans this summer as part of a years-long search for another tool to use on its sidewalks. In 2018, San Francisco began its search for the right garbage disposal when they decided it was time to replace the more than 3,000 circular public bins that had been on the streets for 20 years. The amount of trash the city receives is determined in part by feedback from residents. The city built the new landfills in 2011. She promised they would be implemented by the end of 2023 and cost a maximum of $3,000 each.
A deflationary bill may have little effect on inflation.
WASHINGTON (AP) — The House has given final approval to President Joe Biden’s landmark inflation-reduction legislation as inflation worsens to the highest level in four decades. The title raises an intriguing question: Does the measure actually do what it says it does? Economic analyzes suggest the answer is no — anytime soon, anyway. The legislation now headed to the White House for Biden’s signature does not directly address some of the main drivers of price increases — from gas and food to rent and restaurant meals. Still, over time, the bill would save some Americans money by lowering prescription drug costs for seniors, extending health insurance subsidies, and lowering energy prices.
Wall Street extended its winning streak into the 4th week
Stocks are closing higher on Wall Street, giving the S&P 500 its first four-week winning streak since November. The benchmark index gained 1.7% on Friday, and other indexes also rose. Tech stocks led the broader rally. Inflation cooled more than expected last month, lifting stocks. Investors are aware that inflation may be peaking, allowing the Federal Reserve to be less bullish on rate hikes than it has been this year. Crude oil prices fell, while bond yields were mixed.
An expanded IRS free filing system is one step closer to the Dems bill
WASHINGTON (AP) — Major climate change and health care legislation passed by Democrats and soon to be signed by President Joe Biden will bring American taxpayers one step closer to a government-run electronic tax return system. It’s something lawmakers and advocates have been seeking for years. For many Americans, spending extra money on tax preparation programs or preparers on top of paying sometimes hefty tax bills is frustrating because of the increasingly complex US tax system. Treasury Secretary Janet Yellen said, “There’s definitely something we need to do, and when the IRS is given enough resources, something will happen.
Amazon Ring, MGM to launch a show with viral doorbell videos.
NEW YORK (AP) — Amazon-owned companies Ring and Hollywood studio MGM are teaming up to create a TV show called “America’s Funniest Home Videos.” MGM said the half-hour “Ring Nation” program will feature viral footage from the ring. Doorbells and smart home cameras. The series is the latest example of Amazon consolidating its various business arms. It provides a brand and marketing opportunity for Amazon, which bought Ring in 2018. Since then, the company has dealt with privacy issues. Concerns surrounding the ring and its relationship with police departments across the country. The show will be hosted by comedian Wanda Sykes on September 26.
Cinema took Wall Street’s money when it taxed investors
WASHINGTON (AP) – Arizona Democratic Sen. Kirsten Sinema has received nearly $1 million in campaign contributions over the past year from private equity professionals, hedge fund managers and venture capitalists who have advocated her interests in Congress. That’s according to an Associated Press review of campaign finance disclosures. This revelation came after Sinema failed to fulfill his party’s long-term goal of raising taxes on such investors. Sinema said the contributions did not influence her thinking on the matter. But many members of the party see the tax treatment that cinema receives from such investors as indefensible.
Russia’s gross domestic product fell 4% in Q2 – the 1st full quarter of a fight
MOSCOW (AP) — Russia’s gross domestic product rose 4% in the second quarter of this year, the first quarter since Russia sent troops to Ukraine. The State Statistics Service reported the decline on Friday. Following Russia’s incursion into Ukraine at the end of February, several sanctions were imposed, including the suspension of some Russian banks from the SWIFT international transfer system and the deportation of top foreign companies. The report of the Rosstat service did not analyze why this year’s GDP was lower than the same quarter of 2021. However, there was a 15.3% decrease in wholesale trade and a 9.8% decrease in retail trade. Russia has seen strong GDP growth over the past four quarters.
The publisher of USA Today, other papers are asking for the ax to cut costs.
Newspaper publisher Gannett Co. has confirmed that it is laying off some newsroom staff in a bid to cut costs as revenue declines due to declining advertising sales and subscriber subscriptions. The McLean, Virginia-based company declined to provide details on the number of people losing their jobs. Gannett, which owns USA Today and more than 200 other American newspapers in its print editions, laid off more than 16,000 workers last year, according to the company’s annual report. Its payroll includes more than 4,200 reporters, editors and photographers.
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