For years some of the wealthiest Americans have paid little to no federal income tax thanks to US laws that don’t recognize unrealized gains, such as stocks or property, as taxable income. Amazon founder Jeff Bezos paid no federal income tax in 2007 or 2011, a 2021 ProPublica investigation found, while Tesla CEO Elon Musk did the same in 2018.
This piece has ben updated.
Uber customers may soon be able to hail a New York City cab through the app, thanks to a partnership between the ride-share company and two taxi-hailing platforms.
The US plans to welcome up to 100,000 Ukrainian refugees fleeing the war with Russia, the White House said today. More than 3.6 million refugees have fled Ukraine, according to the UNHCR, with most going to neighboring Poland.
Philanthropist MacKenzie Scott has donated $3.9 billion to 465 different non-profits since last June, she said in a blog post today (March 23).
An estimated $195 billion worth of US student loan payments has been waived since the federal government enacted a freeze in March 2020 in response to the coronavirus pandemic.
The Securities and Exchange Commission (SEC) is pushing back on efforts by Tesla CEO Elon Musk to end a settlement with the agency that requires him to show tweets containing material business information to a company lawyer before sending them out.
Russian oligarchs targeted by the West over their connections to president Vladimir Putin are finding ways to evade sanctions by moving their assets elsewhere, whether docking their yachts in sanctions-free countries or keeping property concealed in hard-to-access trusts.
China Eastern Airlines has grounded all of its Boeing 737-800 planes after a flight carrying 132 people crashed in the city of Wuzhou en route from Kunming to Guangzhou today (March 21).
Officials said yesterday (March 20) the Azovstal plant, which is owned by Ukrainian steel and mining group Metinvest, was badly damaged by Russian shelling in the besieged port city of Mariupol.
Since 1985, London gallery owner James Butterwick has been collecting and selling Russian and Ukrainian art, though in recent years he’s started to focus more on the latter than the former. When Russia invaded Ukraine on Feb. 24, he changed his gallery site to specify a focus on Ukrainian and European, rather than Ukrainian and Russian, artworks.
Calls to “Free Brittney” are growing once again on social media, except this time they refer not to pop star Britney Spears, but WNBA player Brittney Griner.
Ukrainian president Volodymyr Zelenskyy, aiming to drum up more international support for his country as it fights a war against Russia, has been tailoring his speeches with imagery and rhetoric to appeal to each nation on his virtual tour.
The price of nickel doubled to $100,000 per ton today (March 8), causing the London Metal Exchange to suspend trading for the rest of the day.
Both the US and UK will ban Russian oil in response to the war in Ukraine, the countries’ leaders announced today (March 8).
The US and its European allies may ban imports of Russian oil in response to the war in Ukraine, US secretary of State Antony Blinken said yesterday (March 6).
Russia’s communications regulator is blocking access to Facebook in the country following efforts by its parent company, Meta, to clamp down on state media over the war in Ukraine.
Electric vehicle (EV) maker Rivian reversed course on a price increase yesterday (March 3) that would have charged customers 20% more than the amount originally listed for their cars. Some Rivian customers canceled their orders after seeing that they would have to pay $10,000 to $20,000 more than expected.
The White House announced additional sanctions against dozens of Russian oligarchs with ties to Russian president Vladimir Putin today (March 3) in response to the war in Ukraine. Eight individuals and their family members will be cut off from the US financial system, see their US assets frozen, and have their property blocked from use, according to the White House. The US will also make it harder for 19 oligarchs, their families, and close associates, to secure US visas.
When Tammy Sun was working at the tech company Evernote back in 2014, she was told by her fertility doctor that she had a low ovarian reserve. On her doctor’s advice she preserved some of her eggs. At age 35, Sun underwent oocyte cryopreservation, or egg freezing, yielding three to four eggs each cycle.
Several years before he became president of Ukraine, Volodymyr Zelenskyy played the role on television. The series, Servant of the People, is now seeing a surge in popularity as Zelenskyy defends his country in a war against Russia.
For decades Russian elites have been stashing their money abroad, often to the benefit of the Kremlin. According to the Atlantic Council, president Vladimir Putin and his associates control (pdf) about one-quarter of the estimated $1 trillion in Russian dark money hidden outside of the country.
Ford is separating its electric vehicle (EV) and traditional auto units into separate businesses in an effort to accelerate its transition to EVs, the company said today (March 2).
This story is being updated.