Michigan lawmakers are considering lowering the corporate income tax rate to alleviate the tax burden on businesses still emerging from the pandemic and to make the state more competitive. Senate Bill 392 would retroactively reduce the state’s corporate income tax rate from 6 percent to 5.5 in tax year 2021, and then lower it again
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In this article CCL RCL The cruise ships “Carnival Sunrise” (L) and “Carnival Vista” (R) part of the Carnival Cruise Line, are seen moored at a quay in the port of Miami, Florida, on December 23, 2020, amid the Coronavirus pandemic. Daniel Slim | AFP | Getty Images The Carnival Vista is set to sail
Xpeng Motors launches the P5 sedan at an event in Guangzhou, China on April 14, 2021. The P5 is Xpeng’s third production model and features so-called Lidar technology. Arjun Kharpal | CNBC BEIJING — U.S.-listed electric car start-up Li Auto reported more deliveries than Xpeng in June, putting the latter in last place for the
Sir Richard Branson may be trying to be first in the billionaire space race, but he believes there is plenty of opportunity in the market for companies like Virgin Galactic, Jeff Bezos’ Blue Origin, or Elon Musk’s SpaceX. “There’s room for 20 space companies to take people up there,” Branson said in an interview this
Twenty/20 We may not know what stocks in the S&P 500 will do next month, or in two years, but over the decades, we have a pretty good hunch that they’ll go up. Most of us also know what a stock is, and that definition hasn’t changed in centuries. None of that is true, of
The potential impact of hurricane winds on the search-and-rescue operations at the collapsed Surfside, Florida condominium could make the building structure collapse further, structural engineer Richard Slider warned Friday. “These systems or the concrete columns and slabs that are there now, are already unstable, to a certain extent,” Slider told CNBC’s “The News with Shepard
Rendering of the Krispy Kreme Times Square flagship. Krispy Kreme Check out the companies making headlines in midday trading. Virgin Galactic — The space tourism company’s stock is up 3% after announcing founder Sir Richard Branson will be aboard its next spaceflight test. The stock jumped as much as 25% shortly after the open before
The billionaire space race is heating up again. Virgin Galactic’s Richard Branson now plans to beat his fellow billionaire Jeff Bezos to space next week on a test spaceflight for the British billionaire’s space tourism company that will launch July 11. That’s more than a week before Bezos plans to complete his own spaceflight, along
blackCAT | E+ | Getty Images If you invest through Robinhood, you may get early access to shares when the company goes public. The online brokerage is reserving 20% to 35% of shares to be sold in an initial public offering for its customers, according to its most recent regulatory filing. While it’s uncertain exactly
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In this article UAL DAL JBLU LUV AAL Travelers wait in line at a Transportation Security Administration (TSA) screening checkpoint at Orlando International Airport in May, 2021. Paul Hennessy | SOPA Images | LightRocket | Getty Images The Transportation Security Administration said Friday that airport screenings have climbed above 2019 levels for the first time
In this article JPM COIN Coinbase Founder and CEO Brian Armstrong attends Consensus 2019 at the Hilton Midtown on May 15, 2019 in New York City. Steven Ferdman | Getty Images Federal Reserve Chairman Jerome Powell met in May with Brian Armstrong, the CEO of cryptocurrency exchange Coinbase, central bank records show. The gathering happened
In this article AMZN Andy Jassy, CEO of Amazon Web Services. Patrick T. Fallon | Bloomberg | Getty Images Amazon said in a filing on Friday that it will grant Andy Jassy 61,000 shares of stock on Monday, when he replaces Jeff Bezos as the online retailer’s second CEO. The shares will vest over a
Three sun-and-sand spots — California, Florida and Hawaii — account for a quarter or more of all flights and car rentals this weekend. Erik Isakson | Tetra images | Getty Images As people head into the long July 4 weekend, travel bookings are at last nearing pre-pandemic levels, according to a new analysis from TripIt
In recent years, countries have been debating significant changes to international tax rules that apply to multinational companies. This week there was a breakthrough in discussions, and an outline for the new rules was released by the Organisation for Economic Co-operation and Development (OECD). If today’s global tax agreement is fully implemented, large U.S. companies
A “For Sale” sign is seen in front of a home in Miami, Florida. Joe Raedle | Getty Images Record high home price appreciation is sidelining ever more buyers and finally taking the bang out of the pandemic-induced housing boom. Weekly mortgage demand is falling along with it, down 6.9% for the week according to
In this article REGN NTLA Following a breakthrough trial where gene-editing technology CRISPR completed its first systematic delivery as medicine to a human body, Intellia Therapeutics CEO John Leonard said he hopes the gene therapy could be made available to patients “very, very soon.” “These approaches are subjected to the standard sorts of clinical trials
In this article F Bronco SUVs in production at Ford’s Michigan Assembly plant, June 14, 2021. Michael Wayland | CNBC DETROIT – Ford Motor’s June and second quarter sales were below analyst expectations as a global shortage of semiconductor chips caused significant production cuts and inventory constraints. Ford sold 475,327 vehicles during the second quarter,