The White House is warning the U.S. may consider another military response to the latest rocket attack early Wednesday that hit an air base in western Iraq where American and coalition troops are housed. (March 3)
The White House is warning the U.S. may consider another military response to the latest rocket attack early Wednesday that hit an air base in western Iraq where American and coalition troops are housed. (March 3)
The smart retail devices market in North America is expected to grow from US$ 5,838. 00 million in 2019 to US$ 8,842. 87 million by 2027; it is estimated to grow at a CAGR of 5. 8% from 2020 to 2027. Animatronics is the process of manufacturing and operating lifelike robots that are used for entertainment or films, whereas robotics is the process of designing, constructing, and operating robots.New York, April 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Smart Retail Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology, and Application" - https://www.reportlinker.com/p06065025/?utm_source=GNW Robots offer enhanced services such as data collection for understanding customer behavior, personalized services, improved in-store services, and enhanced logistics and delivery of goods. Furthermore, the growing adoption of robots by prominent retail chains such as Walmart is expected to drive the market. For example, in January 2020, Walmart introduced its robot – Alphabot. The robot can pick and pack orders 10 times faster than humans. The increasing competition in the retail industry is encouraging large enterprises such as Amazon, Walmart, and Kroger to invest in smart technologies such as robots to understand customer behavior, offer enhanced shopping experience, ensure better inventory management, and reduce logistics and delivery time. Therefore, the growing adoption of robots and animatronics to provide enhanced shopping experience to customers is driving the North America smart retail devices market. Additionally, the rising need for smart transportation is among the other factors expected to fuel the demand for smart retail devices in North America.Based on technology, the smart labels segment led the North America smart retail devices market in 2019.The implementation of smart labels enables retailers to enhance customer engagements and provide better shopping experience.The technology helps them update product information and pricing in real time.Further, customers can access the product information on their smartphones by merely tapping the smart labels.Digital smart labels enable retailers to automate the large-scale pricing process; moreover, they can update the shelf edge pricing remotely and integrate them with retail POS systems.Further, improvements in wireless connectivity are catalyzing the advancements in smart electronic shelf labels, thereby ensuring more effective information access for customers.In 2019, Smartrac Technology Group and Compass Marketing, collaboratively, delivered new Smart Retail Label (SRL) tags to the Modern Retail Collective store in the Mall of America, Minnesota. Customers can access product details with a simple tap on the SRL tags; they can access this information on their smartphones without the need for a specific app.North America is one of the most critical regions for the adoption and growth of new technologies.It is due to favorable government policies to boost innovation, the presence of a vast industrial base, and high purchasing power, especially in developed countries such as the US and Canada.Hence, any impact on the growth of industries is expected to affect the region’s economic growth negatively.The US is a significant market for smart retail devices, especially in retail and transportation & logistics sectors.The massive increase in the number of confirmed cases and rise in reported deaths in the country is affecting the retail sector.The factory and business shutdowns across the US, Canada, and Mexico are negatively impacting the adoption of the smart retail devices.North America is a home to many manufacturing and technology companies. Thus, the coronavirus outbreak’s impact is anticipated to be quite severe in the year in 2021 also. Hence, the ongoing COVID-19 crisis and critical situation in the US will impact the smart retail devices market growth negatively for the next few quarters.The overall North America smart retail devices market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.The process also serves the purpose of obtaining an overview and forecast for the North America smart retail devices market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the North America smart retail devices market. Caper Inc.; Diebold Nixdorf, Incorporated; Intel Corporation; LG Electronics; NVIDIA CORPORATION; Panasonic Corporation; PAX Global Technology Limited; Samsung Group; SoftBank Robotics; and Zebra Technologies Corporation are among the key players operating in the North America smart retail devices market.Read the full report: https://www.reportlinker.com/p06065025/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________ CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001
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Stock futures pointed to a higher open Friday morning, steadying after selling off sharply on Thursday following a report that President Joe Biden was eyeing a proposal to increase the capital gains tax rate on wealthy individuals.
U.S. factory activity powered ahead in early April, but manufacturers increasingly struggled to source raw materials and other inputs as a reopening economy leads to a boom in domestic demand. Data firm IHS Markit said on Friday its flash U.S. manufacturing PMI increased to 60.6 in the first half of this month. A reading above 50 indicates growth in manufacturing, which accounts for 11.9% of the U.S. economy.
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(Bloomberg) -- Mattel Inc. shares jumped to a four-year high after the toymaker beat Wall Street’s estimates for the first quarter and raised its outlook for all of 2021.Revenue rose 47% to $874 million on soaring doll sales, Mattel said Thursday, beating analysts’ predictions of $684.8 million and marking the fastest growth in at least 25 years. The company reported a loss of 10 cents a share, excluding some items, but that was far less than the 33-cent loss analysts had predicted.The El Segundo, California-based company is bouncing back from disastrous results a year ago, when the pandemic wiped out stores and led to factory closings and production delays. Barbie and American Girl doll sales led the rebound, particularly in North America, with worldwide billings soaring 69%.Mattel now expects sales to rise 6% to 8% in 2021, an increase from its previous projection of a mid-single-digit gain in revenue. Earnings before interest, taxes, depreciation and amortization will be $800 million to $825 million, about $25 million more than estimated in February.“Following the third consecutive quarter of growing market share, we are strengthening our position as a consistent leader in the toy industry,” Chief Executive Officer Ynon Kreiz said in a statement. “We believe we are very well-positioned to improve profitability and accelerate top-line growth in 2021 and beyond.”Mattel rose as much as 12% to $23.31 in New York trading Friday, the highest price for the shares since April 2017. The stock had already advanced 20% this year through Thursday, mostly as Barbie sales continue to outperform.The company has worked to improve profitability through cost cuts and other measures, and its adjusted gross margin increased to 47% from 43.5% a year earlier. Further, its credit rating has improved after the company was downgraded to junk in 2017, when sales and margins were tumbling. It completed a $1.2 billion refinancing over the quarter, reducing annual interest expense by $40 million.(Updates with shares starting in first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
A Russian court sentenced a senior lecturer at an aviation institute to 20 years in jail on Friday after finding him guilty on treason charges, it said, the latest in a series of such cases. The Moscow City Court said it had found A.G. Vorobyov guilty of illegally exporting technology or technical information that can be used to develop weapons. RIA news agency identified him as Alexei Vorobyov and said he worked at the Moscow Aviation Institute.
(Bloomberg) -- Intel Corp., the biggest chipmaker, fell the most in three months after reporting a drop in data center revenue and a steep decline in gross profit margin, a sign it’s losing market share to rivals and customers who are designing their own components.The PC business performed better on continued demand for laptops that run Intel processors. But the company’s Data Center Group generated first-quarter sales that fell 20% from a year earlier and missed Wall Street estimates. The unit is Intel’s most profitable businesses, so the lower revenue dented overall margins.New Chief Executive Officer Pat Gelsinger inherited a company that’s struggling with production technology that was once the foundation of its industry dominance. Delays have allowed other chip companies to catch up and tempted customers to design their own components. Intel argued the server business is going through a temporary slump caused by too much inventory. The first quarter was the bottom and growth has returned, executives said.That didn’t diffuse questions from analysts on a conference call focused on whether Intel is losing market share and when profitability will start to expand. Gelsinger said Intel is now in “investment mode” during a critical period for its return to leadership, and promised he’ll deliver products that are again the best in the industry.“The days of Intel having a stranglehold on this business have gone,” said Logan Purk, an analyst at Edward D Jones & Co. “The competitive landscape has shifted and it’s shifted quickly. That is going to weigh on this business.”Intel said its gross margin, the percentage of revenue remaining after deducting the cost of production, was 55.2%, down more than five percentage points from the same period in 2020. This is a key indicator of the strength of its manufacturing and product pricing. Intel has historically delivered margins above 60%.The shares fell as much as 7.5% to $57.90 as trading opened Friday in New York. It was the biggest drop since Jan. 22. Investors had been optimistic about Gelsinger’s recovery plan, pushing the stock up 26% this year through Thursday, after it declined 17% in 2020 and lagged far behind its rivals.The Santa Clara, California-based company raised its full-year sales forecast slightly to $72.5 billion. While that’s down from last year’s record $77.87 billion, the company still gets multiple billions of dollars more in sales than faster-growing Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. Those companies though, have passed Intel in manufacturing technology and are spending heavily to maintain the gap with budgets the U.S. company will struggle to match, according to Purk of Edward D Jones.Amazon.com Inc. and other big cloud providers are designing more chips in-house for their data centers. These businesses have been major Intel customers for years, so the trend is a concern for the company and investors. Advanced Micro Devices Inc. has also rolled out more competitive data center processors recently.Read more: Amazon Is Designing Its Own Chips in Yet Another Blow to IntelIntel said sales of chips to cloud service providers fell 29% from the same period a year earlier. That huge drop, according to Intel, was caused by “digestion” -- customers pausing orders while they work through unused stockpiles of chips.While this has happened before and rebounds have followed, investors are increasingly concerned that delays in new Intel products have led this crucial group of customers to shop elsewhere and they won’t come back.Gelsinger’s revival plan is getting a boost from the PC market, though. The Covid-19 pandemic forced millions of people to work and study from home, driving a surge in purchases of laptops and other computer gear.Intel’s PC chip division had first-quarter revenue of $10.6 billion, up 8% from a year earlier. Analysts projected $10 billion.Gelsinger said there’s no sign of a slowdown in PC demand. The company’s 2021 forecast is constrained by supply shortages, while profitability is being squeezed as costs increase and the company competes aggressively to win market share, he added.“We are here to win and we’re going to be very competitive in our approach to gain market share,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Stocks rose as traders assessed a batch of corporate results and fresh economic data. The dollar fell. Treasuries stabilized.A gauge of output at U.S. manufacturers and service providers reached a record high in April, adding to evidence of stronger demand. Most major groups in the S&P 500 advanced, with the gauge still on track for a weekly decline. Snap Inc. rallied as the social-media company’s user growth beat analysts’ estimates, while footwear maker Skechers USA surged on an upbeat outlook. Intel Corp., the biggest chipmaker, dropped after reporting a slide in data-center revenue and a steep slump in gross profit margin. American Express Co. sank on disappointing revenue data.There has been a positive note in much of the Purchasing Managers Index data published Friday around the globe. Japan’s manufacturing activity expanded for the third month in a row ahead of much of the country entering a state of emergency. The euro area saw its recovery gain ground with services returning to growth in April and manufacturing expanding at a record pace.Other corporate highlights:Kimberly-Clark Corp., the maker of Scott toilet paper, slid on steep sales declines that signaled the potential end of a boon triggered by the pandemic.Honeywell International Inc. sank as the industrial giant’s midpoint of its full-year profit forecast missed Wall Street’s estimates.Schlumberger, the world’s biggest crude contractor, said it expects a gradual recovery of oil demand to boost overseas work through the end of this year.Equities whipsawed this week, with a flare-up in global coronavirus cases and news that the White House plans to propose almost doubling the capital-gain tax rate for the wealthy added to the volatility. With stocks trading near all-time highs, traders also waded through earnings reports and economic figures to get a sense on the rebound in activity amid a vaccination rollout.“A phrase I have heard a lot over the last couple of weeks is that the market is in a ‘wait and see’ mode,” wrote Chris Iggo, chief investment officer of core investments at AXA Investment Managers. “The consensus is clear, and we are waiting for the data to confirm that the global economy is at the beginning of a long expansion.”Comparing U.S. stocks to high-yield bonds makes equities “look less stretched,” according to Jeroen Blokland, a manager of multi-asset funds at Robeco. While the Cboe Volatility Index, or the VIX, set a 14-month low last week, the yield spread for the Bloomberg Barclays U.S. Corporate High-Yield Index reached its narrowest since July 2007 in the previous week. “Equities are relatively attractive versus high yield” on this basis, he wrote in a blog post.These are some of the main moves in markets:StocksThe S&P 500 rose 0.3% at 9:49 a.m. New York time.The Stoxx Europe 600 Index decreased 0.6%.The MSCI All-Country World Index gained 0.1%.CurrenciesThe Bloomberg Dollar Spot Index fell 0.3%.The euro climbed 0.4% to $1.2068.The Japanese yen appreciated 0.3% to 107.62 per dollar.BondsThe yield on 10-year Treasuries rose one basis point to 1.54%.Germany’s 10-year yield decreased two basis points to -0.27%.Britain’s 10-year yield fell one basis point to 0.729%.CommoditiesWest Texas Intermediate crude fell 0.2% to $61.33 a barrel.Gold rose 0.4% to $1,789.30 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The market is estimated to grow with a CAGR of 9. 7% from 2020 to 2027. The growth of this market is attributed to the key driving factors such as the rising need for cattle tracking solutions and an increasing demand in dairy farming applications.New York, April 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Smart Collar Tags for Cow Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Type ; Application" - https://www.reportlinker.com/p06065024/?utm_source=GNW However, the market is expected to experience slow growth during the forecast period owing to the availability of substitute technologies.The introduction of the Internet of things (IoT) technology in the livestock industry brought new solutions for dairy farmers to manage the livestock more effectively.New smart technologies, such as real-time animal activity monitoring, automated feeding systems, and health tracking devices, have boosted the revenue margin for dairy farmers.The cost-saving benefits experienced after mounting the collars on a cow is one of the key factors for the market growth.Dairy farmers and ranchers are adopting smart collars to locate and monitor the cow’s activities.The IoT-based cattle-tracking collar offers remote visibility of the livestock locations.Securing and protecting the cows from natural disasters, theft, injury, and organized crime are among the key factors augmenting the adoption of these collars in a livestock monitoring application.Rising awareness about IoT technology among livestock owners and farmers is supplementing the market growth.Growing inclination of dairy farmers and ranchers toward smart agricultural practices and livestock monitoring solutions is mounting the demand for smart collars.Companies are further improving the solution by integrating advanced sensors for enhanced monitoring and tracking features.For instance, Sigfox—a provider of the IoT technology—offered a series of wireless monitoring devices for livestock, including collars and tags.Ranchers are using smart livestock collars offered by the company to monitor the cattle.Further, the cost-saving benefits of smart collars are increasing their incorporation in livestock tracking applications.The demand for wearable livestock trackers is mounting across the globe, which is supporting the market growth.For instance, according to the Sierra Wireless company prediction, the wearable livestock trackers market is expected to reach US$ 2.5 billion by 2025. Such supporting stats and acceptance of the IoT technology in farming and livestock monitoring applications are driving the market.In the North American region, a slight decline in the demand for smart collar tags for cow was witnessed owing to a halt in the livestock industry.In Canada, livestock farms deemed nonessential were shut down, and the essential farms are subject to public health guidelines.However, positive demand from food & beverages industry, were noticed.Additionally, demand was accelerated due to the expiration of tax incentives and credits offered by the US government for agricultural projects.In December 2020, the government passed the COVID-19 relief bill, extending tax incentives timeline for industries, including agriculture sector.The agriculture industry in the US, including livestock farms, has witnessed growth during the COVID-19 epidemic so far.Further, the US government support for an infrastructure package worth US$ 2 trillion will moderate the impact on demand for smart collar tags used in livestock farms.Based on product type, the North America smart collar tags for cow market is segmented into GPS based, radio based, and others. The radio based segment held the largest market share in 2019 and is anticipated to register the highest CAGR in the market during the forecast period.Based on application, the North America smart collar tags for cow market is segmented into tracking, training, and others. The tracking segment held the largest market share in 2019, whereas the training segment is anticipated to register the highest CAGR in the market during the forecast period.A few of the primary and secondary sources referred to while preparing the report on the North America smart collar tags for cow market are the Food and Agriculture Organization (FAO), the Sierra Wireless company, among others.Read the full report: https://www.reportlinker.com/p06065024/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________ CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001
Leap 10 years into the future – post the COVID-19 pandemic crisis – to find eastern Ontario hospitals in steady decline as years of PC government budget cuts carve billions of dollars from their budgets. This is a future in which patients get even less bedside care and are at much higher risk of hallway medicine, understaffing, readmissions, hospital acquired infections and medical errors, problems that already bedevil Ontario hospitals.
Leap 10 years into the future – post the COVID-19 pandemic crisis – to find hospitals in steady decline as years of PC government budget cuts carve billions of dollars from their budgets. This is a future in which patients get even less bedside care and are at much higher risk of hallway medicine, understaffing, readmissions, hospital acquired infections and medical errors, problems that already bedevil Ontario hospitals.
Airfares soared and demand for private jets boomed Friday as Indians who could afford it scrambled to escape a Covid surge before flights to the United Arab Emirates shut down.
ISELIN, N.J., April 23, 2021 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ:MSEX) announced today that its Board of Directors has declared a cash dividend of $0.2725 per share on its common stock payable on June 1, 2021 to holders of record as of May 14, 2021. Middlesex Water has paid cash dividends in varying amounts continually since 1912 and has increased its annual dividend rate for 48 consecutive years. The Company began mailing its Annual Meeting materials on April 12, 2021. Due to health concerns surrounding COVID-19 and to support the health and well-being of participants, Middlesex Water Company’s Annual Meeting of Shareholders will be held on May 25, 2021 at 11:00 a.m. EDT via webcast only. Shareholders will be able to participate in the Annual Meeting by visiting http://www.virtualshareholdermeeting.com/MSEX2021 and entering the 16-digit control number found on their proxy card, voting instruction form or other materials. Shareholders are reminded to vote their shares whether they intend to participate in the virtual meeting or not. Shareholders may vote their shares in advance of the meeting by one of the methods described in Middlesex Water’s proxy materials. Organized in 1897, Middlesex Water provides regulated and unregulated water and wastewater utility services, primarily in New Jersey and Delaware, through various subsidiary companies. To learn more about Middlesex Water, including information about its Investment Plan, visit the Investor Relations section at https://www.middlesexwater.com. ABOUT MIDDLESEX WATER COMPANY Middlesex Water Company serves as a trusted provider offering life-sustaining high quality water service for residential, commercial, industrial and fire protection purposes. The Company offers a full range of water, wastewater utility and related services. An investor-owned public utility, Middlesex Water is a professional services provider specializing in municipal and industrial contract operations and water and wastewater system technical operations and maintenance. The company and its subsidiaries form the Middlesex Water family of companies, which collectively serve a population of nearly half a million people in New Jersey and Delaware. Named a 2020 Top Workplace in New Jersey, Middlesex is focused on meeting the needs of our employees, customers, and shareholders. We invest in our people, our infrastructure and the communities we serve to support reliable and resilient utility services, economic growth and quality of life. To learn more about Middlesex Water, visit https://www.middlesexwater.com/. Please follow us on Facebook, Twitter and LinkedIn. This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, our long-term strategy and expectations, the status of our acquisition program, the impact of our acquisitions, the impact of current and projected rate requests and the impact of our capital program on our environmental compliance. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: general economic business conditions, unfavorable weather conditions, the success of certain cost containment initiatives, changes in regulations or regulatory treatment, availability and the cost of capital, the success of growth initiatives and other factors discussed in our filings with the Securities and Exchange Commission. Contact:Bernadette Sohler, Vice President – Corporate AffairsMiddlesex Water Company(732) 638-7549www.middlesexwater.com
J.Lo is clearly sending a message with these shots.
Ministers were today told to “come clean” amid claims that civil servants were unable to buy protective equipment quickly at the height of the pandemic because they were “drowning” in offers from suppliers with links to the Government. According to emails released at a High Court hearing, civil servants were bombarded by “VIP companies” wanting to “jump the queue” for lucrative contracts. Shadow Cabinet Office minister Rachel Reeves said the revelations were “beyond shocking” that companies “without the right certification” were able to jump it.
Fresh off of its public stock listing, video game and metaverse platform Roblox (NYSE: RBLX) is now embracing the real world. It inked a partnership with toymaker Hasbro (NASDAQ: HAS), which will make Roblox-game-inspired NERF blasters, a Monopoly board game, and a NERF experience within the Roblox game platform later in 2021. It's but another indication that Roblox has real sticking power with its young user base and a new way to generate revenue outside of in-game purchases.
(Bloomberg) -- President Joe Biden wants to end the preferential U.S. tax treatment of investment income that has benefited the nation’s wealthy as he seeks to fund a sweeping new social-spending program. But he will need to overcome a major political hurdle in Congress to do so.The White House plans to propose almost doubling the capital gains tax rate for those earning $1 million or more, to 39.6%, according to people familiar with the proposal. That wouldn’t affect many. Only about 0.32% of American taxpayers reported adjusted gross income of more than $1 million and capital gains or losses on their returns, according to Internal Revenue Service tax return data from 2018.The move would send the top federal rate on the appreciation in assets sold by the rich as high as 43.4% when including a surtax to help pay for Obamacare. And it would upend a century-old precedent of under-taxing investment relative to wages and salaries.White House Chief of Staff Ron Klain emphasized in a tweet Friday that the proposal, which Biden “campaigned on extensively, changes the tax rate for less than 1% of Americans (in fact, less than 1/2 of 1% of Americans).”Surging stock and property prices over the past year only strengthened the Biden team’s determination to follow through on campaign pledges to demand higher taxes from the best-off. The president is betting the initiative will be popular enough to win passage in Congress, where he can’t lose a single Democratic vote in the Senate and only a handful in the House, since Republicans are likely to be united in opposition.Stocks dropped the most in more than a month on the news Thursday, with the S&P 500 Index closing down 0.9%, though trading Friday showed some stabilization. The index was up 0.3% as of 9:35 a.m. in New York.“If a 1% fall in stock prices is all that you get from a really major increase in capital gains taxes that’s not a big problem,” Nobel economics laureate Paul Krugman said on Bloomberg TV. “Biden has an ambitious agenda” and to help pay for it, “some significant tax increases are going to be part of the story,” he said.Biden campaigned on equalizing the capital gains and income tax rates for wealthy individuals, saying it’s unfair that many of them pay lower rates than middle-class workers.The new marginal 39.6% rate would be an increase from the current base rate of 20%, the people said on the condition of anonymity because the plan is not yet public. A 3.8% tax on investment income that funds Obamacare would be kept in place, they added.Next WeekWhite House Press Secretary Jen Psaki, asked about the capital-gains plan at a press briefing Thursday, said, “we’re still finalizing what the pay-fors look like.” Biden is expected to release the proposal next week as part of the tax increases to finance social spending in the forthcoming American Families Plan.Other measures that the administration has discussed include enhancing the estate tax for the wealthy. Biden has warned that those earning more than $400,000 a year can expect to pay more in taxes. The White House has already rolled out plans for corporate tax hikes, which go to fund the $2.25 trillion infrastructure-focused American Jobs Plan.Republicans have insisted on retaining the 2017 tax cuts implemented by former President Donald Trump, and argued that the current capital-gains framework encourages saving and promotes future economic growth.“It’s going to cut down on investment and cause unemployment,” Chuck Grassley of Iowa, a top Republican on the Senate Finance Committee and former chair of that panel, said of the Biden capital-gains plan. He lauded the result of the 2017 tax cuts, and said, “If it ain’t broke, don’t fix it.”GOP lawmakers on Thursday called for repurposing previously appropriated, unused pandemic-relief funds to help pay for their counteroffer infrastructure plan. The group underlined opposition to tax increases, other than a potential revamp of the levies that go toward highway funding in a way that would mean higher taxes on electric vehicles.Earlier: GOP Counters Biden With $568 Billion Infrastructure PlanBiden will detail the American Families Plan in a joint address to Congress on April 28. It is set to include a wave of new spending on children and education, including a temporary extension of an expanded child tax credit that would give parents as much as $300 a month for young children or $250 for those six and older.Biden’s proposal to equalize the tax rates for wage and capital gains income for high earners would greatly curb the favorable tax treatment on so-called carried interest, which is the cut of profits on investments taken by private equity and hedge fund managers.The plan would effectively end carried interest benefits for fund managers making more than $1 million, because they wouldn’t be able to pay lower capital gains rates on their earnings. Those earning less than $1 million may be able to still claim the tax break, unless Biden repeals the tax provision entirely.The capital gains increase would raise $370 billion over a decade, according to an estimate from the Urban-Brookings Tax Policy Center based on Biden’s campaign platform.Over HalfFor $1 million earners in high-tax states, rates on capital gains could be above 50%. For New Yorkers, the combined state and federal capital gains rate could be as high as 52.22%. For Californians, it could be 56.7%.“It’s enough to bring fear into the taxpayers’ hearts, whether they are a Republican or a Democrat,” Christopher Boyett, a partner at law firm Holland & Knight who advises high-net worth individuals on tax planning, said of the Biden plan. “People are taking this seriously. It’s a high-anxiety time.”Congressional Democrats have separately proposed a series of changes to capital-gains taxation, including imposing the levies annually instead of when they are sold.“There ought to be equal treatment for wages and wealth,” Senate Finance Committee Chairman Ron Wyden, an Oregon Democrat who’s the chamber’s top tax-writer, told reporters in a phone briefing Thursday. “On the Finance Committee we will be ready to raise whatever sums the Senate Democratic caucus thinks are necessary.”(Updates with White House comment in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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A second thief has admitted carrying out a £25 million raid Tamara Ecclestone’s home. Alessandro Maltese, 45, appeared at Isleworth crown court this afternoon to plead guilty to a charge of burglary conspiracy. Despite the presence of a security team at the £70 million 55-room home near to Kensington Palace, burglars were able to enter and spend almost an hour hunting for valuables.