Tag Archives: Profits

Warren Pushes New Corporate Tax on Profits Above $100 Million

Warren Pushes New Corporate Tax on Profits Above $  100 MillionThere would be “no loopholes or exemptions” for the so-called Real Corporate Profits Tax, Warren said. It would be paid on top of what corporations owe under U.S. tax law and apply to profits earned domestically and abroad, preventing companies from shifting profits offshore to avoid the tax. The Massachusetts senator’s plan is part of her initiative to claim the mantle of progressive policy visionary in the large and diverse primary field, and to put meat on the bones of her populist message that corporations and financial elites are rigging the rules at the expense of ordinary Americans.



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Harvard 'shamelessly' profits from photos of enslaved people, descendant claims in lawsuit

Harvard 'shamelessly' profits from photos of enslaved people, descendant claims in lawsuitA descendant of enslaved people has sued Harvard University, alleging that the Ivy League institution has “shamelessly” profited from photos of her ancestors. Tamara Lanier, of Norwich, Connecticut, claims that Harvard has ignored requests to surrender images of a man named Renty, whom she says is her great-great-great grandfather, and his daughter Delia. Lanier is suing Harvard for “wrongful seizure, possession and expropriation” of the images, asking the university to return the photos to her, pay unspecified damages, and recognise her ancestry.



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Amazon pays zero federal taxes for second year in succession despite doubling profits, says new report

Amazon pays zero federal taxes for second year in succession despite doubling profits, says new reportAmazon has paid zero federal taxes for the second year in succession, despite a doubling of its profits, according to a new report. Although the tech giant founded by Jeff Bezos saw its profits grow from $ 5.6bn (£4.3bn) in 2017 to $ 11.2bn (£8.7bn) in 2018, it will actually receive a tax rebate of $ 129m (£100m). “The company’s newest corporate filing reveals that, far from paying the statutory 21 per cent income tax rate on its US income in 2018, Amazon reported a federal income tax rebate of $ 129m,” said the report by the Institute on Taxation and Economic Policy (ITEP), which describes itself as a “non-partisan, non-profit think tank”, based in Washington DC.



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Caterpillar profits up, says demand offsets tariffs hit

Caterpillar profits up, says demand offsets tariffs hitCaterpillar reported a jump in third-quarter earnings behind robust industrial demand and lower taxes on Tuesday and said strong economic conditions would more than offset the hit from tariffs. Sales rose in all three businesses of Caterpillar, which manufactures industrial equipment for the construction, resources and energy and transportation industries. Executives gave an upbeat appraisal of conditions in China, where the company derives about five to 10 percent of annual company sales.



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JPMorgan Chase profits up; warns on geopolitical risk

JPMorgan Chase profits up; warns on geopolitical riskJPMorgan Chase on Friday reported a jump in third-quarter profit on an improving global economy, but warned that geopolitical uncertainty could slow future growth. The bank notched revenue gains across all of its business units, boosted in part by higher interest rates and an increase in overall loans. “The US and the global economy continue to show strength, despite increasing economic and geopolitical uncertainties, which at some point in the future may have negative effects on the economy,” said Chief Executive Jamie Dimon.



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Nintendo annual profits soar 36 percent to $1.27bn on Switch sales

Nintendo annual profits soar 36 percent to $  1.27bn on Switch salesNintendo on Thursday said its annual net profit soared 36.1 percent, thanks to the immense popularity of its Switch console, and announced it was appointing a new president. Shuntaro Furukawa, 46, who currently oversees marketing and other divisions at the Kyoto-based video game giant, will succeed 68-old-year Tatsumi Kimishima, who has headed up the firm since 2015. Nintendo has been on a winning streak, with its Switch console flying off the shelves since its launch last year.



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Boeing reports jump in 1Q profits, lifts 2018 forecast

Boeing reports jump in 1Q profits, lifts 2018 forecastBoeing reported a surge in first-quarter profits on Wednesday and lifted its full-year earnings forecast following a strong performance in commercial aviation and defense programs. The results again reflect broad health in commercial aviation as the airline industry enjoys a more stable financial period and as flying becomes much more common in the Middle East, Asia and other developing regions. A big player in China, Boeing has often been seen as vulnerable to a trade war between the United States and China, a possibility that topped Wall Street’s list of worries earlier this month but has receded of late amid softer rhetoric between Washington and Beijing.



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Jenna Fischer donates her DePauw University event profits to support student protesters

Jenna Fischer donates her DePauw University event profits to support student protestersActress Jenna Fischer visited Indiana's DePauw University on Tuesday to discuss her career and her new book,
The Actor's Life: A Survival Guide, with students. But not long after the event began, students began to protest, voicing serious concerns over their safety at the university. About 15 minutes into Fischer's lecture, an audience member stood up and blew a whistle, according to the IndyStar. Around 100 students, some of whom held protest signs, filled the aisles of the auditorium and began shouting concerns in reference to several recent incidents on campus. SEE ALSO: Starbucks to close all U.S. stores for an afternoon of racial-bias training According to the paper, on April 11, a racist and threatening message in a men's bathroom stall sparked an on-campus investigation, which led to a response from DePauw University President Mark McCoy. In his letter to members of the university community, McCoy listed three other incidents under investigation, including "a homophobic and an anti-Semitic message" found in a bathroom on campus, "an incident of a student engaging in offensive behavior" (reportedly wearing blackface) at the bar, grill, and event center The Fluttering Duck, and "the n-word formed by rocks in the nature park." In video footage shared by event attendee Shannon Samson, students display their signs and yell, "It's not a joke," "Stop excusing this problematic behavior," and "Don't give them protection when they're attacking us." After DePauw University spokesperson Ken Owen asked to continue the event, promising they would take questions, Fischer told the audience, "It's not okay." "In my personal opinion, oftentimes justice requires disruption and interruption of our scheduled lives," Fischer can be heard saying in the video. "I don't know what to say except that I'm so sorry." The actress, who was reportedly made aware of recent events before she took the stage, tweeted a letter on Wednesday to offer the student protesters her additional support. "The student protesters spoke about their experiences and the hate they have been encountering. I could feel the pain, sadness, and fear coming from these students," Fischer shared on Twitter. "…These students need to be heard and they need change." Please read. pic.twitter.com/aQjAF5v7yX — Jenna Fischer (@jennafischer) April 18, 2018 Fischer went on to say that the students had inspired her to donate her speaking fee from DePauw University to the NAACP, The Anti-Defamation League, and the Trevor Project in their names. "My hope is for all people to be respected, accepted, and loved for their individuality and uniqueness," she wrote. "And above all, to be safe." In the letter to students, President McCoy vowed, "Make no mistake, we will take every action available to us to address these incidents," noting that the investigations will continue. WATCH: Beyoncé made history at Coachella and even Adele, who was watching at home, couldn't sit still



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Report: Kushner's Company Filed False Tenant Paperwork That Boosted Property Profits

Report: Kushner's Company Filed False Tenant Paperwork That Boosted Property ProfitsThe family real estate company co-owned by White House adviser Jared Kushner



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Lockheed Martin Has Delivered 265 F-35s (And the Profits are Pouring In)

Lockheed Martin Has Delivered 265 F-35s (And the Profits are Pouring In)The future is looking bright for Lockheed Martin’s F-35 Joint Strike Fighter, which is set for massive growth as the program finally reaches maturity and enters into full rate production. “Our F-35 program, during the fourth quarter we met our joint government and industry commitment by delivering the 66 aircraft in 2017,” Marillyn Hewson, chairman, president and chief executive officer of Lockheed Martin, told investors. Lockheed Martin expects that the program will continue to expand in 2018.



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