Warner Bros. Discovery Stock Takes Hit After $11.2 Billion Loss
Warner Bros. Discovery Announced Quarterly profit (or loss, to be precise) was $11.2 billion, giving it a “B” loss. Warner Bros. Discovery (WBD) reported second-quarter earnings after the close on Wednesday that missed expectations on both revenue and profit and took a huge $9.1 billion impairment charge related to its television networks division. Including an […]
Google antitrust ruling may pose $20 billion risk for Apple
FOX Business’ Lydia Hu reports on how Google may be held liable in the Varney & Co. case. A U.S. court ruling that Alphabet’s search giant is operating an illegal monopoly could threaten lucrative contracts with Apple and Google. Wall Street analysts said Tuesday that Google could end its agreement to make its search engine […]
Coca-Cola to pay $6 billion in back taxes and interest to the IRS
Coca-Cola announced Friday that it will pay $6 billion in back taxes and interest following a settlement with the IRS in a lawsuit dating back nearly two decades. The dispute covers fiscal years 2007-2009, with the IRS alleging that Coca-Cola should have reported higher revenues as a result of international transfer pricing. “We look forward […]
Intel’s massive job cuts come after it received $8.5 billion in taxpayer money
Evolution VC Partners founder Greg Smith analyzes Varney & Co.’s ‘massive’ stock market sell-off Months after the federal government gave Intel $8.5 billion in subsidies to bring chip manufacturing back to the U.S., the company announced it would cut 15% of its workforce, or about 17,000 jobs. The technology company announced the job cuts as […]
Coca-Cola to pay $6 billion in back taxes and interest to the IRS after tax court ruling
In a ruling, a U.S. Tax Court judge in Atlanta ruled that the soda giant owes the IRS $2.7 billion plus interest. Coca-Cola announced Friday that it will pay $6 billion in back taxes and interest following a settlement with the IRS in a lawsuit dating back nearly two decades. The dispute covers fiscal years […]
2023 Lahaina Wildfire Lawsuits Nearing $4 Billion Settlement
Hawaii’s Democratic governor said Wednesday that parties in a lawsuit over the 2023 wildfires are close to a settlement. The lawsuit was filed against the state, Maui County and public utilities in response to a devastating wildfire that ravaged Lahaina in August 2023 and caused devastating damage to residents, according to the Associated Press. report […]
Attorney General Ken Paxton Reaches $1.4 Billion Settlement with Mark Zuckerberg’s Meta
Texas Attorney General Ken Paxton (Republican) announced that Facebook has won a $1.4 billion settlement from Mark Zuckerberg’s Meta over privacy concerns about the company’s collection of facial and biometric data from Texas users without their consent. “We secured a $1.4 billion settlement with Meta to stop the company from collecting and using the personal […]
Migrant crisis projected to cost Massachusetts taxpayers $1.8 billion over next two years
A new report analyzes the impact of the immigration crisis on Massachusetts residents and projects it will cost the state $1.8 billion over the next two years, posing a potential “fiscal time bomb.” Center for Immigration Studies (CIS) The report was released On July 24, he predicted the state would struggle to manage the growing […]
Meta settles with Texas for $1.4 billion for unauthorized capture of biometric data in record settlement
Texas Attorney General Ken Paxton Announced On Tuesday, Meta, formerly known as Facebook, announced it had agreed to a record settlement over the unauthorized harvesting of biometric data. “I am proud that our vigorously pursued justice for Americans whose privacy rights were violated by the use of Meta’s facial recognition software, resulting in the largest […]
Buffett cuts Bank of America stake, sales top $3 billion – Yahoo Finance
Jonathan Stempel (Reuters) – Warren Buffett’s Berkshire Hathaway Inc sold more shares of Bank of America Corp to lock in profits after a big surge in the second-largest U.S. bank’s shares, bringing sales to more than $3 billion this month. Berkshire Hathaway sold 18.4 million shares of Bank of America stock between July 25 and […]