What would it take for you to walk away from a corporate job and plunge into the start-up world? How about doing it before the age of 30? Read how four millennial women took this risk and made it work.
STORY HERE: http://cnb.cx/1rsRTYM
If I own stock in your company and you move offshore for tax reasons, I’m selling your stock.
Billionaire investor Mark Cuban isn’t a fan of tax inversions, to say the least.
President Obama sat down with CNBC’s Steve Liesman earlier today for a streamlined discussion on the state of the American economy.
President Obama offered hopeful remarks on the economic recovery, noting improvement in the housing and auto industries as well as lowered dependence on foreign oil. But when Liesman pointed out the continuing struggle of the middle class, Obama agreed. He pointed to the issue of minimum wage; specifically, 28 million Americans who would be helped by a wage increase.
An increasing number of American businesses have moved their companies overseas in order to avoid high corporate tax rates. Obama criticized owners for taking their business abroad, saying these tax inversions are a way of “gaming the system.”
Lowering corporate tax rates are on his agenda, he said, but he blamed Congress for stalling these efforts.
“We have put forward very specific proposals,” Obama said. “The reason it’s not getting done right now is that Congress- you may have noticed- right now is not real productive.”
Marginal tax rates today are lower than rates under previous administrations, he added. But for the richest Americans, Obama said, loopholes still need to be closed.
“If you’re paying 15 percent on that billion dollars, when your secretary is paying 23 percent, that’s not fair.”
Watch the full interview: http://cnb.cx/1nF1Q7r
1. If Facebook were a country, it would be the world’s second largest.
2. Facebook acquired WhatsApp for $19 billion in February. Apple could buy nine WhatsApp’s.
3. The site has 1.35 billion monthly active users.
4. 1/7 people on earth access Facebook at least monthly on a mobile device.
5. Mark Zuckerberg owns Facebook, Facebook Messenger, Facebook Pages Manager, Paper, Slingshot, Instagram, WhatsApp and Moves..
6. Facebook has 1 billion more users than Twitter.
7. 900 million people use Facebook’s messaging apps.
8. Facebook has 1.5 million active advertisers.
- via @EliLanger-
HAPPENING NOW: American Airlines and USAirways canceled today’s to & from flights between Tel Aviv & Philadelphia due to security concerns.
In addition, Delta flight 468- a Boeing 747 from JFK with 290 aboard- was diverted to Paris after reports of rocket or debris near Tel Aviv airport. Delta has suspended service to and from Ben Gurion International Airport in Tel Aviv and its New York-JFK hub until further notice.
United has also suspended Tel Aviv operations until further notice.
A Ben Gurion airport spokesman said the airport is safe and the decisions were made independently by the individual airlines. However, reports emerged that a rocket landed near the airport as recently as an hour ago.
UPDATE #1- Official statement from American on Tel Aviv operations
The safety of our passengers and crew is American’s top priority. We have cancelled US Airways Flight 797 from Tel Aviv (TLV) to Philadelphia (PHL) and Flight 796 from PHL to TLV for July 22 in response to security concerns at TLV. We are reaching out to customers and working with other airlines to reaccommodate those affected. We remain in contact with the FAA and continue to monitor the situation.
For customers with future travel plans to Tel Aviv, we have extended our travel advisory and our flexible ticketing policy through August 31. Customers who choose to change their travel plans can do so without change fees.
We are ferrying our crew members out of TLV today. The FAA will not allow us to transport customers on this flight, which is operating with a special waiver.
UPDATE #2- The FAA has announced no American flights will come in or out of the Ben Gurion airport for up to 24 hours.
A federal appeals court panel ruled today that government subsidies aiding purchases from Healthcare.gov are illegal.
Judge Harry Edwards called the case a “not-so-veiled attempt to gut” Obamacare.
Healthcare.gov is federally-run, not state-run. Government subsidies can only be granted to those who purchase insurance in a state-run Obamacare exchange.
If upheld, the ruling could essentially invalidate health care subsidies for people whose states have not yet set up individual exchanges for the program.
White House Press Secretary Josh Earnest aggressively defended President Obama’s landmark legislation, calling the ruling “interesting to legal theorists” but lacking any practical impact.
“You don’t need a fancy legal degree to understand that Congress intended for every eligible American to have access to tax credits,” Earnest said. “What I anticipate the Department of Justice will do is ask for an opinion from the full D.C. Circuit.”
He admitted that the legislation has drawn “decidedly mixed” legal opinion, citing four different Obamacare cases currently working their way through the courts at different stages.
Read the court’s full opinion here.
UPDATE- A panel from the Fourth U.S. Circuit Court of Appeals ruled 3-0 in a separate case that the subsidies are legal.
President Obama condemned Russia and Russian-backed separatists today for their uncooperative conduct in the wake of the MH17 crash, saying their reluctance to collaborate with investigators and refusal to turn over evidence “has no place in the community of nations.”
Separatists in control of the area have removed evidence and bodies from the crash site without approval, and have repeatedly intimidated international investigators attempting to access the site.
“The burden is on Russia to insist that the separatists stop tampering with evidence…and allow full unimpeded access to the crash site,” Obama said. “If Russia continues to violate Ukraine’s sovereignty and back these separatists…then Russia will only further isolate itself from the international community.”
"I would say we have a different approach, but what I respect about Carl [is] there aren’t a lot of people willing to stand their ground, speak their opinion..that’s important," Ackman said onstage.
Applause filled the room as Ackman was revealed as the conference’s “surprise” guest.