Skip to content
(Bloomberg) -- Some of the hardest evidence yet indicates that the 2017 Republican tax law is pushing money and people from high-tax U.S. states like New York and New Jersey and into low-tax states including Florida.In 2018, low- and lower-tax states gained $32 billion more in adjusted gross income than higher tax states, according to a Bank of America Global Research analysis of income migration data. The net gain -- almost $2 billion more than in 2017 -- was nearly twice the average over the last 13 years. The Republican overhaul capped state and local deductions at $10,000, making it harder for people to shield as much income from taxes as they could before.At the same time, states like Florida and Texas, which don’t have an income tax, are seeing more and more people move there. New York, California, Connecticut and New Jersey -- the states that had the highest average...
Target delivers lackluster holiday season sales results....
(Bloomberg) -- The Trump administration on Wednesday will announce the authorization of a roughly 3,000-acre solar farm near Palm Springs, California, after developers scaled back its size to help avoid threatened desert tortoises and cultural artifacts.First Solar Inc.’s 450-megawatt Desert Quartzite project in eastern Riverside County has been praised by some environmentalists for its careful design on lands teeming with protected species and relics.“It’s a big project, over 2,700 acres. That’s no small chunk of land, and they’re going to squeeze 450 megawatts out of that,” said Casey Hammond, the Interior Department’s acting assistant secretary of land and minerals management. “If you look at how they scaled it down from where they first were -- it’s 1,000 acres less -- and what they’re going to crank out of there, utility payers should get a good value.”The project, being developed by Desert Quartzite LLC, a wholly owned subsidiary of First Solar, is...
Investing can be hard but the potential fo an individual stock to pay off big time inspires us. Not every pick can be......
"While we knew this season was going be challenging, it was even more challenging than we expected," Chief Executive Officer Brian Cornell said. Digital sales grew 19% compared with 2018's 29% rise, Cornell said, calling the reported numbers a "tough miss". Target's numbers come just a week after several U.S. retailers including Kohl's , J.C. Penney and Macy's reported lower sales for the key shopping period, raising doubts about the broader health of the retail sector....
Top news and what to watch in the markets on Wednesday, January 15, 2020....
(Bloomberg) -- The hard-fought battle that has kept the biggest utility bankruptcy in U.S. history dragging on for almost a year may finally be coming to an end.PG&E Corp. is nearing a deal with a group of noteholders led by bond giant Pacific Investment Management Co. and activist investor Elliott Management Corp., who’ve repeatedly sought to derail the company’s $46 billion restructuring plan. The agreement would entitle them to a mix of equity and new debt in the California power giant if they scrap a rival proposal, people familiar with the matter said, asking not to be identified because the information isn’t public.A deal would turn some of PG&E’s most formidable adversaries into backers of its plan to emerge from bankruptcy and bring it one major step closer to getting a proposal approved by a state-imposed deadline of June 30. The San Francisco-based utility has spent months in court battling the...
