- U.S.Yahoo Finance
Thank you Walmart for finally introducing single-direction aisles to your stories — it makes a ton of sense.
- BusinessThe Wrap
Fox says it plans to raise $1.2 billion through the sale of senior notes and use the money “for general corporate purposes.”Hey, everyone needs a little extra cash these days.Earlier on Tuesday, Fox became the latest major media corporation to walk back its prior financial guidance due to the impact of the continuing coronavirus pandemic. The company also plans to revisit its current agreements with lenders.Also Read: Fox News Insider Denies Judge Jeanine Pirro Was Drunk, Explains 'Technical Difficulties' in 1st Home BroadcastWhile Fox News has been a bright spot as viewers flock to the network for information on the pandemic, a number of canceled or postponed sporting events are threatening to offset those gains. And then there are just regular TV and film productions that are on hiatus as social distancing has become our new normal.“The impact of coronavirus disease 2019 (COVID-19) and measures to prevent its spread are affecting the macroeconomic environment, as well as the business of Fox Corporation, in a number of ways,” the company said in a Tuesday SEC filing. “For example, while the company’s national news ratings remain strong, sports events for which the company has broadcast rights have been cancelled or postponed and the production of certain entertainment content the Company acquires has been suspended. The magnitude of the impacts will depend on the duration and extent of COVID-19 and the effect of governmental actions and consumer behavior in response to the pandemic and such governmental actions.”“The evolving and uncertain nature of this situation makes it challenging for the company to estimate the future performance of its businesses, particularly over the near to medium term, including the supply and demand for its services, its cash flows and its current and future advertising revenues,” it continued. “However, the impact of COVID-19 could have a material adverse effect on the company’s business, financial condition or results of operations over the near to medium term.”Read original story Fox to Raise $1.2 Billion After Saying Coronavirus May Have ‘Material’ Impact on Earnings At TheWrap
On average, each person with coronavirus passes on the disease to two other people. Here's how.
- PoliticsThe Fiscal Times
House Speaker Nancy Pelosi has floated another suggestion for the next round of fiscal stimulus: A retroactive rollback of the 2017 Republican tax law’s limit on state and local tax deductions.In an interview with The New York Times, Pelosi said that a stimulus plan should do more to get money directly to individuals and suggested that a rollback of the $10,000-a-year deduction limit would be one way to do that. The Democratic-controlled House voted last year to repeal the cap, which has predominantly hurt top-earning households in high-tax blue states such as New York, Illinois and California, but the effort went nowhere in the Republican-led Senate.“A full rollback of the limit on the state and local tax deduction, or SALT, would provide a quick cash infusion in the form of increased tax rebates to an estimated 13 million American households — nearly all of which earn at least $100,000 a year,” the Times’s Jim Tankersley and Emily Cochrane explain.A Pelosi spokesman tweeted Monday night that “action on SALT would be tailored to focus the benefits on middle class earners and include limitations on the high-end.” But it could be difficult to have any rollback benefit significant portions of the middle class.As Tankersley and Cochrane note, the congressional Joint Committee on Taxation estimated last year that a repeal of the SALT limit for 2019 would have cut federal revenues by about $77 billion, with $40 billion of that going to taxpayers earning $1 million or more and most of the rest benefiting households with incomes of $200,00 or more. The Tax Policy Center estimates that only 3% of households in the middle quintile of American taxpayers would receive any benefit from the SALT cap repeal.Republicans dismissed Pelosi’s proposal as part of a partisan wish list. Tax experts and budget wonks, meanwhile, reacted with horror: * “Nooooooooooooooooo,” tweeted Nicole Kaeding, an economist with the National Taxpayers Union Foundation. * “It certainly gets money into hands. But I’m not sure it’s the correct hands,” Kyle Pomerleau, a resident fellow at the conservative American Enterprise Institute, told the Times. * “Weakening or eliminating the SALT cap would be regressive, expensive, poorly targeted, and precisely the kind of political giveaway that compromises the credibility of emergency spending,” Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said in a statement. “As stimulus or economic relief goes, I’m not sure one could design a less targeted policy.” * “[T] here are about 1,000 better ways to get help to middle-income people right now,” Michael Linden, a liberal wonk who is executive director of the Groundwork Collaborative, tweeted. “This is a road not worth going down.”Like what you're reading? Sign up for our free newsletter.
- EntertainmentYahoo Celebrity UK
Elton John’s warning during coronavirus benefit: ‘There was another infectious disease that was ignored’
John’s comments divided Twitter, but everyone seemed to enjoy his guests' 'iHeart Living Room Concert for America' performances — all shot at home in the name of social distancing.
- CelebrityGood Housekeeping
Honestly, it makes a lot of sense!
- SportsNBC News
“It is better to die on your feet than live on your knees!” Lukashenko, who hit the ice for a weekend hockey game, said.