Category: Uncategorized

After the Tax Cuts and Jobs Act (TCJA) of 2017 Amazon is paying less to the tax base at a rate of 1.2%. According to the Government Accountability Office (GAO), as of the end of fiscal year 2018, the federal debt is $21 Trillion and rising.

Last year, Yahoo Finance reported that Amazon (AMZN) paid a shockingly low amount in federal income taxes in 2018 on more than $11 billion in profits: $0.

But this year, while the company says it has paid “billions” in taxes for the year 2019, in reality it only paid $162 million in federal income tax — an effective tax rate of 1.2% on over $13 billion in profits. 

https://finance.yahoo.com/news/amazon-paid-a-12-tax-rate-on-13285000000-in-profit-for-2019-210847927.html

Saudi Arabia opens talks on possible Feb OPEC+ meeting after oil price slide

https://business.financialpost.com/pmn/business-pmn/saudi-arabia-opens-talks-on-possible-feb-opec-meeting-after-oil-price-slide
— Read on business.financialpost.com/pmn/business-pmn/saudi-arabia-opens-talks-on-possible-feb-opec-meeting-after-oil-price-slide

Does this signal the future of oil?

Gold falls 1% as China works to stem economic impact of virus

https://business.financialpost.com/pmn/business-pmn/gold-falls-1-as-china-works-to-stem-economic-impact-of-virus
— Read on business.financialpost.com/pmn/business-pmn/gold-falls-1-as-china-works-to-stem-economic-impact-of-virus

Macroeconomic effects I the real world.

The first month of the year was one of the worst in the last five years. Is this the result of the Coronavirus or just a market correction?

U.S. stocks tumbled Friday, with the Dow and S&P 500 index recording their biggest one day falls since August, as fears that Chinese coronavirus epidemic would slow economic growth rattled Wall Street.

https://www.marketwatch.com/story/stock-futures-point-lower-on-coronavirus-worries-weak-global-economic-data-2020-01-31?mod=markets

A report from Muddy Waters Research alleges false financial statements for the third question of 2019

uckin Coffee Inc. (lk) is down 12% in Friday trading after an anonymous report received by short seller Muddy Waters Research that alleges the company is fabricating its financial and operating figures, beginning with Q3 2019. MarketWatch cannot confirm the authenticity of the report, which is 89 pages long. MarketWatch has reached out to Luckin Coffee for comment.

https://finance.yahoo.com/m/60c7e1b7-e521-374b-ad17-91ec8bf9afbe/luckin-coffee-stock-sinks.html

(Bloomberg) — It’s almost as if the last decade never happened for investors of Exxon Mobil Corp. shares. Read More

Exxon at a 10-Year Low Shows Challenges for Oil’s Biggest Major — Financial Post

The story is one of supply and demand and what should investors make of the decline? The question is “Has the world began to move away from fossil fuels.” A quick search on Yahoo Finance tells a ominous fable of one of the largest companies in the world at a five year low. Considering the market is on one of the longest winning streaks in many a moon, Exxon should be prospering during this cycle. Last year, Exxon had the largest cash expenditure in four years. Some analyst have a negative growth project of the company. A strong buying opportunity if you love the stock. Not my cup of tea.

TOKYO — Oil futures fell for a sixth session on Tuesday as the spread of a new virus in China and several countries raised concerns about a hit to economic growth and oil demand. Read More

Oil falls for sixth day as China virus raises global growth, demand concerns — Financial Post

Hello Java Lovers, this is tragic story for the people who are sick and passed. The story also offers an example of the global marketplace of how the world is connected on a number of levels.

Tesla settles major lawsuit to sell in Michigan. What will this mean for the Big 3? As someone who does not understand a $500.00 share price valuation for a company which has not turned a profit, only the Eternals know.

Tesla will be able to sell and service its vehicles in the back yard of Detroit’s three automakers under a lawsuit settlement, a person briefed on the matter says.

The settlement between the office of Michigan Attorney General Dana Nessel and Tesla is likely to be announced Wednesday, says the person who asked not to be identified because terms of the deal haven’t been made public.

https://www.freep.com/story/money/cars/2020/01/21/tesla-sell-michigan/4533227002/

LONDON/BOSTON — BlackRock Chief Executive Larry Fink warned company boards to step up efforts to tackle climate change, a significant shift by the world’s top asset manager as it faces mounting concerns about its fossil fuel investments. Read More

BlackRock vows tougher stance on climate after activist heat — Financial Post

Blackrock executive Larry Fink admits to reacting to investor pressure and not an altruistic motive regarding the environment. If this is a cause for you, speak with your wallet.

Jack Dorsey is one of many Silicon Valley billionaires with a donor-advised fund. | Chesnot/Getty Images The new bill would uncover how often rich people are violating the spirit of donor-advised funds. Are there billions of dollars meant to go to charity that really are just sitting there, untouched and collecting dust, in secretive tax…

Why Jack Dorsey (and you) should pay attention to this proposed charity law in California — Vox – All