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Articles related to "corporate"


Biden’s Debate Remarks Inject Energy Issues Into 2020 Race

  • Democrat Joe Biden’s call during the final presidential debate to transition away from the oil industry has thrust energy issues into the center of the campaign in the closing days of his race against President Trump.
  • Mr. Trump highlighted the issue by tweeting a video that his campaign has shown at rallies that includes edited clips of Mr. Biden talking about fracking.
  • Most fracking takes place on state or private lands, so Mr. Biden’s plan would have a limited impact on the practice, but it would affect traditional oil drilling in some places.
  • Mr. Trump said Thursday that the Democrat’s climate-change plan, which calls for the U.S. to have net-zero carbon emissions by 2050, would hurt the oil industry and the U.S. economy.

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McDonald’s Seeks Dismissal of Discrimination Lawsuit Filed by Black Former Franchisees

  • McDonald’s Corp.
  • on Friday asked a federal judge to dismiss a lawsuit accusing it of selling Black owners subpar stores and failing to support their businesses, saying that it wasn’t in the company’s interest to have its franchisees fail.
  • In McDonald’s first response to the lawsuit filed in late August, it said the discrimination allegations by the former franchisees were vague and pointed to no specific facts nor promises broken.
  • McDonald’s...

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Biden’s Debate Remarks Inject Energy Issues Into 2020 Race

  • Democrat Joe Biden’s call during the final presidential debate to transition away from the oil industry has thrust energy issues into the center of the campaign in the closing days of his race against President Trump.
  • Mr. Trump highlighted the issue by tweeting a video that his campaign has shown at rallies that includes edited clips of Mr. Biden talking about fracking.
  • Most fracking takes place on state or private lands, so Mr. Biden’s plan would have a limited impact on the practice, but it would affect traditional oil drilling in some places.
  • Mr. Trump said Thursday that the Democrat’s climate-change plan, which calls for the U.S. to have net-zero carbon emissions by 2050, would hurt the oil industry and the U.S. economy.

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American Express Sees Higher Consumer Retail Spending

  • American Express Co. said consumer retail spending improved in the third quarter, but spending on travel and entertainment remained substantially lower.
  • Non-travel and entertainment spending—which made up about 70% of spending going into the pandemic—increased about 1% in the third quarter from a year earlier, Chief Financial Officer Jeffrey Campbell said in an interview Friday.
  • He said that climb was partly because of sizable online transactions growth.

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Trump Administration Races to Meet Border-Wall Goal

  • GUADALUPE CANYON, Ariz.—The Trump administration is building new sections of a wall on the nation’s southern border wherever it can and as quickly as it can to try to meet the president’s goal of building 450 miles by the end of this year.
  • President Trump set the goal about a year ago and, to fulfill it, contractors are building largely on land the federal government already owns, including in areas where illegal border crossings have been relatively low in recent years.
  • Administration officials have said the project is necessary to keep people from crossing the border illegally, arguing the government can’t afford to wait for any specific section of the border to become a hot spot before building barriers there.
  • In the 2007 fiscal year, border agents arrested more than 378,000 people caught illegally crossing the border near Tucson.

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The IRS Reels in a Whale of an Offshore Tax Cheat—and Goes for Another

  • On Oct. 15, they announced that Robert Smith, the 57-year-old private-equity billionaire who founded Vista Equity Partners, admitted he criminally evaded taxes on more than $200 million of income from 2000 through 2015 by using secret foreign accounts in the Caribbean and Switzerland.
  • At the same time, the U.S. officials chargedRobert Brockman, a Houston-based billionaire and software CEO who was the sole investor in Mr. Smith’s first private-equity fund, with hiding about $2 billion of capital-gains income from the IRS in secret offshore accounts from 2000 through 2018.
  • Mr. Brockman’s alleged evasion of tax on $2 billion is the largest criminal tax prosecution ever brought, according to the Department of Justice, and Mr. Smith’s $139 million payment is among the largest made in connection with secret offshore accounts.

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Two Years After Ghosn’s Arrest, Another Foreign CEO Takes a Chance on Japan

  • TOKYO—Nearly two years after Tokyo prosecutors arrested the country’s best-known foreign executive, Nissan Motor Co.
  • ’s Carlos Ghosn, a major Japanese company has made the rare choice of a foreign executive as its CEO.
  • said Jean-Marc Gilson, 56, currently head of a French food-ingredient maker called Roquette, would take over as its chief executive on April 1, 2021.
  • Mr. Ghosn, who came to Nissan in 1999 and was credited with rescuing the car maker, was arrested in November 2018 and later charged with financial wrongdoing, which he denies.
  • He escaped to Lebanon last December, but another former Nissan executive, American Greg Kelly, is standing trial in Tokyo on charges of helping Mr. Ghosn.
  • Ghosn and Kelly have said their arrests would discourage foreign executives from coming to Japan for fear that internal company disputes could be turned into a criminal matter.

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Coronavirus Deaths, Job Losses Hit Pennsylvania Hardest of 2020 Battlegrounds

  • Bucks, the commonwealth’s fourth-most-populated county, and 11 other Pennsylvania counties are in the top 20% nationally for both increase in unemployment rate from a year earlier and deaths per capita linked to Covid-19, a Wall Street Journal analysis shows.
  • Nev. N.J. Ind. Ill.
  • Philadelphia County, where the president received 15.4% of the vote, has the state’s highest unemployment rate at 15.4%, up nine points from a year earlier.
  • Fulton County, a mostly rural area in south-central Pennsylvania where he won 84.1% of the vote, has the state’s second-highest rate at 13.7%, an increase of 9.4 percentage points from a year ago.
  • Paul Bencivengo, president of Visit Bucks County, said revenues for his agency from lodging taxes were down roughly 50% from July through September compared with a year ago, forcing some marketing and staff reductions.

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States, feds agree on new strategy to reopen by Christmas

  • Every state and territory except Western Australia has agreed in-principle to open their borders and economies by Christmas, while, at the same time, start exploring options to bring in more people from overseas next year.
  • Prime Minister Scott Morrison said it was also aimed to bring home by Christmas about 26,000 expatriates who had registered with the government as wanting to return.
  • Free movement would be allowed between "areas with no community transmission of COVID-19'' but Mr Morrison stopped short of saying that meant the country could move to a nationally agreed hotspots strategy, rather than retaining the option of closing borders again if need be.
  • As the states and territories look beyond Christmas and into the new year, Mr Morrison said preparations to expand international travel were agreed to at Friday's meeting.

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ASIC's blunders: Who'll bury the undertaker?

  • A day after Christine Holgate was stood aside after revelations of four Cartier watches being gifted to executives two years ago, the government has reacted just as clinically to audit findings that Australian Securities and Investments Commission chairman James Shipton and his deputy Daniel Crennan were reimbursed a combined $190,000 in expenses to which they were not entitled.
  • ASIC paid the $118,000 KPMG charged Mr Shipton to sort out his Australian and US tax affairs as part of his relocation package.
  • The government first got wind of a problem - minus details - more than a month ago when the Commonwealth Auditor-General, who has already had a spectacular year by uncovering the sports rorts affair before the last election and the $30 million Badgerys Creek land sale, appraised Treasurer Josh Frydenberg that anomalies had been uncovered within ASIC.

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