Author: News Room

Journalists from The New York Times, The New Yorker and ProPublica were among the winners of the George Polk Awards, which were announced on Monday.Long Island University, the home of the awards, selected the winners from 493 submissions of work published in 2024, many of which focused on reports from wars and conflict zones and health and medical investigations. The New York Times won three Polk Awards, the most of any publication.“Given the range and depth of exceptional and occasionally remarkable reporting before us, winnowing the list to these 15 meant making some very hard calls,” said John Darnton, the…

In an era of heightened global tax transparency, disclosing offshore income accurately is no longer optional but a critical legal obligation. HM Revenue & Customs (HMRC) has significantly expanded its efforts to identify undisclosed foreign income, leveraging international agreements like the Common Reporting Standard (CRS) to access offshore financial data. For individuals and businesses with overseas assets or income, the Worldwide Disclosure Facility (WDF) offers a structured pathway to resolve historical discrepancies while mitigating penalties. This guide, informed by expertise from offshore tax specialists at Tax Accountant UK, demystifies the WDF process and underscores the importance of proactive compliance. What is the Worldwide Disclosure…

Since their party swept to power, Republicans have entertained visions of an all-inclusive tax cut — one that could permanently lower rates for individuals, shower corporations with new incentives and deliver President Trump’s sprawling suite of campaign promises.If only it were so easy.House Republicans are preparing to adopt a budget plan that puts a $4.5 trillion upper limit on the size of the tax cut. Even such a huge sum is not nearly enough for all of their ideas, and so lawmakers must now decide which policy commitments are essential and which ones they can live without.For a sense of…

After decades of dominating China’s market for high-performance cars with precision engineering, German automakers are losing out to Chinese rivals that have shifted the definition of a high-end car to one that is electric, smart and affordable.Many new Chinese vehicles resemble their German rivals, like the wildly popular Xiaomi SU7, which mimics Porsche’s Taycan. The SU7 rivals the Taycan in power and braking, but it also includes integrated artificial intelligence that can, for instance, help with parking and greet drivers with their favorite song. The cherry on top: It sells for roughly half the price of a Taycan.As a result,…

Xi Jinping, China’s top leader, met on Monday with a group of corporate chieftains, including the entrepreneur Jack Ma, who was sidelined by the government four years ago, in a show of support for private business at an economically precarious time.The heads of the electronics companies Huawei and Xiaomi, the battery maker CATL and the electric vehicle giant BYD were among the business leaders who applauded and took notes as Mr. Xi presided over the meeting, according to a video published by state media. The reports did not describe the nature of the discussions or list everyone who attended.It was…

The Internal Revenue Service is preparing to give a team member working with Elon Musk’s so-called Department of Government Efficiency access to sensitive taxpayer data, people familiar with the matter said.The systems at the I.R.S. contain the private financial data tied to millions of Americans, including their tax returns, Social Security numbers, addresses, banking details and employment information.“Waste, fraud and abuse have been deeply entrenched in our broken system for far too long,” Harrison Fields, a White House spokesman, said. “It takes direct access to the system to identify and fix it.”Mr. Fields added: “DOGE will continue to shine a…

For decades in Japan, it was accepted as gospel: A weak currency makes companies more competitive and bolsters the economy.Part of that promise came true last year: As the yen tumbled to a 37-year low against the dollar, big brands like Toyota Motor reported the highest profits in Japanese history. Stocks soared to record highs.Yet for the majority of Japanese households, the weakened yen has done little more than drive up the costs of basic living expenses, such as food and electricity. Figures released Monday showed that while Japan’s economy picked up pace in the second half of 2024, its…

Instead, the Rutherford leaned heavily on Charlotte Kullen. Her six-hour deposition, taken in September 2022, is difficult to read, in part because it captures her distress and in part because that distress is, legally speaking, beside the point. The judge overseeing the case signaled that she wanted a mediator to help the sides come to a settlement, and on Aug. 16, 2024, the U.S. attorney for the Southern District of New York issued a press release with the result.The Rutherford would have to pay Ms. Lesser a total of $750,000 — $585,000, for the shares in her apartment plus $165,000…

The world economy was already grappling with a perplexing assortment of variables, from geopolitical conflicts and a slowdown in China to the evolving complexities of climate change. Then, President Trump unleashed a plan to uproot decades of trade policy.In starting a process to impose so-called reciprocal tariffs on American trading partners, Mr. Trump increased volatility for international businesses. He broadened the scope of his unfolding trade war.In basic concept, the argument for reciprocal tariffs is straightforward: Whatever levies American companies face in exporting their wares to another country should apply to imports from that same country. Mr. Trump has long…

At the height of the superhero boom a few years ago, Disney pushed its Marvel assembly lines to run faster and faster. After awhile, quality suffered and ticket sales declined.So Disney slowed the pace. Last year, Marvel released one movie (the megasuccessful “Deadpool & Wolverine”) and two Disney+ series. To compare, in 2021 Marvel churned out four movies (with mixed results) and five Disney+ series.Factory problem fixed?Maybe: Marvel’s “Captain America: Brave New World” was a runaway No. 1 at the global box office over the weekend. The movie, which cost at least $300 million to make and market worldwide, was…