Business

Proponents of taxes on the very rich claim that people are emerging from the COVID-19 pandemic with a greater appetite for what they call “tax justice”. Bills announced Thursday in California, New York, Illinois, Hawaii, Maryland, Minnesota, Washington and Connecticut differ in their approaches to raising taxes, but all revolve around the idea that America’s wealthiest will have to pay…

Elon Musk took the stand on Friday to defend a 2018 tweet in which he claimed he prepared funding for Tesla’s privatization in a deal that never came close. The tweet led to a $40 million settlement with securities regulators. It also led to a class action lawsuit alleging he deceived investors and taking him to court on Friday. The…

The slowing economy has prompted investors in a number of companies to call for lower executive pay. And feeling the pressure, some companies have caved in. The latest to earn less is JPMorgan Chase CEO Jamie Dimon, who will take home the same base salary in 2023 as last year but no additional “special bonus.” He will receive total compensation…

Microsoft has come under fire after details of a meeting it held in Davos, Switzerland, left the company’s employees more than a little concerned. The Wall Street Journal reported this week that Microsoft hosted an exclusive event for around 50 people at the Swiss ski resort on Tuesday night, with sources telling the publication attendees were treated to a live…

FBI Director Christopher Wray said Thursday he was “deeply concerned” about the Chinese government’s artificial intelligence program, claiming it was “not constrained by the rule of law.” During a panel session at the World Economic Forum in Davos, Switzerland, Wray said Beijing’s AI ambitions are “built on massive troves of intellectual property and sensitive data they’ve stolen over the years.”…

Despite the ongoing crypto winter, Bitcoin supporters are certain that the future is bright for the fledgling industry. And so far this year, they’ve had reason to celebrate. Bitcoin’s price is up more than 25% in just the past few weeks after a dismal 2022. But JPMorgan Chase CEO Jamie Dimon still doesn’t believe it. At the World Economic Forum…

When New York’s first licensed recreational marijuana dispensary opened last month, the chief of the state’s Bureau of Cannabis Management, Chris Alexander, proudly held a can of watermelon-flavored gummy bears over the crowd. Outside the Manhattan store, he displayed another purchase — a jar of dried buds of a cannabis strain called Banana Runtz, which some aficionados say has hints…

The mild winter weather in Europe may have presented skiers with a challenge on the slopes, but the rest of the continent breathes a sigh of relief. Apart from a cold snap in December, most of Europe has experienced unusually high temperatures this winter. And with spring now on the horizon, we may be able to avoid an energy crisis…

While Citibank encourages flexible work arrangements, employees who aren’t performing well at home are being ordered back to their cubicles, CEO Jane Fraser said Bloomberg’s David Westin at the World Economic Forum in Davos on Tuesday. “You can see how productive someone is or isn’t, and if they’re not productive, we’ll take them back to the office or site and…

Citigroup Inc. has a policy under which Texas Attorney General Ken Paxton’s office “discriminates” against the firearms industry, a decision that appears to bar the company’s ability to underwrite most of the state’s municipal bonds. The ruling shows the New York-based bank violated a Republican-backed state law banning most government contracts with companies engaged in anti-gun business practices. The decision…