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Stock futures flat as investors await stimulus bill, more earnings

Finance
U.S. stock futures were flat in overnight trading as investors eye any progress from Washington on a new coronavirus stimulus package.The White House and Democratic congressional leaders have reported some progress in the negotiations, but they remain apart on some issues.Dow futures rose 14 points. S&P 500 and Nasdaq-100  futures ticked 0.01% and 0.10% lower, respectively. "I think the expectation for the market is that we are going to get that stimulus," Ally Invest's Lindsay Bell said on CNBC's "Closing Bell" on Tuesday. "There may be a few weeks of waiting while these folks don't get their extra benefits or there may be uncertainty around evictions and that uncertainty could lead to some volatility."Better-than-expected earnings from Disney helped sentiment on Wall Street...
Coronavirus bill includes $29B for weapons programs, defense contractors

Coronavirus bill includes $29B for weapons programs, defense contractors

Business
July 28 (UPI) -- The new coronavirus relief package proposed in the U.S. Senate includes $ 29 billion for the Department of Defense, including at least $ 7 billion for weapons programs and $ 11 billion to reimburse defense contractors for coronavirus-related expenses. Defense contractors lobbied for the reimbursement funding, saying the Department of Defense would otherwise be forced to tap into modernization and readiness accounts. Advertisement The Senate bill was unveiled Monday and includes another stimulus payment for Americans and a cut to unemployment benefits. The bill also includes a new round of funding for the Paycheck Protection Program, more money for emergency business loans and a reduced extension of emergency federal unemployment benefits. Its release follows weeks of nego...

Here’s what small business owners, many cash-strapped, want from the next GOP coronavirus bill

Finance
Jovita Carranza, administrator of the U.S. Small Business Administration (SBA), speaks as Steven Mnuchin, U.S. Treasury secretary, left, listens during a House Small Business Committee hearing in Washington, D.C.Erin Scott | Getty ImagesDetails of  Senate Republicans' version of a coronavirus aid bill are starting to emerge. Accountants question whether it will provide enough relief to small businesses.GOP lawmakers expect to release their aid bill next week. The proposal is expected to call for another round of stimulus checks and an extension of the enhanced federal unemployment payments – albeit "based on approximately 70% wage replacement," according to Treasury Secretary Steven Mnuchin.Small businesses – many of which are feeling the squeeze as coronavirus continues to rage – als
UK subscription site popular with amateur porn models may face huge unpaid tax bill

UK subscription site popular with amateur porn models may face huge unpaid tax bill

Technology
OnlyFans, a content subscription service popular with amateur pornographic models, could face a VAT bill covering more than three years' worth of uncollected taxes, Sky News has learnt.The service, which has spiked in popularity during the coronavirus lockdown, functions like a social media platform where fans pay a monthly subscription fee to access content creators' protected posts. Last week, for the first time since it began operating in 2016, the service started charging VAT on fans' monthly subscriptions following discussions with Her Majesty's Revenue and Customs (HMRC). Image: HMRC is currently reviewing OnlyFans' tax arrangements Sky News understands HMRC is currently reviewing whether the company should have been collecting ...
House bill calls for Congressional oversight of Afghanistan withdrawal

House bill calls for Congressional oversight of Afghanistan withdrawal

Business
June 26 (UPI) -- A bipartisan bill introduced this week in the U.S. House of Representatives would give Congress oversight of the U.S. troop drawdown in Afghanistan. The Afghanistan Partnership and Transparency Act, introduced on Thursday, would require the White House, State Department, Office of National Intelligence and Defense Department to provide reports to Congress when U.S. troop levels are reduced to below 8,000 troops, and again at 5,000 troops, according to members of Congress behind the bill. Advertisement In March, the United States began withdrawing troops from Afghanistan under the terms of a peace deal signed in February with the Taliban. The United States committed to reducing its forces from 13,000 troops to 8,600 within 135 days, although a further drawdown is anticipat...