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Tag: block

Treasury, IRS move to block blue state workarounds on tax caps

Treasury, IRS move to block blue state workarounds on tax caps

Finance
The Treasury and IRS have issued new rules that will block blue states' attempts to circumvent the new $ 10,000 cap on state and local tax deductions. The proposed regulation was released Thursday afternoon. The $ 10,000 limit on the so-called SALT deduction was part of the Tax Cuts and Jobs Act, an overhaul of the tax code, which was passed last year. New York, New Jersey and Connecticut — among the states with the highest property taxes — had put legislation in place to help taxpayers bypass the limit on the deduction. ...
Ministers update powers to block foreign takeovers

Ministers update powers to block foreign takeovers

Business
Ministers will gain fresh powers to block or unwind foreign takeovers which pose a potential risk to national security, according to proposals to be unveiled on Tuesday. Sky News has learnt that a White Paper to be published by Greg Clark, the Business Secretary, will extend the Government's existing oversight of mergers and takeovers to a broader range of industries.The new rules will mean that ministers have the power to 'call in' corporate deals, block them subject to bidders meeting certain conditions or even unwind transactions which have already taken place.Sources said the National Security Investment White Paper would close a loophole which meant that the Government could only intercept corporate takeovers across the economy where there was a competition-related con...
SpaceX's Block 5 launches, lands safely, delivers satellite into orbit

SpaceX's Block 5 launches, lands safely, delivers satellite into orbit

Science
May 11 (UPI) -- On the second launch attempt, SpaceX's Block 5 rocket, the final iteration of the Falcon 9, successfully blasted off on Friday. The updated rocket model, upgraded to enhance reusability, carried a Bangabandhu Satellite-1 into geostationary orbit. It will be the first Bangladeshi communications satellite put into space. The rocket launched right on time at 4:14 p.m. ET from Launch Pad 39A at NASA's Kennedy Space Center in Florida. On Thursday, a last-minute abort alert forced SpaceX to abandon it's launch plans. The brief launch window didn't give engineers enough time to identify and correct the technical glitch. However, statements from SpaceX suggested the problem was with ground support systems, not the rocket itself. After launch, the mission achieved a quick successi...
Trump target of petition to block his attendance at World Economic Forum

Trump target of petition to block his attendance at World Economic Forum

World
A Swiss group has started a petition to oppose President Donald Trump’s visit to the annual gathering of the World Economic Forum in Davos, Switzerland, later this month. Campax, described on its website as a “progressive” nongovernmental organization based in Zurich, launched the mostly symbolic campaign after the White House announced Trump would be the first sitting U.S. president to attend the elite gathering in 18 years. The campaigners also highlighted their disgust with the U.S. administration's decision to pull out of the Paris climate agreement and took issue with many of the White House's priorities. "U.S. President Donald Trump is on outstanding phrases with racism, Islamophobia, anti-Semitism, sexism, misogyny, bellicosity, local climate modify denial, human legal rights ab
Drug companies sue to block California drug price law

Drug companies sue to block California drug price law

Health
Pharmaceutical companies on Friday sued to block a new California law that would require them to give advance notice before big price increases. The law was approved this year in response to consumer outrage over a rise in drug spending and high costs for some prescription treatments, including new Hepatitis C medications and EpiPens to control allergic reactions. The Pharmaceutical Research and Manufacturers of America, a trade group for drugmakers, said in its lawsuit that California's law illegally tries to dictate national health policy. Because the law is tied to a national measure of drug prices, PhRMA argues that California's advance notification requirement could restrict drugmakers' ability to raise prices in other states. The group also argued the law is unconstitutionally vague...