Goal, Rivian, Lucid, TJX, Visa and extra

A shopping cart is seen in a Target store in the Brooklyn neighborhood of New York, United States, on November 14, 2017.

Brendan McDermid | Reuters

Check out the companies that are making headlines in midday trading.

target – The retail giant saw its shares fall 4.7% despite the release Beats on the top and bottom lines. CEO Brian Cornell increasing costs noted Have an impact on the company as it plans to pay these costs instead of passing them on to the customer.

Visa The card giant’s shares fell 4.7% after reports that Amazon will stop accepting payments with UK-issued Visa credit cards starting next year. This change came shortly after Visa increased its interbank fees on transactions between the UK and the European Union. Mastercard, which has also increased its interbank fees between the UK and the EU, fell 4.5% with Visa.

Lowes – Shares in the hardware store trader rose 0.4% after a better than expected quarterly report. Lowe’s exceeded analysts’ expectations for fiscal third quarter results as the company saw a surge in home improvement and online sales. The company also raised its forecast for 2021, forecasting sales of $ 95 billion versus $ 92 billion.

Tesla – Tesla remained wary of the big price moves recently after CEO Elon Musk sold stocks last week. Electric vehicle shares rose 3.3% on Wednesday.

Rivian – Rivian fell 15.1% in its first lost session since the electric vehicle manufacturer went public last Wednesday. The company quickly overtook traditional automakers like ford and GM Market value since the IPO.

Clear group – Electric vehicle stock slipped 5.4% on Wednesday after rising nearly 24% on Tuesday. Morgan Stanley reiterated its underweight position in Lucid, says there are better EV games out there.

Baidu Baidu shares fell 5.5% even after the China-based e-commerce firm beat sales estimates for the last quarter. Baidu said it benefited from stronger ad sales as well as strength in cloud and artificial intelligence products.

Pfizer, BioNTech Stocks of Covid vaccine makers won after the New York Times reported the FDA will approve the Pfizer / BioNTech Covid-19 booster dose for all adults as early as Thursday. BioNTech gained 5.4% while Pfizer gained 2.6%.

year – Roku shares fell 11.3% after the stock downgraded from “neutral” to “sell” at MoffettNathanson. The company cited signs of slowing revenue growth for the streaming company.

TJX – TJX shares rose 5.8% after the clothing and home retailer reported quarterly gains in sales and earnings. Revenues in the same business also increased 14% in fiscal 2020 compared to the same period.

Activision Blizzard – Activision BIizzard shares fell 2.9% after a group of shareholders called for CEO Bobby Kotick to step down Washington Post reported. The letter comes after a Wall Street Journal report that the alleged Kotick had known of allegations of sexual misconduct in the company for years.

– CNBC’s Yun Li and Tanaya Macheel contributed to the coverage

Goal so as to add greater than 100 Disney retailers to shops forward of holidays

A child holds a Walt Disney Co. Pixar Cars toy in a Target Corp. store. in Chicago.

Daniel Acker | Bloomberg | Getty Images

target said Monday that the number of will roughly triple Disney Doing business in its stores, helping to increase foot traffic as the holiday season approaches.

The national retailer with around 1,900 stores in the USA began 2019 with the opening of Disney stores in select locations. With the expansion, more than 160 Target stores will sell Disney merchandise, from toys to costumes, by the end of the year.

In a sense, Target’s partnerships transform its stores into mini-malls where shoppers can conveniently browse a variety of products under one roof. Buyers can get a vaccine or fill out a prescription in a reduced form CVS health. You can have a frappuccino at a. order Starbucks Coffee shop. You can find dedicated displays from Apple Gadgets and Levi Strauss Denim. And with mini. try a lipstick sample or get beauty tips Ulta beauty Shops that started opening in select stores earlier this month.

The retailer’s expansion of Disney stores comes before Christmas time – an important time for toy sales. Macys recently announced that it will also expand its toy range. It Made a deal with Toys R Us To open shops in more than 400 branches of the department store chain and online. A larger selection of Toys R Us merchandise is now available on Macy’s website.

Steve Dennis, a retail strategy analyst, said the Toys R Us shutdown “had market share and many retailers wanted to recapture it.” That has led to increased competition between retailers like Walmart, Amazon and Target – and made toys an appealing product category for Macy’s.

He said the Disney stores could help Target stand out and raise the price of its toy department.

“One of the trends I think you are leaning on is ‘how do you create more uniqueness and differentiation for your brand’ and somehow differentiate it from the typical type of merchandising?” he said. “What is that additional reason to go to the store, or website, or maybe buy something else on your trip?”

Toys were a growth category for Target and continued to show momentum in the second quarter that ended July 31, according to Christina Hennington, chief growth officer. She said on the company’s conference call that toy sales were up the low 20% year-over-year over the three-month period.

Target’s mini Disney stores and website can be used by shoppers to find items from popular Disney items, including Star Wars and Raya and the Last Dragon.

Together with Disney, Target announced that it would be working with the well-known toy retailer FAO Schwarz for the second year in a row. There will be an exclusive 70-piece toy collection with FAO Schwarz, including items from Barbie and Paw Patrol. It will also have a pop-up shop inside The FAO Schwarz flagship store in New York City.

Target’s shares are up around 43% this year. The enterprise Last week’s earnings expectations exceededas it saw a strong start to the back-to-school season.

Goal cuts grocery costs in rival gross sales occasion

Customers shop in the grocery section of a Target Corp. store in Chicago, Illinois, USA on Saturday, November 16, 2019.

Daniel Acker | Bloomberg | Getty Images

Electronics, toys and groceries?

How aim starts a competing sales event to compete with him Amazon Prime Day, the big box retailer, puts its grocery department in the spotlight. It adds discounts and promotions to entice customers to its cereal, meat, and soda aisles.

Target introduced Deal Days to compete with Prime Day in 2019, but this will be the first time Target has used the event to promote groceries. The discounts extend from Sunday to Tuesday – one day longer than the event of the e-commerce giant.

It’s likely that Target sees the food category differently these days. Food was a major reason Target’s sales skyrocketed and its market share grew during the pandemic. While people settled down at home, dinner ingredients, staples, and snacks drove into the store. Target had a head start in the early months of the health crisis by keeping its doors open as a major retailer by locking it down. As rival stores reopened, Target was still drawing shoppers in with its variety of merchandise, from eggs to workout tops, while people rounded up their trips and filled larger baskets.

Even with people making social plans and eating out again, Target sees its grocery stores as a way to get people to come back. The next few months will test whether Target and other grocers can convince people to keep filling fridges and cooking, even if they plan to hang out with friends for a drink or go out with family for dinner.

Before the pandemic, US consumers spent more each month in restaurants and bars than in grocery stores. This pattern was reversed in March 2020. In the past two months, the habit of spending more on restaurants has returned, according to the US Census Bureau. That leaves grocers competing for a bigger slice of a shrinking cake.

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Amazon Prime Day is all about spending that can keep up with the busiest days of the Christmas shopping season. According to an analysis by Adobe Analytics, based on a survey of 1,000+ consumers, US online spending is expected to beat last year’s all-time record of $ 10.4 billion during the two-day sales event and cyber Monday of last year surpassed US retail site visitors. According to a survey by Adobe, nearly 60% of consumers said they would shop online during Prime Day.

Retailers of all sizes have taken up the shopping vacation and increased sales as shoppers browse and buy more than usual.

Deal Days discounts will be widespread at Target, but there will be a special grocery promotion: $ 10 worth of gift cards will be given out to customers who spend $ 50 or more on food and drink while they are using one of its Use same day services as roadside pickup and home delivery service, Shipt. The company declined to share certain items that are available for sale.

At least two of Target’s competitors will also dangle grocery stores: Walmart and Amazon. Walmart is also adding groceries to Deals for Days, its annual sale, for the first time, according to a company spokesperson. It will lower the prices of foods like ribs, watermelon, ice cream, and coffee.

Amazon plans to sell some groceries for $ 1 and its Cursive wine brand is on sale. Whole Foods will discount seasonal products like lemonade and Caprese pizza, a company spokesman said.

If buyers benefit, these offers could help companies hold their own against tough year-on-year comparisons. All three have big growth numbers that will be hard to match or beat – especially in the grocery department, where consumers were stocking items during the pandemic.

Target sales in the last fiscal year grew by more than $ 15 billion – more than the combined sales growth of the last 11 years. The company said it gained approximately $ 9 billion of market share during the year, according to the company’s own and external research.

The company’s shares are up nearly 31% so far this year, reaching a market value of nearly $ 114.05 billion.

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Comparable sales for Target, which tracks sales in stores that are open for at least 13 months and online, rose 19.3% over the past fiscal year – a faster rate than any other major food company. KrogerLike-for-like sales for Walmart increased 14.1% and Walmart increased 8.6%. Retailers’ fiscal years and definitions of comparable sales vary slightly.

By combining food and digital services, Target has also found that it can drive customer loyalty.

At a conference call on the fourth quarter results on March 2nd, Target CFO Michael Fiddelke said customers tended to visit their stores more frequently, increase their food and beverage spend by an average of 20-30%, and get more sales in other categories after getting fresh or frozen Groceries bought by pickup or roadside store had to pick up the first time.

A sign advertising Shipt, the same day grocery delivery service owned by Target, will be displayed on a freezer display in a Target Corp store on Saturday, November 16, 2019. exhibited in Chicago, Illinois, USA.

Daniel Acker | Bloomberg | Getty Images

The company also announced that groceries and beverages accounted for 20% of its total sales for the year, making the category the second largest sales driver after beauty and household items at 26%. The company started during the pandemic a private label of snacks and desserts and a collection of gourmets Pasta, coffee and more.

So far, Target has been able to keep growth going. In the first quarter, Food and beverages grew in the low to mid single digits despite hard comparisons with the same period last year when consumers stocked up on supplies and sought shelter.

Target will use food as a differentiator and “defense mechanism” on Amazon Prime Day, Krishnakumar Davey, president of strategic analysis at research firm IRI. Over the past year, it has helped Target promote bigger shopping carts and attract new customers, he explained.

Target has deepened its market penetration with lower-income customers and older buyers, according to market research from IRI.

It has also done more business than the competition in the past few months. As of the beginning of June, the number of destination trips increased by 16.1% compared to the same period in the previous year. All other colleagues except Cost co, are in the low single digits, according to the IRI, which collects consumer data from a representative sample of over 100,000 households.

Compared to Amazon, Target also has a much larger footprint in the food space. Amazon owns more than 500 Whole Foods stores and has about a dozen Amazon Fresh stores, its expanding grocery chain. Target has around 1,900 stores.

Eating out may return, but home food consumption is still above pre-pandemic levels due to other factors such as remote working, Davey said. Also, he said, a sale of groceries might be more popular than other types of offerings.

“Everyone needs something – more than an iPad or whatever,” he said. “It’s a high frequency object.”

Reporting on Amazon Prime Day 2021

Read more about Amazon and others scheduled for this year’s sales events:

REEL TALK: ‘Cruella’ cannot discover target market | Arts & Leisure

We have seen more than a dozen Disney live-action remakes in the past 10 years, including Beauty and the Beast, Vicious, Mary Poppins, Dumbo, The Lion King, and “Mulan”.

“Cruella” is the latest live-action version, but this dark origins story isn’t your typical Disney tariff.

Rated PG-13 and with a running time of 2 hours and 14 minutes, this is not the one that makes the small tikes see, especially on the big screen. In fact, I’m not sure who the target audience for this is, with its traumatic and tragic beginnings and twisted finale to play out for the subsequent stories in the film.

We meet Estella (Tipper Seifert-Cleveland, plays the young version of the character) – who later transforms into Cruella (Emma Stone) – as a teenager who shows even on the day of her birth that she is not like everyone else.

With hair evenly split on each side, light and dark, similar to the personality of this character, little Estella and her mother live a humble life. Estella proves that behavior cannot be taken for granted as she tries to follow her cute mother’s advice to be kind and get along with others.

She is lively, refutes all the rules and does not hesitate to throw the first blow. But after witnessing the death of her mother, Estella – now an orphan – has to develop street arts and educate herself thanks to the Baroness (Emma Thompson) indictment against the Dalmatians … with a little help from her new found friends Jasper (Ziggy) Gardner) and Horace (Joseph MacDonald).

After a very drawn out childhood story, we are finally catapulted into the 1970s when Estella, an aspiring seamstress, accidentally finds her way into the baroness’s couture clothing company. She stands out from her competition and works her way from coffee runner to ball gown designer.

But when Estella learns more about the dirty story between the baroness and her mother, she discovers that an internal switch has been thrown and that her goal in life is to kill the baroness. With smart planning and two lackeys ready to obey any instruction, Estella becomes Cruella in search of sweet revenge.

“Cruella” has so many flaws in the story design, despite its beautiful costume and production design that has established itself as the forerunner of all other Cruella stories known to us, that it is nothing more than a bundle of rags sewn together.

The young Estella, who is smart, stands up for the little guy and is tougher than any other boy, will no longer be recognized as the adult version of Estella. She is initially scared, insecure, and meek.

This contradicts the entire makeup of Estella’s intrinsic traits and makes us question the character in general. She gets nasty, but spending so much time on childhood backstory seems such a waste now that it turns out to be irrelevant.

Time and tempo are another theme in this film as art trumps history. Director Craig Gillespie, who gave us such masterful films as “I, Tonya” and “The Finest Hours,” loses track of his story because he spends so much time on unnecessary close-ups and looking for shots that lack emotion and those who can’t. Tell a fable succinctly.

With the exception of Emma Thompson, the story fails in terms of pace, but also in terms of casting. Stone can’t shed her embarrassingly adorable sweetness despite her threatening dialogue.

Oscillating between her low self-esteem Estella and the cunning Cruella, Stone has two cogs to portray these characters, and we always see through the veneer – she’s still the bubbly girl next door. Fry and Hauser try as hard as they can to channel their inner morons as Jasper and Horace, but there is no laugh between them.

Mark Strong, as best he could, is completely untapped as a key character in John the Valet. Unfortunately, even Thompson’s killer performance can’t revive this Disney classic.

As the story stutters and falters, the harrowing, but somehow funny, musical score wakes you up to get back into the story. The soundtrack, a uniquely curated soundtrack that is perfectly tailored to the situations and scenes, is a highlight of “Cruella”. This will be fun for rock fans of the 1970s, but that aspect will go way over the head for the little ones.

Disney’s attempt to give us a backstory to explain Cruella’s beginnings falls flat like a pancake. With the wrong cast, an incredibly dark and disturbing beginning, an inconsistent character development and an urgent need for massive editing, “Cruella” fidgets both when telling the story and when it comes to knowing the target group.

Reel Talk Rating: 2 stars (great production, costume and musical design)

UK authorities to focus on cash in Scotland to counter independence drive

A Scottish flag flies next to the British Union Jack flag in front of the Scottish Parliament in Edinburgh, Scotland, UK, April 24, 2019. REUTERS / Russell Cheyne

The Scottish businesswoman Marie Macklin voted for independence seven years ago. Now she doesn’t see it as a priority.

As the Scottish National Party (SNP) pushes for a second referendum after another election victory this month, Macklin believes economic recovery is the real priority, especially for the fate of their struggling Scottish hometown, Kilmarnock.

In this regard, UK Prime Minister Boris Johnson’s administration makes a difference.

“I’ve seen a strategic change,” said Macklin, who quickly secured UK government funding to train 200 apprentices for their HALO urban renewal project in Kilmarnock, a deprived SNP stronghold in Scotland.

She has fought for 12 years to raise government funding for her £ 89 million ($ 89 million) HALO Kilmarnock project, a redevelopment of the home of Scottish whiskey giant Johnnie Walker, which owns the 23-acre site in Cyber ​​and digital learning transforms facility at its hub for business and innovation.

She welcomes the funding of her plans to create a “digital army of young people” who once received social benefits as part of a change of direction to support communities.

When asked if the funding was a ploy to buy votes, she is apolitical and says she is focused on helping her community.

“When you say, do you do this to get votes? Don’t all politicians do that?”

Although the SNP triumphed in the Scottish general election, Conservatives gained ground among voters in the region.

It’s a low base, but according to two sources close to making decisions on the government’s Scotland strategy, the government is hoping to build on it, including through targeted project funding.

Controversial bill

Scotland, a nation of nearly 5.5 million people, has long been a problem for the Conservative government, especially Johnson, whose push for Brexit has only fueled hostility towards his government in Westminster, which is hundreds of miles away.

He has virtually no personal relationship with the SNP’s Scottish Prime Minister Nicola Sturgeon, conservative sources say, and she was aware that winning this month’s election only fueled the quest for independence.

Johnson himself is unpopular with many Scots who consider him the epitome of the English upper class elite, and he was largely kept at a distance in the campaign for the Scottish Parliament, in which parties for independence took a majority of the seats.

But he defends himself. In the run-up to the elections, his government advocated investing in Scotland and made a series of announcements in March highlighting the more than £ 800 million newly designated funding.

Aside from government programs to protect jobs during the COVID-19 pandemic, such as the apprenticeship system, ministers hope to move forward with a law that emerged from another “independence” line: Britain’s division from the European Union.

The Single Market Act, which came into force in December 2020, once gave Great Britain the opportunity to suspend its divorce treaty previously agreed with the EU, which infuriated Brussels and was condemned by critics as a betrayal of international law.

After the separation is complete, provisions of the law that were overlooked in the Brexit series will be used to try to hold the UK together so that London can essentially bypass the Scottish government by allowing the government to put projects into the Infrastructure, education, finance directly. Culture and sport.

The government refers to its £ 4.8 billion leveling-up fund over four years, with at least £ 800 million earmarked for Scotland, Wales and Northern Ireland, or its £ 220 million Community Renewal Fund for the UK, the topping up existing EU funding to pave the way for a new UK fund for shared prosperity.

This will replace the funds provided by the EU, the government says, adding that decisions about where to invest money are made at “the UK level, not Brussels”.

This has led to cries of opposition at the SNP, who see it as little more than a takeover of power. This would undermine two decades of decentralization, which gives the Scottish Government and Parliament more decision-making power in certain areas and a cut from what it has received from the EU, it said.

But it also represents a challenge for the SNP, which is pushing for a new independence referendum as soon as possible after the coronavirus pandemic. The SNP doesn’t want to be seen refusing money for parts of Scotland just because the funding comes from Westminster.

“They believe that plastering union flags will make a difference. They will obviously be able to do a lot of publicity.” Oh, aren’t we generous, we gave this to you? “Said Philippa Whitford, the SNP legislature in the Westminster Parliament for nearby Central Ayrshire.

“So it’s all about captivating people, but in the long run, people value decentralization.”

The government denies that the act is a takeover. Alister Jack, the UK Scottish Secretary, said this month: “We needed this legislation to protect Scottish businesses and Scottish jobs.”

MISSING PARTS

The dispute, however, underscores the difficulty the UK government will face in building its Scotland strategy – applying too much pressure and reinforcing the desire of some Scots to push for independence. Polls show that Scots split more or less equally for or against independence.

So far, the government has been largely silent about what other tools it is likely to use. Johnson chose a team of advisors just last month when Johnson was leading the union protection team in Sue Gray, a former Downing Street ethics commander.

You and Senior Minister Michael Gove are seen as instrumental in drawing up the next steps in the strategy beyond the broader drive to tackle inequality across the UK.

“I would argue that there has to be a great social, cultural piece that shows the positive side of British identity,” said Luke Graham, a former advisor to Scotland on Downing Street.

For Macklin, it pays to get the government’s ear if it means the UK government is pouring funds directly into the private sector, helping the communities.

She would also see the creation of a joint UK strategy involving business leaders to aid recovery from COVID and meet government environmental goals.

“I don’t care who gets the recognition for this … regeneration project, which was realized after 12 years. It was a lot of sweat and tears. But in the end the community won.”

($ 1 = 0.7053 pounds)

Our standards: The Thomson Reuters Trust Principles.

Goal, Starbucks replace masks coverage for vaccinated prospects

A person wearing a protective mask enters a Starbucks coffee shop in San Francisco, California, United States on Thursday, January 21, 2021.

David Paul Morris | Bloomberg | Getty Images

aim and Starbucks On Monday, it was joined by a growing list of retailers and restaurants that will simplify mask requirements for fully vaccinated customers unless local or state laws require face coverings.

Companies began changing their guidelines for wearing masks in shops and cafes after the Centers for Disease Control and Prevention announced Thursday that fully vaccinated people no longer have to cover their faces indoors.

Walmart, Costco, Trader Joe’s and Publix were among the first to make mask-free shopping possible. But Home Depot, gap and Ulta Beauty are among those who said they would keep theirs pandemic Take precautions while monitoring the latest developments.

In a statement, Target also said employees do not need to wear masks when fully vaccinated. It said it would keep other security measures like extra cleaning and social distancing in its stores.

The CDC said Thursday that in most cases, whether indoors or outdoors, fully vaccinated people do not need to wear a mask or stay 6 feet away from others. People are considered fully vaccinated two weeks after receiving the second dose Pfizer– –BioNTech or Modern Vaccines or the single dose of Johnson & Johnson.

The sudden change by the federal agency created confusion and criticism. At the weekend, CDC Director Dr. Rochelle Walensky and the Chief Medical Officer of the White House, Dr. Anthony Fauci made the rounds on news broadcasts to explain and defend the policy change.

Some feel the new guidance will encourage more people to be vaccinated, However, others are concerned that policies rely too heavily on people being honest about their vaccination status. The possibility of unvaccinated people going maskless is an issue for those who have not yet been vaccinated or have children under the age of 12 who cannot yet receive the vaccine.

As of Saturday, around 47% of the US population had received at least one dose of vaccine, according to the CDC. According to the agency, around 37% are fully vaccinated.

Walmart executives said in the memo that the retailer “will continue to require unvaccinated customers and members to wear face covers in our stores and clubs.” They said the stores will have updated signs to reflect this new policy. They didn’t say whether or how Walmart will check whether customers are vaccinated or not.

For employees who want to work in a store, distribution center, or other facility without a mask, Walmart will check their status by asking if they have been vaccinated or not. It will be based on the person’s answer of “yes” or “no” in a daily health assessment.

“Integrity is one of our core values, and we trust that employees respect this principle when responding,” the memo reads.

However, in order to receive a vaccination bonus, according to Walmart, employees must present their original, completed vaccination cards to a store manager or HR manager. Starting next Tuesday, each person will be entitled to US $ 75 “as a thank you for the vaccination.” All U.S. employees below the branch manager level are eligible.

CNBC Health & Science

Read the latest coverage from CNBC on the Covid pandemic:

CDC cheered and criticized for new mask leadership; Retail workers don’t want to be vaccination police

Brazil prepares for another surge in Covid as Bolsonaro faces a parliamentary investigation into a pandemic

Air, train and bus travelers still have to wear masks even if they are vaccinated

According to the CDC, fully vaccinated people do not need to wear face masks indoors or outdoors in most environments

The company is currently evaluating whether masks may still be required for certain health and hygienic labor regulations and will be releasing additional guidance shortly. Employees can continue to wear masks as they wish.

Walmart’s policy change is a departure from other major retailersincluding aim, gap and Ulta Beauty, that is, they will be kept pandemic Logs. However, Trader Joe’s said customers could shop without a mask if they were fully vaccinated.

The update to Starbucks’ mask policy does not appear to have any impact on the wearing of the mask by baristas. Since February, the coffee chain has been requiring its restaurant employees at company-operated locations in the United States and Canada to wear multi-layer face covers or double masks. Starbucks has required face coverings in his cafes for customers since July 15th.

Starbucks shares are up nearly 4% so far this year, giving the company a market value of $ 131 billion. Business was hit by the pandemic and stay-at-home orders, but sales in the same store in the US returned to pre-pandemic levels during the second fiscal quarter.

The target stocks have risen by almost 20% since the beginning of the year. It has a market value of $ 105 billion.

Biden taxes goal large firms, so why is small enterprise nervous?

President Joe Biden speaks while visiting Smith Flooring, a minority-owned small business, to promote its American bailout plan in Chester, Pennsylvania on March 16, 2021.

Andrew Caballero-Reynolds | AFP | Getty Images

Several key policy priorities on President Biden’s agenda are aimed at curbing the wealth and power of the largest corporations. However, as the debate has shifted to Capitol Hill and the president’s spending ambitions have taken by surprise in large measure, small business policy experts are increasingly feeling that it might be too early, and Main Street might be on several key issues at a time becoming a financial victim Many operations are just getting back on their feet after the pandemic.

New company incorporation dates are going in the right direction and that is a signal of confidence in the economic recovery.

“The foundation is in place for great economic recovery and a return to pre-pandemic levels, but playing with tax rates at a time like this has a dampening effect,” said Karen Kerrigan, president of the Small Business & Entrepreneurship Council.

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Some of the best-known proposals include increasing corporate tax to 28% at a time when companies like Amazon have made a payment in recent years effective tax rate of zero. Many independent contractors are also concerned about health and safety in the PRO Act, which could lead gig economy players like Uber and DoorDash to treat independent contractors as employees. The administration is vocal about his Targeting the gig economy.

No big political surprises in Biden, just questions

These proposals should come as no surprise – they were part of Biden’s platform when they ran for the presidency. Ambitious spending initiatives for infrastructure and American workers can lead to benefits in the form of economic growth and assistance to the government in funding future employee benefits.

“Proponents of the president’s proposals will show the broad economic benefits,” said Kevin Kuhlman, vice president of federal government relations for the National Federation of Independent Business, and there are small business sectors where spending could lead to growth such as broadband and infrastructure Projects. But even if these projects last a few years, they are only temporary, while the effects of tax changes could be permanent.

“They are definitely very positive about infrastructure spending, but timing is everything, and when they have a year of devastation and are digging out a huge economic hole, they just fear what further impact tax increases will have,” Kerrigan said. “Is it just the opening salvo? We are spending a lot of money. There will be more tax increases to pay the whistler than we know today, and that’s a big problem,” she added.

Corporate tax hike and small business

Anthony Nitti, national tax partner at RubinBrown, said business owners who have paid attention shouldn’t wake up in shock after Biden’s latest tax policy was revealed this week. There weren’t any big surprises in that latest tax proposals, but there have been some additions and omissions that are noteworthy.

For many small businesses, it is good news that the president did not highlight an increase in social security wage tax contributions, which were considered to double from current levels at higher income levels. “We didn’t see that in the last proposal,” said Nitti. “Entrepreneurs will be relieved.”

There was also no new discussion of changes to the pass-through deduction for companies established as S-companies and partnerships that could expire at higher income levels. However, if the pass-through treatment, which allows for a 20% business income deduction, is not revised and C companies are subject to a higher corporate tax rate, the way small businesses are included in the future could be reversed, says Nitti.

S-corps and partnerships could end up in a favorable tax position compared to a C-corpus if the corporate tax rate rises to 28% – if Congress levels off at 25%, the math would change. But with the 20% income deduction available to pass-through businesses, even at a top tax rate of nearly 40%, the structure could be more attractive. Lowering the corporate tax rate to 21% under Trump eliminated the benefits of the pass-through structure, but that could “change dramatically,” Nitti said.

Kuhlman said there was major concern about the C-corp problem for the smallest businesses, as the corporate income tax hike was not discussed in terms that would be graduated for smaller, lower-income businesses. “The target here is the largest companies, many of which do not pay corporation tax. The problem, however, is that two-thirds or more than the companies are small businesses,” Kuhlman said, noting that the majority of the C-Corps are has done income less than $ 1 million.

Capital Gains Taxes and Corporate Ownership

Eliminating the current long-term capital gains rate for those with taxable income greater than $ 1 million would mean it would drop to the highest ordinary income level of 39.6%, which is nearly double the highest rate of 23.8% below is the law and would have a major impact on selling a business to an owner above the taxable income threshold.

In a recent analysis written for Forbes, he concluded that for companies currently set up as C companies – and more moved into that structure after the 2017 tax law changes – coupled with the proposed increase in the corporate rate of 21% to 28%. the combined maximum rate for shareholders would increase from around 40% to almost 60%.

“When I’m a business owner, I walk away from this week with two thoughts: I don’t know if my business will be in the right structure and if I plan to keep it going. In the long term, I’d better accelerate my exit strategy, if capital gains really double in the future, “said Nitti.

“Tax policy is the biggest disadvantage in my opinion. Small to medium-sized companies want to operate in a stable political environment,” said Kerrigan. “The back and forth about tax rates makes it difficult to plan.”

The PRO Act and Employee Benefits

Some of the tax proposals that focus on high net worth individuals will be negative for the minority of small business owners in the highest income brackets, and many independent contractors may not have this as a primary concern, but it is the PRO law that seeks to rank more freelancers than White-collar workers is the priority of Biden’s policy that this segment of the small business community has largely rejected. One recently Targetable survey found that 45% of small businesses said it would destroy their business.

“It seems that these guidelines are aimed at large companies, but the problem is that it weighs on smaller companies,” Kuhlman said. He said the “ABC test” was used to qualify employees under the PRO Act would violate independent contractors and franchisees, as well as any business that requires the flexibility of using independent contractors.

There is also a push and pull of other progressive political initiatives. President Biden’s support for the Earned Income Tax Credit and Child Tax Credit can benefit small businesses by easing wage pressures. However, these benefits can be reduced when set against the president’s support for raising the federal minimum wage to $ 15 Sickness and family leave benefits This can impose more funding needs on employers.

While the latest proposals provide a more complete picture of what the administration is seeking, these multiple elements of employee benefits that can be passed on to employers in the form of increased labor costs leave the small business sector “with more” questions than answers “, at least for the time being. “said Kuhlman. While general public support for Biden’s policies may have been more focused on the benefits of spending on infrastructure, small business owners are more used to being sensitive to the cost side.” There are some concerns about the bottom line is not well aligned and the government has to come back to do more, “he said.

Goal CEO Brian Cornell says George Floyd’s homicide pushed him to take motion

Brian Cornell, Chairman and Chief Executive Officer of Target Corporation.

Anjali Sundaram | CNBC

When George Floyd was killed a year ago aim CEO Brian Cornell said he was rocked by the murder. He was concerned that it had happened so close to the company’s headquarters in his hometown.

“It could have been one of my Target team members,” he said, sharing his thoughts as he watched the video of Floyd taking his final breaths.

Cornell drew the curtain back on Tuesday on the Minneapolis-based retailer’s response to the murder and how it was led to step up its own corporate diversity and equity efforts. He spoke to in an extensive interview Ulta Beauty CEO Mary Dillon, which was hosted by the Economic Club of Chicago. The event, which was originally scheduled for last Tuesday, was postponed before the verdict in the murder trial of former Minneapolis police officer Derek Chauvin on the same day. Chauvin was found guilty in all three cases in the Floyd assassination.

As a young boy, Cornell grew up in a diverse neighborhood in Queens, New York and was raised by a single mother. As an adult, he and his family lived in Asia and Europe. These personal experiences inspired his respect for women as leaders and the importance of cultural diversity, he said.

Still, he said Floyd’s murder stood apart and forced him to do more.

“I realize that it is time to take it to another level and that we as CEOs need to be the leaders of the diversity and inclusion company,” he said. “We have to be the role models driving change and our voice is important. And we have to make sure that we represent our company principles, our values ​​and our corporate purpose in the topics that are important to our teams.”

In May of last year, in the days that followed, Cornell said Target had put together a special committee to review what steps the company could take to make its workforce, C-suite and business practices better reflect the diversity of the country. He said Target has considered how it can support and promote black workers, play a role in communities, and “use our voice at the national level in influencing citizen debates and policies.”

The goal is one of many companies that have committed to do more to promote racial justice After Floyd’s murder, protests erupted in major cities and around the world. Among its commitments, the big box retailer said it would increase the representation of black employees over the workforce by 20% in the next year. The company has developed a new program that allows black entrepreneurs to develop, test, and scale products to sell at mass retailers like Target. And it promised Spend more than $ 2 billion on black-owned businesses by 2025, from construction companies building or remodeling stores to advertising companies promoting their brand.

Cornell noted the diversity of Target’s 350,000+ employees, including the board of directors and the executive team. More than half of its 1,900 or so businesses are run by female directors and over a third by black people, Cornell said.

He said he wanted the retailer to be a leader and was particularly aware during the trial last week that “the eyes of America and the eyes of the world were on Minneapolis”.

“For so many of us, this judgment was a sign of progress, a sign of accountability, but also an acknowledgment that the work is just beginning,” he said.

Scammers Goal FEMA Funeral Cash, What You Want To Know?

Scammers Target FEMA Funeral Money, What Do You Need To Know?

ROBERTSON COUNTY TENNESSEE: (Smokey Barn News) – At Smokey Barn News we were tracking unusual traffic in our obituary area. Traffic comes from all parts of the US and abroad and at any time. We weren’t sure what to do with it until we learned of a FEMA scam that was robbing families of FEMA COVID money to help survivors with funeral expenses. A by-product of the fraud would of course be identity theft.

Let’s face it, if we lose someone close to us, we may be more prone to just the right scam.

What is FEMA doing? FEMA offers financial assistance to families who have lost a loved one to COVID-19 to cover funeral expenses. Here’s why it’s so attractive to scammers. Assistance can be up to $ 9,000 per funeral and a maximum of $ 35,500 per request. Click here to login.

FEMA believes scammers are browsing obituary sections looking for COVID-19 victims. Once they have a destination, they call and pretend to be FEMA representatives. “We hear that you lost a loved one to COVID-19, we can help.” The scammer then collects social security and other personal information. After that, the scammer can apply for the FEMA money himself or simply sell the information on the internet.

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To begin with, FEMA will NEVER call you unless you have made contact. So if you get a call it is fake.

Here’s what FEMA says: “FEMA’s Funeral Assistance Program has controls in place to mitigate fraudulent activity. FEMA will not contact anyone until they call FEMA or ask for assistance. Do not give out information such as the name, date of birth, or social security number of a deceased family member on unsolicited phone calls or emails from anyone claiming to be a federal employee or from FEMA. “

FEMA added; “If you have any doubts as to whether a FEMA representative is legitimate, hang up and report them to the FEMA hotline at 800-621-3362 or the National Anti-Fraud Center hotline at 866-720-5721. Complaints can also be filed by contacting local law enforcement agencies. “

If you’re having problems with forms or the registration process, the company handling your funeral arrangements may be able to help.

Remember, the scammers can vote for dollars and call any member of your family who may or may not know about the scam.

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‘Alaba leaving Bayern for the cash & I did the identical!’ – Kohler understands why Madrid & Chelsea goal needs out

The Austrian international will leave Bayern for a free transfer this summer. Many clubs are interested in signing him

Jürgen Kohler told the story goal that David Alaba is leaving FC Bayern Munich for money and has no problems with it, as he did.

Alaba announced last month that he would be leaving Bavaria on a free transfer this summer without naming his next destination.

It has been widely reported that Real Madrid will land the Austrian, although there is interest from Paris Saint-Germain and Chelsea that can only serve to strengthen Alaba’s bargaining position.

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What was said

Kohler was a key member for Germany in the 1990s, winning the World Cup in 1990 and the European Championship in 1996, while in 1991 he exchanged Bayern for Juventus for the riches of Serie A at club level.

“It won’t be a step backwards for him, although FC Bayern is one of the three best clubs in Europe and doesn’t have to hide from anyone in terms of sporting and economic performance,” said Kohler goal of Alaba’s imminent departure

“He’s definitely taking this step for the money, and I can understand that. He’s 28 now and he’s going to sign a four or five year contract.

“He can tell me what he wants. A few euros will play a big role. But you can’t withhold that from the player. It’s perfectly legitimate and most others would do the same.”

David Alaba Bayern Munich 2020-21

While Alaba already has money beyond most people’s wildest dreams, Kohler believes that given the precarious nature of professional football, he can rightly reap its worth.

“As a professional footballer, you only have a few years to practice this profession,” said Kohler. “Serious injuries can also occur. [Niklas] With his two cruciate ligament tears, Sule can tell you a thing or two about it. Fortunately, Alaba has been spared this so far.

“I also left Bayern because of the money. Of course the move to Italy was also very good for me. Especially in terms of personal development. But that really wasn’t my first thought. It would be a nice fairy tale if I got them now told something else. “

Boateng’s Bayern future in doubt

Jerome Boateng’s contract is also expiring, but unlike Alaba, he’s the other side of 30.

Kohler doesn’t think Bayern will renew the 32-year-old defender’s deal as he believes the delay has become apparent.

“I don’t think Bayern will extend the contract,” Kohler said of Boateng. “If Bayern are convinced of a player, the talks are usually held early.” Hansi Flick opened up a different perspective for Boateng, but he also gets on board and has become more prone to injury.

“Bayern already have three top players in this position [Dayot] Upamecano, Sule and [Lucas] Hernandez who are much younger.

“I’m also sure that they will get another player to defend – maybe a replacement for [Javi] Martinez in the number six role who can also play in central defense.

“If I were in Bayern’s position, I would think about it [Denis] Zakaria. “

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