A $1 million 7-Eleven stop for a Florida Lottery player in South Florida
A Royal Palm Beach man won a $1 million prize on a 7-Eleven run and claimed his money last week.
Vaughn Conlin laid out $20 for a Gold Rush Legacy Florida Lottery scratch-off game at the 7-Eleven at 10025 Belvedere Rd.. Conlin didn't get one of the four $10 million top prizes, but he found himself holding one of the 20 $1 million second prize tickets.
Conlin claimed his prize at the district office in Palm Springs, taking a one-time lump sum payoff of $640,000.
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Miami Herald
16 hours ago
- Miami Herald
G-7 agrees to exclude U.S. companies from 15% minimum tax
June 29 (UPI) -- Group of Seven nations agreed to exempt U.S. companies from a 15% minimum corporate tax rate, the countries said in a joint statement. The nonbinding deal was announced Saturday but still requires approval from the 38-member Organization for Economic Co-operation and Development that established the 2021 agreement on taxing companies. G-7 nations are part of the OECED. U.S. Treasury Secretary Scott Bessent had proposed a "side-by-side solution" for American-headquartered companies that would be exempt from the Income Inclusion Rule and Undertaxed Profits Rule "in recognition of the existing U.S. minimum tax rules to which they are subject." The massive spending bill now being considered in Congress originally included a "revenge tax" that would have imposed a levy of up to 20% on investments from countries that taxed U.S. companies. "I have asked the Senate and House to remove the Section 899 protective measure from consideration in the One, Big, Beautiful Bill," Bessent wrote in a multi-post thread on X on Thursday. The House has approved the massive legislation and the Senate is considering it. "It is an honorable compromise as it spares us from the automatic retaliations of Section 899 of the Big, Beautiful Bill," Italian Finance Minister Giancarlo Giorgetti told local media. "We are not claiming victory, but we obtained some concessions as the U.S. pledged to engage in OECD negotiations on fair taxation," an unnamed French official told Politico Europe. The official called the "revenge tax" a potentially "huge burden for French companies." Trump has criticized this provision because he said it would limit sovereignty and send U.S. tax revenues to other countries. "The Trump administration remains vigilant against all discriminatory and extraterritorial foreign taxes applied against Americans," Bessent wrote Thursday. Trump has imposed a July 9 deadline for U.S. trading partners to lower taxes on foreign goods, threatening high duties on the worst offenders, including 50% on goods from the 27 European Union members. In April, a baseline tariff was imposed on most U.S. trading partners, with higher rates on certain companies and products. In 2021, nearly 140 countries agreed to tax multinational companies at the 15% minimum, regardless of where they were headquartered. In late April, the European Union, Britain, Japan and Canada agreed to exempt the United States from the 15% minimum tax on companies. "Delivery of a side-by-side system will facilitate further progress to stabilize the international tax system, including a constructive dialogue on the taxation of the digital economy and on preserving the tax sovereignty of all countries," the joint statement read. The agreement, according to the statement, would ensure that any substantial risks identified "with respect to the level playing field, or risks of base erosion and profit shifting, are addressed to preserve the common policy objectives of the side-by-side system." The G-7 includes Britain, France, Germany, Italy in Europe, as well as Canada, Japan and U.S. Before 2014, the group was known as the G-8 until Russia was expelled after annexing the Crimea region of Ukraine. The chairs of the House and Senate committees responsible for tax policy cheered the agreement. "We applaud President Trump and his team for protecting the interests of American workers and businesses after years of congressional Republicans sounding the alarm on the Biden Administration's unilateral global tax surrender under Pillar 2," Idaho Sen. Mike Crapo, chair of the Senate Finance Committee, and Missouri Rep. Jason Smith, chair of the House Ways and Means Committee, said in a press release. The agreement also, however, has its critics. "The U.S. is trying to exempt itself by arm-twisting others, which would make the tax deal entirely useless," Markus Meinzer, director of policy at the Tax Justice Network, told Politico Europe. "A ship with a U.S.-sized hole in its hull won't float." Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
17 hours ago
- UPI
G-7 agrees to exclude U.S. companies from 15% minimum tax
Leaders of the G-7 nations pose for a photo in Kananaskis, Alberta, Canada, on Monday: (from left) Japanese Prime Minister Shigeru Ishiba, Italian Prime Minister Giorgia Meloni, French President Emmanuel Macron, Canadian Prime Minister Mark Carney, U.S. President Donald Trump, British Prime Minister Keir Starmer and German Chancellor Friedrich Merz. The G-7 announced the U.S. would be excluded from the 15% minimum tax on American companies. Photo via G7/UPI | License Photo June 29 (UPI) -- Group of Seven nations agreed to exempt U.S. companies from a 15% minimum corporate tax rate, the countries said in a joint statement. The nonbinding deal was announced Saturday but still requires approval from the 38-member Organization for Economic Co-operation and Development that established the 2021 agreement on taxing companies. G-7 nations are part of the OECED. U.S. Treasury Secretary Scott Bessent had proposed a "side-by-side solution" for American-headquartered companies that would be exempt from the Income Inclusion Rule and Undertaxed Profits Rule "in recognition of the existing U.S. minimum tax rules to which they are subject." The massive spending bill now being considered in Congress originally included a "revenge tax" that would have imposed a levy of up to 20% on investments from countries that taxed U.S. companies. "I have asked the Senate and House to remove the Section 899 protective measure from consideration in the One, Big, Beautiful Bill," Bessent wrote in a multi-post thread on X on Thursday. The House has approved the massive legislation and the Senate is considering it. "It is an honorable compromise as it spares us from the automatic retaliations of Section 899 of the Big, Beautiful Bill," Italian Finance Minister Giancarlo Giorgetti told local media. "We are not claiming victory, but we obtained some concessions as the U.S. pledged to engage in OECD negotiations on fair taxation," an unnamed French official told Politico Europe. The official called the "revenge tax" a potentially "huge burden for French companies." Trump has criticized this provision because he said it would limit sovereignty and send U.S. tax revenues to other countries. "The Trump administration remains vigilant against all discriminatory and extraterritorial foreign taxes applied against Americans," Bessent wrote Thursday. Trump has imposed a July 9 deadline for U.S. trading partners to lower taxes on foreign goods, threatening high duties on the worst offenders, including 50% on goods from the 27 European Union members. In April, a baseline tariff was imposed on most U.S. trading partners, with higher rates on certain companies and products. In 2021, nearly 140 countries agreed to tax multinational companies at the 15% minimum, regardless of where they were headquartered. In late April, the European Union, Britain, Japan and Canada agreed to exempt the United States from the 15% minimum tax on companies. "Delivery of a side-by-side system will facilitate further progress to stabilize the international tax system, including a constructive dialogue on the taxation of the digital economy and on preserving the tax sovereignty of all countries," the joint statement read. The agreement, according to the statement, would ensure that any substantial risks identified "with respect to the level playing field, or risks of base erosion and profit shifting, are addressed to preserve the common policy objectives of the side-by-side system." The G-7 includes Britain, France, Germany, Italy in Europe, as well as Canada, Japan and U.S. Before 2014, the group was known as the G-8 until Russia was expelled after annexing the Crimea region of Ukraine. The chairs of the House and Senate committees responsible for tax policy cheered the agreement. "We applaud President Trump and his team for protecting the interests of American workers and businesses after years of congressional Republicans sounding the alarm on the Biden Administration's unilateral global tax surrender under Pillar 2," Idaho Sen. Mike Crapo, chair of the Senate Finance Committee, and Missouri Rep. Jason Smith, chair of the House Ways and Means Committee, said in a press release. The agreement also, however, has its critics. "The U.S. is trying to exempt itself by arm-twisting others, which would make the tax deal entirely useless," Markus Meinzer, director of policy at the Tax Justice Network, told Politico Europe. "A ship with a U.S.-sized hole in its hull won't float."
Yahoo
3 days ago
- Yahoo
Dollar Supported and Gold Prices Sink on Trade Deal Optimism
The dollar index (DXY00) today is up slightly by +0.07%. Positive trade news is bullish for the dollar as the US moves closer to trade deals with China and other trading partners. The dollar also found support after the US May core PCE price index, the Fed's preferred gauge of underlying inflation, rose more than expected, a hawkish factor for Fed policy. In addition, an upward revision to the University of Michigan's US June consumer sentiment index is supportive of the dollar. Gains in the dollar are limited from today's weaker-than-expected US May personal spending and income reports. Also, dovish comments from Minneapolis Fed President Kashkari weighed on the dollar when he said he sees two 25 bp Fed rate cuts this year. Dollar Falls to 3-1/4 Year Low as President Trump Looks to Fast-Track His Pick for New Fed Chair What's Driving Platinum? Dollar Supported and Gold Prices Sink on Trade Deal Optimism Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. US May personal spending unexpectedly fell -0.1% m/m, weaker than expectations of a +0.1% m/m increase. May personal income unexpectedly fell -0.5% m/m, weaker than expectations of +0.3% m/m and the biggest decline in more than 3-1/2 years. The US May core PCE price index, the Fed's preferred gauge of underlying inflation, rose +0.2% m/m and +2.7% y/y, stronger than expectations of +0.1% m/m and +2.6% y/y. The University of Michigan US Jun consumer sentiment index was revised upward by +0.2 to 60.7, stronger than expectations of no change at 60.5. The University of Michigan US Jun 1-year inflation expectations were unexpectedly revised lower to 5.0%, weaker than expectations of an upward revision to 5.2%. The 5-10 year inflation expectations were revised downward to 4.0%, weaker than expectations of no change at 4.1%. Minneapolis Fed President Kashkari said he sees two 25-bp Fed rate cuts this year, with the first potentially in September, but warned that tariffs could have a delayed impact on inflation and that policymakers should remain flexible. US Commerce Secretary Lutnick said that the US and China had finalized a trade understanding reached last month in Geneva, including a commitment from China to deliver rare earth materials. China's Commerce Ministry also confirmed the agreement and stated that it will review and approve eligible applications for the export of controlled items, and the US will cancel the restrictive measures taken against China. In addition, Commerce Secretary Lutnick said the White House has imminent plans to reach agreements with a set of 10 major trading partners ahead of a July 9 deadline for reciprocal tariffs. Meanwhile, the Treasury Department announced a deal with G-7 countries that will exclude US companies from some taxes imposed by other countries in exchange for removing the "revenge tax" proposal from President Trump's tax bill. The markets are discounting a 21% chance of a -25 bp rate cut at the July 29-30 FOMC meeting. EUR/USD (^EURUSD) today is up +0.17% at a new 3-3/4 year high. The euro has support today from the stronger-than-expected French Jun CPI report, which is hawkish for ECB policy. Also, higher German bund yields have strengthened the euro's interest rate differentials after the 10-year German bund yield rose to a 1-week high today at 2.606%. The Eurozone Jun economic confidence survey unexpectedly fell -0.8 to 94.0, weaker than expectations of unchanged at 94.8. France Jun CPI (EU harmonized) rose +0.8% y/y, stronger than expectations of +0.7% y/y. Spain Jun CPI (EU harmonized) rose +2.2% y/y, right on expectations. Swaps are pricing in a 7% chance of a -25 bp rate cut by the ECB at the July 24 policy meeting. USD/JPY (^USDJPY) today is up by +0.17%. Weaker-than-expected Japanese economic news is weighing on the yen today, following the unexpected decline in May retail sales and the less-than-expected rise in the Jun Tokyo CPI, which are dovish factors for BOJ policy. Also, today's rally in the Nikkei stock index to a 5-month high has reduced safe-haven demand for the yen. In addition, higher T-note yields today are bearish for the yen. Japan May retail sales unexpectedly fell -0.2% m/m, weaker than expectations of a +0.3% m/m increase. Japan Jun Tokyo CPI rose +3.1% y/y, weaker than expectations of +3.3% y/y. Jun Tokyo CPI ex-fresh food and energy rose +3.1% y/y, weaker than expectations of +3.3% y/y. August gold (GCQ25) today is down -69.50 (-2.08%), and July silver (SIN25) is down by -0.676 (-1.85%). Precious metals today are sharply lower, with gold sliding to a 4-week low. Today's stronger dollar is undercutting metals prices. Also, positive trade news today sparked a rally in stocks that curbed safe-haven demand for precious metals as the US moves closer to trade deals with China and other trading partners. Precious metals remained lower after today's news showed that the US May core PCE price index, the Fed's preferred gauge of underlying inflation, rose more than expected, a hawkish factor for Fed policy. Today's economic news, which showed an unexpected decline in US May personal spending and personal income, is dovish for Fed policy and supportive for precious metals. In addition, dovish comments today from Minneapolis Fed President Kashkari were positive for gold demand as a store of value, as he stated that he sees two 25-bp Fed rate cuts this year. Fund buying of gold continues to support prices after gold holdings in ETFs rose to a 1-3/4 year high Thursday. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
