Latest news with #corporations
Wall Street Journal
an hour ago
- Business
- Wall Street Journal
Trump Tax Megalaw Upends Charitable Giving
Congress just reshuffled the incentives for charitable giving, providing tens of millions of middle-income households with a tax break while shrinking deductions for corporations and higher earners. The shake-up inside the 'one big, beautiful bill' that President Trump signed July 4 is expected to alter Americans' giving patterns when it takes full effect next year, and billions of dollars are riding on taxpayers' responses to restructured deductions for charitable donations.
Wall Street Journal
an hour ago
- Business
- Wall Street Journal
UnitedHealth Faces Long Road to Recovery
For years, UnitedHealth's UNH -7.46%decrease; red down pointing triangle stock was one of the surest bets in healthcare, backed by dependable double-digit earnings growth and a reputation for flawless execution. But the halo that once made it a Wall Street darling—worth over half a trillion dollars at its peak in late 2024—is gone. Whether it can be restored anytime soon is now an open question.
Bloomberg
2 days ago
- Business
- Bloomberg
Lawmakers Look to Wean Chile Off Its Capital Markets Stalwart
After almost 60 years, Chilean lawmakers are debating whether the time has come to restrict the use of an inflation-linked accounting unit that has come to dominate the country's financial transactions. Created in 1967 to prevent rampant inflation choking off long-term lending, the Unidad de Fomento, or UF, accounts for nearly all mortgages and most long-term corporate borrowing. But its use has also spread to rental contracts, health and car insurance and school fees.
Yahoo
6 days ago
- Business
- Yahoo
Top Midday Stories: Alphabet, Tesla Kick Off 'Magnificent 7' Earnings; Union Pacific, Norfolk Southern in 'Advanced' Merger Talks
Wall Street's major market averages were mixed around midday Thursday as corporate earnings continue Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
Dillard's Seeks to Reincorporate in Texas
Delaware is becoming an unpopular state for corporations. This week, Dillard's Inc. disclosed that it wants to reincorporate its business in Texas, and get out of Delaware. Since 1964, Dillard's has been incorporated in Delaware where many other retail companies and other businesses have been incorporated. More from WWD LuisaViaRoma's CEO Discusses Business Retooling Strategy, Milan Unit Closure Veralab Sets International Expansion Plans, Starting From Spain Toteme to Open Second Store in London Dillard's decision to reincorporate in Texas, which is subject to a shareholder vote, is partly due to recent decisions in Delaware courts involving other companies and corporate matters unfavorable to controlling stockholders. One such prominent case recently involved a ruling in Delaware voiding massive compensation for Elon Musk at Tesla. Consequently, Tesla decided to reincorporate in Texas last year. But a number of other major companies have also reincorporated away from Delaware this year, including the Simon Property Group, which reincorporated in Indiana, and the Trump Media & Technology Group, which incorporated in Florida. Dillard's is also citing tax liabilities and other costs associated with being incorporated in Delaware. Earlier this year, Dillard's authorized a special committee to examine reincorporating in Texas. Following 'an extensive process' Dillard's indicated in a filing with the Securities & Exchange Commission, the committee determined the move should be made. The committee retained the law firms of Vinson & Elkins and Young Conaway Stargatt & Taylor, a Delaware firm, for help on the matter. 'The special committee concluded that Texas' statute-focused approach would likely foster more predictability than Delaware's common law approach, and that predictability could be a competitive advantage,' the filing indicated. The Little Rock, Ark.-based retailer also cited 'recurring franchise tax and escheatment liabilities in Delaware, and the apparent increase in contingency fee-driven stockholder litigation in Delaware and resulting increase in insurance premiums for director and officer insurance.' As such, the company believes leaving Delaware would lower its costs. In addition, Dillard's operates 55 stores in Texas, making it the state with the retailer's largest presence. According to the filing, 'The Texas reincorporation reflects the company's strong operational nexus in Texas, preserves stockholder economic and votings rights, with expansion of rights to call a special meeting or act by unanimous written consent, may reduce frivolous litigation, and will create cost savings in terms of annual franchise tax cost and management time.' Dillard's also stated that it does not have any legal proceedings pending in Delaware. William Dillard 2nd, chairman and chief executive officer; Alex Dillard, president; Mike Dillard, executive vice president, own 27.4 percent, 27.9 percent and 26.3 percent, respectively, of the outstanding voting stock. Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns
