CHICAGO: Many Western news outlets failed in their duty to correct mistaken reporting that falsely accused Saudi authorities of involvement in hacking Amazon founder Jeff Bezos’s phone, a media insider said on Wednesday. After US tabloid the National Enquirer reported in 2019 that the billionaire was having an extramarital affair with former news anchor and media personality
RIYADH: Jazan Energy and Development Co. said first-quarter net profit increased by 299 percent year on year to SR2.1 million as sales increased led by a 10.3 percent jump in agriculture and aquaculture products. Revenue rose 2.6 percent year on year to SR23.2 million, a decline of 6.3 percent on the previous quarter, the company said in a filing to the Saudi stock exchange.
LONDON: Reports emerged this afternoon that an official inquiry found that former BBC reporter Martin Bashir had commissioned fake bank statements and used “deceitful behaviour” in a “serious breach” of the BBC’s producer guidelines to secure his 1995 Panorama interview with Diana, Princess of Wales. The findings of the report indicate that Bashir lied both to the princess,
[ClearRidge] How will capital gains tax increases in 2022 impact M&A this year?
Business acquisitions accelerate in response to President Biden’s plan to double the long-term capital gains tax rate for those at the top, from 20% to 40%. When you include the 3.8% net investment income tax (NIIT) and some state income taxes, you could be looking at a 48% all-in capital gains tax rate by January 1, 2022. In this report, we discuss the biggest drivers of accelerated business sale activity, as well as analyze the outlook for eight industry sectors.
Tax increases in 2022
If you’re selling your privately held company, a key consideration may be closing the transaction before January 1, 2022 when new tax increases are likely to take effect. President Biden recently announced his plan to double the long-term capital gains tax rate for those at the top, from 20% to 40%. When you include the 3.8% net investment income tax (NIIT) and some state income taxes, you could be looking at a 48%
LONDON: Gaza-based Palestinian journalist Yousef Abu Hussein was killed on Wednesday by an Israeli airstrike on the building in which he lived. His wife and brother were injured.
Footage by Al-Araby TV showed that the building’s two upper floors were destroyed but the rest of it did not appear to be significantly damaged. Residents did not reportedly received any prior notice of the attack.
The Committee to Protect Journalists (CPJ) on Thursday condemned the killing of Abu Hussein and called on Israeli authorities to immediately clarify whether they deliberately struck his home.
On May 12, Israeli airstrikes also destroyed the Al-Shorouk building in Gaza, which housed a number of media outlets.