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Sam Altman Confirms Molotov Cocktail Incident and Responds to "Incendiary" New Yorker Investigation The Hollywood ReporterSFPD arrests young suspect who allegedly threw Molotov cocktail at home of OpenAI CEO Sam Altman Mission LocalMolotov Cocktail Is Hurled at Home of Sam Altman, OpenAI's CEO The New York TimesSuspect in Molotov cocktail attack on Sam Altma's San Francisco home identified NBC Bay Area
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Sheriff's lieutenant with million-pound fireworks stash led to deadly blast, prosecutors say Los Angeles Times8 people indicted in deadly Esparto explosions case: Who's who and their charges KCRAMultiple people face charges, including murder, in California fireworks blast The GuardianEight Arrested in Connection With Deadly California Fireworks Explosion The New York TimesOwner of Esparto fireworks company arrested at Disney
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Strait of Hormuz Constraints Keep Oil Prices Elevated Crude Oil Prices Today | OilPrice.comOil ends lower ahead of U.S.-Iran ceasefire talks, posts steepest weekly loss since 2022 ReutersThe third Gulf war will scar energy markets for a long time yet The EconomistOil is plunging, but don't expect $3 gas anytime soon. Here's why | CNN Business CNN
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Soaring energy costs led to the biggest monthly increase in the Consumer Price Index since the peak of the post-pandemic inflation crisis in June 2022.
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S&P 500 slips Friday, but index posts best week since November after fragile Iran ceasefire deal: Live updates CNBCView Full Coverage on Google News
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The S&P 500 rose 3.6 percent, its biggest weekly gain since last year. Investors are bracing for developments in peace talks between the United States and Iran, set for the weekend.
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Planned "Arc de Trump" would be over twice as high as Lincoln Memorial CBS NewsOfficials Release Design for 250-Foot Arch in Washington, as Trump Seeks Another Imprint The New York TimesDesign of Donald Trump's 'greatest and most beautiful' triumphal arch revealed Sky NewsTrump administration releases new renderings of so-called ‘Arc de Trump' The Guardian
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Prince Harry sued for libel by his former charity Sentebale, court record shows ReutersPrince Harry sued for defamation by charity Sentebale he co-founded BBCPrince Harry sued for defamation by charity he co-founded The GuardianPrince Harry Is Sued for Libel by a Charity He Founded The New York Times
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There's no way to sugarcoat this: Small and midsize businesses should be scared to death about the consequences of the Inflation Reduction Act. Unless they provide goods and services to the green energy industry, the law's unforeseen consequences could increase their operating expenses in two ways. Here's what to expect — and how to prepare.
SEE MORE Audit-Proof Your Small Business
The Inflation Reduction Act is essentially a climate change law with some health care benefits. While the new legislation doesn't include any direct tax increases on small and midsize businesses, some of its provisions have the potential to raise costs for these companies significantly.
First Reason Why Cost of Business Could Be Going Up
For one, your chances of being audited may be going up. The new bill substantially expands the Internal Revenue Service's budget: More than half of the $80 billion increase in the IRS budget over 10 years will be used to beef up enforcement through new technology and new hires. That means more audits for companies that are the least able to financially manage them. I worry for businesses that gross $5 million or less since they usually don't have excess funds to pay a lawyer $50,000 to fight the IRS if their matter proceeds to court.
In a letter to the Senate, the agency's commissioner said, "These resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans." Even so, with the hire of new auditors, it's likely that people with little or
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China and the U.S. are in the final stage of completing a trade deal, with Beijing offering to lower tariffs and other restrictions on American farm, chemical, auto and other products and Washington considering removing most, if not all, sanctions levied against Chinese products since last year.
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