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Apple raises iPad and MacBook prices, blaming cost of chips amid AI boom The GuardianApple posts worst day in over a year after MacBook and iPad price hikes CNBCApple, Microsoft hike prices over surging chip costs Al JazeeraApple raises prices of MacBooks, iPads as memory costs skyrocket Reuters
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Down over 30% since the beginning of June, shares of Palantir just hit a new 52-week low
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British influencer faces possible execution in Dubai after allegedly stabbing man to death, claiming self-defense, advocacy group says CBS NewsTikTok star from Kent faces death penalty for Dubai murder BBCBREAKING: 23-Year-Old British TikTok Influencer Brooke George faces death penalty in Dubai Detained in DubaiInfluencer, 23, Faces Potential Death Penalty After She Was Charged with Murder of Her Boyfriend: Report People.com
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May US PCE inflation tops 4%, leaves Fed hike on the table ReutersFed's preferred inflation measure hits 3-year high, keeping talk of possible rate hike in play Yahoo FinanceCore inflation rate hit 3.4% in May, highest since October 2023, Fed's preferred gauge shows CNBCInflation Accelerated in May as Iran War Pushed Up Prices 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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IN A glass case at the Diyarbakir Bar Association are a striped shirt, dark coat and coiled belt. They belonged to the former chairman, Tahir Elci, a lawyer who was murdered in 2015 amid clashes between the Turkish army and Kurdish separatists. He was standing by the Four-Legged Minaret, a 500-year-old landmark in the ancient city, calling for peace. Someone shot him in the head. No one knows who killed him. The government blames Kurdish terrorists. Many Kurds blame the government. After Elci's death, the army pounded the rebel-held part of Diyarbakir to rubble. The debris, including body parts, was heaped onto trucks and dumped by a river. Locals are scared to talk about any of this.
Barely a decade ago, Turkey was a budding democracy and aspired to join the European Union. Now it is galloping towards dictatorship. In 2016 army officers tried to mount a coup, putting tanks in the streets, bombing parliament and nearly assassinating the president, Recep Tayyip Erdogan. It was quickly...Continue reading
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