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Apple commits additional $100 billion to US investments

Apple commits additional $100 billion to US investments

Reuters4 days ago
Aug 6 (Reuters) - Apple (AAPL.O), opens new tab said on Wednesday it would spend an additional $100 billion in U.S. investments, bringing its total investment commitment to the country to $600 billion over the next four years.
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IRS commissioner's removal reportedly over clash on undocumented immigrant data
IRS commissioner's removal reportedly over clash on undocumented immigrant data

The Guardian

timean hour ago

  • The Guardian

IRS commissioner's removal reportedly over clash on undocumented immigrant data

The removal of the Internal Revenue Service commissioner Billy Long after just two months in the post came after the federal tax collection agency said it could not release some information on taxpayers suspected of being in the US illegally, it was reported on Saturday. The IRS and the White House had clashed over using tax data to help locate suspected undocumented immigrants soon before Long was dismissed by the administration, according to the Washington Post. Long's dismissal came less than two months after he was confirmed, making his service as Senate-confirmed IRS commissioner the briefest in the agency's 163-year history. Treasury secretary Scott Bessent will serve as acting commissioner, making him the agency's seventh leader this year. The outlet reported the Department of Homeland Security had sent the IRS a list of 40,000 names on Thursday that it suspects of being in the country illegally. DHS asked the tax service to crosscheck confidential taxpayer data to verify their addresses. The IRS reportedly responded that it was able to verify fewer than 3% of the names on the DHS list, and mostly names that came with an individual taxpayer identification, or ITIN number, provided by DHS. Administration officials then requested information on the taxpayers the IRS identified, which the service declined to do, citing taxpayer privacy rights. The White House has identified the IRS as a component of its crackdown on illegal immigration and hopes that the tax agency help locate as many as 7 million people in the US without authorization. In April, homeland security struck a data sharing agreement with the treasury department – which oversees the IRS. But Long appears to have resisted acting on that agreement, saying the IRS would not hand over confidential taxpayer information outside its statutory obligation to the treasury. White House spokesperson Abigail Jackson rejected the notion that the IRS was not in harmony with administration priorities. 'Any absurd assertion other than everyone being aligned on the mission is simply false and totally fake news,' Johnson told the Post. 'The Trump administration is working in lockstep to eliminate information silos and to prevent illegal aliens from taking advantage of benefits meant for hardworking American taxpayers,' she added. In fact, undocumented immigrants paid $96.7bn in federal, state and local taxes in 2022, including $59.4bn to the federal government, helping to fund social security and Medicare, despite being excluded from most benefits, according to an analysis from the Institute on Taxation and Economic Policy thinktank. DHS told the Post that its agreement with IRS 'outlines a process to ensure that sensitive taxpayer information is protected, while allowing law enforcement to effectively pursue criminal violations'. Pressure on federal agencies to conform to administration priorities has also led to pressures on the Census Bureau to conduct a mid-decade population review as well as the firing of Bureau of Labor head last week after it published a unfavorable job report. After being dismissed on Friday, Long, a former six-term Missouri congressman, said that he would be the new US ambassador to Iceland. 'It is a honor to serve my friend President Trump and I am excited to take on my new role as the ambassador to Iceland,' Long said in post on X. 'I am thrilled to answer his call to service and deeply committed to advancing his bold agenda. Exciting times ahead!' He followed that up with a more humorous entry that referred to former TV Superman actor Dean Cain's decision, at 59, to join to the Immigration and Customs Enforcement (Ice) agency. 'I saw where Former Superman actor Dean Cain says he's joining ICE so I got all fired up and thought I'd do the same. So I called @realDonaldTrump last night and told him I wanted to join ICE and I guess he thought I said Iceland? Oh well.'

It looks like an abandoned piece of land but it is set to become an insane $98million project in booming city
It looks like an abandoned piece of land but it is set to become an insane $98million project in booming city

Daily Mail​

timean hour ago

  • Daily Mail​

It looks like an abandoned piece of land but it is set to become an insane $98million project in booming city

What looks like an abandoned lot covered in brush and dirt is about to be transformed into a massive $98million shopping destination in one of America's fastest-growing cities. Hackberry Market, a 211,000-square-foot retail development, is set to bring major names like Home Depot, Hobby Lobby, TJ Maxx and Burlington to south Broken Arrow, Oklahoma. City officials confirmed the project will sit on more than 30 acres of land. The sprawling retail center is expected to generate more than $100million in annual sales. 'The development team and their retail and restaurant owners and operators are making a $98 million investment to construct the retail and service industry space,' a Broken Arrow press release stated. This includes over 200,000 square feet of anchor retail buildings and five outparcels for additional retail and food service space with over $100 million in annual sales projected from the development. Mayor Debra Wimpee called the move a major win for the city. 'A development like Hackberry Market is a big WIN for everyone in the City of Broken Arrow,' said Mayor Wimpee. 'Not only will it meet our residents' demand for additional retail and dining options, but the tax revenue helps fund our police, fire, streets, and all of the infrastructure that makes Broken Arrow the BEST place to live in Oklahoma and the 12th Best Place to live in the entire country!' 'It doesn't happen without amazing developers like Hackberry Market, LLC, who have incredible vision for growth.' But the city won't immediately see a flood of revenue due to a 25-year tax increment financing (TIF) district agreement in place to help fund the infrastructure needed to support the development. The TIF district is projected to rake in $120.5million in sales and use tax revenue over its lifespan. Property taxes, which support public schools and local services, will be unaffected. The project is a public-private partnership between the Broken Arrow Economic Development Authority, Hackberry Market LLC and Lockwood Development. Officials say the project could create hundreds of new jobs and serve as a catalyst for even more commercial growth on the south side of the city. Construction is set to begin soon with a grand opening expected by late 2026 or early 2027, according to city spokesman Aaron McColloch. A 'groundbreaking ceremony' took place on Thursday that celebrated the start of construction at Hackberry Market. City manager Michael Spurgeon said: 'First off, I want to personally thank Hackberry, LLC., Sooner Investment Development Company, and Lockwood Development for investing in our city and providing our citizens with job opportunities as well as additional retail, dining, and entertainment options that will improve life right here at home,' said Spurgeon. 'Secondly, the City Council should be commended for their vision and willingness to establish TIF District No. 6 to assist Hackberry LLC, with the infrastructure improvements necessary to build a project of this magnitude.' Broken Arrow has seen explosive population growth over the past two decades. it is the state's fourth largest city and last year the population grew 3,022 people to 122,756 - a 2.5 percent rise. The city has become a magnet for developers looking to tap into its booming economy. Another major shopping center is also in the works for the area. Adams Creek Town Center, a $35 million, 22-acre shopping hub on the city's north side, will bring major national retailers like Burlington, Five Below, Books-A-Million, and Pet Supplies Plus to the fast-growing Tulsa suburb. Construction on Adams Creek Town Center is expected to be completed by the end of the year with stores expected to move in and open next year.

Intel CEO to visit White House on Monday, WSJ reports
Intel CEO to visit White House on Monday, WSJ reports

Reuters

timean hour ago

  • Reuters

Intel CEO to visit White House on Monday, WSJ reports

Aug 10 (Reuters) - Intel (INTC.O), opens new tab CEO Lip-Bu Tan is set to visit the White House on Monday after U.S. President Donald Trump called for his removal last week, the Wall Street Journal reported on Sunday, citing people familiar with the matter. Reuters could not immediately confirm the report. Intel and the White House did not immediately respond to requests for comment. Tan is expected to have a extensive conversation with Trump while looking to explain his personal and professional background, the report said, adding that he could propose ways Intel and the U.S. government could work together, the report added. Tan hopes to win Trump's approval by showing his commitment to the U.S. and guaranteeing the importance of keeping Intel's manufacturing capabilities as a national security issue, the report added. Last week, Trump demanded the immediate resignation of Tan, calling him "highly conflicted" due to his ties to Chinese firms and raising doubts about plans to turn around the struggling American chip icon. Tan said he shared the president's commitment to advancing U.S. national and economic security.

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