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Five things: MIT's big bond, Seaport's Summer Market, and the busiest subway stations

Five things: MIT's big bond, Seaport's Summer Market, and the busiest subway stations

Good morning, Boston. Here are the five things you need to know in local business news to start your busy Monday.
1. Is Boston ready for housing with no parking? Board says no.
A proposed 70-unit development in South Boston without dedicated parking spaces for residents could have been a model for transit-oriented housing in the city, but Grant Welker reports that the city of Boston had other ideas.
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2. MIT borrows $750M as it faces potential research funding cuts
MIT issued a $750 million bond on Friday that it said was for 'general corporate purposes,' echoing a similar step a month ago taken by Harvard University to help with costs when federal grants and contracts are at risk.
3. Seaport Summer Market to return
Isabel Hart reports that the Seaport Summer Market makes its return on May 10, plus Seaport x Black Owned Bos. Market returns for its sixth year — and more retail news.
Do you like Five Things? Make sure to subscribe — free — to our Morning Edition emails so you have it in your inbox each day.
4. Editorial: Time to step on the gas, ramp up T funding
The Business Journal's latest editorial calls on lawmakers to maintain support — and even increase it — for the T, which has seen success under the leadership of Phillip Eng.
5. Pay raises for 2025 are falling
Pay raises are so far this year slightly lower than originally projected by employers, the latest evidence of a slowing job market and a turbulent economy.
What else you need to know
By the numbers
$445.5 million — venture capital funding raised by local startups last month, as reported by BostInno
raised by local startups 220 — speed restrictions in effect on the MBTA's subway over the previous two decades, all of which have been removed
all of which have been removed 33 years —
tenure that Stephen Costello spent as president and CEO of the Bank of Canton; a successor has been chosen
to replace him
Weekend box office
The Marvel movie "Thunderbolts" led the box office this weekend with $76 million in its domestic debut.
Where's the money?
Small-business grants you can apply for in May — and where to find them.
New England Business Report
Did you hear Don Seiffert on the New England Business Report with Joe Shortsleeve and Kim Carrigan on WRKO yesterday? If you missed it, you can listen here.
Today in history
On this day in 1643, John Winthrop Jr. paid for the passage of skilled ironworkers from England to the Massachusetts Bay Colony, where they began the first successful iron works in the American colonies in Saugus in the following years. (Read more at MassMoments.org)
What's good on WERS-FM
Shaking the Tree, by Peter Gabriel
What I'm reading
Make Russia Great Again, by Christopher Buckley
What I'm watching
American Idol, on ABC/Hulu
You think your T station busy?
The Business Journal for the second year has analyzed transit data from the MBTA in order to rank ridership trends across the city and determine the subway system's busiest train station.
Last year's data showed that more passengers passed through the Red Line gates at South Station than any of the 71 gated stations where passengers have to swipe a transit card or use tap-to-pay on their phone. This past year, the MBTA's busiest station is where the Green and Orange lines meet: North Station.
The ranking by Jess Aloe and Sean McFadden can be seen here, while Grant Welker's reporting shows that the development on and around Causeway Street helped boost transit swipes at the North Station in 2024. Despite the growth in ridership at North Station, the number of riders entering nearly every T station in the MBTA network decreased compared with pre-pandemic 2019. In fact, 2024 passenger counts remain down 46% from 2019 — meaning nearly 67 million fewer passenger entries at all stations last year compared to five years ago.
For more charts, graphs and interesting facts about your favorite T station — as well as six projects coming down the track at the MBTA, check out the cover story in the latest Weekly Edition.
PARTING SHOT
Yesterday was Star Wars Day — May the Fourth (be with you). Below, Carl Sagan takes the fun out of "Star Wars: A New Hope," speaking with Johnny Carson in 1978 about the reality of physics in science fiction. But Sagan's not wrong about the anti-Wookiee discrimination.
Subscribe to the Morning Edition or Afternoon Edition for the business news you need to know, all free.
Busiest MBTA Train Stations
Estimated gated entries for calendar-year 2024
Rank Prior Rank Station
1
4
North Station
2
1
South Station
3
2
Downtown Crossing View this list

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Online Tax Firm MyExpatTaxes Alerts Expats: Final Chance to Claim 2021 Stimulus Payments
Online Tax Firm MyExpatTaxes Alerts Expats: Final Chance to Claim 2021 Stimulus Payments

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Online Tax Firm MyExpatTaxes Alerts Expats: Final Chance to Claim 2021 Stimulus Payments

Vienna, June 10, 2025 (GLOBE NEWSWIRE) — MyExpatTaxes, a leading US expat tax company known for its support of U.S. citizens living overseas, is highlighting an important upcoming deadline for American expatriates. By June 16th, expats must act to claim the 2021 stimulus payments. This deadline represents the final opportunity for expats who haven't already to benefit from COVID-19 economic stimulus payments, which can total thousands of . MyExpatTaxes is urging individuals not to miss out on this opportunity. As the U.S. is one of just two countries that taxes based on citizenship rather than residence, Americans living abroad have to report their worldwide income by filing a U.S. tax return every year. Many Americans expats are unaware of this requirement to file from overseas though, so get behind in their filing. The IRS has an amnesty program for these expats though called the Offshire Streamlined Filing Compliance Procedures. This process offers a chance for overseas Americans who have unintentionally failed to meet their filing obligations to catch up on their U.S. tax filing without facing penalties. It requires submitting the last three years of tax returns and, where applicable, up to six years of Foreign Bank and Financial Accounts Reports (FBARs). The procedure can seem complex, but with MyExpatTaxes offering either self-service or guided assistance, expats can find a sense of relief with easy access to tools like a US expat tax calculator and a stimulus check calculator found on their website. Nathalie Goldstein, CEO of MyExpatTaxes, underscores the significance of acting before the June 16th deadline for non-compliance overseas Americans, saying, 'The June 16th 2025 deadline is the last opportunity for American expatriates who may not have been aware that they have to file U.S. taxes from abroad to claim teh COVID-19 stimulus payments. It's also a valuable opportunity to get tax compliant without facing penalties. Our goal is to provide them with the guidance they need to make the most of these benefits.' Her words reflect the broader mission of MyExpatTaxes – supporting American expats in navigating what can often be a daunting process filing from overseas (often as well as filing taxes in the country where they reside). The 2021 expanded Child Tax Credit is also available for American families living abroad. This credit offers a substantial benefit of up to $3,600 per child, refundable for qualifying families. Timely filing is critical to claim this credit, ensuring families don't inadvertently miss out. To aid in this, expats can access comprehensive guidance and information on the Streamlined Procedures through MyExpatTaxes' dedicated page: Adding to the firm's efforts, Goldstein remarks, 'The potential gains for catching up and filing for 2021 for expats who qualify for the stimulus payments are typically far outweigh the costs of becoming compliant. Our platform is designed to simplify the tax filing process for U.S. citizens abroad, offering practical solutions and expert support. With the deadline imminent to claim these valuable payments, we're dedicated to helping expatriates claim what they are rightfully owed.' This statement emphasizes MyExpatTaxes' commitment to easing the stress associated with U.S. tax filing for expats. To further assist expats, the company has developed easy-to-use resources such as tax guides, quick start checklists, and webinars available on their website. These resources provide education and support, aimed at simplifying and demystifying the intricacies of international tax reporting for Americans living abroad. User testimonials and official reviews highlight the effectiveness and reliability of MyExpatTaxes' services, reinforcing their reputation as a helpful aid for expats. As the June 16th deadline approaches, expats need to be vigilant. Missing this date means losing out on the chance to claim the stimulus payments for good. Through proactive action and using MyExpatTaxes' offerings, expatriates can not only ensure compliance but also capitalize on available benefits. MyExpatTaxes remains committed to guiding expatriates through these important periods, helping them understand and fulfill their tax responsibilities while maximizing their eligible claims. For those seeking to learn more or benefit from these services, they can learn more through the platform's site: The resources provided are not just about fulfilling obligations – they also empower expats to take control of their financial responsibilities with confidence. ### For more information about MyExpatTaxes, contact the company here: MyExpatTaxesMackenzie Passegger [email protected]

'Collateral damage': Fund managers lobby Congress over Section 899 to avert foreign investors leaving the U.S.
'Collateral damage': Fund managers lobby Congress over Section 899 to avert foreign investors leaving the U.S.

CNBC

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'Collateral damage': Fund managers lobby Congress over Section 899 to avert foreign investors leaving the U.S.

American fund managers are lobbying Congress over a provision tucked inside President Donald Trump's tax bill that they say could lead to foreign investors "quickly" pulling investments out of the U.S. The "One Big Beautiful Bill Act," which passed through the U.S. House of Representatives in May, aims to penalize foreign-owned firms operating in the U.S. and that are from countries with "unfair foreign taxes" under a provision known as Section 899. It is currently being considered by the Senate. The Investment Company Institute (ICI), which represents fund houses in the U.S., is lobbying Congress for an amendment as it warns the bill in its current form also impacts most foreign investments in U.S. stock markets, according to documents seen by CNBC. "In order to avoid the impact of section 899, portfolio investors are likely to retreat quickly from US equities, leading to capital outflows from the United States," the ICI said in a letter sent to Senator Mike Crapo, the chairman of the Senate Finance Committee, on June 5. "If sustained selling by foreign investors depresses US equity markets, this would harm both US companies and investors." Section 899 aims to introduce retaliatory tax measures against entities from countries that have levies such as the Digital Services Taxes and the OECD's global minimum tax rules. If signed into law, it could impact investors from the European Union, the United Kingdom, Canada, Australia, and Switzerland, among others. The tax would start at 5% and escalate by five percentage points annually to a maximum of 20%, on top of existing taxes, which vary by country and tax treaties. That could dent returns for foreign investors in U.S. equities. In the letter, the ICI also suggests that the U.S. fund management industry, which has collectively invested around $18 trillion in U.S. stock markets, would be "collateral damage" due to the impact of Section 899. "We do believe, however, that the current drafting of proposed section 899 should clarify its scope and avoid discouraging foreign investment in US equity markets through 'investment funds' such as US mutual funds and ETFs and their foreign counterparts (e.g., UCITS funds)," the ICI said. The letter to Senators goes on to say, "section 899 would penalize these funds and their shareholders by taxing passive income from US equity investments. To this end, investment funds would be collateral damage to the intended focus of section 899." Funds typically charge fees as a percentage of assets under management, and a withdrawal by foreign investors, over Section 899 concerns, could lead to lower earnings for the investment management firm. The Senate Finance Committee declined to comment, and Senator Mike Crapo's office did not respond to CNBC's request for comment. Foreign investors own $19 trillion in the U.S. stock markets, $7 trillion in U.S. government bonds, and $5 trillion in U.S. credit, according to data compiled by Apollo Global Management. The ICI said it's largely in support of the U.S. government's attempt to "protect US business interests overseas and to address discriminatory foreign taxes." However, it cautions that the current draft of the bill does the opposite. "Some foreign governments may actually cheer this capital flight from the United States because it benefits their local equity markets, which is not the behavioral incentive that Section 899 seeks to achieve," it said. Yuri Khodjamirian, chief investment officer for Tema ETFs, said investors in Europe who are focused on dividend-distributing U.S. companies would be "thinking quite carefully" about their holdings at this stage. "If suddenly you have to pay tax on that income, why would you hold that?" Khodjamirian questioned. Tema ETFs runs the American Reshoring ETF that is available to both U.S. and foreign investors. Tax experts suggest earnings paid out to foreign investors are more likely to be hit by Section 899 than capital gains and other methods of shareholder distributions. The Tema ETFs investment chief cautioned that the impact on the U.S. equities market would be relatively minimal as U.S. companies, say in the S&P 500, are typically not known for their dividends. "In the US, dividend yields are quite low. There's not a lot of companies paying. And most of the capital gets returned to share buybacks," Khodjamirian told CNBC. "Is that actually going to be that big of an issue then?"

Form 8.5 (EPT/RI)- Craneware plc
Form 8.5 (EPT/RI)- Craneware plc

Yahoo

time2 hours ago

  • Yahoo

Form 8.5 (EPT/RI)- Craneware plc

FORM 8.5 (EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the 'Code') 1. KEY INFORMATION (a) Name of exempt principal trader: Investec Bank plc (b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree Craneware plc (c) Name of the party to the offer with which exempt principal trader is connected: Investec is Joint Broker to Craneware plc (d) Date dealing undertaken: 09th June 2025 (e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer? If it is a cash offer or possible cash offer, state 'N/A' N/A 2. DEALINGS BY THE EXEMPT PRINCIPAL TRADER Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. The currency of all prices and other monetary amounts should be stated. (a) Purchases and sales Class of relevant security Purchases/ sales Total number of securities Highest price per unit paid/received Lowest price per unit paid/received Ordinary shares Purchases 1,500 2057.5 2050 Ordinary shares Sales 1 2077.5 2077.5 (b) Cash-settled derivative transactions Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit N/A N/A N/A N/A N/A (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit N/A N/A N/A N/A N/A N/A N/A N/A (ii) Exercise Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit N/A N/A N/A N/A N/A (d) Other dealings (including subscribing for new securities) Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable) N/A N/A N/A N/A 3. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state 'none' None (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state 'none' None Date of disclosure: 10th June 2025 Contact name: Priyali Bhattacharjee Telephone number: +91 9768034903 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel's website at 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

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