IRS Rejects Billions in Pandemic-Era Tax Credit Claims
Category: Economy Total Views: 92By : Editor Updated: 06-22-2024
IRS to Reject Billions in Pandemic-Era Small Business Tax Credit Claims
Claimants pertaining to a tax break during the pandemic are expected to have billions of dollars denied by the IRS. Known by its acronym, the employee retention credit (ERC), this tax break was created to help small companies during the Covid-19 outbreak. September saw the IRS stop accepting new applications because of a sharp rise in dubious claims. This moratorium will be extended, the agency has decided. Ov... Read More
Casual Dining Gains Ground Amid Rising Fast-Food Prices
Category: Economy Total Views: 164By : Editor Updated: 06-20-2024
Shift in Fast-Food Customers to Casual-Dining Chains
Consumers turning to casual dining chains are irate about high fast-food prices. This tendency shows how people are becoming more and more value and quality conscious. Chains that specialize on casual dining provide a more laid-back eating experience. They also serve food of higher caliber than fast food restaurants. Customers are looking for cheaper options to the escalating prices of fast food. Chains of casual dining are risi... Read More
Geopolitical Risks and Inventory Build Impact Oil Prices
Category: Economy Total Views: 185By : Editor Updated: 06-19-2024
Oil Prices Remain Steady Amid Market Uncertainty
Wednesday saw little change in oil prices. They maintained about their highest points over the course of seven weeks. The market is debating worries about growing hostilities. Unexpected increases in US crude inventories have also raised concerns about demand. These elements are adding to the degree of uncertainty that exists now in the market.
Brent Crude Futures Edge Lower Ahead of Expiry
September Brent crud... Read More
Gas Station Sales Decline Significantly as Retail Trends Vary
Category: Economy Total Views: 268By : Editor Updated: 06-19-2024
May Retail Sales See Slight Gain
The Commerce Department reports that in May retail sales in the US increased by 0.1%. Though it is less than the 0.2% decline that was revised for April, this rise is less than the 0.3% increase that economists had predicted. Though not inflation, the numbers have been corrected for seasonal changes. It emphasizes the difficulties Americans have with high inflation and interest rates even with the small growth. The little rise implies that buyers a... Read More
UK Inflation Reaches BOE's 2% Target Ahead of Elections
Category: Economy Total Views: 99By : Editor Updated: 06-19-2024
UK Inflation Hits BOE's 2% Target in May
UK inflation in May hit the 2% Bank of England target. Being in line with the long-term inflation target of the central bank, this is a momentous occasion. This number, which suggests a stabilisation of price growth, was verified by the Office for National Statistics. Being so close to the July national elections, this development is quite significant. Election mood and economic policies may be influenced by the central bank's achie... Read More