Sunday, 25 Oct 2020

Google receives $25M tax break from Nevada to build facility

Kevin Hart Gets Quibi Sequel For His Comedy Action Series ‘Die Hart’

Mobile platform Quibi has ordered a Die Hart sequel from Kevin Hart and LOL Studios. Dubbed Die Harter, the new series picks up from season one, where Hart played a version of himself trying to step out of the role of “comedic sidekick” by going to the world’s greatest action star school.

While there, the school’s lunatic director (John Travolta) and tough-minded rival student (Nathalie Emmanuel) pushed him to his limits, as he was thrown into the deep end.

“LOL Studios is excited to produce season 2 of Die Hart and continue our work to bring premium comedic content and new IP to market,” said Jeff Clanagan, President of Laugh Out Loud.

Season one of the series was the most-watched show of the summer, Quibi claims. The series is produced by Hart and Clanagan for LOL Studios. Hart will serve as executive producer, along with Candice Wilson (LOL Studios) and Bryan Smiley (HartBeat productions). Joining them are Tripper Clancy and Thai Randolph.

US census overshadowed by legal disputes

Dozens of states have taken unprecedented measures to ensure as many of its citizens are counted in the census.

Every 10 years, when the US government conducts a census, it is typically a routine affair. But this year, it has been marred by court challenges and allegations of politicisation. The census determines billions of dollars in federal funding for states as well as seats in the House of Representatives.

As Al Jazeera’s Natasha Ghoneim reports from Chicago, dozens of states have taken unprecedented measures to ensure as many of its citizens are counted.

Treasury Announces Details Of Two-Five, Five-Year & Seven-Year Note Auctions

The Treasury Department on Thursday announced the details of this month’s auctions of two-year, five-year, and seven-year notes.

The Treasury revealed its plans to sell $52 billion worth of two-year notes, $53 billion worth of five-year notes and $50 billion worth of seven-year notes.

The results of the two-year note auction will be announced next Tuesday, the results of the five-year note auction will be announced next Wednesday and the results of the seven-year note auction will be announced next Thursday.

Last month, the Treasury sold $50 billion worth of two-year notes, $51 billion worth of five-year notes and $47 billion worth of seven-year notes.

The two-year and five-year note auctions attracted above average demand, while the seven-year note auction attracted average demand.

AAI may suffer a loss in FY21

Airports operator has sought a ₹1,500-crore loan, says Hardeep Puri.

State-owned Airports Authority of India (AAI), which runs more than 100 airports and has been a cash-rich entity that pays a dividend to the government, will likely be in the red at the end of the current fiscal, the government told Parliament.

To run various airports at a time of depressed demand and revenue, the AAI has sought a loan of ₹1,500 crore from the State Bank of India, Minister for Civil Aviation Hardeep Puri told the Lok Sabha.

Payment deferrals

Despite this, it has allowed deferrals in annual payments to be made to it by the four biggest airports in the country — Delhi, Mumbai, Bengaluru and Hyderabad — with which it has a public private partnership agreement.

The government had ordered AAI to pay its entire profit after tax (PAT) as dividend to it from FY18, raising it from 30% of PAT it used to pay earlier. This was despite AAI’s own financial requirement for maintenance and expansion of airports. According to its last annual report, it paid ₹1,780 crore to the government in FY18.

National carrier Air India has also taken a hit and seen its revenue drop to ₹1,531 crore from ₹7,066 crore despite operating 2,600 international flights since May for the repatriation of Indians from around the world.

Podcast: Amazon exec on the company's Climate Pledge Fund

Amazon on Thursday announced the first companies to receive money from a $2 billion venture capital fund it formed to help combat climate change.

Axios Re:Cap digs into how Amazon hopes the fund will help achieve its goal of being carbon neutral by 2040, and whether the plan is more substance than spin, with Matt Peterson, Amazon's director of new initiatives and corporate development.

Here's how much your Social Security check may increase in 2021

The Social Security Administration won't announce its next annual cost-of-living adjustment until October, but there is a reliable way to predict the number ahead of time. 

The Senior Citizens League is a nonpartisan advocacy group for older Americans and has a history of accurately forecasting the annual change. The group estimates that the Social Security COLA for 2021 could be about 1.3%.

That is less than the 1.6% adjustment made for 2020 and one of the lowest increases Social Security has ever had.

Check out this video to see how much cash the new change will mean for your benefits. 

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CHECK OUT: Why January is a particularly great time to invest your money via Grow with Acorns+CNBC.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

Google receives $25M tax break from Nevada to build facility

RENO, Nev. (AP) — Google will receive more than $25 million in tax breaks after pledging an additional $600 million for a new data center in southern Nevada, state officials said.

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The company previously committed $600 million to the data center in the Las Vegas suburb of Henderson.

Google also said it would invest $600 million to build a data center at the Tahoe Reno Industrial Center in northern Nevada, bringing its total investment in the state to $1.8 billion, said Gov. Steve Sisolak. To date, the company has invested $300 million in the Reno facility.

Sisolak and seven members of the state Office of Economic Development board approved more than $25 million in tax breaks for the construction of the company’s Henderson data center. The facility is expected to open in 2021, the Reno Gazette-Journal reported.

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“This is a very good deal for Nevada,” said Michael Brown, the director of the development board. “In return for the $25 million abatement that Google will receive, the company will make a $427 million impact on the economy over 20 years and generate $94 million in tax revenue over 20 years.”

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