Anna's Daybreak News

Good morning news aficionados! Embark on a thrilling journey through the labyrinth of news, where we decode the headlines, unearth the hidden gems, and guide you through the ever-shifting currents of current events. 📰🌟

• Consumer price index increased 0.6% in August


• Gasoline accounted for more than half of the rise in CPI


• Year-on-year CPI rose 3.7% with the core CPI gaining 4.3%, far abbove the 2% threshold set by the Fed.


• Apollo's Slok expects that, despite the rise in inflation, the Federal Reserve will not raise interest rates in November or December.


• Looks like the Federal Reserve has no new excuse to keep interest rates unchanged next Wednesday, we just don't know which way it will go, so hold on to your wallets
Source: Read More

• SoftBank Group Corp. owned chip designer, Arm Holdings Plc, priced its initial public offering at the top end of its range to raise $4.87 billion in the largest listing of the year.


• Arm sold 95.5 million American depositary shares for $51 apiece, marking a value of $54.5 billion.


• Shares are set to begin trading on Thursday on the Nasdaq.


• It's time to bust out the popcorn, as all eyes are on what will happen with this year's largest IPO
Source: Read More

• Hackers successfully breached Caesars Entertainment Inc., stealing data and extorting the company for millions.


• The cyberattack follows the disclosure of another Las Vegas entertainment giant, MGM Resorts International, who announced their own hacking scandal.


• MGM and Caesars were both hacked in the span of a few weeks by the same group of attackers.


• Caesars Entertainment Inc. decided to pay the hackers the demanded sum of tens of millions of dollars to avoid further damage.


• One could say the hackers won big in this case as the Caesars Entertainment Inc. was willing to roll the dice and pay out.
Source: Read More

• The Internal Revenue Service has announced a series of initiatives targeting high-income earners, partnerships, large corporations and promoters abusing the nation's tax laws.


• The initiatives follow an “top to bottom review of enforcement work”, thanks to increased dollars from the Inflation Reduction Act.


• For fiscal year 2024, the IRS has identified 1,600 millionaires who owe at least $250,000 in recognized tax debt and dozens of Revenue Officers have been assigned to these cases.


• As part of the Bank Secrecy Act, those with foreign financial accounts with an aggregate value of more than $10,000 must report the account to the Treasury Department annually. An IRS analysis of multi-year filing patterns has identified hundreds of potential FBAR non-filers with an average account balance of over $1.4 million.


• The tax man is coming and there's nowhere to hide! Get your ducks in a row or suffer the consequences of being chased be the Tax Predator
Source : Read More

Baked with love,

Anna Eisenberg ❤️