Author: Editor

When Indian Prime Minister Narendra Modi stood on the ramparts of the 17th century Red Fort in New Delhi and announced a cut to consumption taxes, he took many of his own officials by surprise.For the past year, bureaucrats had made steady progress in talks to overhaul the country’s complex goods and services tax, but they were still several months away from making an announcement, an official in New Delhi involved in the discussions said. State finance ministers, who will need to manage the bulk of the revenue losses from the tax cuts, say they weren’t consulted beforehand. The officials…

The European Union hit back at President Donald Trump’s claims that digital regulations abroad are unfair, a day after he threatened to impose tariffs and other penalties on countries that tax online services ranging from social media to e-commerce.”It’s the sovereign right of the EU and its member states to regulate our economic activities on our territory that are consistent with our democratic values,” European Commission spokeswoman Paula Pinho told reporters Tuesday in Brussels. Without specifying any government, Trump threatened export restrictions on U.S. advanced technology and semiconductors and higher tariffs in retaliation for nations’ digital services taxes that hit American…

Uncertainty around tariffs has caused even the wealthiest buyers of Lamborghini supercars to hold off on their purchases, CEO Stephan Winkelmann told CNBC.While the White House recently announced an agreement with Europe on a 15% tariff rate, that rate hasn’t yet taken effect for cars. Lamborghini and other European automakers are still paying a tariff rate of 27.5% on exports to the U.S. With the price of a Lamborghini starting at $400,000, many buyers are choosing to wait for more stable tariff rates before buying, Winkelmann said.”Some are waiting because they want to be sure that this is the final…

Annex, a Scion community in Oxford, Ohio, that serves students of Miami University.Courtesy of ScionA version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox.Consumers are increasingly concerned about the state of the economy, and that is affecting yet another real estate sector — student housing. Rent growth in the sector slowed to just 0.9% in July across 200 colleges…

A Frontier Airlines plane near a Spirit Airlines plane at the Fort Lauderdale-Hollywood International Airport on May 16, 2022 in Fort Lauderdale, Florida.Joe Raedle | Getty ImagesFrontier Airlines is going after customers of Spirit Airlines, whose financial footing has gotten so shaky in recent weeks that it warned earlier this month it might not be able to survive another year without more cash.Frontier on Tuesday announced 20 routes it plans to start this winter, many of them in major Spirit markets like its base at Fort Lauderdale International Airport in Florida. Frontier overlaps with Spirit on 35% of its capacity,…

Tennis legend Billie Jean King has been a fearless advocate for women’s rights and women in sports since early in her career, but she said there’s still work to do.King made history in 1973 when she defeated top tennis player Bobby Riggs in the famous “Battle of the Sexes” match. Over 90 million people worldwide tuned into the match, according to BJK’s official website. It is the basis for the 2017 movie of the same name starring Emma Stone and Steve Carell.Building on her strides for women in sports, King helped found the Women’s Tennis Association and became its first…

Eli Lilly Biotechnology Center is shown in San Diego, California, U.S. March 1, 2023. Mike Blake | ReutersEli Lilly on Tuesday said its daily weight loss pill helped patients with obesity and Type 2 diabetes shed weight in a late-stage trial, meeting the study’s main goal and clearing the way for the company to file for approval of the drug globally. The treatment is inching closer to becoming a new, needle-free alternative in the highly lucrative market for weight loss and diabetes drugs called GLP-1s. More convenient pills could boost supply for the treatments and make them easier to access than…