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President Donald Trump displays the signed bill during a ceremony for the One Big Beautiful Bill Act on the South Lawn of the White House in Washington, D.CKent Nishimura/Bloomberg President Donald Trump’s tax and spending law will deal a financial blow to the poorest Americans while boosting the income of wealthier households, according to a new analysis from the Congressional Budget Office.The poorest 10% of households will lose an average of about $1,200 in resources per year, amounting to a 3.1% cut in their income, according to the analysis released Monday of the “One Big Beautiful Bill Act.” Households in the highest…

Signage is displayed outside the Sinclair Broadcast Group Inc. headquarters in Cockeysville, Maryland, U.S.Andrew Harrer | Bloomberg | Getty ImagesSinclair, one of the largest broadcast station owners in the U.S., is launching a strategic review of its broadcast business that could result in a merger, the company said Monday.The company and its advisors have already held deep discussions with potential merger partners, according to people close to the matter who could not speak publicly due to the sensitive nature of the talks. Still, it’s too early to determine a valuation for a potential deal, they added.At the same time, Sinclair…

Global trade and tax policy questions with as-yet elusive answers could expose the U.S. economy and clients’ investment portfolios to difficult tests in coming months.On the one hand, the One Big Beautiful Bill Act became law without a so-called revenge tax on foreign investments in the U.S. after member countries in the G-7 agreed in principle to a “side-by-side” setup exempting America from minimum global duties. On the other, the mix of confusing calculations about the size and impact of President Donald Trump’s tariffs and the rates of inflation, unemployment and corresponding decisions by the Fed is fueling macro-level fears…

An accountant from the San Fernando Valley in Los Angeles was charged by the Department of Justice for embezzling more than $1.9 million from film productions that employed him.Joshua Mandel, 46, was charged with six counts of wire fraud. He used the funds to stay at Las Vegas hotels and “socialize with pornographic actresses,” according to the Justice Department.According to the indictment, Mandel owned First J Productions, where he served as both CEO and chief financial officer. He also worked as a film production accountant, specializing in accounting services for independent film. In this role, he oversaw cash flow, payroll,…

Philadelphia Eagles wide receiver DeVonta Smith, #6, scores a touchdown during Super Bowl LIX between the Philadelphia Eagles and the Kansas City Chiefs at the Superdome in New Orleans on Feb. 9, 2025.Icon Sportswire | Icon Sportswire | Getty ImagesDisney’s ESPN and Fox Corp. are teaming up to offer their upcoming direct-to-consumer streaming services as a bundle, the companies said Monday.The move comes as media companies look to nab more consumers for their streaming alternatives, and draw them in with sports, in particular.Last week, both companies announced additional details about the new streaming options. ESPN’s streaming service — which has…