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The U.S. Supreme Court upheld the $8.6 billion Universal Service Fund, the annual slate of subsidies that helps cover the cost of telecom services for low-income people, rural residents, schools and libraries.Voting 6-3, the justices rejected contentions that Congress unconstitutionally handed off its taxing powers when it set up the program in 1976. The fund uses a charge imposed on monthly phone bills — in an amount determined by the Federal Communications Commission — to subsidize service for more than 8 million people.”No impermissible transfer of authority has occurred,” the court majority wrote in its opinion. The ruling reversed a federal…

Nike stock soared 17% on Friday after the company said the worst of its struggles are behind it, following a better than feared fiscal fourth-quarter earnings report. Nike on Thursday reiterated it would take the biggest financial hit from its turnaround plan during the quarter, soothing investors who worried President Donald Trump’s tariff hikes on key Nike manufacturing hubs like China and Vietnam would derail the company’s comeback.Nike posted a poor fourth quarter, as sales dropped 12%, net income plunged 86% and profit margins dwindled. But CEO Elliott Hill stressed the company has emerged from the worst of its slump, and…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump has cancelled a trip to New Jersey in a last gasp effort to persuade Congress to pass his landmark tax and spending bill by his July 4 deadline. The president had been due to end the week at his golf club in New Jersey but will instead remain in Washington to lobby Senate lawmakers to pass the so-called “big, beautiful” bill, according to a White House official. “The president is adamant about seeing this bill on his desk here at…

The Supreme Court Andrew Harnik/Getty Images hide caption toggle caption Andrew Harnik/Getty Images The Supreme Court on Friday upheld a program providing subsidized internet and phone service to underserved communities across the United States. The vote was 6-3. Conservative groups challenged the program, contending that Congress exceeded its powers in enacting legislation that delegated to the Federal Communications Commission the task of operating the Universal Service Fund, a program that provides subsidized telephone and internet services to rural healthcare providers, schools and libraries, and low income Americans. But the Supreme Court rejected that argument. Writing for the six-member court majority,…

The U.S. Supreme Court Kevin Dietsch/Getty Images hide caption toggle caption Kevin Dietsch/Getty Images The U.S. Supreme Court on Friday said it would reargue Louisiana’s congressional redistricting plan in its next term, after this summer. At issue is the Louisiana legislature’s creation of a Black-majority congressional district. A group of voters sued, arguing that the state legislature had unconstitutionally relied on race in drawing new congressional district lines. Louisiana’s population is roughly one-third Black. But after the 2020 Census, the state legislature drew new congressional district lines that provided for only one majority-Black district in a state that has six…

The Supreme Court Samuel Corum/AFP via Getty Images hide caption toggle caption Samuel Corum/AFP via Getty Images The Supreme Court Samuel Corum/AFP via Getty Images The U.S. Supreme Court on Friday upheld a Texas law requiring consumers to provide age verification in order to gain access to commercial websites that provide sexually explicit material. It was the first time that the court has imposed requirements on adult consumers in order to protect minors from having such access. Free-speech advocates argued that while the law’s goal is to limit minors’ access to online sexually explicit content, it is overly vague and…

The U.S. Supreme Court Kayla Bartkowski/Getty Images hide caption toggle caption Kayla Bartkowski/Getty Images The Supreme Court in a 6-3 decision along ideological lines on Friday sided with the Trump administration’s request to limit universal injunctions issued by federal courts. The opinion in the birthright citizenship case was highly anticipated. “Universal injunctions likely exceed the equitable authority that Congress has given to federal courts,” the conservative majority said. “The Court grants the Government’s applications for a partial stay of the injunctions entered below, but only to the extent that the injunctions are broader than necessary to provide complete relief to…

Travel and expense solutions provider Emburse launched the new Sage Intacct Connector for Emburse Professional, an enhanced integration with accounting solutions platform Sage. With the new solution, Emburse Professional and Sage Intacct are bridged through bidirectional data synchronization. This means that expense data is coded and posted into Sage on-demand, while updates to vendors, customers, project codes and employee records flow back into Emburse. … Wiss, an accounting and business advisory firm, and Rillet, a AI-native enterprise resource planning platform, announced a strategic partnership that will allow businesses to gain access to a co-sourced accounting model that blends technology and…

Senate Republicans’ effort to use President Donald Trump’s massive tax bill to eliminate regulations on short-barreled rifles, short-barreled shotguns and silencers has hit a roadblock with the chamber’s rules-keeper. The Senate parliamentarian decided the policy provisions violate the fast-track budget rules Republicans are using to avoid a filibuster and pass Trump’s legislative agenda with only GOP support. The regulations, first enacted in 1934 during the Great Depression to counter organized crime and gang violence, have long been a target of gun rights’ groups like the Gun Owners of America and the National Rifle Association. Under the GOP plan, only machine guns and certain…

The Pennsylvania House of Representatives unanimously passed a bill on Thursday that establishes an additional path to CPA licensure, and it awaits Gov. Josh Shapiro’s signature.Backed by the Pennsylvania Institute of CPAs, the legislation passed the Senate on June 11. It creates another pathway to licensure, in addition to the current 150-hour path, which requires 120 credit-hours, two years of experience and passing the CPA Exam. It also ensures interstate mobility, allowing out-of-state CPAs to practice in Pennsylvania. Picasa/Katherine – Fotolia “The future is so bright — we’re excited that the profession has come together to make this change to…