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Intel Unit Case Could Mean Billions In Taxes For Big Tech

PYMNTS

A tax dispute between Intel and the Internal Revenue Service could cost large technology companies billions of dollars, according to a report by The Wall Street Journal. Altera Corp, acquired by Intel, which inherited the case, sued the IRS in 2012. operations, so they can claim a business-expense deduction, which saves money.

Taxes 116
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Bank Of England Tells HSBC To Tighten Fraud, Staff Compliance

PYMNTS

The shortcomings were pointed out by Prudential Regulation Authority regulators. HSBC posted an 18 percent loss in pre-tax profits for the third quarter of 2019 compared to the same period last year, reports said. billion in pre-tax profits, below analyst expectations, with revenue at $13.36 The quarter posted $4.8

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Wells’ Woes, Stripe’s Acquisition And North Korea’s New Hacking Groove

PYMNTS

Regulators are reportedly inquiring about how a lawyer for wealthy customers of Wells Fargo came to access so large a trove of customer information. Regulators have reportedly informally reached out to the attorneys involved in the lawsuit underlying the release of information to figure out how the data breach happened.

Taxes 100
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Credit Union Helps US Marijuana Businesses Put Down Roots

PYMNTS

This forces many operations to continue using cash. GFA spent time researching how Colorado was affected after it legalized recreational marijuana in 2012: The state’s marijuana businesses were often beset by break-ins, robberies and even murders. We want to make sure every ‘t’ is crossed and every ‘i’ is dotted,” Sbrega said.

Colorado 126
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Challenges to monetary policy: lessons from Medieval Europe

BankUnderground

Moreover, the national currency belongs to the people, and the state’s role is to regulate it to benefit the people. This is done by ensuring money is produced according to the strictest standards and avoiding manipulating it to the king’s benefit ( inflation tax ). Medieval monetary policy operated without a central bank.

Policies 111
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FTC Puts The Smackdown On Fake Online Reviews

PYMNTS

million judgement on the defendants in this fake online review case — though, if the company pays $50,000 to the agency, as well as “certain unpaid income tax obligations,” that full judgement amount will be suspended. The power of online reviews go beyond large, distantly located eCommerce operations, too. Power of Reviews.

Online 108
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The Final CFPB Prepaid Card Rule Is Here (Expect Controversy)

PYMNTS

The use of prepaid cards has exploded over the last decade or so — in 2003 consumers put less than $1 billion on prepaid cards annually, but by 2012 that figure had grown to $65 billion and by 2018 that figure is projected to reach as much as $121 billion. The user base of prepaid cards has grown significantly as well.

Cards 189