IRS says Microsoft might owe about $29B in back taxes
That figure, which Microsoft disputes, stems from a long-running IRS probe into how Microsoft allocated its profits among countries and jurisdictions in the years 2004 to 2013.
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Social Security benefits to increase by 3.2% in 2024
Next year’s hike follows this year’s 8.7% benefit increase, which was brought on by record 40-year-high inflation.
UAW escalates strike as 8,700 workers walk out at Ford’s Kentucky Truck Plant in Louisville
The surprise move at about 6:30 p.m. Wednesday took down the largest and most profitable Ford plant in the world. The sprawling factory makes pricey heavy-duty F-Series pickup trucks and large Ford and Lincoln SUVs.
Fed officials signal cautious approach to rates amid heightened uncertainty
Federal Reserve officials regarded the U.S. economy’s outlook as particularly uncertain last month, according to minutes released Wednesday, and said they would “proceed carefully.”
Wholesale inflation rises 2.2% in biggest year-over-year gain since April
The numbers, driven by an uptick in the price of goods, came in higher last month than economists had expected.
Detroit automakers, union leaders spar over 4,800 layoffs at non-striking factories
The UAW contends that the layoffs are unjustified and were imposed as part of the companies’ pressure campaign to persuade union members to accept less favorable terms in negotiations with automakers.
Republicans nominate Steve Scalise to be House speaker
Scalise, as the second-ranking Republican, is seen as a hero among colleagues for having survived severe injuries from a mass shooting during a congressional baseball practice in 2017. He is now battling blood cancer.
NCAA President Charlie Baker to testify during Senate hearing on college sports
Baker, who took over as president of the Indianapolis-based NCAA in March, has been spending a lot of time in Washington, D.C., lobbying lawmakers to help college sports with a federal law to regulate how athletes can be compensated for their fame.
Biden’s second try at student loan cancellation moves forward with debate over plan’s details
The latest attempt will rest on a sweeping law known as the Higher Education Act, which gives the education secretary authority to waive student loans, although how far that power extends is the subject of legal debate.
Utah latest state to sue TikTok, alleging it baits children into addictive habits
Indiana and Arkansas have filed similar lawsuits, while the U.S. Supreme Court prepares to decide whether state attempts to regulate social media platforms such as Facebook, X and TikTok violate the Constitution.
Future of electric vehicles looms over negotiations in autoworkers strike
With the UAW strike now in its fourth week, EVs and their potential impact on job security have become central to union negotiations with the automakers.
Joby Aviation founder predicts electric air taxis will be in service by 2025
The notion that hundreds or even thousands of electric-powered air taxis could be whisking people over jammed roads is inching away from science fiction and closer to reality.
Nobel economics prize goes to professor for research on workplace gender gap
Claudia Goldin is just the third woman to win the prize out of 93 economics laureates.
Pharmacist shortages, heavy workloads challenge drugstores heading into busy season
In recent years, drugstores have struggled to fill open pharmacist and pharmacy technician positions, even as many have raised pay and dangled signing bonuses.
UPDATE: Jonathan Taylor, Colts agree on 3-year, $42M extension
With an agreement in place, Taylor was able to play Sunday in the Colts’ 23-16 home victory over the Titans.
Expanding Big Ten weighs rivalries, TV ratings, travel to make football schedule
The Big Ten calls its scheduling model Flex Protect XVIII, which locks in important annual rivalry games like Indiana-Purdue but doesn’t require every team to have the same number of protected games.
Indiana lands $3.6M in national settlement of Blackbaud data breach case
Fundraising software company Blackbaud agreed Thursday to pay $49.5 million to settle claims brought by the attorneys general of 49 states and Washington, D.C., related to a 2020 data breach that exposed sensitive information from 13,000 not-for-profits.
Regulators seek to compel Elon Musk to testify in Twitter acquisition probe
The SEC said in a filing that Musk failed to appear for testimony on Sept. 15 despite an investigative subpoena served by the SEC and having raised no objections at the time it was served.
Grosjean taking Andretti to arbitration after being dropped from team
Former Formula One driver Romain Grosjean said Wednesday he is pursuing arbitration against Andretti Global because the team is not bringing him back for a third season in the IndyCar Series.
Striking UAW workers, Detroit automakers reportedly make progress in talks
The report of progress raises the possibility that the union might decide not to expand its walkouts at one or more of the companies.