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Biden Policies Attract Over $1 Trillion in U.S. Investments
The White House reports that President Joe Biden’s administration has spurred more than $1 trillion in economic investments across sectors like semiconductors and clean energy, driven by initiatives such as the Bipartisan Infrastructure Law, CHIPS and Science Act, and the Inflation Reduction Act. These policies aim to revitalize infrastructure, promote a clean energy economy, and…
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US consumers to bargain hunt on Black Friday
US consumers are “ready to open their wallets this holiday season,” the Conference Board has said ahead of Black Friday on November 29th. A survey by Morgan Stanley found that 35% planned to spend more this holiday season – but nearly two-thirds of shoppers said they would pass on a purchase if an item is…
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Credit card giants face swipe fee backlash
Visa and Mastercard are facing scrutiny over their swipe fees, which critics argue inflate costs for businesses and consumers. During a Senate Judiciary Committee hearing this week, lawmakers discussed the Credit Card Competition Act, aimed at providing retailers with alternative payment network options. Sen. Roger Marshall (R-KS) stated: “When those go up, consumers ultimately pay…
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FASB proposes new grant accounting rules
The FASB has proposed a new accounting standards update to provide guidance on how business entities should account for government grants. Currently, U.S. GAAP lacks specific rules, leading many businesses to rely on IAS 20 by analogy. The proposed update aims to reduce variability in accounting practices by incorporating IAS 20 with targeted improvements. Jackson…
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Super Micro Computer names BDO as auditor, files Nasdaq compliance plan
Super Micro Computer has named BDO USA as its auditor, and has also submitted a plan to Nasdaq requesting additional time to regain compliance with the listing rules. The move came a day after Hindenburg Research disclosed a short position and alleged “accounting manipulation”. In the compliance plan, the AI server maker said it will…
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Coinbase CLO urges Trump to oust SEC chair
Paul Grewal, chief legal officer at Coinbase, has called for Donald Trump to sack Gary Gensler, chairman of the Securities and Exchange Commission (SEC). He argues that Mr Gensler “has led a regulation-by-enforcement campaign against the industry that has been destructive of investor protections and destructive of innovation in ways that we think need to…
