Former President Donald Trump is reportedly facing at least one felony charge; Jimmy Buffett has entered the three comma club; Russian and Belarusian tennis players can compete at Wimbledon this year; and more.
Good morning,
Welcome to April. Perhaps most hopeful for a fresh start in the new month is the U.S. banking sector, which lost hundreds of billions in market value in March as several institutions failed and others faltered.
A potential good sign: some experts say the most painful days for the bleeding sector have already come and gone.BREAKING NEWS
Former President Donald Trump is reportedly facing at least one felony charge as part of his indictment in Manhattan over an alleged hush money payment to porn star Stormy Daniels. Trump is set to be arraigned Tuesday, and legal experts are questioning whether the court could impose a gag order that would cut him off from publicly discussing the case.
Funds for Social Security and the Medicare trust fund that pays for hospital expenses are expected to be depleted by 2033 and 2031, respectively, spelling trouble for the two major financial safety nets for older Americans.BUSINESS + FINANCE
Starting this month, drivers will face tightened U.S. Treasury Department rules regarding eligibility for an income tax credit of up to $7,500 for buying a new electric vehicle. With few of the 91 EVs currently qualifying for the credit eligible starting on April 18, «Which EVs—make and model—now qualify for the tax credit…and which don’t?» wonders one industry trade group insider.
Britain’s biggest microchip factory, Newport Wafer Fab, could face a potential shutdown, new corporate filings show, due to a U.K. government order forcing the sale of the South Wales-based semiconductor plant over national security concerns about its Chinese parent company.WEALTH + ENTREPRENEURSHIP
As taxpayers and politicians argue about the impact of additional IRS funding, the Supreme Court is looking at the rules for collecting financial and other information without notice to taxpayers. It will ultimately decide how aggressive the IRS can be when hunting for a delinquent taxpayer’s assets.TECH + INNOVATION
The U.S. government has sold nearly 20% of the 50,000 bitcoin it seized in the case of a hack of the Silk Road marketplace, netting more than $215 million in the process, according to a memo filed in the Southern District of New York. The sale didn’t appear to impact bitcoin’s price, which gained 2.43% on the day of the transaction.
AT&T’s Bell Labs was the center of innovation in its heyday, akin to Silicon Valley today. With AI chatbots in the news, Forbes Senior Editor Amy Feldman wondered what happened to a now-vanished early version she used at the famed research institution’s New Jersey offices.
