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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Pittsburgh Business Times

State tells owners of big buildings to disinfect, clean more

Sun, Apr 05, 2020

Pennsylvania officials expanded the level of cleaning and disinfectant regulations for buildings that have 50,000 square feet or more to help prevent the spread of COVID-19. The new regulations, signed by Pennsylvania Health Secretary Dr. Rachel Levine on Sunday, cover those buildings and businesses that are allowed to continue operating under Gov. Tom Wolf's order to have only "life-sustainin...

State health official: 'There is no evidence that the virus is slowing down'

Sat, Apr 04, 2020

Health Secretary Dr. Rachel Levine said Pennsylvania's health system continues to be able to manage the ever-increasing number of COVID-19 patients, but said Saturday that whether that will continue to be the case in the next weeks and months will depend on residents' individual physical distancing as well as the preparations state and local health officials make. There are now 10,017 known ca...

Port Authority eligible for up to $141 million in reimbursements

Sat, Apr 04, 2020

According to U.S. Department of Transportation figures released Friday, the Port Authority of Allegheny County will be eligible for up to $141.75 million in federal reimbursements for expenses related to COVID-19, according to a release from the Port Authority. “For many of our neighbors in Allegheny County, public transit is their only way to get groceries, medicine and other essential goods,...

GNC to furlough staff across all levels

Sat, Apr 04, 2020

GNC Holdings Inc. announced late Friday that it would be temporarily furloughing "a significant portion" of its staff throughout all levels of management within the organization. The company cited the continued financial strains it is facing from the COVID-19 pandemic. GNC said it was implementing a hiring freeze and eliminating corporate merit increases, among other cost saving plans, accordi...

Allegheny Health Network guarantees pay for employees

Sat, Apr 04, 2020

Allegheny Health Network is committing to continuing to pay its employees even as the system and its employees go through the drastic changes that have occurred due to COVID-19. AHN said it would continue to pay employees whose hours are reduced, if they have different assignments due to the crisis or work from home. It will also pay employees who are quarantined, in self-isolation, have sympt...

Cumberland Mine to return to operations as owner Contura Energy idles other facilities

Fri, Apr 03, 2020

Contura Energy Inc., a major coal producer and the owner of the Cumberland Mine in Greene County, announced late Friday it was temporarily idling a majority of its operations due to declines in the industry as well as the economic impact of COVID-19. But the Cumberland Mine will not be impacted by that decision. Contura (NYSE: CTRA) did not immediately announce the locations of the mines being...

Morgantown company publishes designs for ventilator splitters, face shields

Fri, Apr 03, 2020

Morgantown, West Virginia-based Intermed, in collaboration with M&S Consulting, has created and published open-source designs for face shields and ventilator splitters.   Ashok Aggarwal, founder of M&S Consulting, said the designs address concerns in the medical industry that some ventilator splitters — or devices that allow one ventilator to service two patients — don’t work well for patients...

Heinz History Center to furlough workers

Fri, Apr 03, 2020

The Heinz History Center announced Friday that it would be partially or fully furloughing half of its 130-person workforce in an effort to cut costs during the mandated state closure of all non-essential businesses. Those that remain employed by the center will see pay adjustments and possible position reassignment to security and preservation roles. “This has been a trying time for our city, ...

Emclaire's annual meeting to be held remotely

Fri, Apr 03, 2020

Emclaire Financial Corp (NASDAQ:EMCF), the parent holding company of The Farmers National Bank of Emlenton, on Friday said its 2020 annual meeting for shareholders will be virtual due to COVID-19 concerns. Emclaire (NASDAQ:EMCF) said the meeting is scheduled for 9 a.m. on April 22. Shareholders will be able to access the meeting via the bank’s website or via telephone conference call. Several ...

Wolf advises all Pennsylvanians to wear masks if they absolutely have to leave home

Fri, Apr 03, 2020

Gov. Tom Wolf on Friday afternoon advised Pennsylvanians to wear a cloth or homemade masks if they are going outside to reduce the spread of COVID-19 in the commonwealth. "Today, I'm asking all Pennsylvanians to wear a mask when they go out," Wolf during a news conference Friday afternoon. Wolf's request comes as federal and health officials discuss at the highest levels whether ordinary peop...

US Tax News

Tax-News.com: US Senate Passes 'Phase Three' COVID-19 Aid Package

Mon, Mar 30, 2020

On March 25, 2020, the United States Senate overwhelmingly approved the Coronavirus Aid, Relief, and Economic Security Act, which represents the third package of financial aid measures to businesses and individuals affected by the coronavirus crisis and which includes numerous tax provisions to support businesses. ...

Tax-News.com: Trump Discusses Payroll Tax Cut With Congress

Tue, Mar 17, 2020

On March 9, 2020, United States President Donald Trump revealed that the Administration would begin discussions with Congress on potential tax measures to ease the impact of the coronavirus outbreak, including a payroll tax cut. ...

Tax-News.com: EU Finance Ministers Issue Joint Statement On Digital Taxation

Tue, Mar 03, 2020

The finance ministers of France, Germany, Italy, and Spain have put their names to a statement calling for countries to reach an agreement on solving the tax challenges of the digital economy by the end of 2020. ...

Tax-News.com: J5 Reviews Work To Tackle Cross-Border Tax Crimes

Tue, Mar 03, 2020

On February 19, 2020, the United States Internal Revenue Service announced that the leaders of the Joint Chiefs of Global Tax Enforcement recently gathered in Sydney, Australia, to review their work and to set priorities for the years ahead. ...

Tax-News.com: EU Adds Cayman Isles, Panama, Seychelles To Tax Blacklist

Thu, Feb 20, 2020

The EU has added the Cayman Islands, Palau, Panama, and the Seychelles to its list of non-cooperative tax jurisdictions, bringing the total tally to 12 from 8. ...

Tax-News.com: OECD Provides Update To G20 On BEPS Work

Thu, Feb 20, 2020

In a new report for G20 ministers, the OECD has provided an update on its work to tackle tax base erosion and profit shifting relating to multinational businesses. ...

Tax-News.com: Democrat Bill Targets GILTI High-Tax Exclusion

Thu, Feb 20, 2020

Democrats in the United States Senate have introduced a bill that would block proposals to introduce a "high-tax exemption" to the Global Intangible Low-Tax Income regime. ...

Tax-News.com: France Confirms Postponement Of DST Payments

Thu, Feb 20, 2020

France's Directorate General of Public Finance confirmed in a statement issued on February 10, 2020, that companies liable for the country's digital services tax can delay payment of upcoming installments of the tax until December 2020. ...

Tax-News.com: France Confirms Digital Tax Delay

Mon, Jan 27, 2020

On January 22, 2020, French Finance Minister Bruno Le Maire confirmed that France will suspend collection of its digital services tax this year to prevent the United States from applying retaliatory tariffs on a range of French goods. ...

Tax-News.com: UK Steadfast On Digital Services Tax Plans

Mon, Jan 27, 2020

The UK Chancellor, Sajid Javid, has said the UK intends to push ahead with the introduction of a digital services tax from April 2020, despite warnings from the US that it would consider tariffs on UK-made goods. ...