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Daily News

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

Pittsburgh Business Times

Report: Roethlisberger not going forward with North Shore restaurant

Sat, Aug 17, 2019

Roethlisberger's decision to drop North Shore restaurant comes after five years of scouting the market. ...

Judge: Century III Mall ownership can hold off on paying back taxes for now

Fri, Aug 16, 2019

Century III wards off legal challenge by West Mifflin for unpaid taxes as it works to push its redevelopment plan through bankruptcy court. ...

F.N.B. moving fast on Washington, D.C., retail rollout — here's where the first branch will be

Fri, Aug 16, 2019

Pittsburgh bank picks a prime location for first branch in nation's capital, according to regulatory filing. ...

Pennsylvania's unemployment rate ticks up for the first time in 3 years

Fri, Aug 16, 2019

The unemployment rate in Pennsylvania ticked up to 3.9 percent in July, the first increase in more than three years. The state's unemployment rate has gone down or stayed steady in every month going back to June 2016. The 3.8 percent unemployment rate the state held from April through June was the lowest recorded since Pennsylvania began tracking the statistic in 1976. Pennsylvania's unemploy...

Program aims to strengthen IT leadership among Pittsburgh companies

Fri, Aug 16, 2019

The Pittsburgh IT Leadership Development Program is set to start its second cohort, will full registration, in September. ...

PNC's mobile bank heading to Oakland for Pitt and CMU students

Fri, Aug 16, 2019

You can bank on college students returning to campus in late August, and Pittsburgh’s biggest financial institution is putting its own spin on it. PNC Financial Services Group Inc. is deploying its mobile banking unit to Schenley Plaza in Oakland Monday through Wednesday to accommodate incoming freshmen moving into dorms at the University of Pittsburgh and Carnegie Mellon University. The mobi...

How $2 gas is baked into the plan to turn around EQT

Fri, Aug 16, 2019

Falling commodity prices are shaking the production plans of many natural gas companies in the Appalachian basin, but EQT Corp. CEO Toby Rice said it's being taken into account as the new leadership team works to turn around the Pittsburgh-based driller's fortunes. ...

Selfies: Winners of the 2019 30 under 30 awards

Fri, Aug 16, 2019

One winner is on the top of the tallest mountain in Vietnam. Others are shopping for chocolate in Medellín, Colombia, walking across a bridge in New Zealand, hiking in Alaska. And closer to home, they're attending Pickelfest, Pirates games and celebrating Halloween. We asked winners of the 2019 30 under 30 awards to send us their selfies. These photos show an energetic group of young leaders e...

Innovatus Imaging names new CEO

Fri, Aug 16, 2019

Pittsburgh-based Innovatus Imaging has named Dave Johnson as CEO, according to a news release.  Johnson takes on the role from founder Dennis Wulf, who will transition to chairman of the board.  Johnson will lead the medical device company further into its recent expansion into the probe and MRI coil repair volume as well as other markets. He has served on the company’s board of directors sin...

EQT among world's fastest-growing natural gas producers

Fri, Aug 16, 2019

EQT's production growth was 340 percent over the past five years, aided by the Rice Energy acquisition. ...

US Tax News

Tax-News.com: LLB-Switzerland Signs US Non-Prosecution Agreement

Thu, Aug 08, 2019

On August 5, 2019, the US Department of Justice announced that Swiss bank LLB Verwaltung (Switzerland) AG has agreed to pay a penalty of USD10.6m to resolve a case in which it was accused of helping US clients to conceal income....

Tax-News.com: IRS Responds To Altera Ruling On Cost Sharing Arrangements

Thu, Aug 08, 2019

On July 31, 2019, the United States Internal Revenue Service issued a memorandum for all Large Business and International Division employees informing them of the withdrawal of a directive regarding cost sharing arrangements in the light of the recent Court of Appeals ruling in the Altera case....

Tax-News.com: US Senators Urge 'Fairness' Change To Capital Gains Tax Calculations

Thu, Aug 08, 2019

A group of 21 Republican members of the US Senate have signed a letter to the Treasury Secretary urging him to amend how capital gains tax liability is calculated....

Tax-News.com: Bulgaria Approves CbC Exchange Agreements With US

Thu, Aug 08, 2019

Bulgaria's Council of Ministers earlier this month approved two agreements with the United States allowing for the automatic exchange of country-by-country transfer pricing reports....

Tax-News.com: IRS Clarifies FTC Rules For French Social Taxes

Thu, Jul 25, 2019

On July 19, 2019, the United States Internal Revenue Service updated its webpage on foreign tax credits to clarify that it will not challenge foreign tax credit claims involving certain French taxes....

Tax-News.com: IRS's New Enforcement Initiatives Are Aimed At Individuals

Thu, Jul 25, 2019

On July 19, 2019, the United States Internal Revenue Service Large Business and International Division announced six additional compliance campaigns....

Tax-News.com: G7 Backs OECD In Push For Global Digital Tax Response

Thu, Jul 25, 2019

G7 finance ministers have said that there is an urgent need to address the tax challenges posed by the digitalization of the economy. ...

Tax-News.com: US Senate Approves Changes To Four Double Tax Pacts

Thu, Jul 25, 2019

The United States Senate has approved protocols to four existing bilateral double tax avoidance treaties that have been pending in the chamber for as much as a decade....

Tax-News.com: IRS Provides Additional Transition Tax Guidance

Thu, Jul 25, 2019

On July 16, 2019, the United States Internal Revenue Service announced the publication of additional information to help taxpayers meet their filing and payment requirements in respect of the Section 965 transition tax on untaxed foreign earnings....

Tax-News.com: US Senate To Vote On Tax Treaty Protocols

Tue, Jul 16, 2019

The United States Senate could soon approve ratification of four long-pending double tax avoidance treaty protocols....