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Daily News

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

Pittsburgh Business Times

Pittsburgh-based First National Bank preps for big move in downtown Raleigh

Wed, Oct 16, 2019

First National Bank is preparing for its big move later this year to a new space in downtown Raleigh. The Pennsylvania bank – which entered the market with its buyout of Raleigh-based Yadkin Financial – has notified federal regulators that it’s shutting down its 133 Fayetteville St. location. But it’s temporary – as the branch is being moved four blocks away to the ground floor of the new FNB ...

ANSYS forms new partnership with Turbotech

Wed, Oct 16, 2019

Turbotech is developing systems to power hybrid electric aircraft. ...

YWCA announced leadership change

Wed, Oct 16, 2019

Three months after coming aboard, Janine Woods is stepping down as the chief executive of the YWCA Greater Pittsburgh. The organization announced Wednesday that Woods was no longer with the organization and said that Melanie Gefert-Azur would serve as the interim CEO, effective immediately. In a statement, the YWCA did not provide a reason for Woods leaving the position, only thanking her for...

An unknown company is proposing to build an autonomous vehicle test track in Findlay Township

Wed, Oct 16, 2019

Pittsburgh's autonomous vehicle industry's quest for major test track and research facilities lands in Findlay Township as possible option ...

PNC CEO says expansion's starting to show up as loans jump in 3Q

Wed, Oct 16, 2019

'We've talked about a 3-year break-even per market and, if anything, we're running ahead of that.' ...

Pittsburgh manufacturers travel to Germany this week for K 2019

Wed, Oct 16, 2019

K 2019 is the world's largest plastics and rubber industries trade show. ...

Sources: WeWork deal at 600 Grant Street falls through

Wed, Oct 16, 2019

New York coworking unicorn has dropped deal for more than 100,000 square feet in downtown's biggest building, sources say, as it faces major business challenges. ...

BNY Mellon accelerating shift to automation

Wed, Oct 16, 2019

'When you think about what we do, it’s a massive undertaking with huge headcounts.' ...

AHN hiring hundreds to staff neighborhood hospitals

Wed, Oct 16, 2019

Allegheny Health Network and its joint venture partner Emerus are going full-throttle in staffing three soon-to-be-opened neighborhood hospitals in the Pittsburgh region. The neighborhood hospitals are full-service, 24/7 emergency rooms along with a small number of observation beds and then other primary and specialist care, depending on the location. The concept was pioneered by Emerus in oth...

Trump to travel to Pittsburgh next week

Wed, Oct 16, 2019

President Donald J. Trump will travel to Pittsburgh next week for a speech to the region's natural gas industry. Trump will be the keynote speaker Wednesday, Oct. 23, at Shale Insight, which is the annual conference of the Marcellus Shale Coalition, the Ohio Oil & Gas Association and the West Virginia Oil and Natural Gas Association. Trump will be the first president to address the gathering, ...

US Tax News

Tax-News.com: IRS Expands Virtual Currency Tax Guidance

Fri, Oct 11, 2019

On October 9, 2019, the United States Internal Revenue Service issued two new pieces of guidance for taxpayers who engage in transactions involving virtual currency. ...

Tax-News.com: IRS Grants Relief For US Persons Affected By Section 958 Repeal

Fri, Oct 04, 2019

On October 1, 2019, the United States Treasury Department and the Internal Revenue Service announced a relief for certain US persons that own stock in certain foreign corporations....

Tax-News.com: Sanders Unveils US Wealth Tax

Fri, Sep 27, 2019

United States Senator Bernie Sanders (D-VT), a leading contender for the Democratic presidential nomination, has proposed a new tax, as well as a series of enforcement measures, targeting America's wealthiest individuals. ...

Tax-News.com: More US States To Tax Remote Sales From October

Fri, Sep 27, 2019

Many US states will begin to impose sales and use tax obligations on remote sellers and marketplace facilitators from October 1, 2019, largely in response to the United States Supreme Court's landmark decision in the Wayfair case....

Tax-News.com: US-Switzerland Double Tax Protocol Now In Force

Fri, Sep 20, 2019

The Swiss Government on September 20, 2019, announced that it has exchanged instruments of ratification with the United States to bring into force a Protocol to their double tax agreement. ...

Tax-News.com: Apple's Irish Tax Ruling Appeal Gets Underway

Fri, Sep 20, 2019

The Irish Government is arguing that favorable tax treatment was not granted to Apple under two rulings deemed by the EU to have constituted illegal state aid to the company. ...

Tax-News.com: IRS Offers Settlement Scheme To Micro-Captives

Fri, Sep 20, 2019

On September 16, 2019, the United States Internal Revenue Service announced the mailing of a time-limited settlement offer for certain taxpayers under audit who participated in abusive micro-captive insurance transactions. ...

Tax-News.com: Poland Said To Have Ditched Plans For Digital Tax

Fri, Sep 13, 2019

According to a recent comment by United States Vice President Mike Pence, the Polish Government has decided not to proceed with a national digital services tax. ...

Tax-News.com: US And France Nearing Digital Tax Compromise

Fri, Aug 30, 2019

The Governments of France and the United States are reportedly close to settling a dispute surrounding France's digital services tax....

Tax-News.com: IRS To Provide GILTI Penalty Relief To Pass-Through Entities

Fri, Aug 30, 2019

On August 22, 2019, a notice was published which announces the intention of the United States Treasury Department and the Internal Revenue Service to issue new regulations providing relief to domestic partnerships and S corporations attempting to comply with final global intangible low-taxed income regulations with respect to shareholdings in controlled foreign corporations....