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Daily News

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

Pittsburgh Business Times

Laurel Communities pursuing townhouse project near brewery site in Polish Hill

Tue, Nov 19, 2019

Laurel Communities seeks to bring a major addition of new townhouses to small hillside community wedged between the Strip District, Lawrenceville, Oakland and the Hill District ...

Citizens to soon shutter this Pittsburgh area branch

Tue, Nov 19, 2019

Citizens Bank plans to close its Canonsburg branch early next year, according to a regulatory filing. It is among six that the Providence, Rhode Island-based financial institution expects to shutter near-term across its footprint, but the only one in the 10-county Pittsburgh metro. The Canonsburg branch, located at 1 East Pike Street, will close on Feb. 19, confirmed Rory Sheehan, Citizens (...

How AGH, CCAC are tackling a small part of the big nursing shortage

Tue, Nov 19, 2019

Also part of the funding through Highmark will be a retention coordinator, employed by CCAC, who will help the students in the pilot program. ...

Greene County mine back in operation

Tue, Nov 19, 2019

The Cumberland Mine in Greene County is back in full operation after a partial idling Friday. The coal mine, one of the largest in Pennsylvania, resumed normal operations late Monday after some longwall support functions were halted due to a temporary geological problem. The production was slightly curtailed Friday at the longwall but coal continued to be shipped from the plant. Cumberland, w...

Highmark plans partnership for hemophilia medications

Tue, Nov 19, 2019

Highmark in January will start a new partnership with three companies to receive exclusive medications to treat hemophilia, a rare blood clotting disorder, among its members. The Pittsburgh-based insurer has about 190 members who have hemophilia, a genetic condition that leaves patients unable to form blood clots and can cause life-threatening bleeding as well as organ and tissue damage. The I...

Study says Chicago-Pittsburgh hyperloop would be boon to region

Tue, Nov 19, 2019

Hyperloop Transportation Technologies announced Monday that it had finished conducting a study of the impact a Pittsburgh to Chicago hyperloop would have on the area, saying that it "is both feasible and of great economic benefit regionally." HyperloopTT said the study was the most comprehensive ever done on a hyperloop, being conducted over a year and a half, and done in conjunction with the ...

Penguins' Rutherford inducted into Hockey Hall of Fame

Tue, Nov 19, 2019

Pittsburgh Penguins' general manager Jim Rutherford is now a member of the Hockey Hall of Fame. On Monday, Rutherford, along with Guy Carbonneau, Sergei Zubov, Hayley Wickenheiser, Vaclav Nedomansky and Jerry York, was officially inducted in Toronto. Rutherford, who joined the Penguins in 2014, helped the Penguins win back-to-back Stanley Cups in 2016 and 2017, the first team to win consecuti...

Point Park to offer grad degree in information systems, business analytics

Tue, Nov 19, 2019

Point Park University announced Monday that it would begin offering a Master of Science in information systems and business analytics graduate program. The degree will be offered starting in Fall 2020 and will offer several STEM-focused courses including Statistics & Quantitative Methods, Applied Data Mining, and Development of Support Networks. The university said the new graduate degree will...

FedEx to increase 401(k) employee match in 2021

Tue, Nov 19, 2019

In a competitive labor market, FedEx plans to increase its 401(k) match for employees as a way to attract and retain talent. Patrick Fitzgerald, senior vice president of integrated marketing and communications for FedEx, detailed the plans to the Memphis Business Journal during a phone interview Monday, Nov. 18. Effective Jan. 1, 2021, FedEx Corp. will implement a new 401(k) plan for its U....

Young Entrepreneur: CMU grad is making robots more efficient and less expensive

Tue, Nov 19, 2019

ESTAT Actuation aims to make commercial robotics cheaper and more efficient. ...

US Tax News

Tax-News.com: New Zealand Tops World Bank's 'Doing Business' 2020

Fri, Nov 08, 2019

New Zealand is the easiest place in the world to do business, according to the World Bank's new Doing Business 2020 report, which looks at the simplicity of setting up, operating, and paying taxes in 190 territories around the world....

Tax-News.com: Warren Announces US Corporate Tax And Wealth Tax Plans

Fri, Nov 08, 2019

On November 1, 2019, the presidential campaign of United States Senator Elizabeth Warren (D-MA) published plans for a system of universal Medicare that will be partially funded by tax increases on large corporations and wealthy individuals, as well as by stricter anti-tax avoidance rules. ...

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. ...