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Daily News

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

Pittsburgh Business Times

Carnegie Library to expand presence in Downtown

Thu, Dec 12, 2019

The Carnegie Library of Pittsburgh is seeking to expand its presence in downtown, adding 8,000 square feet of space to its branch in the neighborhood. The expansion in the Smithfield Building is part of a new lease deal with McKnight Realty Partners earlier this year, the Pittsburgh Post-Gazette reported. The plan is to offer more services to visitors within the expanded space. The library de...

LifeX inches closer to a permanent CEO

Thu, Dec 12, 2019

Evan Facher, director of the Pitt Innovation Institute, has been serving as interim CEO for almost a year. ...

State System of Higher Education approves contracts with faculty, professionals

Thu, Dec 12, 2019

The Pennsylvania State System of Higher Education announced Wednesday that its Board of Governors had unanimously approved two new collective bargaining agreements with unions representing the faculty and campus professionals at 14 state-owned colleges. Members of both the Association of Pennsylvania State College & University Faculties and the State College and University Professional Associ...

Everest Infrastructure Partners announces acquisition of Texas wireless tower

Thu, Dec 12, 2019

Pittsburgh-based Everest Infrastructure Partners LLC has acquired 10 wireless towers north and east of Houston, Texas. Financials were not disclosed, nor was the previous owner. Everest announced the transaction Wednesday on its website. “We are very pleased to have the opportunity to acquire and manage these tower assets,” Everest President Mike Mackey said in a prepared statement. “These to...

Fighting for height: Limits hamper real estate development

Thu, Dec 12, 2019

As restrictions on height tighten, it's becoming more difficult for developers to build upward. ...

Around Town N'at: United Way, Reed Smith, Even Hotel and Roll for a Reason

Thu, Dec 12, 2019

This week Around Town N'at features photos of people at United Way's Pull on the Pride event, Reed Smith's team at the Greater Pittsburgh Food Bank, Clear Thoughts Foundation's Roll for a Reason Gala and Even Hotel's groundbreaking. To see who attended the events, click on the photo. If you want your event photos featured in the Pittsburgh Business Times' Around Town N'at online and print fe...

One of region's largest banks commits to putting headquarters at former Civic Arena site

Thu, Dec 12, 2019

Buccini/Pollin and Pittsburgh Penguins to build $200 million office tower. ...

Why Chevron's heading for the exit in Appalachia

Wed, Dec 11, 2019

CEO told the assets "simply don't compete as well for our investment dollar as others do." ...

Sheetz expanding to new market

Wed, Dec 11, 2019

A local mainstay convenience store chain is finally making its way to Columbus, Ohio. Altoona, Pennsylvania-based Sheetz Inc. announced on Facebook that it plans to bring its brand to Central Ohio in 2021. It has 40 shops in the state, but those are predominately located in Northeast Ohio. The closest Sheetz to Columbus is a single store in Zanesville. The company declined to comment on wher...

Here's where BNY Mellon's interim CEO is focusing

Wed, Dec 11, 2019

Look for investments in automation but not for transformative acquisitions. ...

US Tax News IRS Issues Final Foreign Tax Credit Regulations

Fri, Dec 06, 2019

On December 2, 2019, the United States Internal Revenue Service issued final regulations on the foreign tax credit following major changes to the US tax code. ... US Considers Retaliation Against French Digital Services Tax

Fri, Dec 06, 2019

The United States may impose additional duties of up to 100 percent on certain French products in retaliation for France's digital services tax, which a newly published report by the US Trade Representative has concluded discriminates against certain US companies. ... IRS Issues Estate Tax Regulations

Mon, Dec 02, 2019

On November 22, 2019, the United States Internal Revenue Service issued final regulations confirming that individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not be adversely impacted after 2025 when the exclusion amount is scheduled to drop to pre-2018 levels. ... Costa Rica Ratifies Updated TIEA With US

Mon, Nov 25, 2019

On November 12, 2019, a law was published in the official gazette of Costa Rica which ratifies the updated Tax Information Exchange Agreement with the United States. ... American Firms Concerned By Canadian Digital Tax Plan

Mon, Nov 25, 2019

Representatives from US trade and industry associations have voiced concern about a digital services tax proposal floated during the recent Canadian election which they argue will "impose discriminatory requirements on the digital economy."... 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.... 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. ... 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. ... 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.... 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. ...