Daily Tax Report

Daily Tax Report is your go-to resource for updates on important tax-related news at the federal, state, and international levels. It covers a wide range of developments, including legislation, regulations, and court cases, as well as topics related to pensions and accounting.

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NCAA Wins Final Approval of $2.8 Billion Player-Pay Deal (2)

23 hours ago | news.bloombergtax.com | Rob Tricchinelli

The NCAA and its power conferences got final approval Friday of a nearly $2.8 billion antitrust deal allowing colleges to pay student-athletes directly for the first time, a milestone in yearslong litigation also designed to quell future suits over name, image, and likeness. Judge Claudia Wilken of the US District Court for the Northern District of California said the deal as a whole was adequate and that pro-competitiveness justifications outweighed any downsides.
Netflix Director Jay Hoag Fails to Win Reelection to Board (1)

1 day ago | news.bloombergtax.com | Rob Golum

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Oil Rig Count in US Plunges to Lowest in Almost Four Years

1 day ago | news.bloombergtax.com | Emma Sanchez |Emma Sánchez

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Fed Appoints Michael Horowitz as New Inspector General

1 day ago | news.bloombergtax.com | Reade Pickert

The US central bank appointed Michael E. Horowitz to head the Federal Reserve Board’s Office of Inspector General starting June 30. He will also serve in that role for the Consumer Financial Protection Bureau. “The OIG is tasked with making recommendations to improve the efficiency and effectiveness of the agencies, as well as preventing and detecting waste, fraud, and abuse,” according to a statement from the Fed Friday. He succeeds Mark Bialek, who retired in April.
Warburg Pincus-Backed Solar Mosaic Files for Bankruptcy (3)

1 day ago | news.bloombergtax.com | Mark Chediak

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Winklevoss Twins’ Gemini Makes Confidential SEC Filing for IPO

1 day ago | news.bloombergtax.com | Kirk Ogunrinde

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Stocks Will Rally Despite Extended Dollar Declines: MLIV Pulse

1 day ago | news.bloombergtax.com | Garfield Reynolds

US equities will put the worst of this year’s trade-war turmoil behind them and rally to fresh highs in 2025, according to a survey of Bloomberg subscribers who attended a panel discussion on macro trends. The S&P 500 will climb to 6,500 — a better than 9% increase from Thursday’s close — by year-end, according to 44% of the 27 responses in a Markets Live Pulse survey.
Boeing Set to Restart Jet Handovers to China Amid Trade Spat (2)

1 day ago | news.bloombergtax.com | Julie Johnsson |Danny Lee

Boeing Co. has begun shipping commercial jets to China for the first time since early April, indicating a reopening of trade flows amid the long-simmering tariff war between the US and Asia’s biggest economy. A Boeing 737 Max registered N230BE took off for Hawaii on Friday morning, according to Flightradar24 flight data. It is the first stop in a journey across the Pacific to the US planemaker’s center in Zhoushan, China where it typically finalizes delivery of that model for domestic customers.
China OKs Rare Earth Exports to US Carmakers, Reuters Says (2)

1 day ago | news.bloombergtax.com | Ryan Beene

China has approved temporary export licenses to rare-earth suppliers of the top US automakers, Reuters reported on Friday, citing unidentified people familiar with the matter. It’s unclear what materials are covered by the licenses and at least some are valid for six months, Reuters said. China’s restrictions on exports of rare earths, the dominant source of the materials, pose risks to global automakers’ supply chains.
What Trump’s FEMA Cuts Mean for Hurricane Season: QuickTake

1 day ago | news.bloombergtax.com | Lauren Rosenthal |Zahra Hirji

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