Indiana became the latest state Tuesday to confirm that it will tax student loan forgiveness, AP reports.
Why it matters: As the Biden administration sets out to implement its sweeping student loan forgiveness plan, some states have indicated that residents could face a state tax on the balances forgiven. Mississippi and North Carolina previously confirmed that forgiven student loans are considered taxable income.
The Jif peanut butter factory responsible for a salmonella outbreak in May had a pattern of salmonella incidents in recent years, according to inspection documents obtained by Axios.
Why it matters: The J.M. Smucker-owned plant in Lexington, Kentucky, was shuttered for weeks in the spring after a nationwide outbreak triggered a costly recall of Jif peanut butter and other products.
A U.S. judge on Tuesday dismissed a defamation case between Netflix and Georgian chess master Nona Gaprindashvili over comments made about her in the streamer's mega-hit "The Queen's Gambit," Variety reports.
Why it matters: Netflix had argued that the First Amendment allowed "The Queen's Gambit" — a series centered around the fictional chess player Beth Harmon — "broad artistic license" to discuss real-world people. But a judge said fictional works are not exempt from defamation cases, per Variety.
E-cigarette manufacturer Juul Labs agreed to pay $438.5 million to 33 states and Puerto Rico to settle a two-year probe into the company's marketing and sales practices, the attorneys general of Connecticut and Texas announced Tuesday.
Why it matters: The investigation, led by Connecticut, Oregon and Texas, revealed that Juul willfully engaged "in an advertising campaign that appealed to youth, even though its e-cigarettes are both illegal for them to purchase and unhealthy for youth to use," Texas Attorney General Ken Paxton said.
A floatplane bound for the Seattle area carrying nine adults and one child crashed in Mutiny Bay, west of Whidbey Island, in Washington state Sunday, the U.S. Coast Guard said.
The latest: On Tuesday, the Coast Guard released the names of the 10 people who were on the plane, after announcing the discovery of one body and suspending the search for the others.
In another well-known deal dispute not involving Twitter and Elon Musk, the Delaware Chancery Court ordered chemical maker Huntsman and Apollo Global to complete their deal.
Why it matters:Unlike Tyson and IBP, the two sides here actually went on to settle for a payout following the trial, instead of combining the two businesses.
We're a long way from finding out what will happen to Twitter after it has its day (or week) in court with Elon Musk, which he's still trying to delay. But one potential outcome involves the Tesla CEO being forced to acquire the social media company, even if he doesn't want it anymore.
The big picture: "Specific performance" is a legal concept that's not a historically common outcome in U.S. courts (except in certain areas like land purchases), but the Delaware Chancery Court has gone that route in a number of merger and acquisition (M&A) cases.
The Transportation Security Administration screened more travelers last weekend than during Labor Day in 2019, making it the first holiday that exceeded travel compared with the same period before the pandemic.
Why it matters: The busy Labor Day weekend caps off a summer of "revenge travel," with Americans hitting the road and booking flights to make up for pandemic-related trip cancellations.
UBS no longer will pay $1.4 billion in cash to buy Palo Alto, Calif.-based robo-adviser Wealthfront. The mutual termination comes eight months after the merger was announced, with UBS now to invest $69.7 million via a convertible note deal at around the same valuation.
Why it matters: This is a big setback for the Swiss lender's efforts to broaden its client base, particularly in the U.S.
Truth Social, the Twitter clone launched by former President Trump, may need to find a new path to the public markets.
Driving the news: Reuters reports that blank check company Digital World Acquisition Corp. didn't secure enough shareholder approval to extend the merger closure deadline with Truth Social by one year, with the current deadline set to expire this Thursday.
Yahoo has acquired The Factual, a company that uses algorithms to rate the credibility of news sources, Yahoo president and general manager Matt Sanchez told Axios.
Why it matters: The deal could provide Yahoo News' 200 million+ monthly visitors with ratings for the thousands of news sources Yahoo aggregates on its site.
CVS Health has agreed to acquire Dallas value-based care enabler Signify Health for approximately $8 billion.
Why it matters: After losing out on One Medical to Amazon and watching Walgreens make bets on VillageMD and CareCentrix, CVS has finally gained a major foothold in health care delivery.
The inflation, energy and security shocks walloping the world economy are driving a kind of government intervention in markets last seen in the 1970s.
Why it matters: Price controls were largely abandoned after the '70s, as both American and global policy shifted toward less government involvement in the economy.
A Russian court sentenced former investigative journalist Ivan Safronov to 22 years in prison on Monday after convicting him of treason charges.
Why it matters: Rights groups and independent news outlets denounced Safronov's sentencing over "baseless" claims that he passed military secrets to Czech spies and expressed concern over an "intensifying crackdown on dissent in Russia," per Radio Free Europe.
