News

REVEALED: The U.S billionaires avoiding their taxes

Published

5 years ago

June 9, 2021

From Jeff Bezos, Elon Musk and Warren Buffett, new details have emerged about how little tax US billionaires actually pay.

News website ProPublica has reportedly viewed the tax returns of America’s wealthiest individuals… with the White House saying the leak is “illegal” and the FBI is now investigating.

The website makes allegations that Bezos paid no tax in 2007 and 2011, whilst Musk paid nothing in 2018.

A White House spokeswoman called the leak “illegal”, and the FBI and tax authorities are investigating.

It’s also believed that the top 25 richest Americans each pay less tax than the average US worker.

ProRepublica says it will continue to analyse a “vast trove of Internal Revenue Service data” on the taxes of the billionaires, and promises to release further details later in the week.

The news site goes onto add “using perfectly legal tax strategies, many of the uber-rich are able to shrink their federal tax bills to nothing or close to it.”

Biden’s plan to raise tax for tech giants

President Joe Biden has vowed to increase tax on the richest Americans.

He wants to raise the top rate of tax, double the tax on what high earners make from investments, and change inheritance tax.

25 richest Americans collectively jumped by $401bn from 2014 to 2018, but they paid $13.6bn in income tax over those years, according to ProPublica.

"Netflix was supposedly generating $1B in revenue in Aus last year, and they paid just over $550,000 in tax"

Justin Joffe from @flux_finance on the #G7 global tax rate increase for tech giants

Do you want to see an increase in their tax?

#tickerNEWS | https://t.co/0W0Nv1lOKc pic.twitter.com/gsZlSt7OMx
— ticker NEWS (@tickerNEWSco) June 9, 2021

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William Howard

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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News

Oil prices surge as U.S.-Iran tensions escalate

Published

13 hours ago

February 5, 2026

Harvey Vargas

Crude oil prices jumped over 3% on Wednesday as U.S.-Iran nuclear talks showed signs of faltering, pushing WTI futures above $65 per barrel. Axios reported disagreements over the venue and scope of Friday’s talks, while President Trump warned Iran’s supreme leader to “be very worried,” stoking fears of military escalation.

Tensions in the Persian Gulf added to the volatility. A U.S. F-35C shot down an Iranian drone near the USS Abraham Lincoln, and Iranian vessels threatened a U.S.-flagged tanker in the Strait of Hormuz. The USS McFaul escorted the tanker to safety, highlighting the region’s fragile oil supply routes.

Despite the clashes, nuclear talks will go ahead on Friday in Oman, but uncertainty continues to drive oil market volatility, with traders closely watching both diplomatic and military developments.

#OilPrices #IranUS #NuclearTalks #PersianGulf #WTI #EnergyMarket #Geopolitics #OilSupply

News

Washington Post layoffs: Hundreds of journalists cut as Bezos faces criticism

Published

14 hours ago

February 5, 2026

Harvey Vargas

The Washington Post has laid off hundreds of employees, marking what former executive editor Martin Baron calls “one of the darkest days” in the paper’s history. Approximately one-third of the newsroom staff were affected, as the company undertakes a so-called “strategic reset” to compete in a crowded media landscape.

The cuts hit key areas, including the sports desk, local coverage, international reporting, the books desk, and the flagship daily news podcast. Editor-in-Chief Matt Murray said the changes aim to prioritise national security, politics, science, health, technology, climate, and business coverage while positioning the Post for the future.

Critics have called out owner Jeff Bezos for his silence during the layoffs and alleged efforts to influence the paper’s political stance. Former editor Baron warned that the newspaper’s ambitions would be sharply diminished and its credibility could suffer.

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News

Amazon launches AI tools to change film and television production

Amazon MGM Studios tests AI to streamline production, reduce costs, enhancing but not replacing human creativity, says AI Studio team.

Published

19 hours ago

February 5, 2026

Harvey Vargas

Amazon MGM Studios tests AI to streamline production, reduce costs, enhancing but not replacing human creativity, says AI Studio team.

Amazon MGM Studios is stepping into the future of entertainment by developing artificial intelligence tools designed to reduce production costs and streamline filmmaking processes. This closed beta, launching in March, will let industry partners test how AI can enhance creativity and efficiency on set.

Amy Cheng, leading the AI Studio team, emphasises that while AI can accelerate workflows, it will never replace the unique contributions of human creativity. The initiative represents Amazon’s push to innovate in content creation while maintaining the art of storytelling.

The use of AI in Hollywood is expanding rapidly, sparking discussions about its impact on jobs and the future of the industry. As studios explore automation, the balance between efficiency and human artistry remains a central concern.

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