Spirit CFO says post-pandemic airline sector is ‘unrecognizable’; Audit committees expand oversight to ESG, cybersecurity, AI: EY; How Trump 2.0 could revamp tax policy; Retail sales rise in hint of cheer for holiday consumer spending
President-elect Trump will likely ax the EV tax credit, a proviso of the Inflation Reduction Act, upon taking office in January. Critics say the move will badly impact EV competition.
Budget carriers like bankrupt Spirit Airlines have been “disproportionately” affected by industry headwinds as they rely on “much slimmer margins,” CFO Fred Cromer writes.
Nearly four out of five investors said boards should demonstrate expertise in climate, cybersecurity and other risks by detailing their work to limit such hazards, EY said.
Businesses need to prepare for potentially “fast moving” changes to tax policy as questions swirl around President-elect Trump’s plans, EY’s Martin Fiore said.
Recent signs of robust consumer spending and persistent inflation prompted Wall Street to reduce the odds that the Fed will cut the main interest rate by a quarter point at its December meeting.
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