The first batch of more than 25,000 letters will go out to taxpayers with more than $1 million in income, followed by more than 100,000 letters to people with incomes between $400,000 and $1 million. The notice says to file your return immediately or to explain either why you are late or don’t have to file.
Vacation Trend
“Rest and relaxation” jumped ahead of having “a fun time” and spending “time with immediate family” as the main motivator for leisure travel.
Hilton AutoCamp
Hilton has collaborated with AutoCamp, the outdoor hospitality company, to offer "enhanced outdoor lodging experiences in unique destinations". The partnership will offer an experience that combines outdoor adventure with the hospitality of a boutique hotel.
Hotel Labor
Hotels will collectively pay $123 billion in compensation this year, up more than 20% from 2019.
DC Waldorf
Miami-based investor CGI Merchant Group defaulted on a $285 million loan related to the Washington Waldorf Astoria (previously the Trump International Hotel) it acquired for $375 million in 2022.
Rates Outlook
With the strong labor market and a hawkish Fed, traders recalibrated their bets around rate cuts with June becoming the highest probability for the first cut. Meanwhile, some market investors have begun considering the possibility that we may not see rate cuts this year.
Office Scents
For the millions of workers who find going into the office stinks, some executives say they have a remedy: Make the office smell better. Employers are using scent to boost moods and get workers to come in.
HSBC Write Down
Global banking giant HSBC wrote down its 19% stake in Bank of Communications, a large Chinese bank, by $3 billion leading to a $153 million loss for the last quarter.
GDI
Gross Domestic Income has been running well below GDP figures since late 2022, and was just 1.5% in the third quarter of 2023, its most recent release.
US Debt Expense
The U.S. government is expected to pay an additional $1.1 trillion in interest over the coming decade. Interest costs are on pace to surpass defense this year as one of the largest government expenses in the budget. Only Social Security and Medicare are forecast to be bigger burdens in the coming years.