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Microsoft Corporation's ( MSFT ) board has approved a $60 billion stock repurchase program, according to reports. The company also raised its quarterly dividend to 62 cents from the earlier 56 cents. The dividend will be paid out on Dec. 9 to persons who held Microsoft shares as of Nov. 18. The share repurchase program does not have a timetable and can be terminated any time, the company stated. Microsoft has stepped up its share buyback programs in the past decade, announcing such programs every three years since 2013. For example, it initiated $40 billion share buyback programs in 2013 and 2016. The announcement of this new program comes toward the end of a similar 2019 $40 billion program. Microsoft has already spent $23 billion from that program this year and has $8.7 billion remaining. Key Takeaways Microsoft's board has approved a $60 billion share buyback program. The company also announced an 11% hike in its quarterly dividend. Microsoft's announcement …

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Many home buyers rely on real estate apps like Zillow and Redfin to focus their searches based on price, location, and time on market. Many sellers also rely on the apps' home value estimators to help them set a price. However, the Redfin Estimate and Zillow Zestimate aren't always accurate. Here is what you can do about it as a homeowner. Key Takeaways The Redfin Estimate and Zillow Zestimate calculate a home's market value using publicly available information and user-submitted data. Both tools are often used by buyers when shopping for a home. Redfin's median error rate is 3.04% for on-market homes, while Zestimate's is 1.9%, according to the two companies. Neither home value estimator can or should replace a professional appraisal. If you believe your home's estimated value is inaccurate, you can contact the companies with updated information to correct it or sometimes fix it yourself online. What Is the Redfin Estimate? The Redfin Estimate is a …

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Reconstructing lost records and filing tax returns may not be at the top of most people’s to-do lists in the wake of a hurricane, a wildfire, or a global pandemic. Nevertheless, they are critical for a number of reasons, including getting reimbursement for the damage from an insurance company, obtaining federal assistance, and reporting losses on a tax return . Key Takeaways After a natural disaster, it’s critical to reconstructing lost records in order to get reimbursement from an insurance company, obtain federal assistance, and report losses on a tax return. Victims of a disaster need to gather the documentation for their real property, personal property, and vehicles. Businesses must also recreate a list of lost inventory. The banks and credit card companies you do business with are a good place to start reconstructing your financial paperwork. Due to Hurricane Ida, some residents and business owners in Louisiana and parts of Mississippi, New York, …

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As COVID-19 testing markedly expands under President Biden’s recently announced six-point national strategy, people who use at-home tests may be able to have their out-of-pocket costs covered in full. Key Takeaways The costs of home COVID-19 tests are eligible medical expenses, the IRS says, making them reimbursable under FSAs or HSAs and tax-deductible for some taxpayers. To be eligible for a tax deduction, your total unreimbursed medical and dental costs must exceed 7.5% of your income. Demand for at-home tests is surging along with the Delta variant, which has led to supply constraints and calls to ramp up production. What's Eligible for Reimbursement or a Deduction? The IRS last week reminded taxpayers that the cost of at-home COVID testing is an eligible medical expense. That means it qualifies as a tax deduction or for payment or reimbursement by flexible spending accounts (FSAs), health savings accounts (HSAs), health reimbursement arrangements …

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- A + A KUALA LUMPUR (Sept 17): Top Glove Corp Bhd expects to continue to experience headwinds amid the industry-wide practice of downtrending average selling price (ASP) for gloves, increasing market competition from Chinese glove makers, and slower growth in demand due to customers holdings back on their purchase in anticipation of a normalising of ASP. In a virtual briefing today, Top Glove founder and executive chairman Tan Sri Dr Lim Wee Chai said the ASP is expected to continue to ease and will only normalise in January next year. However, he believes the price of gloves will still be higher than pre-pandemic levels, given the higher cost structure that is expected to be picked up by the glove industry. This, he said, includes higher costs of operations due to interruptions from temporary closure of factories because of the pandemic, as well as environmental, social and governance (ESG) related compliance costs. Notwithstanding that, Lim is confident that …

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A Taiwanese flag flaps in the wind in Taoyuan, Taiwan on June 30, 2021. (Photo by Ann Wang/Reuters filepix) - A + A TAIPEI (Sept 17): Taiwan's economy minister expressed concern on Friday about China's "sudden" decision to apply to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and said it hoped it did not affect the island's application. China filed to join the free trade agreement in a letter to New Zealand's trade minister, Damien O'Connor. Taiwan Economy Minister Wang Mei-hua told reporters in Taipei that China's application had been "sudden". Many of China's recent policies ran contrary to the principles of a free economy and lacked transparency, such as import bans "without a reason", and China may not be able to reach the "high standards" of the CPTPP, she said. "They also have friction with some CPTPP member states," she said. Taiwan has been making its own preparations to join the CPTPP and believes it will …

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- A + A SHANGHAI (Sept 17): Tencent Holdings's popular WeChat messaging app will start allowing users to access external links from Friday, days after regulators told the company and its rivals to end a long-standing practice of blocking each other's links. China's technology giants have historically prevented links and services by rivals from being shared on their platforms. On Monday, however, regulators said they were ordering firms to rectify this as the practice affected users' experience and damaged consumer rights. The move is part of a broader regulatory crackdown on the industry that has wiped billions of dollars off the market value of some of China's largest companies. WeChat said on Friday that it will implement the changes in phases, starting with allowing users to access links in private, one-to-one chats once they upgrade to the latest version of WeChat, although it would continue to follow principles such as preventing excessive marketing. The …

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- A + A KUALA LUMPUR (Sept 17): Electronic payments firm Revenue Group Bhd saw its net profit for its fourth financial quarter ended June 30, 2021 (4QFY21) fall 65.5% to RM1.28 million from RM3.71 million in 3QFY21 on lower sales of electronic data capture (EDC) terminals, although rental and maintenance returns rose. This is on the back of a 39.6% quarter-on-quarter decline in revenue to RM17.55 million, as the period under review saw the reimposition of the Full Movement Control Order (FMCO). On a year-on-year basis, 4QFY21 saw lower sales of EDC terminals. However, Revenue Group recorded higher returns from rental and maintenance of EDC terminals. The latter, coupled with the more relaxed MCO compared with in 4QFY20, helped lift the group’s net profit by 181.7% y-o-y to RM1.28 million or 0.29 sen per share, from RM455,000 or 0.12 sen per share. But revenue was down 25.2% to RM17.55 million, from RM23.48 million  in 4QFY20. For the full year FY21, the group …

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- A + A KUALA LUMPUR (Sept 17): Handal Energy Bhd has secured a new contract from Tanjung Offshore Services Sdn Bhd for the provision of portable crane equipment and services package. In an exchange filing today, Handal said the contract was awarded to its wholly owned subsidiary Handal Cranes Sdn Bhd via a letter of award dated April 27. The contract commenced on July 2 and the estimated completion date is in December 2021. Handal said it had received the approvals from both Tanjung Offshore and Petronas Carigali Sdn Bhd as the end user to announce the contract on Sept 16. "The provision of equipment and services for the contract is for the plug and abandonment integrated services for Pulai A for Petronas Carigali," it added. Handal said the contract does not have any specified value as it is on a "call-out" basis whereby a work order will be issued at the discretion of Tanjung Offshore based on the activities scheduled and rates throughout the duration of the …

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- A + A KUALA LUMPUR (Sept 17): Eco World Development Group Bhd’s net profit for the third quarter ended July 31, 2021 (3QFY21) dipped marginally by 1.9% to RM35.15 million, from RM35.83 million in the same period a year ago. Revenue for the quarter fell 6.06% to RM448.91 million from RM477.87 million in the same quarter last year, mainly due to more completed or near-completed properties being sold, which enabled a higher percentage of revenue to be immediately recognised upon completion of sale of the units. However, for the cumulative nine-month period, Eco World's net profit rose 59.19% to RM139.9 million from RM87.88 million in the same period a year earlier, while cumulative revenue was up 1.14% to RM1.38 billion, from RM1.36 billion previously. With that, Eco World recorded RM2.873 billion in sales for 9MFY21 and by Aug 31 2021, it had reached RM3.11 billion. The group also saw its sales increase by more than RM1 billion since 2QFY21, enabling it to surpass …

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