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Real-time News
Microsoft (MSFT.O) rose 6% after the market closed after the company released its earnings.Microsoft (MSFT.O)s cloud business revenue in Q3 of fiscal year 2025 was US$42.4 billion.Microsoft (MSFT.O) had revenue of $70.1 billion in the third quarter of fiscal year 2025, compared with market expectations of $68.44 billion and $61.858 billion in the same period last year.Market news: Kellogg, the US governments special envoy for Russia-Ukraine issues, said that the United States is ready to "partially" agree to Russias territorial demands.On May 1, according to the Wall Street Journal, people familiar with the matter revealed that Republicans in the U.S. House of Representatives are seriously considering proposals to further limit tax breaks for corporate top pay, expanding the current restrictions that only apply to a small number of current or former executives with incomes over $1 million. These changes may be included in the trillion-dollar tax and spending bill that Republicans are drafting and trying to push through the House of Representatives this month. Discussions on this idea and other tax provisions are still ongoing, and lawmakers have not yet determined the details of which employees and employers will be affected. Limiting these tax breaks will increase taxes on companies and may indirectly hit high-income families, but perhaps this approach is more politically acceptable than raising the top marginal income tax rate for millionaires, which Trump recently considered and rejected. The resulting revenue can offset some of the tax cuts in the bill, including the extension of expiring provisions in the 2017 tax law, and Trumps plan to cancel the tip tax, overtime pay and social security benefits.