CNBC.com’s MacKenzie Sigalos has the day’s top business news headlines. On today’s show, CNBC wealth editor Robert Frank breaks down the New York Times’ massive review of President Trump’s taxes, including the detail that he reportedly only paid $750 in federal taxes in 2016. Plus, CNBC.com’s Dawn Kopecki and Michael Wayland broke the story of new allegations of sexual abuse against Nikola founder and former executive chairman Trevor Milton. They join ‘After Hours’ to explain their reporting.
Two women have come forward with formal sexual assault allegations against Nikola founder Trevor Milton, accusing the 38-year-old billionaire in complaints filed with Utah authorities of sexual abuse when both women were 15 years old.
The accusations, stretching back more than 15 years, follow Milton’s resignation as executive chairman of Nikola on Sept. 21 after short seller Hindenburg Research released a damning report detailing fraud allegations. The Hindenburg report has reportedly sparked inquiries into Milton and Nikola by the Securities and Exchange Commission and Department of Justice.
President Donald Trump’s businesses have hemorrhaged hundreds of millions of dollars over the last two decades, allowing him to minimize his federal income tax bill to $0 or nearly $0 for many of the years in that period, according to a bombshell report published on Sunday by The New York Times.
Trump paid just $750 in federal income taxes in 2016 and another $750 the following year, the newspaper reported, and none at all in 10 of the previous 15 years.
The coronavirus has killed at least 1 million people across the globe, a nightmarish milestone in the world’s fight against the virus that emerged from Wuhan, China, late last year, according to data compiled by Johns Hopkins University.
Roughly half of the world’s total Covid-19 fatalities have been reported in only four countries — the United States, Brazil, India and Mexico, according to Hopkins data.