President Trump paid no federal income tax in 10 of the past 15 years, and just $750 in 2016 and 2017, according to a new report from the New York Times. He also is reported to have hundreds of millions of dollars in outstanding debts, most of which would come due during a second term.
Axios Re:Cap focuses on what is and isn't surprising about the revelations, plus how real estate developers are taxed, with Francine McKenna, an independent financial journalist and certified public accountant.
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Snapchat on Thursday debuted a slew of new products and user metrics for things like games and augmented reality lenses that have been built using Snapchat's developer tools.
Why it matters: It's an important milestone in Snapchat's transformation from a social network to a camera company that caters to developers.
While Fed chair Jerome Powell is brushing off the seismic rise in government bond yields and a corresponding decline in stock prices, a group of central bankers in the Pacific are starting to take action.
Driving the news: Bank of Japan governor Haruhiko Kuroda told parliament on Friday the BOJ would not allow yields on government debt to continue rising further above the BOJ's 0% target.
Senate Minority Leader Chuck Schumer (D-N.Y.) declared on Wednesday that Democrats have gained control of the Senate, with Rev. Raphael Warnock having defeated Sen. Kelly Loeffler (R) and Jon Ossoff currently leading in the race against former Sen. David Perdue (R).
Why it matters: A 50-50 Senate would give Vice President-elect Kamala Harris the tie-breaking vote after Jan. 20. Democratic control of the Senate will decide the fate of Biden's presidency, from whether he gets his Cabinet nominees to whether progressives get their tax hikes and public spending.
