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Chinese AI model takes US tech industry by surprise with abilities rivaling Claude and ChatGPT Tech XploreChina's Moonshot AI Unveils Kimi Model, Threatening America's Lead The New York TimesMeet Yang Zhilin, the CEO and founder behind China's buzzy new Kimi K3 AI model Business InsiderAI Upheaval Crushes Retail Traders Crowding Into Leveraged Funds Bloomberg.comChina's Kimi K3 Hits US Stock Markets. Is the American AI Boom Over? Yahoo Finance
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Shares rally 13% as private equity group's fee-generating assets under management beat expectations
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Uplift Investors, a private equity firm launched in 2025 by a trio of former HIG Capital executives, has raised $670m at the hard cap final close of its debut fund.
The post Ex-HIG Capital execs seal $670m hard cap close for debut Uplift Investors fund appeared first on AltAssets Private Equity News.
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There's no way to sugarcoat this: Small and midsize businesses should be scared to death about the consequences of the Inflation Reduction Act. Unless they provide goods and services to the green energy industry, the law's unforeseen consequences could increase their operating expenses in two ways. Here's what to expect — and how to prepare.
SEE MORE Audit-Proof Your Small Business
The Inflation Reduction Act is essentially a climate change law with some health care benefits. While the new legislation doesn't include any direct tax increases on small and midsize businesses, some of its provisions have the potential to raise costs for these companies significantly.
First Reason Why Cost of Business Could Be Going Up
For one, your chances of being audited may be going up. The new bill substantially expands the Internal Revenue Service's budget: More than half of the $80 billion increase in the IRS budget over 10 years will be used to beef up enforcement through new technology and new hires. That means more audits for companies that are the least able to financially manage them. I worry for businesses that gross $5 million or less since they usually don't have excess funds to pay a lawyer $50,000 to fight the IRS if their matter proceeds to court.
In a letter to the Senate, the agency's commissioner said, "These resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans." Even so, with the hire of new auditors, it's likely that people with little or
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