Late last week, the IRS made clear that small businesses taking loans under the emergency Paycheck Protection Program will not be able to deduct business expenses associated with loans that are forgiven. Such deductions would amount to a double tax benefit, because the money businesses receive from forgiven loans isn’t taxed. After the IRS published its guidance, however, a bipartisan group of senators backed legislation that would allow tax deductions for those expenses.

The asset manager acquires a provider of wealth management technology to more than 1,200 financial advisory firms in the U.S.

The impact of COVID-19 on smartphone sales was drastic, as market analysts noted shipments worldwide dropped by millions in the last few months. While manufacturers are typically nonspecific about sales numbers, IDC’s Quarterly Mobile Phone tracker noted this…

The Franklin Limited Duration Income Trust [NYSE:FTF] (CUSIP 35472T101) has declared a dividend of $0.0740 per common share payable May 15, 2020, to shareholders of record as of April 30, 2020. It is currently estimated that $0.0407 per share represents net investment income and $0.0333 per share represents return of principal.

As businesses reopen, social distancing rules will lead to new partitions between workspaces, reminiscent of the fabric-clad dividers of the 1980s.

Franklin Limited Duration Income Trust [NYSE American:FTF], a closed-end investment company managed by Franklin Advisers, Inc., announced today a distribution of $0.0730 per common share, payable June 15, 2020, to shareholders of record on May 29, 2020 (Ex-Dividend Date: May 28, 2020).

We’ve almost made it through the week! If you’re looking for something to watch tonight to help you sail into Friday, we’ve done a little digging to find the evening’s best streaming options.Read more...

Enterprise barcode scanner company Scandit has closed an $80 million Series C round, led by Silicon Valley VC firm G2VP. Atomico, GV, Kreos, NGP Capital, Salesforce Ventures and Swisscom Ventures also participated in the round — which brings its total raised …

Franklin's (BEN) preliminary assets under management (AUM) of $599.4 billion for April rise sequentially on positive market returns.

New vehicles today can produce a treasure trove of data. Without the proper tools, that data will sit undisturbed, rendering it worthless. A number of companies have sprung up to help automakers manage and use data generated from connected cars. Israeli start…

Welcome to the Franklin Resources earnings conference call for the quarter ended March 31, 2020. Statements made in this conference call regarding Franklin Resources, Inc., which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. At this time, I would like to turn the call over to Franklin Resources' President and CEO, Jenny Johnson.

This week Netflix is getting The Lovebirds, starring Kumail Nanjiani and Issa Rae. The film was originally set to launch in theaters, but due to the COVID-19 pandemic is launching on Netflix instead on May 22.Read more...

Fiduciary Trust International Completes Acquisition of Pennsylvania Trust

Congress sees anticompetitive behavior in Facebook’s big GIF purchase — but what if it’s more simple than it looks?

Legg Mason, Inc. (NYSE: LM) announced that its shareholders have voted to approve its proposal to merge with Franklin Resources, Inc. (NYSE:BEN), a global investment management organization operating as Franklin Templeton.

Fans upset over Zack Snyder’s original Justice League movie in 2017, and who have campaigned since then for Warner Bros. to “Release the Snyder Cut,” will finally get their wish. WarnerMedia is working with Snyder on a new version for HBO Max.

Q2 2020 Franklin Resources Inc Earnings Call

Tim Bray’s blog post suggests a worsening morale problem, and at a very bad time. Amazon’s fulfillment center workers May Day strike shows why

Franklin's (BEN) second-quarter fiscal 2020 (ended Mar 31) earnings highlight lower expenses, revenue declines and overall net outflows.

Templeton Emerging Markets Income Fund [NYSE: TEI] today announced a monthly distribution from net investment income of $0.0454 per share, payable on May 29, 2020, to shareholders of record on May 15, 2020 (Ex-Dividend Date: May 14, 2020).

The Senate is preparing to vote on a reauthorization of the Patriot Act, which has been used to enable surveillance of the kind exposed by Edward Snowden. It allowed ford the bulk collection of data on millions of phone calls that could be queried by law enfo…

Franklin Templeton Acquires Digital Wealth Leader AdvisorEngine

Franklin Resources (BEN) delivered earnings and revenue surprises of 50.00% and 0.78%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

A Facebook bug in the social network’s SDK caused major app crashes on Wednesday. Here’s how it happened and why it’s a big deal for app developers that rely on third-party services from major tech giants.

Canadian guru releases portfolio Continue reading...

Last week, during a visit to the Mayo Clinic, the vice president went mask-less. Social media quickly took note.

It’s a Microsoft heavy week! This week, Devindra and Cherlynn are joined by Alex Cranz, Gizmodo’s Senior Consumer Tech Editor, to chat about the bevy of new Surface devices. In particular, they explore why the Surface Go 2 and Book 3 are a bit disappointing —…

Ben Horowitz, the co-founder and general partner of venture capital firm Andreessen Horowitz won’t seek re-election to Lyft’s board, according to a document filed with the U.S. Securities and Exchange Commission on Monday. Horowitz has served as a board of di…

Legg Mason (LM) shareholders approve the merger with Franklin Resources (BEN), announced this February.

We’ll admit it: Some of your Original Content podcast hosts are a little skeptical about improvised comedy. Of course, we can enjoy improv when it’s done well. It’s just that we’ve seen it done less well, often by friends who are so enthusiastic without being…

Tonight graduating seniors will have the opportunity to attend a commencement ceremony with speakers including Barack Obama and LeBron James.Read more...

Netflix has released the first trailer for its series Space Force, which is a parodic take on the newest branch of the U.S. armed forces. The project was announced pretty shortly after the space-focused military branch was made official, so it’s actually pret…

We’re back to a somewhat regular week of news on this episode of the Engadget Podcast. Devindra and Cherlynn tackle the good and bad of Dell’s new XPS and Alienware laptops, before diving into Zocdoc’s telehealth play and what that could mean for our healthca…

Franklin Resources, Inc. (Franklin Templeton) (NYSE: BEN) today reported preliminary month-end assets under management of $599.4 billion at April 30, 2020, compared to $580.3 billion at March 31, 2020. The increase in assets under management was due to strong market performance and significant improvement in net outflows. Preliminary average assets under management for the quarter, through April 30, 2020, were $589.8 billion.*

Franklin Universal Trust [NYSE:FT], a closed-end investment company managed by Franklin Advisers, Inc., announced today a distribution of $0.0320 per share, payable June 15, 2020, to shareholders of record on May 29, 2020 (Ex-Dividend Date: May 28, 2020).

(Bloomberg) -- The video of an altercation on Monday between a white female executive and a black man in Central Park went viral almost immediately. Within 24 hours, the woman was out of a job.The woman, an employee of Franklin Templeton, is seen calling the police on her mobile phone saying “there is an African American man, I am in Central Park. He is recording me, and threatening myself and my dog.” The man had earlier asked her to leash her dog in the wooded area of the park, called the Ramble, according to his account.The incident underscores the nature of race relations in the U.S., in which African-Americans have faced outbursts -- and worse -- from whites while simply going about their business. It also demonstrates that companies are increasingly holding employees accountable even for behavior that occurs outside the office.“We’re living in chaos and predictable responses are going out the window,” said Davia Temin, founder of New York City crisis consultancy Temin and Co. “What wisdom would tell you, is to just walk away. But that usually takes a less stressful environment, and right now all the ions are charged.”pic.twitter.com/3YnzuATsDm— Melody Cooper (@melodyMcooper) May 25, 2020 On Monday, Franklin Templeton placed the woman, Amy Cooper, the firm’s head of insurance investment, on leave. By Tuesday afternoon, they fired her over the episode.“Following our internal review of the incident in Central Park yesterday, we have made the decision to terminate the employee involved, effective immediately,” a spokeswoman for the company said in a statement. “We do not tolerate racism of any kind at Franklin Templeton.”In the video posted on Facebook, the woman takes out her phone and says she will tell the police there is “an African American man threatening my life.” The man, Christian Cooper, is taping her on his phone.In a statement issued on Tuesday after she was fired, Amy Cooper expressed regret over the incident.“I want to apologize to Chris Cooper for my actions when I encountered him in Central Park yesterday,” she said. “I reacted emotionally and made false assumptions about his intentions when, in fact, I was the one who was acting inappropriately by not having my dog on a leash.”Cooper added that she was “well aware of the pain that misassumptions and insensitive statements about race cause” and never imagined she would be involved in such an incident.Christian Cooper could not be reached for comment.“I videotaped it because I thought it was important to document things,” he said, according to CNN. “Unfortunately we live in an era with things like Ahmaud Arbery, where black men are seen as targets. This woman thought she could exploit that to her advantage, and I wasn’t having it.”Some took to Twitter to applaud Franklin Templeton’s decision, and encouraged the firm to assess her record of potential workplace discrimination.Franklin Templeton declined to comment beyond its public statement.Central Park rules state that dogs must be leashed at all times in the Ramble.Franklin Resources Inc. is the parent of Franklin Templeton.(Adds statement from Amy Cooper starting in eighth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

For real this time. Its sister conference, Black Hat, has also been called off.

Templeton Global Income Fund [NYSE: GIM] today announced a monthly distribution from net investment income of $0.0129 per share, payable on May 29, 2020, to shareholders of record on May 15, 2020 (Ex-Dividend Date: May 14, 2020).

Looking for something entertaining to watch tonight? Each afternoon we’ve been rounding up some of your best streaming options for the evening.Read more...

Fiduciary Trust International Continues Expanding its New York Office, Welcoming Maudie Long, CFA® and David DeStefano