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WASHINGTON — Congress is poised to pass one of the largest economic relief bills in history on Monday. New forms of direct payments will be issued to millions Americans under the bill, assuming it passes and is signed by President Donald Trump. HOW MUCH WILL YOU GET? The IRS will issue checks based on your AGI or adjusted gross income. The information will come from your latest tax return which for most Americans is the 2019 calendar year. If you earn ,000 a year or less, you'll receive 0. If you earn between ,000 and ,000 a year, the amount will be prorated. The more your make, the less you'll get until you hit that ,000 threshold. Earners over that amount will not receive any money. Head of households will be able to earn up to 2,000 a year and still be eligible for a check. Couples who file their taxes jointly will earn similar levels to those who file individually. For instance, a couple who earns 0,000 or less a year will receive ,200. Couples who earn between 0,000 and 4,000 will receive less than ,200.Those with dependents, such as a child, will earn 0 per child. That's actually 0 more than what dependents received earlier this year. WHEN WILL CHECKS BE SENT?Secretary of the Treasury Steven Mnuchin said as soon as Congress approves the deal, he'll be able to begin depositing checks within a week. Those with direct deposit on file with the IRS will receive their money first. Paper checks will take longer. 1482
Walmart is retreating from Europe, merging its UK supermarket business Asda with bigger rival Sainsbury's.In return, Walmart will receive £2.97 billion (.1 billion) in cash and a 42% stake in the combined business, the companies said in a statement on Monday.The deal values Asda at £7.3 billion ( billion), and creates a mega retailer with 2,800 stores and combined sales of roughly £51 billion ( billion).The sale of Asda follows Walmart's exit from Germany, its other major outpost in Europe, in 2006.Walmart could use the cash to fuel its expansion in other international markets. The US retailer is reportedly close to agreeing to invest in India's Flipkart, an online retailer that has also attracted attention from Amazon."This proposed merger represents a unique and bold opportunity, consistent with our strategy of looking for new ways to drive international growth," Judith McKenna, the CEO of Walmart International, said in a statement.The combination with Asda will give Sainsbury's more firepower as it confronts digital competitors including Amazon and aggressive discount chains, such as Germany's Lidl and Aldi.It also creates a new UK market leader: Sainsbury's and Asda together control over 31% of the grocery market, according to Kantar Worldpanel. The current industry front runner, Tesco, has nearly 28%.Regulators will have a close look at the deal, but the geographical distribution of Sainsbury and Asda stores could limit concerns over reduced competition.Upmarket Sainsbury's is strong in southern England, while Asda, which tends to have larger stores and lower prices, is well represented in the north. Together, the supermarket chains employ 330,000 people.The UK Competition and Markets Authority last year approved Tesco's takeover of wholesaler Booker, saying the deal would not reduce competition in the sector, which is known for its razor-thin margins and frequent price wars. 1929

Wall Street is worried about a trade war.The Dow dropped 420 points on Thursday after President Trump said his administration will impose tariffs on steel and aluminum imports. The Nasdaq and the S&P 500 declined 1.3% apiece.Trump's controversial tariff announcement caught investors off guard and immediately raised concerns about retaliation from China or other major U.S. trading partners."This is the first shot across the bow over a trade war," said Art Hogan, chief market strategist at B. Riley FBR. "And nobody wins a trade war."Trump said his administration would impose a 25% tariff on steel imports and a 10% tariff on aluminum. It was not immediately clear whether Trump would exempt some countries from the tariffs, as his national security advisers have urged him to do to avoid hurting U.S. allies.Corporate America has warned Trump that tariffs could backfire. Last month, the Business Roundtable warned of the risk of "foreign retaliation" that would "harm the U.S. economy."Investors will be looking to see how U.S. trading partners react to the tariffs.Beyond worries about retaliation, the tariff news drove concerns about rising costs for companies that rely heavily on aluminum and steel, like auto and plane makers. Imports make up about a third of the steel American businesses use every year, and more than 90% of aluminum used here. Shares of Boeing fell 3% General Motors dipped 4%, and Ford dropped 3%.Related: NY Fed chief: Tariffs risk 'trade war'If the tariffs result in higher prices on steel and aluminum, companies that rely on those products may pass on some of the costs to consumers. That raises the specter of creeping inflation."This clearly will [lead to] higher prices in the production chain, which is part of the inflation path," said Quincy Krosby, chief market strategist at Prudential Financial.The timing of the tariff news surprised Wall Street. A formal announcement was expected at some point Thursday, but then it was called off. Later, Trump mentioned his tariff plans in a hastily arranged listening session with steel and aluminum executives. And he didn't provide crucial details, such as whether certain countries will be exempted.Concerns about trade come at an already shaky time on Wall Street. The S&P 500 and Dow fell about 4% in February, their worst month in two years. Fears about inflation and soaring bond yields caused a surge in volatility, including two 1,000-point plunges for the Dow.The market had come back as investors focused on the strong economy and booming corporate profits. But stocks fell sharply again on Tuesday and Wednesday, putting the Dow is back in negative territory for the year.Turbulence has picked up as well. The VIX volatility index spiked 15% on Thursday. Selling pressure will climb as volatility increases, Krosby said.At least two corners of the stock market cheered Trump's tariff announcement. U.S. Steel and AK Steel soared 6% and 10%, respectively.Century Aluminum also spiked 7%. Another major aluminum maker, Alcoa, gained 1%.Trump's tariff moves could force investors to confront another trade issue: NAFTA. Trump has repeatedly threatened to tear up this major trade deal with Canada and Mexico. Talks to renegotiate NAFTA, a major piece of the U.S. economy, have so far failed to produce a solution."It sets off the protectionist fears that had been lying dormant," said Hogan.— CNN's Jeremy Diamond contributed to this report.The-CNN-Wire? & ? 2018 Cable News Network, Inc., a Time Warner Company. All rights reserved. 3547
VISTA, Calif. (KGTV) -- Jury selection is expected to take all week in the trial of former NFL tight end Kellen Winslow II. The San Diego football star and son of Chargers Hall of Famer Kellen Winslow Senior pleaded not guilty to charges that he raped two homeless women in Encinitas last year. He's also charged with raping an unconscious seventeen-year-old girl back when Winslow was nineteen. Prosecutors say he was out of custody on million bail in connection with the felony case when he got in trouble again. Prosecutors say he fondled himself in front of a 77- year-old woman at a Carlsbad gym, asked her if she liked it, and groped her while she was in a hot tub at the same gym.Jan Ronis is a San Diego defense attorney not affiliated with the case, but watching it closely. "From what I've seen at the preliminary examination, everyone that testified seemed to have a lot of credibility. These were older women, you would extend the greatest credibility to that kind of witness," said Ronis. Winslow played ten seasons with the NFL. His defense team is reportedly planning to call two psychiatrists to testify. It's unclear if CTE, or Chronic traumatic encephalopathy will play a role in that defense. Ronis says it might not make a difference. "You can still be responsible for your conduct , criminally responsible, after having sustained a traumatic brain injury or something of that nature. It's different than say, your mental health issue was such that rendered you incapable of understanding the nature of your conduct that you couldn't understand the difference between right and wrong, " said Ronis. Opening statements are expected to begin May 20. Winslow faces life in prison if convicted on all counts. City News Service contributed to this report. 1787
VISTA, Calif. (KGTV) — Two men were arrested after stealing a car and crashing into another vehicle Tuesday in the North County.The two men carjacked a driver at gunpoint just before 3 p.m. in the 900 block of Postal Way in Vista, according to San Diego Sheriff's Department. After yanking the driver out of his vehicle and taking off, the two men soon crashed into another vehicle, before fleeing.A detective who happened to be in the area heard the call over the radio and started searching for the suspect, SDSO said. When he spotted the suspects, he began to follow them and relay directions to an SDSO helicopter overhead.Deputies took over and a brief pursuit began. The two men crashed into a curb and fled the vehicle. Deputies caught both men after a foot chase.SDSO said a loaded gun and illegal drugs were discovered in the vehicle.SDSO said the two men, identified as Joseph Laxton and Ricardo Hernandez, were arrested on charges of carjacking, hit-and-run, a felon in possession of a firearm, drugs, violating parole, threat causing death or great bodily injury, and participating in a criminal street gang. 1128
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