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After nearly nine months and seemingly endless negotiations in Washington, millions of Americans could soon get a second stimulus check. Congressional leaders unveiled a roughly $900 billion stimulus deal on Sunday that calls for another round of direct payments to help Americans get through the coronavirus pandemic. The $600 checks are half as large as the $1,200 payments lawmakers approved under the CARES Act in late March, but they could give many people a short-term financial lifeline within weeks. Congress has not yet released the text of the stimulus bill or other key details about the new payments. But here’s what is known about the second round of checks and what the rollout could look like based on how the first ones were distributed. Who is eligible for another stimulus check? Similar to the CARES Act, the latest stimulus deal will distribute $600 payments to individual taxpayers earning up to $75,000 a year or married couples with annual incomes up to $150,000. People with incomes above those limits will receive smaller amounts. It’s not certain how the payments will be phased out under the latest bill, but the CARES Act reduced high earners’ checks by 5 percent of the amount
Portable toilets vendor United Site Services is exploring a sale that could value it at around $4 billion, including debt, as its hand wash stations business sees strong demand during the pandemic, people familiar with the matter said on Friday. Platinum Equity, the buyout firm which owns United Site Services, has hired investment bankers to advise it on a sale process, the two sources said, requesting anonymity as the matter is confidential. Los Angeles-based Platinum is run by billionaire founder Tom Gores. The firm says it has around $23 billion in assets under management and also owns the NBA’s Detroit Pistons. United Site Services was valued at just $1.15 billion when Platinum Equity acquired the Westborough, Massachusetts-based company four years ago, according to credit ratings agency Moody’s Investors Service. It now has 12-month earnings before interest, taxes, depreciation and amortization (EBITDA) of more than $300 million, according to the sources. Platinum declined to comment. United Site Services did not immediately respond to a request for comment. The COVID-19 pandemic has accelerated the growth of the hand wash stations industry, with the market seen growing from $919.4 million in 2019 to almost $1.5 billion by 2027, according to research firm ResearchAndMarkets.
The feds have asked Tesla to recall about 158,000 cars over concerns that their touch-screen displays could fail after a few years. The screens pose a safety risk because they allow drivers to control several key features in Tesla’s Model S sedans and Model X SUVs, including the backup cameras and air-conditioning systems that de-fog the windows, according to the National Highway Traffic Safety Administration. Drivers can lose control of those functions if the displays fail, increasing the risk of a crash, regulators told the electric-car maker in a Wednesday letter. NHTSA asked Tesla to either recall the risky vehicles and notify their owners about the problem or explain why a recall isn’t needed. The affected cars include Model S’s from the 2012 through 2018 model years and Model X’s from 2016 through 2018, officials said. At the root of the problem is the processor Tesla uses in the displays, NHTSA says. Each one has an Nvidia-made memory chip with eight gigabytes of capacity, part of which is used up every time the car is turned on, according to the letter. Eventually the chip hits full capacity — which can happen after five to six years — and the screen