The bottom line
Black Panther is now the second-fastest grossing movie of all time, having taken $605.4 million at the U.S. box office in its first 31 days. The Marvel Comics film is also the first to top the weekend charts for five straight weekends since Avatar did so in 2010 (and only the fourth in 20 years after Titanic, The Sixth Sense, and Avatar).
The Securities and Exchange Commission this week announced its biggest-ever whistleblower rewards, with roughly $83 million combined going to three whistleblowers who alerted the regulator that Bank of America misused customer cash and securities to generate profits. With the help of the whistleblowers’ information, the SEC reached a $415 million settlement with the bank.
The Wall Street Journal
Roughly 84 percent of U.S. private-sector jobs—105 million—are in the service industry, including retail clerks, truck drivers, and doctors. By contrast, only 20.5 million jobs are in goods-producing industries such as logging, mining, construction, and manufacturing.
The New York Times
Former FBI Director James Comey’s forthcoming memoir soared to the top of Amazon’s best-seller list last weekend, more than a month ahead of its rollout in bookstores. A Higher Loyalty: Truth, Lies, and Leadership will be officially released on April 17.
Amazon briefly overtook Google parent Alphabet in market value for the first time this week. The market cap of the Seattle-based e-commerce powerhouse hit $762.7 billion, with Alphabet close behind at $762.3 billion.
A tax curveball for sports teams
When President Trump hosted the 2017 World Series–winning Houston Astros last week, he “heaped praise” on himself for last year’s sweeping tax cuts, said Jim Tankersley in The New York Times. Left unsaid: The new law “levies a large new tax on the Astros” and other sports franchises. A single word change to a corner of the tax code that mostly applies to farmers and manufacturers means that sports teams “could now face capital gains taxes every time they exchange or trade their highly paid players.” For decades, teams have swapped players “without fear of taxation,” under a provision allowing businesses to exchange “like-kind” assets. The tax law “now allows only real estate swaps to qualify for that special treatment.” Team owners are frantically lobbying Congress for a fix. “I don’t think [lawmakers] thought about baseball when they thought about this change,” said sports tax expert Kari Smoker.