#FINANCE News
State may send out new $1.8 billion in direct payments
newsweek.com South Carolinians could earn $1.8 billion in rebates after the state found the extra money in a state government bank account—and one expert told Newsweek it's a sign of the…
ChatGPT replacing human investment advisors isn’t a question of ‘when’ but ‘if,’ Wharton professor says
aol.com Good morning. Any investment advisors concerned about being replaced by AI can breathe easy—perhaps for quite some time. On a recent episode of Wharton's Ripple Effect…
I'm a tax lawyer who helps wealthy people move to lower their taxes
businessinsider.com Hodgson Russ LLP; Alexander Spatari/Getty Images As a tax lawyer, Mark Klein, has seen wealthy individuals continue to relocate to tax-free states. While savings are the…
Britain’s Thames Water makes new clean-up pledge in bid to raise prices
theglobeandmail.com Britain’s Thames Water said on Monday it would spend an extra £1.1-billion ($1.4-billion) on tackling sewage spills and fixing leaks to try to persuade the regulator to…
Canada's EV Drive Accelerates as Honda Eyes Ontario Manufacturing Pact: Report
benzinga.com Canada is reportedly nearing a deal with Honda Motor Co. HMC to manufacture electric vehicles and components in Ontario. Honda’s agreement involves constructing new…
Pakistan bargains hard for larger IMF deal of up to $8bn
asia.nikkei.com ISLAMABAD -- Pakistan has made a formal request to the International Monetary Fund for a new loan package in the range of $6 billion to $8 billion under the Extended Fund…
Apec Business Advisory Council meeting: Hong Kong to highlight culture, innovation and sustainability to impress delegates
scmp.com “Besides seeing Hong Kong as a financing centre, we hope that [Apec delegates] will have a different view of the city,” said Nisa Leung, managing partner of Qiming Venture…
Dimon Meets With Development Bank Leaders Seeking Private Money
finance.yahoo.com JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon met with executives from the World Bank Group and several other multilateral development lenders as they seek to…
Federal budget’s capital gain changes, Toronto’s gold heist arrests and Canada’s inflation rate: Must-read business and investing stories
theglobeandmail.com Getting caught up on a week that got away? Here’s your weekly digest of the Globe’s most essential business and investing stories, with insights and analysis from the pros,…
CIBC sees Ottawa's bond issuance rising 22%
financialpost.com Canadian Imperial Bank of Commerce says a combination of refinancing needs, the budget balance and non-budget items totals $265 billion, but the Finance Department has…
Nobel laureate Esther Duflo proposes taxing 3,000 billionaires to protect the world’s poorest from climate change
fortune.com The world’s rich nations have agreed, several times, that helping poor countries cope with the fallout from climate change is a priority — but so far they’ve failed to put…
Overlooked No More: Lizzie Magie, the Unknown Inventor Behind Monopoly
nytimes.com Lizzie Magie in 1892. She conceived of The Landlord’s Game as an ideological tool about political economics. Magie’s creation, The Landlord’s Game, inspired the spinoff we…
Federal budget does not change fiscal track, says Macklem
theglobeandmail.com Bank of Canada Governor Tiff Macklem said that this week’s federal budget has not significantly changed the government’s fiscal path and is unlikely to impact the country’s…
Opinion: An unambitious, lacklustre Budget 2024
theglobeandmail.com John Rapley is an author and academic who divides his time among London, Johannesburg and Ottawa. His books include Why Empires Fall (Yale University Press, 2023) and…
National Bank CEO calls on Ottawa to remove regulatory barrier to growth
theglobeandmail.com National Bank of Canada chief executive officer Laurent Ferreira is calling on Ottawa to remove regulatory barriers crimping productivity and straining quality of life for…
First Quantum copper mine closure halves Panama's growth
financialpost.com Panamanian officials are meeting rating firms this week to reinforce their commitment to fiscal and growth targets amid rising investor concern about the country losing its…
Podcast links: in search of financial security
abnormalreturns.com Listening Is Taylor Swift's new album going to break Spotify ($SPOT)? (news.northeastern.edu) AI playlists are coming. (techcrunch.com) Economy Michael Klein talks with…
Canada Set to Implement International 'Crypto-Asset Reporting Framework' by 2026
tftc.io Canada is positioning itself to adopt the international Crypto-Asset Reporting Framework (CARF) for taxation by the year 2026, ahead of the global expectation for 47…
France asks retailers to alert customers to cases of 'shrinkflation'
apnews.com The French government announced a new rule on Friday that will require stores to tell customers when a product becomes smaller but its price stays the same or increases, a…
Q1 Performance a Green Light for Investors?
entrepreneur.com The Goldman Sachs Group (GS) comfortably topped analysts’ earnings and revenue estimates in the first quarter. After its solid first-quarter performance, should investors…
David Dodge says new federal budget hurts the fight against inflation
financialpost.com Former Bank of Canada Governor David Dodge said the increase in spending in the federal government’s new budget will make the central bank’s battle against rising prices…
German finance minister rejects Brazil’s proposal to tax super-rich
theglobeandmail.com German Finance Minister Christian Lindner rejected on Thursday Brazil’s proposal to tax the super-rich. “We do not think it is suitable,” he said at a press conference…
Thursday links: sharing your best work
abnormalreturns.com Strategy Passive investors don't change relative prices. (bloomberg.com) A good outcome doesn't necessarily mean it was a good decision. (novelinvestor.com) Don't change…
Ottawa’s plan for a (very limited) increase in the capital gains tax? It’s a start
theglobeandmail.com In the run-up to the 2015 election, the federal Liberals touched an electrified third rail of Canadian politics: they promised to raise taxes. It only applied to high-income…
Earnings Announcement
entrepreneur.com American Express Company (AXP) will publish its first-quarter earnings on April 19. After missing the earnings and revenue expectations in the previous quarter, will the…
World leaders have a chance to raise taxes for rich people like me. I’m begging them to take it
theguardian.com The need to tax rich people like me has never been so dire. Extreme wealth concentration in the hands of a few oligarchs is a threat to democracy the world over. Meanwhile,…
Capital gains tax change draws ire from some Canadian entrepreneurs worried it will worsen brain drain
cbc.ca A chorus of Canadian entrepreneurs and investors is blasting the federal government's budget for expanding a tax on the rich. They say it will lead to brain drain and…
For sale: one brand-new oil pipeline. $34 billion OBO. Call Ottawa
cbc.ca In her budget speech to the House of Commons on Tuesday, Finance Minister Chrystia Freeland took a moment to celebrate the finishing touch on expansion of the Trans Mountain…
Canada Considering Digital Services Tax Targeting Largest Tech Companies
pymnts.com Canada’s Parliament is considering a tax on digital services revenue that would impact the world’s biggest tech companies. The legislation would cover companies’ digital…
Industries upset at being left out of new tax break for small businesses
theglobeandmail.com Some industries say they are disappointed and confused by the federal government’s decision to leave them out of a new tax break for small businesses that is modelled…
'Very troubling for many investors': Bill Morneau takes aim at capital gains tax hike
financialpost.com Prime Minister Justin Trudeau’s former finance minister said he rejected the idea of hiking the capital gains tax while in office due to concerns it would stunt Canada’s…
Opinion: Higher capital gains taxes won’t work as claimed, but will harm the economy
theglobeandmail.com Alex Whalen and Jake Fuss are analysts at the Fraser Institute. Amid a federal budget riddled with red ink and tax hikes, the Trudeau government has increased capital gains…
Cayosoft Achieves Record Sales, Company Growth as Enterprises Embrace Instant Active Directory Recovery
benzinga.com COLUMBUS, Ohio, April 17, 2024 (GLOBE NEWSWIRE) -- Cayosoft Inc., the leader in Microsoft Active Directory management, monitoring, and recovery, today announced it has…
Earnings Loom
entrepreneur.com the world’s biggest oilfield services company, will publish its first-quarter earnings on April 19. The company is expected to report revenue and earnings growth over the…
Canada will soak the rich with capital gains tax jump to raise billions for housing in market where Gen Z can’t catch a break
fortune.com Canada will raise capital gains taxes on businesses and wealthy individuals to help pay for tens of billions in new spending aimed at making housing more affordable and…
Impatience over stalled tax deal grows in Senate
thehill.com Supporters of a bipartisan tax deal that sailed through the House in January are growing impatient as the measure stalls in the Senate amid Republican opposition to the…
Budget’s capital gains tax changes divide the small business community
theglobeandmail.com The federal government’s decision to change the way capital gains taxes work for small-business owners is drawing criticism for arbitrarily creating economic winners and…
Canada Hikes Capital Gains Tax to Raise Billions for Housing
finance.yahoo.com Canada will raise capital gains taxes on businesses and wealthy individuals to help pay for tens of billions in new spending aimed at making housing more affordable and…
Freeland taps Stephen Poloz to entice pension funds to invest in Canada
financialpost.com Canada’s finance minister has asked former central bank governor Stephen Poloz to examine ways to entice its pension funds to invest more in the country. We apologize, but…
Capital gains tax hike another blow to productivity, say economists
financialpost.com 'With this budget, the Trudeau government is shooting us in the foot' We apologize, but this video has failed to load. Finance Minister Chrystia Freeland delivered a federal…
Stephen Poloz will lead push to boost domestic investment by Canadian pension funds
theglobeandmail.com Ottawa is appointing former Bank of Canada Governor Stephen Poloz to lead a new federal working group that will look at ways to spur Canadian pension funds to invest more in…
Are you renting with no plans to buy? Here's what the federal budget has for you
cbc.ca The federal government tabled its annual budget on Tuesday with a promise to open the door to homeownership for millennial and Gen Z renters. You'll have to read the fine…
Liberals pledge $9B in new money for Indigenous communities in 2024 budget
cbc.ca The Trudeau government is promising $9 billion in new cash for Indigenous communities over the next five years, a smaller spend than some past budgets but one the government…
Federal budget hikes tax on companies, individuals making more than $250,000 in capital gains
theglobeandmail.com The federal government is increasing the capital gains tax for wealthy individuals and companies, although lowering the tax rate for some entrepreneurs who sell their…
Is open banking coming to Canada? Freeland expected to deliver new framework in federal budget
theglobeandmail.com Major changes may be coming to Canadian banking as the country gets one step closer to implementing an open system that could help people manage their finances more…
NFLX Earnings Call Approaching
entrepreneur.com Streaming giant Netflix (NFLX) will publish its first-quarter earnings on April 18. The company is expected to report revenue and earnings growth over the prior-year…
Janet Yellen tackles China over flood of cheap goods
amp.cnn.com Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Janet Yellen has…
Business worries Justin Trudeau will hike taxes to pay for housing gambit
financialpost.com Prime Minister Justin Trudeau’s government is set to unveil an ambitious budget aimed at fixing housing affordability and helping young Canadians — but the big question is…
UK to legislate on cryptoasset regulatory framework by end of July, minister says
theblock.co The UK's Finance Minister said that the government plans to legislate for a regulatory cryptoasset framework by the end of July.
Braces for Earnings
entrepreneur.com the second-largest U.S. lender, will publish its first-quarter earnings on April 16. With the bank’s net interest income expected to decline in the first quarter, should...…
Ottawa’s plan to count rent payments toward credit scores needs safeguards, tenant advocates say
theglobeandmail.com The federal government’s move to have rent payments count toward credit scores could help millions of Canadians build a stronger credit history, but tenant advocates say the…
Federal Reserve Yielding To Political Ploy To Stiffen Innovation, Caitlin Long
coingape.com In an interview with FOX Business reporter Eleanor Terrett, Custodia Bank CEO Caitlin Long talked about how the decision of the court in the case with the Federal Reserve is…
Trudeau promises low-cost loans to expand child care spaces as pre-budget pledges keep coming
financialpost.com Prime Minister Justin Trudeau said his government will set aside $1 billion to provide low-cost loans for expanding and renovating child care spaces. We apologize, but this…
Ontario's budget deficit ballooning to $9.8B next year, almost double its projection
financialpost.com TORONTO — Ontario is delaying its path to balance as lethargic economic growth drags the province’s books further into the red, with a $9.8-billion budget deficit projected…
Opinion: New taxes would be a mistake. Freeland is still likely to hike levies on corporations and the wealthy
theglobeandmail.com Federal Finance Minister Chrystia Freeland knows hiking taxes would be a mistake. But she’s still likely to raise levies on the country’s largest companies and wealthiest…
5 Investors Betting Big on Globe Life (GL) Stock
investorplace.com GL stock is already rebounding after Fuzzy Panda's short report After getting hit by a short report from Fuzzy Panda Research yesterday, shares of Globe Life (NYSE:GL) hit a…
Canada's new 30-year mortgages seen helping small 'sliver' of market
financialpost.com Canada’s decision to allow first-time buyers to take out mortgages with 30-year amortization periods on new builds will only affect “a sliver” of the country’s highly priced…
Canada's AAA credit rating at risk if deficit deepens, RBC warns
financialpost.com Canada is at greater risk of losing its AAA credit rating than other top-rated countries if the government fails to show fiscal discipline, Royal Bank of Canada has warned…
‘We’re seeing what we need to see. We just need to see it for longer’: Tiff Macklem explains the BoC’s thinking as it moves toward a pivot
theglobeandmail.com Bank of Canada Governor Tiff Macklem spent much of the past year shooting down speculation about when interest rates will start coming down. On Wednesday, he let his guard…