Asia FX weakens, dollar at over 2-mth high on bets of smaller rate cuts
-- Most Asian currencies weakened on Tuesday, while the dollar steadied at an over two-month high amid persistent bets that the Federal Reserve will cut interest rates...
-- Most Asian currencies weakened on Tuesday, while the dollar steadied at an over two-month high amid persistent bets that the Federal Reserve will cut interest rates...
Investors are growing increasingly bullish about the outlook for stocks as the Federal Reserve cuts interest rates. But are investors a little too bullish?
We recently compiled a list of the Jim Cramer’s Exclusive List of 9 YEV Stocks. In this article, we are going to take a look at where Dow Inc. (NYSE:DOW) stands against the other YEV stocks in Jim Cramer’s exclusive list. Recently, Jim Cramer sifted through the S&P 500 to identify stocks that satisfy his criteria: […]
According to Foresight News, Bloomberg reports that China has initiated the taxation of overseas investment gains for its super-rich citizens. In recent months, wealthy individuals in major Chinese cities have been asked to self-assess or have been summoned by tax authorities to evaluate potential tax liabilities, including unpaid amounts from previous years. Sources indicate that these individuals could face an investment gains tax of up to 20%, with some also potentially facing penalties for late payments. The final amounts, however, are negotiable.China's tax enforcement measures follow the implementation of the Common Reporting Standard (CRS) in 2018, a global information-sharing system aimed at preventing tax evasion. Although local regulations have long stipulated that residents are subject to taxes on global income, including investment gains, enforcement has only recently intensified.
According to Foresight News, the U.S. Financial Crimes Enforcement Network (FinCEN) has accused banking giant TD Bank of failing to report suspicious activities from an anonymous group of international cryptocurrency traders. FinCEN revealed that TD Bank processed over 2,000 transactions within nine months for a company named 'Customer Group C,' which operates in the sales financing and real estate sectors. Customer Group C had misrepresented its expected international wire transfer activities to TD Bank, claiming its annual sales would not exceed $1 million. In reality, Customer Group C allegedly conducted transactions exceeding $1 billion through TD Bank. The funds originated from a UK-based cryptocurrency exchange, with 60% of the money sent to Colombian financial institutions providing digital asset-related services. TD Bank did not report this suspicious activity until multiple law enforcement inquiries were made regarding Customer Group C. According to the U.S. Department of Justice, on October 10, TD Bank pleaded guilty to violating the Bank Secrecy Act and money laundering regulations, agreeing to pay an $18 billion fine. Additionally, FinCEN imposed a $13 billion fine on TD Bank and implemented a four-year monitoring period to address the same violations. The total $30.9 billion penalty is described as the largest fine under the Bank Secrecy Act to date.
The Dow Jones Industrial Average (^DJI) and S&P 500 (^GSPC) end Monday's session with fresh record highs, while the Nasdaq Composite (^IXIC) led the day and rose by 0.87%. Market Domination Overtime host Julie Hyman looks back on market index performances before turning her attention to the utilities sector (XLU) and leaders in the tech-heavy Nasdaq 100 (^NDX). To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. This post was written by Luke Carberry Mogan.
The aim of the NWF will be to make investments that maximise the mobilisation of private investment, the chancellor said.
A deep dive into what moved markets across the global economy.
By Joe Cash BEIJING (Reuters) -China's export growth slowed sharply in September while imports also unexpectedly decelerated, undershooting forecasts by big margins and suggesting...
BRASILIA (Reuters) - Brazil's economic activity again surprised on the upside in August, central bank data showed on Monday, reinforcing a view of heated economic momentum that...