Month: August 2022

SHREVEPORT, La. – All elected officials and candidates for office must file what is called a financial disclosure statement that provides a broad overview of their occupation, employment, business associations, income, investments and creditors. The purpose of the disclosure is to take a look at the financial picture to determine whether it would make the elected official or candidate subject to any conflicts of interest or outside influences. The statement must be submitted by May 15 of each year for occupants. But even those who want to hold elected office must also apply. The term, however, is different. Candidates standing…

WASHINGTON (AP) – Democrats lowered part of their proposed minimum tax on big corporations and made other changes to their giant economic bill, Senate Majority Leader Chuck Schumer said Friday as they moved toward the campaign season win for President Joe Biden. internal agenda In an unusual nod to closed-door negotiations, Schumer, D-N.Y., said Democrats abandoned a proposal to raise taxes on hedge fund executives after centrist Sen. Kyrsten Sinema, Arizona Democrat, said he would vote “no” otherwise. In its place, Schumer said, the measure now has a new tax, which others said will be 1 percent, on shares that…

Sporrer/Rupp | Image Source | Getty Images Market declines can stoke fears among retirees that they will no longer have enough assets to live on. But it turns out that might not be the biggest financial risk they should consider in retirement. Instead, longevity—potential retirees may live longer than expected and run out of money—is actually the biggest financial threat, according to recent research from Boston College’s Center for Retirement Research. The paper ranked real and perceived risks for retirees. Market risk ranked first among retirees’ perceived risks, which the researchers wrote “reflects retirees’ exaggerated assessments of market volatility.” Older…

On July 29, 2022, a person removes the nozzle from a pump at a gas station in Arlington, Virginia. Olivier Douliery | AFP | Getty Images Now you’d be hard-pressed to find a recession in your rear-view mirror. What lies along the way, however, is another story. There is no historical precedent for a recessionary economy to produce 528,000 jobs in one month, as the US did in July. An unemployment rate of 3.5%, tied for the lowest since 1969, is not consistent with contraction. But that doesn’t mean there isn’t a recession ahead, and ironically, it’s the phenomenal resilience…

SHENZHEN, China–(BUSINESS THREAD)–OneConnect Financial Technology Co., Ltd. (NYSE: OCFT and HKEX: 6638) (“OneConnect” or the “Company”), a leading technology-as-a-service platform for financial institutions in China, today announced that it will release financial results for the second quarter and the first half of 2022 before the US markets open on Wednesday, August 17, 2022. A conference call will be held on the same day. Date and Time Wednesday, August 17, 2022 at 8:00 AM EST Wednesday 17 August 2022 at 20:00 Hong Kong time Webcast Link: Mandarin Channel: English Channel: Dial numbers: Mandarin Channel: Access code: 319716 Phone number: Mainland China:…

The Frank Gehry-designed headquarters that Facebook moved into in 2015 was a cavernous, elongated warehouse with concrete floors and a deliberately unfinished feel. At the center of the 500-meter, open-plan expanse was a nest of desks where Mark Zuckerberg and his top lieutenants could congregate. The massive scale, hustle and bustle and feel of a core group gathered in an improvised work environment seemed like the perfect physical expression of a company that had always sought to “move fast and break things”. Seven years later, Zuckerberg’s company, now known as Meta, is under pressure to move as fast as ever….

August 5, 2022 Washington, DC – Senate Finance Committee Chairman Ron Wyden, D-Ore., today released new data provided by the Joint Committee on Taxation (JCT) showing the low effective tax rates paid by hugely profitable businesses that potentially would be subject to the minimum corporate tax, based on the income from the recent financial statements and the effective tax rate requirements. In 2019, between 100 and 125 corporations had financial statement revenues of more than $1 billion and an effective tax rate of less than 5 percent. These companies had an average financial statement revenue of 8.9 billion dollars and…

Republicans are sharpening their knives as the Senate prepares to adjourn for a long weekend as Democrats deploy a special process to pass the party’s sweeping health care, tax and climate plan without the participation of all the corridor Republican leaders took umbrage at the Democratic effort at a news conference Friday, a day before the Senate is set to begin considering the plan, while targeting Sens. Joe Manchin (DW.Va.) and Kyrsten Sinema (D -Ariz. ), two centrist resistance keys, to support the effort. “So how will the vote-a-rama be?” Sen. Lindsey Graham (RS.C) told reporters Friday, referring to the…