Tax News

Alberta Premier Jim Prentice meets with B.C Premier Christy Clark in Vancouver, British Columbia

Premier of oil-rich Alberta says cuts needed, credit rating at risk: report

The oil-rich Canadian province of Alberta will spend its C$6 billion ($4.79 billion) contingency fund in six months and risk its credit rating unless it moves quickly to shore up its finances, Alberta Premier Jim Prentice said in an interview with the Globe and Mail newspaper. Alberta is the only Canadian province without a sales tax. Dropping oil prices have bit into the revenue of the Alberta …

  • The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar
    Trading cushions Glencore from commodity … Reuters - Tue, 3 Mar, 2015

    By Silvia Antonioli LONDON (Reuters) - A 15 percent rise in earnings at Glencore's trading division partially offset a hit last year from the slide in commodity prices, … More »Trading cushions Glencore from commodity …

    The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar

    By Silvia Antonioli LONDON (Reuters) - A 15 percent rise in earnings at Glencore's trading division partially offset a hit last year from the slide in commodity prices, leaving the mining company's core profit just two percent lower. Swiss-based Glencore makes about a quarter of its earnings from commodities trading, …

  • LNG exports from Canada a distant prospect, … CBC - Tue, 3 Mar, 2015

    The ship has already sailed in the global race to export liquefied natural gas to Asia, according to U.S. energy economist Kenneth Medlock — and Canada has missed it. … More »LNG exports from Canada a distant prospect, …

    The ship has already sailed in the global race to export liquefied natural gas to Asia, according to U.S. energy economist Kenneth Medlock — and Canada has missed it. Medlock was a keynote speaker at the Canadian Energy Research Institute's annual conference on natural gas. "We don't see any LNG exports from Canada until …

  • China's Vice Finance Minister Zhu Guangyao speaks about the global economy at the Peterson Institute in Washington
    China will keep fiscal policy proactive: … Reuters - Tue, 3 Mar, 2015

    China's vice finance minister Zhu Guangyao said China's fiscal policy will remain proactive going forward, but added that deflationary pressure is not as intense as in … More »China will keep fiscal policy proactive: …

    China's Vice Finance Minister Zhu Guangyao speaks about the global economy at the Peterson Institute in Washington

    China's vice finance minister Zhu Guangyao said China's fiscal policy will remain proactive going forward, but added that deflationary pressure is not as intense as in Europe. The minister made the comments at the opening of the Chinese People's Political Consultative Conference (CPPCC), an advisory body to the country's …

  • A worker is pictured behind a logo at the IBM stand on the CeBIT computer fair in Hanover
    IBM shareholder sues company, alleging … Reuters - Mon, 2 Mar, 2015

    By Jonathan Stempel NEW YORK (Reuters) - IBM Corp was sued on Monday by a shareholder that said it committed securities fraud by failing to write down a money-losing … More »IBM shareholder sues company, alleging …

    A worker is pictured behind a logo at the IBM stand on the CeBIT computer fair in Hanover

    By Jonathan Stempel NEW YORK (Reuters) - IBM Corp was sued on Monday by a shareholder that said it committed securities fraud by failing to write down a money-losing semiconductor unit before agreeing to pay another company $1.5 billion to take that unit off its hands. The lawsuit filed in Manhattan federal court arose …

  • RRSP deadline today for 2014 tax ye … CBC - Mon, 2 Mar, 2015

    Today is the final day to buy a registered retirement savings plan that will be including for the 2014 tax year in Canada. The RRSP is a popular savings vehicle in part … More »RRSP deadline today for 2014 tax ye …

    Today is the final day to buy a registered retirement savings plan that will be including for the 2014 tax year in Canada. The RRSP is a popular savings vehicle in part because the amount of your investment is deducted from your taxable earnings, reducing the amount of tax you pay for the year. David Kaufman, president …

  • Ottawa extends 15% tax credit for mining sector by 1 more year
    Ottawa extends 15% tax credit for mining … CBC - Mon, 2 Mar, 2015

    The federal government says it wants to extend a tax credit for junior mining companies by an extra year, into next year's tax season. At the Prospectors and Developers … More »Ottawa extends 15% tax credit for mining …

    Ottawa extends 15% tax credit for mining sector by 1 more year

    The federal government says it wants to extend a tax credit for junior mining companies by an extra year, into next year's tax season. At the Prospectors and Developers Association of Canada conference in Toronto on Monday, the government said it wants to extend the 15 per cent Mineral Exploration Tax Credit until March …

  • The new European Central Bank (ECB) headquarters is pictured in Frankfurt
    ECB uncomfortable with leading role … Reuters - Mon, 2 Mar, 2015

    With no political appetite for a 'transfer union' that could see wealthier countries subsidize Greece, the central bank figures prominently among the main options for … More »ECB uncomfortable with leading role …

    The new European Central Bank (ECB) headquarters is pictured in Frankfurt

    With no political appetite for a 'transfer union' that could see wealthier countries subsidize Greece, the central bank figures prominently among the main options for staving off an impending funding crunch in Athens. This is awkward for the ECB, an independent central bank desperate to stay out of the political debate …

  • Eurogroup Chairman Dijsselbloem waits to testify before the EU Parliament's Economic and Monetary Affairs Committee in Brussels
    Eurogroup head: Greek reforms could … Reuters - Mon, 2 Mar, 2015

    (Reuters) - Greece's international creditors could pay part of the 7.2 billion euros remaining in its bailout pot as early as this month if Athens starts adopting necessary … More »Eurogroup head: Greek reforms could …

    Eurogroup Chairman Dijsselbloem waits to testify before the EU Parliament's Economic and Monetary Affairs Committee in Brussels

    (Reuters) - Greece's international creditors could pay part of the 7.2 billion euros remaining in its bailout pot as early as this month if Athens starts adopting necessary reforms, the head of the euro zone finance ministers' group said. “My message to the Greeks is: try to start the program even before the whole renegotiation …

  • A man casts his vote during Estonia's parliamentary election in Valga
    Estonia's ruling, pro-NATO center-right … Reuters - Sun, 1 Mar, 2015

    By David Mardiste TALLINN (Reuters) - Estonia's center-right prime minister claimed victory in an election on Sunday, cementing pro-NATO policies after a campaign dominated … More »Estonia's ruling, pro-NATO center-right …

    A man casts his vote during Estonia's parliamentary election in Valga

    By David Mardiste TALLINN (Reuters) - Estonia's center-right prime minister claimed victory in an election on Sunday, cementing pro-NATO policies after a campaign dominated by fears of interference by neighboring Russia following Moscow's annexation of Ukraine's Crimea region. Taavi Roivas' Reform Party won 28 percent, …

  • The logo of Freescale Semiconductor Inc is seen at the entrance of the plant in Toulouse
    Exclusive: NXP nears deal for Freescale … Reuters - Sun, 1 Mar, 2015

    NXP Semiconductors NV is close to a deal to acquire smaller peer Freescale Semiconductor Ltd in a $40 billion cash and stock merger that will reshape the semiconductor … More »Exclusive: NXP nears deal for Freescale …

    The logo of Freescale Semiconductor Inc is seen at the entrance of the plant in Toulouse

    NXP Semiconductors NV is close to a deal to acquire smaller peer Freescale Semiconductor Ltd in a $40 billion cash and stock merger that will reshape the semiconductor industry, according to two people familiar with the matter. Such a deal would represent the clearest sign yet that semiconductor companies are regaining …

  • Berkshire Hathaway CEO Buffett bites into an ice cream during a trade show at the company's annual meeting in Omaha
    Buffett says 'sprawl' is good, … Reuters - Sat, 28 Feb, 2015

    By Jonathan Stempel NEW YORK (Reuters) - Warren Buffett wants to buy more businesses to add to Berkshire Hathaway Inc's "sprawl," but cautioned it may not keep the company … More »Buffett says 'sprawl' is good, …

    Berkshire Hathaway CEO Buffett bites into an ice cream during a trade show at the company's annual meeting in Omaha

    By Jonathan Stempel NEW YORK (Reuters) - Warren Buffett wants to buy more businesses to add to Berkshire Hathaway Inc's "sprawl," but cautioned it may not keep the company he has run for 50 years from evolving into something rarely used to describe it up until now: average. In his annual letter to shareholders, Buffett …

  • TFSA tinkering, high fund feeds and … CBC - Fri, 27 Feb, 2015

    One of our most popular stories this week was this one, by reporter Aaron Saltzman and CBC's Marketplace, telling you about instalment loans, one of the fastest growing … More »TFSA tinkering, high fund feeds and …

    One of our most popular stories this week was this one, by reporter Aaron Saltzman and CBC's Marketplace, telling you about instalment loans, one of the fastest growing sectors of debt in Canada. Functioning a bit like a payday loan, only for more money and a slightly longer term, instalment loans are unsecured high-interest …

  • Man buys a food ticket at a restaurant in Tokyo
    Japan output jumps but consumers unconvinced … Reuters - Fri, 27 Feb, 2015

    By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) - Japanese households cut spending more than expected and retail sales fell for the first time in seven months … More »Japan output jumps but consumers unconvinced …

    Man buys a food ticket at a restaurant in Tokyo

    By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) - Japanese households cut spending more than expected and retail sales fell for the first time in seven months in January, data showed on Friday, a sign the central bank's radical stimulus has yet to convince consumers that inflation will take hold. Factory output …

  • Russian exile, Khodorkovsky delivers a speech in central London
    Russia's Khodorkovsky: Putin is … Reuters - Thu, 26 Feb, 2015

    By Dmitry Zhdannikov LONDON (Reuters) - Former Russian tycoon Mikhail Khodorkovsky said on Thursday Vladimir Putin was a "naked king" presiding over an economy that … More »Russia's Khodorkovsky: Putin is …

    Russian exile, Khodorkovsky delivers a speech in central London

    By Dmitry Zhdannikov LONDON (Reuters) - Former Russian tycoon Mikhail Khodorkovsky said on Thursday Vladimir Putin was a "naked king" presiding over an economy that will weaken further, eventually provoking a battle between rival clans in Moscow. "Putin with bare chest isn't a mighty leader: He is a naked king," Khodorkovsky, …

  • Inflation at 14-month low, but how do … CBC - Thu, 26 Feb, 2015

    Canadians have historically had a hard time squaring the consumer price index with the sense that prices everywhere are inexorably on the rise. Of all the economic indicators … More »Inflation at 14-month low, but how do …

    Canadians have historically had a hard time squaring the consumer price index with the sense that prices everywhere are inexorably on the rise. Of all the economic indicators out there, the CPI is probably the single most pervasive of them all. Canada's inflation rate fell to its lowest in more than a year this January, …

  • Spain's Iberdrola to buy UIL Holdings … Reuters - Thu, 26 Feb, 2015
    The logo of Spanish power company Iberdrola is seen on top of Iberdrola's main office building in Madrid

    By Supriya Kurane and Jose Elías Rodríguez (Reuters) - Spanish utility Iberdrola SA will buy UIL Holdings Corp for about $3 billion to create a new listed power and gas company and expand in the United States, where it hopes to offset falling profits at home. A world leader in wind turbines, Iberdrola joins other European …

  • Weak spending to show Japan consumers … Reuters - Wed, 25 Feb, 2015
    Women carry shopping bags in Dotonbori amusement district of Osaka

    By Leika Kihara TOKYO (Reuters) - Japanese households cut spending further and retail sales fell for the first time in seven months in January, data on Friday is likely to show, a sign the central bank's radical stimulus has yet to convince consumers that inflation will take hold. After limping out of recession in the …