Tax News

Fitch downgrades Japan's debt after sales tax hike nixed

The Fitch ratings agency has downgraded Japan's credit after the government failed to go through with a plan to increase sales taxes in its budget. Fitch cut its rating on Japan to A from A+. Standard & Poor's gives Japan an AA- rating, better than the Fitch assessment. Moody's downgraded Japan to A1 status last year.

  • Greek Finance Minister Varoufakis delivers a speech during a banking conference in Athens
    Euro zone warns Greece no cash till … Reuters - Fri, 24 Apr, 2015

    By Robin Emmott and Ingrid Melander RIGA (Reuters) - Euro zone finance ministers warned Greece on Friday that its leftist government will get no more aid until it agrees … More »Euro zone warns Greece no cash till …

    Greek Finance Minister Varoufakis delivers a speech during a banking conference in Athens

    By Robin Emmott and Ingrid Melander RIGA (Reuters) - Euro zone finance ministers warned Greece on Friday that its leftist government will get no more aid until it agrees a complete economic reform plan, as Athens lurches closer to bankruptcy. Greek Finance Minister Yanis Varoufakis faced a harsh morning in which euro …

  • FedBudget 20150421
    TFSA limit change takes effect immediately, … CBC - Fri, 24 Apr, 2015

    Canadians don't need to wait for the budget to be passed before taking advantage of the TFSA changes announced in it, officials at the Canada Revenue Agency and Finance … More »TFSA limit change takes effect immediately, …

    FedBudget 20150421

    Canadians don't need to wait for the budget to be passed before taking advantage of the TFSA changes announced in it, officials at the Canada Revenue Agency and Finance Department said Friday.

  • People walk past an American Airlines logo at John F. Kennedy (JFK) airport in in New York
    American Airlines plans capacity cuts, … Reuters - Fri, 24 Apr, 2015

    American Airlines Group Inc on Friday reported first-quarter profit above analysts' expectations and pleased investors with capacity cuts to match weakening international … More »American Airlines plans capacity cuts, …

    People walk past an American Airlines logo at John F. Kennedy (JFK) airport in in New York

    American Airlines Group Inc on Friday reported first-quarter profit above analysts' expectations and pleased investors with capacity cuts to match weakening international demand. It earned $1.73 per diluted share excluding special items, compared with analysts' average estimate of $1.71, according to Thomson Reuters I/B/E/S. …

  • HSBC considers moving headquarters out … CBC - Fri, 24 Apr, 2015

    HSBC has launched a review of whether it should move its headquarters out of Britain, citing regulatory and structural reforms in the wake of the financial crisis. Formed … More »HSBC considers moving headquarters out …

    HSBC has launched a review of whether it should move its headquarters out of Britain, citing regulatory and structural reforms in the wake of the financial crisis. Formed in Asia as Hong Kong Shanghai Bank, HSBC is currently Europe's biggest bank with holdings around the world.

  • A man looks at job information at an employment fair beside a street in Zhengzhou
    China says employment resilient despite … Reuters - Fri, 24 Apr, 2015

    By Kevin Yao BEIJING (Reuters) - China said on Friday that urban employment held up in the first quarter even as economic growth slowed to a 6-year low, but the labor … More »China says employment resilient despite …

    A man looks at job information at an employment fair beside a street in Zhengzhou

    By Kevin Yao BEIJING (Reuters) - China said on Friday that urban employment held up in the first quarter even as economic growth slowed to a 6-year low, but the labor ministry warned that authorities cannot be "blindly optimistic" as the pace of job creation is slowing. The urban unemployment rate was at 4.05 percent …

  • Ontario pledges smaller deficits; labor … Reuters - Thu, 23 Apr, 2015

    By Andrea Hopkins TORONTO (Reuters) - Ontario’s Liberal government trimmed its budget deficit forecasts for the next two years on Thursday as it unveiled a budget that … More »Ontario pledges smaller deficits; labor …

    By Andrea Hopkins TORONTO (Reuters) - Ontario’s Liberal government trimmed its budget deficit forecasts for the next two years on Thursday as it unveiled a budget that seeks cost cuts in education and healthcare, a move toward austerity that could spark labor unrest across the province. Ontario, Canada’s most populous …

  • File photo of General Motors logo outside its headquarters at the Renaissance Center in Detroit
    GM first-quarter profit misses estimates … Reuters - Thu, 23 Apr, 2015

    By Ben Klayman and Bernie Woodall DETROIT (Reuters) - General Motors posted a smaller-than-expected quarterly profit on Thursday on weakness in South America and Russia … More »GM first-quarter profit misses estimates …

    File photo of General Motors logo outside its headquarters at the Renaissance Center in Detroit

    By Ben Klayman and Bernie Woodall DETROIT (Reuters) - General Motors posted a smaller-than-expected quarterly profit on Thursday on weakness in South America and Russia and a higher tax rate, sending shares down 3.5 percent. "Clearly the macro environment in South America, and it's primarily Brazil, deteriorated versus …

  • Former AgustaWestland managers investigated … Reuters - Thu, 23 Apr, 2015

    Italian tax police carried out searches in several cities on Thursday relating to allegations of corruption by former managers of Finmeccanica unit AgustaWestland over … More »Former AgustaWestland managers investigated …

    Italian tax police carried out searches in several cities on Thursday relating to allegations of corruption by former managers of Finmeccanica unit AgustaWestland over a helicopter contract in Algeria, Italian prosecutors said. The new investigation comes as Finmeccanica's CEO Mauro Moretti, appointed last year, seeks …

  • Luxembourg charges French journalist … Reuters - Thu, 23 Apr, 2015

    A Luxembourg court has charged a French journalist with aiding the leaking of confidential information at accounting firm PWC, which led to the disclosures about custom … More »Luxembourg charges French journalist …

    A Luxembourg court has charged a French journalist with aiding the leaking of confidential information at accounting firm PWC, which led to the disclosures about custom made tax deals for large corporations known as LuxLeaks. The Luxembourg court's decision comes after two former employees of PWC were charged with theft, …

  • Canada's truthiest election campaign … CBC - Thu, 23 Apr, 2015

    The Harper Conservatives are the balanced-budget party. You might as well get that into your head now, because you are going to be hearing it repeated till election … More »Canada's truthiest election campaign …

    The Harper Conservatives are the balanced-budget party. You might as well get that into your head now, because you are going to be hearing it repeated till election day. Yesterday, Finance Minister Joe Oliver even implied they were the fight-against-climate-change party. An independent analyst might dispute those statements. In …

  • To match Analysis PUERTORICO-DEBT/
    Puerto Rico officials warn government … Reuters - Thu, 23 Apr, 2015

    Puerto Rico's top finance officials said the government of the U.S. territory will likely shutdown in three months because of a looming liquidity crisis and warned of … More »Puerto Rico officials warn government …

    To match Analysis PUERTORICO-DEBT/

    Puerto Rico's top finance officials said the government of the U.S. territory will likely shutdown in three months because of a looming liquidity crisis and warned of a devastating impact on the island's economy.

  • Arris to buy British set-top box maker … Reuters - Wed, 22 Apr, 2015

    Network gear maker Arris Group Inc said it would buy British set-top box maker Pace Plc in a $2.1 billion cash-and-stock deal to expand its operations outside North America. … More »Arris to buy British set-top box maker …

    Network gear maker Arris Group Inc said it would buy British set-top box maker Pace Plc in a $2.1 billion cash-and-stock deal to expand its operations outside North America. The deal, which involves the creation of a new company that will be incorporated in the UK, will help Arris reduce corporate taxes. Arris said the …

  • A man walks past an old Toronto Stock Exchange sign in Toronto
    Gold mining shares decline, soft financials … Reuters - Wed, 22 Apr, 2015

    By Solarina Ho TORONTO (Reuters) - Canada's main stock index slipped on Wednesday, driven by steep declines among gold miners and a retreat among heavily-weighted … More »Gold mining shares decline, soft financials …

    A man walks past an old Toronto Stock Exchange sign in Toronto

    By Solarina Ho TORONTO (Reuters) - Canada's main stock index slipped on Wednesday, driven by steep declines among gold miners and a retreat among heavily-weighted banks. Modest gains among energy names offset some of the losses despite volatile trade in crude oil. Concern over the Greek debt crisis sparked general investor …

  • Canada's PM Harper and Finance Minister Oliver walk to the House of Commons to deliver the federal budget in Ottawa
    Populist Conservative budget puts Canada's … Reuters - Wed, 22 Apr, 2015

    By Leah Schnurr and Randall Palmer OTTAWA (Reuters) - Canadian Prime Minister Stephen Harper, facing a battle to win reelection to a rare fourth term in October, has … More »Populist Conservative budget puts Canada's …

    Canada's PM Harper and Finance Minister Oliver walk to the House of Commons to deliver the federal budget in Ottawa

    By Leah Schnurr and Randall Palmer OTTAWA (Reuters) - Canadian Prime Minister Stephen Harper, facing a battle to win reelection to a rare fourth term in October, has boosted his chances with a populist budget expected to energize his base. The tax breaks in the budget the Conservative government delivered on Tuesday, …

  • Prime Minister Stephen Harper (left) stands with Finance Minister Joe Oliver as he arrives to table the budget on Parliament Hill in Ottawa on Tuesday, April 21, 2015. THE CANADIAN PRESS/Justin Tang
    TFSA changes a problem for 'Stephen … CBC - Wed, 22 Apr, 2015

    On Tuesday's The Exchange with Amanda Lang on CBC News Network, the finance minister told Lang that criticism of his recently unveiled budget is unfounded, arguing that … More »TFSA changes a problem for 'Stephen …

    Prime Minister Stephen Harper (left) stands with Finance Minister Joe Oliver as he arrives to table the budget on Parliament Hill in Ottawa on Tuesday, April 21, 2015. THE CANADIAN PRESS/Justin Tang

    On Tuesday's The Exchange with Amanda Lang on CBC News Network, the finance minister told Lang that criticism of his recently unveiled budget is unfounded, arguing that the benefits for Canadians today more than offset any future revenue problems associated with it that may or may not ever come to pass. The Parliamentary …

  • How the 'Godfather' of Lagos … Reuters - Wed, 22 Apr, 2015
    Former governor of Lagos state Bola Ahmed Tinubu speaks to electoral officials before voting in governorship elections in Lagos

    I put talents in office, I help them," says former Lagos state governor and opposition alliance leader Bola Tinubu, being quite open about his role as one of Nigeria's most powerful political godfathers. "I use the best hand, the best brain, the best experience for the job," he told Reuters after voting this month in a …

  • Conservatives eke out election year … The Canadian Press - Tue, 21 Apr, 2015
    Canada's PM Harper and Finance Minister Oliver walk to the House of Commons to deliver the federal budget in Ottawa

    Finance Minister Joe Oliver guided his maiden budget voyage into port with a precious cargo of targeted pre-election measures on board — and just enough leeway to keep the federal books above water.