Tax News

China's great fall, loonie's swan dive & some mushy math on taxes: BUSINESS WEEK WRAP

China dominated the business headlines this week, as the world's second-largest economy took investors on a white-knuckle ride on equity markets. Slowing growth, or fears that China's booming economy is slowing down enough to hurt just about every nation on earth that exports there. The word on the lips of traders was "volatility" as investors realized few people know the true health of China's …

  • Oil-price plunge could cost Ontario billions in equalization
    Oil-price plunge could cost Ontario … CBC - Thu, 27 Aug, 2015

    Western Canada's oil price nightmare could have a significant financial impact on provinces with little or no oil wealth, a University of Alberta economics professor … More »Oil-price plunge could cost Ontario …

    Oil-price plunge could cost Ontario billions in equalization

    Western Canada's oil price nightmare could have a significant financial impact on provinces with little or no oil wealth, a University of Alberta economics professor says. Such a shift in the country's largest province would create a ripple effect for the remaining have-not provinces, which would become eligible for a …

  • Alberta in recession this year, ATB's Todd Hirsch says
    Alberta in recession this year, ATB's … CBC - Wed, 26 Aug, 2015

    Alberta's most optimistic economist has capitulated. Todd Hirsch, chief economist with provincially owned ATB Financial, says Alberta is in a mild recession this … More »Alberta in recession this year, ATB's …

    Alberta in recession this year, ATB's Todd Hirsch says

    Alberta's most optimistic economist has capitulated. Todd Hirsch, chief economist with provincially owned ATB Financial, says Alberta is in a mild recession this year.

  • Canada's Liberal leader Justin Trudeau speaks during the Maclean's National Leaders debate in Toronto
    Trailing in polls, Canada opposition … Reuters - Wed, 26 Aug, 2015

    By David Ljunggren OTTAWA (Reuters) - Canada's once-popular opposition Liberals, who are trailing in third place ahead of an Oct 19 election, shifted their fire to the … More »Trailing in polls, Canada opposition …

    Canada's Liberal leader Justin Trudeau speaks during the Maclean's National Leaders debate in Toronto

    By David Ljunggren OTTAWA (Reuters) - Canada's once-popular opposition Liberals, who are trailing in third place ahead of an Oct 19 election, shifted their fire to the first-place New Democratic Party on Wednesday as the two center-left rivals battle to defeat the ruling Conservatives. Liberal leader Justin Trudeau said …

  • A man takes a selfie at Las Ramblas in Barcelona
    Barcelona mayor's tourism crackdown … Reuters - Wed, 26 Aug, 2015

    By Adrian Croft BARCELONA (Reuters) - Barcelona's new mayor is picking a fight with home rental websites as she tries to crack down on uncontrolled tourism that she … More »Barcelona mayor's tourism crackdown …

    A man takes a selfie at Las Ramblas in Barcelona

    By Adrian Croft BARCELONA (Reuters) - Barcelona's new mayor is picking a fight with home rental websites as she tries to crack down on uncontrolled tourism that she fears could drive out poor residents and spoil the Catalan capital's charm. Ada Colau is threatening to fine firms like Airbnb and Booking.com if they market …

  • Oilpatch pain will continue, say 3 wise … CBC - Tue, 25 Aug, 2015

    As the days begin to cool off, and people return to work after their summer holidays, the energy sector has to figure out how to survive with oil at a level where few … More »Oilpatch pain will continue, say 3 wise …

    As the days begin to cool off, and people return to work after their summer holidays, the energy sector has to figure out how to survive with oil at a level where few companies can turn a profit. "I think things have changed substantially," said Jim Gray, who got his first job in the oilpatch in 1956 and went on to found …

  • Uber, Airbnb here to stay so get rules … CBC - Tue, 25 Aug, 2015

    The Ontario Chamber of Commerce is urging the province and the federal government to get legislation in place to handle the sharing economy and head off conflict over … More »Uber, Airbnb here to stay so get rules …

    The Ontario Chamber of Commerce is urging the province and the federal government to get legislation in place to handle the sharing economy and head off conflict over services such as Uber and Airbnb. Chamber of Commerce CEO Allan O'Dette hailed the economic opportunity presented by ride-sharing services such as Uber, …

  • Greek Prime Minister Tsipras is received by Greece's President Pavlopoulios in Athens
    Tsipras resigns, paving way for snap … Reuters - Fri, 21 Aug, 2015

    By Renee Maltezou and Michele Kambas ATHENS (Reuters) - Prime Minister Alexis Tsipras resigned on Thursday, hoping to strengthen his hold on power in snap elections … More »Tsipras resigns, paving way for snap …

    Greek Prime Minister Tsipras is received by Greece's President Pavlopoulios in Athens

    By Renee Maltezou and Michele Kambas ATHENS (Reuters) - Prime Minister Alexis Tsipras resigned on Thursday, hoping to strengthen his hold on power in snap elections after seven months in office in which he fought Greece's creditors for a better bailout deal but had to cave in. Tsipras submitted his resignation to President …

  • Former president of Park Avenue Bank, Antonucci, leaves the U.S. Court after being sentenced in New York
    Ex-head of New York bank sentenced to … Reuters - Thu, 20 Aug, 2015

    By Nate Raymond NEW YORK (Reuters) - A former president of a failed New York bank was sentenced to 2-1/2 years in prison on Thursday after becoming the first person … More »Ex-head of New York bank sentenced to …

    Former president of Park Avenue Bank, Antonucci, leaves the U.S. Court after being sentenced in New York

    By Nate Raymond NEW YORK (Reuters) - A former president of a failed New York bank was sentenced to 2-1/2 years in prison on Thursday after becoming the first person to be convicted for trying to defraud the U.S. government bailout program established during the financial crisis. Charles Antonucci, Park Avenue Bank's former …

  • Tsipras calls Greek election for Sept. … CBC - Thu, 20 Aug, 2015

    Greek Prime Minister Alexis Tsipras has called an election for Sept. 20, saying he'll seek to remain in the job. Officials with the Greek government say the aim is to … More »Tsipras calls Greek election for Sept. …

    Greek Prime Minister Alexis Tsipras has called an election for Sept. 20, saying he'll seek to remain in the job. Officials with the Greek government say the aim is to hold the vote on Sept 20. "I will seek the vote of Greek people to rule and continue our government programs," he said.

  • Rousseff speaks during the closing ceremony of the "March of the Daisies" at the Mane Garrincha Stadium in Brasilia
    Brazil Senate passes austerity bill … Reuters - Wed, 19 Aug, 2015

    BRASILIA (Reuters) - Brazil's Senate approved a bill to roll back payroll tax breaks on Wednesday that is a key measure in President Dilma Rousseff's efforts … More »Brazil Senate passes austerity bill …

    Rousseff speaks during the closing ceremony of the "March of the Daisies" at the Mane Garrincha Stadium in Brasilia

    BRASILIA (Reuters) - Brazil's Senate approved a bill to roll back payroll tax breaks on Wednesday that is a key measure in President Dilma Rousseff's efforts to reduce a gaping fiscal deficit and restore confidence in her government's accounts. The Senate voted 45-27 to pass the bill. It was received from the …

  • Rousseff waves during a meeting with governors at Alvorada Palace in Brasilia
    Brazil's Rousseff suffers fiscal … Reuters - Tue, 18 Aug, 2015

    By Anthony Boadle BRASILIA (Reuters) - Brazil's Senate put off a vote on a key austerity bill on Tuesday and the lower house of Congress voted to increase the cost of … More »Brazil's Rousseff suffers fiscal …

    Rousseff waves during a meeting with governors at Alvorada Palace in Brasilia

    By Anthony Boadle BRASILIA (Reuters) - Brazil's Senate put off a vote on a key austerity bill on Tuesday and the lower house of Congress voted to increase the cost of a workers severance fund, two setbacks for President Dilma Rousseff's efforts to fight a gaping fiscal deficit. A bill rolling back payroll tax breaks was …

  • Greek Prime Minister Alexis Tsipras talks with Energy Minister Panos Skourletis during a parliamentary session in Athens, Greece
    Tsipras likely to call confidence vote … Reuters - Mon, 17 Aug, 2015

    By George Georgiopoulos and David Stamp ATHENS (Reuters) - The Greek government appears likely to call a confidence vote, following a rebellion among lawmakers from … More »Tsipras likely to call confidence vote …

    Greek Prime Minister Alexis Tsipras talks with Energy Minister Panos Skourletis during a parliamentary session in Athens, Greece

    By George Georgiopoulos and David Stamp ATHENS (Reuters) - The Greek government appears likely to call a confidence vote, following a rebellion among lawmakers from the ruling Syriza party over the country's new bailout deal, senior ministers said on Monday. Energy Minister Panos Skourletis described such a parliamentary …

  • Workers stand at a construction site in central Tokyo
    Japan economy shrinks in second quarter … Reuters - Sun, 16 Aug, 2015

    By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) - Japan's economy shrank at an annualized pace of 1.6 percent in April-June as exports slumped and consumers cut … More »Japan economy shrinks in second quarter …

    Workers stand at a construction site in central Tokyo

    By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) - Japan's economy shrank at an annualized pace of 1.6 percent in April-June as exports slumped and consumers cut back spending, adding pressure on Prime Minister Shinzo Abe to step up his policy drive to lift the economy out of decades of deflation. China's economic …

  • Indian PM Modi folds his hands in a traditional Indian greeting after addressing the nation from the historic Red Fort during Independence Day celebrations in Delhi
    Modi says pro-poor, stays quiet on big … Reuters - Sat, 15 Aug, 2015

    By Rupam Jain Nair and Frank Jack Daniel NEW DELHI (Reuters) - Indian Prime Minister Narendra Modi on Saturday sought to shed an image that he governs for big business, … More »Modi says pro-poor, stays quiet on big …

    Indian PM Modi folds his hands in a traditional Indian greeting after addressing the nation from the historic Red Fort during Independence Day celebrations in Delhi

    By Rupam Jain Nair and Frank Jack Daniel NEW DELHI (Reuters) - Indian Prime Minister Narendra Modi on Saturday sought to shed an image that he governs for big business, vowing to help the poor and create jobs in a speech aimed at bolstering popularity rather than tackling setbacks to economic reform plans. Modi took office …

  • Greek Finance Minister Tsakalotos listens to his French counterpart Sapin during a euro zone finance ministers meeting in Brussels
    Euro ministers give blessing to Greek … Reuters - Sat, 15 Aug, 2015

    By Alastair Macdonald and Lefteris Papadimas BRUSSELS/ATHENS (Reuters) - Euro zone finance ministers have agreed to lend Greece up to 86 billion euros ($96 billion) … More »Euro ministers give blessing to Greek …

    Greek Finance Minister Tsakalotos listens to his French counterpart Sapin during a euro zone finance ministers meeting in Brussels

    By Alastair Macdonald and Lefteris Papadimas BRUSSELS/ATHENS (Reuters) - Euro zone finance ministers have agreed to lend Greece up to 86 billion euros ($96 billion) after Greek lawmakers accepted their stiff conditions despite a revolt by supporters of leftist Prime Minister Alexis Tsipras. Assuming approval by the German …

  • Google's new Alphabet, currency … CBC - Fri, 14 Aug, 2015

    The biggest business news story of the week came out late Monday, when Silicon Valley-based search giant Google announced it would convert itself into a new corporate structure under a parent company called Alphabet Inc. The tantalizingly named Google X division is where Google keeps what it calls its moonshots — self-driving …

  • Greek Finance Minister Euclid Tsakalotos delivers his speech during a night parliamentary session in Athens

    By Lefteris Papadimas and Michele Kambas ATHENS (Reuters) - Greek lawmakers bickered through the night over a new bailout deal to keep the country afloat, only hours before euro zone finance ministers are due to decide on Friday whether to approve the vital aid for Athens. With the ruling Syriza party apparently heading …

 
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