Tax News

The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in the Manhattan borough of New York City

Morgan Stanley posts highest profit since financial crisis

By Anil D'Silva and Avik Das (Reuters) - Wall Street investment bank Morgan Stanley reported its most profitable quarter since the financial crisis on Monday, boosted by higher revenue from trading bonds and equities. The bank's trading business, like those of its main rivals, got a boost in the quarter after the Swiss central bank scrapped a cap on the franc, the European Central Bank announced…

  • Adios, Corolla & Poloz stands pat: BUSINESS … CBC - Fri, 17 Apr, 2015

    One of the biggest news stories this week was word on Wednesday that Toyota would be moving its Corolla production from plants in Ontario to a new one in Mexico. "It's … More »Adios, Corolla & Poloz stands pat: BUSINESS …

    One of the biggest news stories this week was word on Wednesday that Toyota would be moving its Corolla production from plants in Ontario to a new one in Mexico. "It's a terrible day for the team members of Toyota," Unifor president Jerry Dias said.

  • Ontario Finance Minister sees pension … Reuters - Fri, 17 Apr, 2015

    By Andrea Hopkins TORONTO (Reuters) - Ontario Finance Minister Charles Sousa said on Friday he expects all of Canada's major pension funds to be interested in a stake … More »Ontario Finance Minister sees pension …

    By Andrea Hopkins TORONTO (Reuters) - Ontario Finance Minister Charles Sousa said on Friday he expects all of Canada's major pension funds to be interested in a stake of Hydro One as the province prepares to sell off 60 percent of the provincial electricity transmission utility. "It's going to be one of the largest companies …

  • Brazil's Olympic host Rio has phones … Reuters - Fri, 17 Apr, 2015

    By Stephen Eisenhammer and Brad Haynes RIO DE JANEIRO/SAO PAULO (Reuters) - The state government of Rio de Janeiro, which is feverishly preparing for next year's Olympic … More »Brazil's Olympic host Rio has phones …

    By Stephen Eisenhammer and Brad Haynes RIO DE JANEIRO/SAO PAULO (Reuters) - The state government of Rio de Janeiro, which is feverishly preparing for next year's Olympic Games, has failed to pay its phone and Internet bills, triggering a cutoff in service, the phone company responsible said on Friday. Brazilian telecoms …

  • Former IMF chief Rodrigo Rato leaves his Madrid office following a search by tax inspectors
    Spanish government seeks distance from … Reuters - Fri, 17 Apr, 2015

    Spain's government on Friday sought to distance itself from a money-laundering investigation into a former heavyweight of the ruling People's Party (PP), Rodrigo Rato, … More »Spanish government seeks distance from …

    Former IMF chief Rodrigo Rato leaves his Madrid office following a search by tax inspectors

    Spain's government on Friday sought to distance itself from a money-laundering investigation into a former heavyweight of the ruling People's Party (PP), Rodrigo Rato, in an election year in which corruption has become a major theme. Customs agents searched the home and office of the former economy minister on Thursday. …

  • India's PM Modi addresses supporters while visiting the Laxmi Narayan Temple in Surrey
    India's Modi courts Canadian banks, … Reuters - Thu, 16 Apr, 2015

    By John Tilak and Euan Rocha TORONTO (Reuters) - Top executives at Canada's largest banks, insurers and pension funds sounded a bullish over investing in India after … More »India's Modi courts Canadian banks, …

    India's PM Modi addresses supporters while visiting the Laxmi Narayan Temple in Surrey

    By John Tilak and Euan Rocha TORONTO (Reuters) - Top executives at Canada's largest banks, insurers and pension funds sounded a bullish over investing in India after meeting Prime Minister Narendra Modi, who is making the first bilateral visit to Canada by an Indian premier for 42 years. Modi held a roundtable with the …

  • A Citibank ATM is seen in Los Angeles
    Citi posts highest quarterly profit … Reuters - Thu, 16 Apr, 2015

    By David Henry and Anil D'Silva (Reuters) - Citigroup Inc reported its highest quarterly profit in nearly eight years as costs plunged, showing that the bank's efforts … More »Citi posts highest quarterly profit …

    A Citibank ATM is seen in Los Angeles

    By David Henry and Anil D'Silva (Reuters) - Citigroup Inc reported its highest quarterly profit in nearly eight years as costs plunged, showing that the bank's efforts to streamline its business may be starting to pay off. Citi has been slowly getting its house in order by cutting costs and shedding assets that are not …

  • Rato, former People's Party minister and former managing director of the International Monetary Fund, is lead by police as they leave his residence after an inspection in Madrid
    Ex-IMF head Rato in preliminary corruption … Reuters - Thu, 16 Apr, 2015

    By Emma Pinedo and Elisabeth O'Leary MADRID (Reuters) - The home and office of former International Monetary Fund chief Rodrigo Rato were searched on Thursday as part … More »Ex-IMF head Rato in preliminary corruption …

    Rato, former People's Party minister and former managing director of the International Monetary Fund, is lead by police as they leave his residence after an inspection in Madrid

    By Emma Pinedo and Elisabeth O'Leary MADRID (Reuters) - The home and office of former International Monetary Fund chief Rodrigo Rato were searched on Thursday as part of a tax and money laundering investigation into his personal wealth, Spanish judicial officials said. Earlier, cameras showed Rato, a former Spanish economy …

  • A general view of the OPEC building in Vienna
    OPEC diplomacy up from Moscow to Caracas; … Reuters - Wed, 15 Apr, 2015

    By Denis Pinchuk and Alexandra Ulmer MOSCOW/CARACAS (Reuters) - Quiet diplomacy among the world's biggest oil producers has heated up this week, yet observers see few … More »OPEC diplomacy up from Moscow to Caracas; …

    A general view of the OPEC building in Vienna

    By Denis Pinchuk and Alexandra Ulmer MOSCOW/CARACAS (Reuters) - Quiet diplomacy among the world's biggest oil producers has heated up this week, yet observers see few signs that renewed discussion among Russia, Saudi Arabia, Venezuela and others will lead to action on output. On Wednesday, Russia's Deputy Prime Minister …

  • Liu, CEO and founder of JD.com, gestures before ringing the opening bell at the NASDAQ Market Site building in New York
    China's JD.com sets up cross-border … Reuters - Wed, 15 Apr, 2015

    By Paul Carsten BEIJING (Reuters) - JD.com Inc, China's No. 2 e-commerce player, on Wednesday launched its JD Worldwide cross-border online shopping platform, a challenger … More »China's JD.com sets up cross-border …

    Liu, CEO and founder of JD.com, gestures before ringing the opening bell at the NASDAQ Market Site building in New York

    By Paul Carsten BEIJING (Reuters) - JD.com Inc, China's No. 2 e-commerce player, on Wednesday launched its JD Worldwide cross-border online shopping platform, a challenger to Alibaba Group Holding Ltd's Tmall Global service. JD Worldwide will allow Chinese shoppers to buy imports from U.S. firms such as Nike Inc, Starbucks …

  • Canada's Finance Minister Joe Oliver meets with private sector economists in Ottawa
    C.D. Howe Institute to Ottawa: Staying … The Canadian Press - Tue, 14 Apr, 2015

    TORONTO - The C.D. Howe Institute says "staying in the black" should be the first priority when the Harper government tables what it has promised will be a … More »C.D. Howe Institute to Ottawa: Staying …

    Canada's Finance Minister Joe Oliver meets with private sector economists in Ottawa

    TORONTO - The C.D. Howe Institute says "staying in the black" should be the first priority when the Harper government tables what it has promised will be a balanced budget on April 21.

  • Buenos Aires' province governor Scioli gestures during a ceremony at the Casa Rosada Presidential Palace in Buenos Aires
    Argentina's Scioli walks tightrope … Reuters - Tue, 14 Apr, 2015

    By Richard Lough and Nicolás Misculin LANUS, Argentina (Reuters) - Daniel Scioli, the front-running candidate for the ruling party ticket in Argentina's presidential … More »Argentina's Scioli walks tightrope …

    Buenos Aires' province governor Scioli gestures during a ceremony at the Casa Rosada Presidential Palace in Buenos Aires

    By Richard Lough and Nicolás Misculin LANUS, Argentina (Reuters) - Daniel Scioli, the front-running candidate for the ruling party ticket in Argentina's presidential election, has a new buzz word: "gradualismo", or "gradual change". Instead it illustrates the tightrope act he needs to pull off as he tries to win the support …

  • A BP logo is reflected in a car window at a petrol station in London
    Oil companies’ profits hit by quest … Reuters - Mon, 13 Apr, 2015

    By Tom Bergin LONDON (Reuters) - The drop in big oil companies' profits in the past eight months isn't just a function of lower crude prices – it also reflects strategic … More »Oil companies’ profits hit by quest …

    A BP logo is reflected in a car window at a petrol station in London

    By Tom Bergin LONDON (Reuters) - The drop in big oil companies' profits in the past eight months isn't just a function of lower crude prices – it also reflects strategic choices. A Reuters examination of corporate filings by some of the biggest players in the industry, including BP, Shell and France's Total, shows the …

  • The HSBC bank logo is pictured at the bank headquarters in Paris
    Ricci perfumes heiress found guilty … Reuters - Mon, 13 Apr, 2015

    A Paris court on Monday found the heiress of the Nina Ricci perfume and fashion business guilty of tax fraud in a high-profile trial prompted by leaked lists of people … More »Ricci perfumes heiress found guilty …

    The HSBC bank logo is pictured at the bank headquarters in Paris

    A Paris court on Monday found the heiress of the Nina Ricci perfume and fashion business guilty of tax fraud in a high-profile trial prompted by leaked lists of people who used the services of HSBC bank in Switzerland. Arlette Ricci, 73-year-old granddaughter of Nina Ricci, was sentenced to three years in jail, including …

  • Policemen escort Satyam founder Raju after he was released from a jail in Hyderabad
    India's Satyam founder sentenced … Reuters - Mon, 13 Apr, 2015

    By Nivedita Bhattacharjee MUMBAI (Reuters) - The founder of Satyam Computer Services, once India's fourth-largest software services firm, was sentenced to seven years … More »India's Satyam founder sentenced …

    Policemen escort Satyam founder Raju after he was released from a jail in Hyderabad

    By Nivedita Bhattacharjee MUMBAI (Reuters) - The founder of Satyam Computer Services, once India's fourth-largest software services firm, was sentenced to seven years in prison after being found guilty in an accounting fraud case that ranks as the country's biggest. A court in the southern Indian city of Hyderabad, where …

  • Advertisement board displays an iPhone 6 at Paulista avenue in Sao Paulo
    Brazil's iPhone investment falls … Reuters - Mon, 13 Apr, 2015

    By Brad Haynes ITU, Brazil (Reuters) - The Brazilian iPhone was meant to mark a new era. When Taiwan's Foxconn Technology Group agreed in April 2011 to make Apple products … More »Brazil's iPhone investment falls …

    Advertisement board displays an iPhone 6 at Paulista avenue in Sao Paulo

    By Brad Haynes ITU, Brazil (Reuters) - The Brazilian iPhone was meant to mark a new era. When Taiwan's Foxconn Technology Group agreed in April 2011 to make Apple products here, President Dilma Rousseff and her advisers promised that up to $12 billion in investments over six years would transform the Brazilian technology …

  • Without a doubt, the most popular story we brought you this week was this one, based on a report from mortgage insurer Genworth on Monday, that shows as many as one in three first time homebuyers in Canada are getting help from their parents to come up with a down payment. Parents helping their kids to buy a home may not …

  • The General Electric logo is seen in a Sears store in Schaumburg

    General Electric Co will shed most of its finance unit and return as much as $90 billion to shareholders as it becomes a “simpler” industrial business instead of an unwieldy hybrid of banking and manufacturing. The company on Friday outlined a restructuring plan that includes buying back up to $50 billion of its shares, …