Yen falls on BoJ inaction, focus on US PCE inflation
The Japanese Yen is trading at its weakest level in over three decades against the US Dollar after the Bank of Japan decided to leave monetary policy settings unchanged.
inflation
WTI above $83.50 on disappointing US GDP, Gaza fears
The benchmark US crude oil Western Texas Intermediate (WTI) is trading higher around .60 on Friday due to potential geopolitical risk from a looming Israeli invasion of the southern Gaza city of Rafah.
Eurozone consumers lower inflation expectations again, ECB survey shows
Eurozone consumers lowered their expectation for inflation over the next 12 months in March but continued to see price growth above the European Central Bank’s 2 per cent target. The ECB is planning to cut interest rates in June.
President Biden’s Budget Calls for Raising $4.3 Trillion in Revenues Over Ten Years — Here’s How
The Biden Administration released a budget proposal for the 2025 fiscal year that includes tax proposals generating .3 trillion over the next decade. The most significant proposals include increasing taxes on corporations and high-income taxpayers.
Murphy wants business tax to aid NJ Transit. Business group says use sales tax revenue
NJ Transit’s board approved a fare increase of 15% on July 1 and 3% every year after that.
Who Pays Corporate Taxes? Look in the Mirror
President Biden is calling for Congress to repeal the 2017 tax cuts and increase corporate tax rates, arguing that the benefits primarily go to big corporations and the wealthy. However, data shows that the 2017 tax cuts and regulatory relief under the Trump administration led to significant increases in real median household income, with the lowest income quintile seeing a 9.4% rise in income in 2019. The poverty level also dropped at the fastest rate since 1966.
K-Battery Companies Worried about OECD’s New Global Minimum Tax Policy
The global minimum tax policy imposes a minimum corporate tax of 15 percent on multinational companies with annual global revenue exceeding 1 trillion won.
Cyprus property market continues to be sustained by foreign buyers
Foreign buyers account for four out of ten property sales in Cyprus in the first quarter of 2024.
EDITORIAL: Biden tax plan would pummel average Americans
President Joe Biden’s 2025 budget blueprint includes plans to increase corporate taxes, which could ultimately cost low- and middle-income Americans more money than if their income tax rates were raised. This plan, straight out of the Bernie Sanders handbook, aims to go after corporations but could have negative effects on consumers, employees, and investors. The budget also includes record spending and soaring debt, despite promises not to increase taxes on those earning less than 0,000 a year.
Lloyds Bank eyes house price rally as first-quarter profit drops
Lloyds Banking Group’s pretax profit decreased by 28% in the first quarter due to rising costs, peaking interest rates, and competition in the mortgage market.