German wholesale prices fall 1.6% in September
(Reuters) - German wholesale prices fell by 1.6% in September compared with the same month last year, according to data released by the federal statistics office on Tuesday. The...
(Reuters) - German wholesale prices fell by 1.6% in September compared with the same month last year, according to data released by the federal statistics office on Tuesday. The...
US stocks are mixed at Tuesday's market open, with the Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) slightly above their flatlines while the Dow Jones Industrial Average (^DJI) edges deeper into negative territory. Morning Brief anchor Seana Smith surveys the market action following the opening bell, examining crude oil (CL=F, BZ=F) trends and the financial sector (XLF) after Bank of America (BAC), Goldman Sachs (GS), and Citigroup (C) posted third quarter earnings results this morning. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Luke Carberry Mogan.
According to BlockBeats, on October 15, the Argentine judiciary has officially recognized the legal validity of blockchain-based smart contracts for the first time. This landmark decision grants legal enforceability to smart contracts in Argentina, paving the way for their application in various commercial fields such as lease agreements and purchase payments.The first legally recognized smart contract is a loan agreement built on the Cardano blockchain. This contract was established by two Argentine Cardano ambassadors, Mauro Andreoli and Lucas Macchia, involving a four-month loan of 10,000 ADA (approximately $3,430) with an annual interest rate of 10%. Andreoli stated, "We have just signed the first legally and judicially binding contract on the Cardano network that fully complies with the laws of the Argentine Republic." He emphasized that any breach of this contract could be enforced in court, requiring obligations to be fulfilled in ADA.To ensure the legal validity of the smart contract, both parties also signed a supplementary legal document detailing the contract's content, the blockchain used, and the transaction IDs of the relevant wallet addresses. This approach may set a standard process for the future legalization of smart contracts.
The UK could raise £500m per year in foregone capital gains tax with new laws.
-- Most Asian currencies weakened on Tuesday, while the dollar steadied at an over two-month high amid persistent bets that the Federal Reserve will cut interest rates...
Investors are growing increasingly bullish about the outlook for stocks as the Federal Reserve cuts interest rates. But are investors a little too bullish?
We recently compiled a list of the Jim Cramer’s Exclusive List of 9 YEV Stocks. In this article, we are going to take a look at where Dow Inc. (NYSE:DOW) stands against the other YEV stocks in Jim Cramer’s exclusive list. Recently, Jim Cramer sifted through the S&P 500 to identify stocks that satisfy his criteria: […]
According to Foresight News, Bloomberg reports that China has initiated the taxation of overseas investment gains for its super-rich citizens. In recent months, wealthy individuals in major Chinese cities have been asked to self-assess or have been summoned by tax authorities to evaluate potential tax liabilities, including unpaid amounts from previous years. Sources indicate that these individuals could face an investment gains tax of up to 20%, with some also potentially facing penalties for late payments. The final amounts, however, are negotiable.China's tax enforcement measures follow the implementation of the Common Reporting Standard (CRS) in 2018, a global information-sharing system aimed at preventing tax evasion. Although local regulations have long stipulated that residents are subject to taxes on global income, including investment gains, enforcement has only recently intensified.
According to Foresight News, the U.S. Financial Crimes Enforcement Network (FinCEN) has accused banking giant TD Bank of failing to report suspicious activities from an anonymous group of international cryptocurrency traders. FinCEN revealed that TD Bank processed over 2,000 transactions within nine months for a company named 'Customer Group C,' which operates in the sales financing and real estate sectors. Customer Group C had misrepresented its expected international wire transfer activities to TD Bank, claiming its annual sales would not exceed $1 million. In reality, Customer Group C allegedly conducted transactions exceeding $1 billion through TD Bank. The funds originated from a UK-based cryptocurrency exchange, with 60% of the money sent to Colombian financial institutions providing digital asset-related services. TD Bank did not report this suspicious activity until multiple law enforcement inquiries were made regarding Customer Group C. According to the U.S. Department of Justice, on October 10, TD Bank pleaded guilty to violating the Bank Secrecy Act and money laundering regulations, agreeing to pay an $18 billion fine. Additionally, FinCEN imposed a $13 billion fine on TD Bank and implemented a four-year monitoring period to address the same violations. The total $30.9 billion penalty is described as the largest fine under the Bank Secrecy Act to date.
Adrienne Harris, the head of the New York State Department of Financial Services, has been called the most powerful crypto regulator in the United States.