Sunday, December 22

Tag: Government Finance

Treasury Yields Fall to Lowest Levels Since Summer
6Dec By adminNo Comments
Money

Treasury Yields Fall to Lowest Levels Since Summer

Updated Dec. 5, 2023 5:38 pm ETThe bond rally resumed Tuesday, driving yields on benchmark 10-year U.S. notes to their lowest level since summer and lifting technology shares on an otherwise downbeat day for stocks. The technology-heavy Nasdaq Composite added 0.3%. In the S&P 500, technology and consumer-discretionary shares failed to offset declines in utilities, energy, materials and real-estate stocks, and the broad index shed less than 0.1%. The Dow Jones Industrial Average fell 0.2%, or about 80 points.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Moody’s Cuts China Credit Outlook to Negative on Growing Debt Risks
5Dec By adminNo Comments
Money

Moody’s Cuts China Credit Outlook to Negative on Growing Debt Risks

Updated Dec. 5, 2023 5:53 am ETChina’s mounting local government debt woes are putting pressure on the country’s credit ratings.Moody’s Investors Service lowered its outlook for China’s credit rating from stable to negative on Tuesday, warning that the financial stresses of some regional and local governments will require Beijing to provide support to them. That could weigh on China’s government finances at a time when its economy is slowing.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Pressure Is Building in China’s Financial Plumbing
4Dec By adminNo Comments
Money

Pressure Is Building in China’s Financial Plumbing

Plumbing is something most of us take for granted—until there’s a problem, at which point things can get messy fast. Likewise for the “plumbing” of modern financial systems: the money markets, where banks and other financial institutions make short-term loans to each other.So given the strains China’s economy is already laboring under—including a slow-motion property sector implosion and the “serious” insolvency of Zhongzhi Enterprise Group, a large asset manager, in its own words—it isn’t a great sign that China’s money markets have recently been throwing off little blips of distress too.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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China Evergrande Avoids a Debt Disaster—for Now
4Dec By adminNo Comments
World

China Evergrande Avoids a Debt Disaster—for Now

China Evergrande Group, the giant property developer whose default two years ago fueled a crisis in the country’s real-estate market, got some unexpected good news on Monday.The company, once China’s largest property developer by sales, was given until late January 2024 to reach a debt restructuring deal, after Hong Kong’s High Court postponed a hearing that could have pushed Evergrande into liquidation.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Germany Gets Honest About What Net Zero Will Cost
3Dec By adminNo Comments
Health

Germany Gets Honest About What Net Zero Will Cost

If you had “net zero causing Germany’s government to collapse” on your 2023 bingo card, congratulations—you may end up a winner. Chancellor Olaf Scholz’s administration is falling apart because it turns out someone will have to pay for decarbonizing the eurozone’s largest economy.This shocking and horrifying revelation is brought to you by Germany’s highest constitutional court, which ruled in mid-November that Berlin’s favorite budget gimmick violates the balanced-budget amendment. The amendment, known as the debt brake, limits the federal general-budget deficit to 0.35% of gross domestic product in any year unless Parliament declares an emergency.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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One Supreme Court Case Could Mess Up Chunks of the Tax Code
3Dec By adminNo Comments
World

One Supreme Court Case Could Mess Up Chunks of the Tax Code

WASHINGTON—A case that could punch holes in the federal tax code heads to the Supreme Court on Tuesday. The court will hear arguments in Moore v. U.S., which challenges a piece of the 2017 tax law that imposed a one-time levy on profits that companies had accumulated outside the U.S. But its implications could reach much further, providing the justices an opportunity to define what Congress can tax under the Constitution—and what it can’t. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Surprise Bill Coming to Those Who Underpay Their Taxes
3Dec By adminNo Comments
Money

The Surprise Bill Coming to Those Who Underpay Their Taxes

Failing to keep up with tax payments now could lead to an expensive surprise come next spring. As of Oct. 1, the Internal Revenue Service is charging 8% interest on estimated tax underpayments, up from 3% two years ago. The increase is one of the many effects of rising interest rates. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Surprise Bill Coming to Those Who Underpay Their Taxes
3Dec By adminNo Comments
World

The Surprise Bill Coming to Those Who Underpay Their Taxes

Failing to keep up with tax payments now could lead to an expensive surprise come next spring. As of Oct. 1, the Internal Revenue Service is charging 8% interest on estimated tax underpayments, up from 3% two years ago. The increase is one of the many effects of rising interest rates. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Newsom’s California Tax Whopper – WSJ
2Dec By adminNo Comments
Health

Newsom’s California Tax Whopper – WSJ

Thursday night’s debate on Fox News between Gavin Newsom and Ron DeSantis was instructive on many levels. While the Florida Governor stressed his superior record on crime, schools and the economy, Mr. Newsom focused on progressive cultural themes. But one of Mr. Newsom’s economic howlers shouldn’t pass without contradiction.The Governor proudly defended his state’s progressive income tax that imposes a top rate of 13.3% on taxpayers making more than $1 million—the second highest in the country after New York City. But he also asserted that Florida “taxes low-income workers more than we tax millionaires and billionaires in the state of California.”Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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