Crisis looming over global economy without free trade
Russian President Vladimir Putin warned about the deepest crisis the global economy has ever seen, if protectionism prevails. “The system of multilateral cooperation, which took years to build, is no longer allowed to evolve. It is being broken in a very crude way. Breaking the rules is becoming the new rule,” he said. Seeking alternatives to US dollar dominance in global finance on day one of SPIEF 2018 The methods for breaking the rules are trade tariffs, technical standards and subsidies, as well as unilateral sanctions, according to Putin. “The ability to impose sanctions arbitrarily and with no control fosters a temptation to use such restrictive tools again and again, right and left, in every case, regardless of political loyalty, talks about … [READ MORE...]
U.S. News Outlets Block European Readers Over New Privacy Rules
Andrea Jelinek, chairwoman of the new European Data Protection Board, which will coordinate enforcement of the new law, criticized the blackout and said that companies had been given a long time to prepare. For weeks, businesses as varied as Uber, bike shops and restaurants have been sending notes to alert people to updated privacy policies as a result of the law, known as G.D.P.R.“It didn’t just fall from heaven,” Ms. Jelinek said in a statement. “Everyone has had plenty of time to prepare.”News organizations were not alone in erecting barriers for European users. The American television broadcaster AE Networks cut off the websites of its AE, History and Lifetime channels. The digital advertising company Drawbridge, the social media tracker Klout and the save-it-for-later reading app … [READ MORE...]
Bags of Cash and Stealthy Deliveries: How Pot Start-Ups Pay Taxes
The federal government has a history of taking a hard-line view of this industry. In 2015, the Federal Reserve Bank of Kansas City likened Colorado’s legalization of marijuana to allowing “trade in endangered species or trade with North Korea.”But that hard-line is beginning to change, which could mean that down the road, federal regulations might loosen up.Senator Chuck Schumer, Democrat of New York, said last month that he would introduce a bill decriminalizing cannabis. And President Trump recently suggested that he would be open to signing a law that would allow states to control their cannabis industries without threat of federal prosecution. A business group, the National Cannabis Industry Association, recently produced a video encouraging citizens to ask Congress to “support legal … [READ MORE...]
Latest News
Single-Payer Health Care in California: Here’s What It Would Take
About half that sum could come from existing Medicare and Medicaid dollars, according to the analysis. What employees and employers currently spend would cover another $100 billion to $150 billion. But the remaining $50 billion to $100 billion would require new taxes — such as a 15 percent payroll tax on earned income.A separate analysis put the bill’s cost at $331 million, accounting for savings achieved through efficiencies and preventive care, among other things. Whatever the figure, even … [Read More...]
Tax Break, or Kickback? Energy Benefit Becomes a Lightning Rod
“The whole purpose of the tax deduction was to incentivize owners, and our situation as a governmental entity is no different from Apple or any other corporate entity,” Philip Aldridge, vice chancellor for business development at the University of Texas, said. The University of Texas System and the University of Houston System have filed a lawsuit arguing that they were misled into transferring incentives worth millions of dollars without compensation.“We own the building, we financed 100 … [Read More...]
Why Trump’s Intense Focus on the Trade Deficit Could Cost the Economy in the Long Run
The administration’s approach might quickly reduce the headline level of the trade deficit, but it largely ignores the frustrations of American sectors that are the most promising sources for creating future good export-related jobs.American companies that make automobiles, semiconductors and other complex products bemoan Chinese government requirements that force American firms to form joint ventures with Chinese companies, sharing their technology. They accuse those partners of widespread … [Read More...]
Trump’s Charm and Threats May Not Be Working on China. Here’s Why.
China’s problems in the area of technology could get worse. American officials are investigating whether a much bigger Chinese tech company, Huawei Technologies, also flouted American trade controls. Huawei has said it adheres to international conventions and local laws.Despite that vulnerability, China has plenty of negotiating strengths.White House trade officials have more expertise with trade law, but China has a small but cohesive team of negotiators who report directly to Liu He, a vice … [Read More...]
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Small Business
Bags of Cash and Stealthy Deliveries: How Pot Start-Ups Pay Taxes
The federal government has a history of taking a hard-line view of this industry. In 2015, the Federal Reserve Bank of Kansas City likened Colorado’s legalization of marijuana to allowing “trade in endangered species or trade with North Korea.”But that hard-line is beginning to change, which could mean that down the road, federal regulations might loosen up.Senator Chuck Schumer, Democrat of New … [Read More...]
Some Said They’d Flee Trump’s America. These People Actually Did.
Unplugging and Yet NotJust like late-1960s hippies, right? But living an untethered life has gotten easier now that many people need only a laptop and a fast internet connection to earn a living. Websites like Nomadlist help people decide where on Earth to go. The rise of Airbnb makes it easy to rent space in most corners of the globe with a swipe of your iPhone. Roving parents can find global … [Read More...]
Your Money
Your Money Adviser: Free Tickets. Money. College Savings Plans Try to Stir Up Interest.
All states but Wyoming now offer some type of 529 plan, as does the District of Columbia. The plans allow families to invest in an account that grows tax-free. The money is also withdrawn tax free, as long as it is spent on eligible expenses like tuition, fees and other costs, including room and board, books and equipment. (A few plans, known as prepaid tuition plans, work a bit differently.) For … [Read More...]
Wealth Matters: An Investment on Your Wrist
Rolex watches span the gamut from affordable to exclusive, starting at less than $6,000 and soaring to limited-edition models that cost more than $300,000. It’s like the range of Mercedes cars between a basic C Class sedan, which has no rarity value, and a more coveted AMG Cabriolet that tops $300,000.“Rolex has become a cultural symbol and a status symbol,” said Benjamin Clymer, founder and chief … [Read More...]