November 7, 20240 Comments

UK’s rich non-doms urge Italian-style tax regime to prevent wealth exit

High end Porsche 911 Carrrera GTS car parked outside the Chanel store on Bond Street on 16th October 2023 in London, United Kingdom.  Mike Kemp | In Pictures | Getty Images LONDON — Britain’s ultra-rich non-doms are urging the government to introduce an Italian-style flat-tax regime to prevent a wealth exodus, as their preferential status comes under threat in the upcoming budget. Foreign Investors for Britain, a lobby group comprised

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November 7, 20240 Comments

Financial Products News #2023 – 43 Nasdaq to Terminate Twenty Indexes Effective After the Close of Business on Friday, December 29, 2023

What you need to know: In coordination with Invesco Indexing LLC, Nasdaq and Invesco have jointly decided to transition administration of the indexes and dissemination of the index data to Invesco. Effective after the close of business on Friday, December 29, 2023, Nasdaq will cease the calculation and dissemination of the following indexes: BS Investment Grade Corporate Bond 2024 TR Index (Symbol: BSCBO) BS Investment Grade Corporate Bond 2025 TR

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November 7, 20240 Comments

US expands bird flu testing after finding symptom-free infections in people By Reuters

By Deena Beasley and Leah Douglas (Reuters) – Farm workers who have been exposed to animals with bird flu should be tested for the virus even if they do not have symptoms, the U.S. Centers for Disease Control and Prevention said on Thursday. The change to the agency’s testing recommendation comes as the U.S. Department of Agriculture is also expanding its testing of milk for bird flu, signaling concern by

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November 7, 20240 Comments

Rivian sticks to gross profit target despite part supply disruption By Reuters

By Akash Sriram and Abhirup Roy (Reuters) -Rivian stuck to its forecast of achieving gross profit in the fourth quarter even as it reported its first drop in quarterly revenue hurt in part by shortage of a component. Shares of Rivian (NASDAQ:) rose nearly 2% as the Irvine, California-based company expects to “generate modest positive gross margin” in the current quarter helped largely by cost cuts, and higher revenue per

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November 7, 20240 Comments

Whale Loses $74,980,000 in One Trade Trying to Short Bitcoin (BTC) on Election Day: Lookonchain

A trader attempting to short Bitcoin (BTC) is reportedly now suffering tens of millions of dollars in losses after the flagship crypto asset soared on Election Day. Blockchain tracking firm Lookonchain says one crypto whale suffered a $74,980,000 liquidation as US presidential vote tallies began to break toward pro-crypto candidate Donald Trump. Bitcoin hit new all-time highs as Trump prevailed over Democratic challenger Kamala Harris. “So crazy! After BTC hit

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November 7, 20240 Comments

Bank of Canada keeps cutting rates but bonds still attractive

THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others. Daily content from Financial Times, the world’s leading global business publication. Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account. National Post ePaper, an electronic replica of the

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November 7, 20240 Comments

US Big Four Bank Citi and Fidelity International Unveil Proof of Concept of an On-Chain Money Market Fund

American investment bank Citi and asset manager Fidelity have teamed up to develop a blockchain-based investment fund that can power real-time settlements. In a statement, Citi and Fidelity International introduce the proof-of-concept of an on-chain money market fund (MMF) with digital foreign exchange (FX) swap that can execute programmable multi-asset transactions on-chain, which is not possible with traditional market infrastructure. The two firms say the tokenized MMF has the potential

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