Things worth reading: 24th February 2017
Chris Skinner
FEBRUARY 24, 2017
The post Things worth reading: 24th February 2017 appeared first on Chris Skinner's blog.
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TrustBank
OCTOBER 21, 2021
On September 15, the House Ways and Means Committee approved the tax provisions of the Build Back Better Act (BBBA), the legislation intended to implement President Biden’s social and education reforms. This proposal would be effective for tax years beginning after Dec. net investment income tax + 3% high income surcharge).
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Gonzobanker
DECEMBER 19, 2017
Seriously, sit back with a pocket flask of Pappy Van Winkle, smoke a cigar (or your combustible of choice if you live in Colorado, California, Washington, Oregon, Nevada, Main or Massachusetts) and enjoy the 2017 GonzoBanker Awards. One word can summarize this action-packed banking year, GonzoBankers – tiring. Payments chaos.
PYMNTS
DECEMBER 26, 2019
Analysts anticipate additional government reforms in 2020 could help improve stock markets, however. According to data from Refinitiv, funds secured through Indian IPOs dropped to $2.8 billion in 2017 prior to a notable fall to just $5.5 billion in 2019. IPO value was at $11.7 billion in 2018. percent for the year.
PYMNTS
SEPTEMBER 30, 2019
eCommerce sales tax laws are having unintended consequences in the tobacco industry. These laws were meant to make online sellers face sales tax requirements similar to those for retailers with on-the-ground locations, putting both types of businesses on equal footing. in 2017 had a 52.75
PYMNTS
FEBRUARY 21, 2020
She’s alleging the city profited by that same amount selling medallions and by collecting a 5% tax on third-party transfers. These taxi medallions were marketed as a pathway to the American Dream, but instead became a trapdoor of despair for medallion owners harmed by the TLC’s unlawful practices,” she added. .
PYMNTS
OCTOBER 8, 2019
Hiring continues to be a challenge as business owners not only struggle to find qualified workers in a tight labor market, but find professionals who will help that company achieve its goals. There is also the knock-on impact from the ongoing trade dispute between the U.S. PYMNTS breaks down the key data points from these reports below.
Jeff For Banks
NOVEMBER 1, 2017
Quarterly Financial Markets & Economic Update- October, 2017 I love this time of year. The markets have not given way to anything, with long term bonds still trading in a tight range and short term rates having risen from Fed action. The overall forecast for GDP in 2017 is 2%. in September, 2017.
PYMNTS
SEPTEMBER 14, 2018
Securities and Exchange Commission (SEC) claims that two high-frequency traders routed millions through Citi Match, while the firm allegedly told clients that they were not using the service, Financial Times reported. ” The news comes as the U.S. In a statement , Joseph G. billion, up from an earlier disclosure of $22 billion.
PYMNTS
APRIL 1, 2019
As of Friday (March 29), Lyft had a market valuation of higher than $22.25 For 2018, the company said in its IPO filing with the Securities and Exchange Commission (SEC) that it earned $2.16 million loss it logged in 2017. Lyft is among the handful of startups that are slated to tap the public markets this year.
PYMNTS
FEBRUARY 6, 2020
And while enthusiasm for expanding opportunities to access the Chinese market and its billion-plus consumers is as avid as it’s ever been — as evidenced by last week’s announcement of PayPal and UnionPay’s global payments partnership — the bigger commerce story has expanded beyond China in the last few years.
PYMNTS
FEBRUARY 12, 2018
Even amid the competition, eCommerce retail in Brazil has slowly taken off due to fears over security. Tax and logistics in Brazil can be challenging due to the large size of the country. As a result, only 5 percent of Brazil’s approximately $300 billion retail market represents eCommerce.
PYMNTS
JANUARY 22, 2018
Expense management technology is now a saturated market, particularly for the small business space – which is notoriously difficult to serve, because they are too small for large, enterprise-grade solutions, but too large for consumer-specialized tools. “Some observers will define the market as $10 million in the top line to $1 billion.
PYMNTS
FEBRUARY 21, 2020
More than $1 trillion is expected to be spent on cybersecurity solutions worldwide between 2017 and 2021 as companies address the need for protections and make major investments in digital fraud-fighting techniques. One study found a 46 percent increase in reports of such attacks between 2017 and 2018. Detecting Fraudsters.
Abrigo
SEPTEMBER 6, 2017
Federal Reserve Small Business Credit Survey The 2016 Small Business Credit Survey from the Federal Reserve states that moving into 2017, small businesses “expressed continued optimism while also reporting trouble making ends meet and accessing credit.” The reason members have joined a credit union is for the relationship,” says Brown.
PYMNTS
FEBRUARY 27, 2019
Even though biometrics offer notable security advantages, they do come with risks. The following Deep Dive examines the potential use cases for biometrics in national identification systems and the security pitfalls they could encounter. . A reported 3.6 billion people worldwide will carry digital IDs with embedded biometrics by 2021.
PYMNTS
APRIL 16, 2018
A bit of a commerce chill settled on consumer-spending patterns in the later days of 2017 and early 2018, but it seems customers have found their appetites again for cars, appliances and furniture. After looking sluggish in the first few months of the year, U.S. Auto sales were looking particularly heathy, with a 2 percent bounce in March.
PYMNTS
FEBRUARY 20, 2019
At the end of last year, the company submitted paperwork for an initial public offering to the Securities and Exchange Commission (SEC), and it’s expected to make the actual IPO filing next week, naming Nasdaq as the listing exchange. The NYSE listed a few marquee companies in 2017, including Spotify and Snap. billion by 2019.
PYMNTS
NOVEMBER 3, 2017
Cardtronics , the world’s largest ATM owner and operator, revealed that it has exceeded earnings expectations for the third quarter of 2017. The company, which is based out of Houston, TX and operates globally, had total revenues of $402 million in the quarter ending September 30, 2017 – a 22 percent increase from $328.3 million ($193.5
PYMNTS
MARCH 2, 2018
and India drove a surge in FinTech venture capital funding in 2017, and Accenture Financial Services Senior Managing Director Julian Skan pointed to the B2B business model as a significant presence in this trend. Total venture capital across the global FinTech market between 2010 and 2017 hit a combined $97.7
PYMNTS
FEBRUARY 14, 2019
13), raising new concerns over government spending and the economy’s ability to make up for tax cuts. The current size of the BBB-grade (near junk) corporate bond market is now at the highest level it’s ever been. corporate bond market has really taken place in the BBB space,” Gave told Financial Sense reporters.
Jeff For Banks
JULY 8, 2017
The markets continue to roll and bond markets continue to trade in a 25 basis point range, hitting the higher end when they think the economy is strong (why else would the Fed raise rates?) The Fed has raised rates by 25 basis points twice so far in 2017 and has promised one more increase. million, at the end of May, 2017.
PYMNTS
FEBRUARY 14, 2018
2017 was a transformative year for OnDeck,” CEO Noah Breslow noted at the beginning of his remarks. He reminded investors that the firm, which had a very rocky start in 2017, managed to end the year with its effective interest yield up by over 200 basis points and its net charge-off rate down by over 100 basis points.
BankBazaar
JUNE 18, 2020
If your tax slab is 30%, your FD returns will be taxed to that extent, unless you’re a senior citizen eligible for certain income tax bene?ts after income tax and that is your e?ective ective post-tax return (refer to Table 2). higher per annum post tax than ?xed ts on this front.
PYMNTS
JANUARY 15, 2019
Malaysia’s initial coin offering (ICO) regulations are said to take effect on Tuesday (January 15) per a notice from the Securities Commission (SC) in the country, Coindesk reported. million between 2015 and 2017 through the Finnish bitcoin exchange. With the order, exchanges and offerings for tokens would need the SC’s approval.
PYMNTS
JANUARY 8, 2020
8), the Securities and Exchange Commission ’s (SEC’s) Office of Compliance and Examinations (OCIE) offered up a list of its priorities for the year that has just dawned. Against that backdrop, we might see the continued evolution of tax policy tied to crypto, and perhaps more defined parameters of crypto as a distinct class of assets.
PYMNTS
JANUARY 19, 2017
The FCA regulatory approval will enable us to meet the growing demands of our global partners and clients who require accessibility to efficient fund flows and secure cross-border payments between the U.K. We are delighted to receive the FCA approval for our operations in the United Kingdom. and China.”.
PYMNTS
JUNE 15, 2018
In the Middle East , RAK Bank has said it will offer Sage accounting software to business banking customers, in an agreement that helps those firms manage value-added tax (VAT) compliance mandates. The software firm, Sage, has had five of its accounting offerings focused on VAT, accredited by the UAE Federal Tax Authority.
PYMNTS
JANUARY 31, 2018
South Korea is one of the world’s major hubs for crypto trading — and a local ban was considered a stumbling block for an exploding market. It has also been a weight on the price of bitcoin, which has seen its prices struggle in early 2018 after explosive growth capping off 2017.
PYMNTS
JANUARY 31, 2019
In addition, Grab plans to start offering solutions and privileges from United Overseas Bank Limited (UOB) in Singapore , Fintech firm BPP has unveiled a digital wallet dubbed BPP Pay for the Brazilian market and passengers from China can now make payments with WeChat Pay at an airport in Italy.
PYMNTS
JANUARY 9, 2019
In a 2017 report from job hunting site Indeed , researchers found that “small business accountant” was nowhere to be found in the top-10 job positions sought after by most small business employers. McKinsey research , released in 2017, pegged the number of jobs worldwide that could be lost to automation by 2030 at 800 million.
BankBazaar
JANUARY 31, 2021
The National Sample Survey Office conducted a survey between 2017 and 2018, sampling 113,823 urban and rural households. However, in case of serious tax-evasion cases (Rs. Affordable housing projects to get a tax holiday for one year. Strengthening of Urban Swachh Bharat Mission. The findings indicate that a whopping 85.9
Jeff For Banks
FEBRUARY 4, 2023
The labor market has also improved, with unemployment declining and job growth picking up. Additionally, the implementation of new policies by the government, such as changes to taxes and regulations, could also influence economic outlook. Assistance in cyber security measures, such as "Describe the 2021 Kaseya ransomware attack.";
PYMNTS
MARCH 22, 2017
All panel members agreed that forcing a multi-billion-dollar-a-year vertical to operate in a cash-dominated, semi-black market when it comes to financial services is not sustainable — or smart. They also pay their staff, pay their suppliers, pay their utility bills and pay their taxes. Higher Risk Than Necessary.
PYMNTS
NOVEMBER 11, 2016
The election came and went and, with it, brought some stock market shock. International markets opened Wednesday (Nov. International markets opened Wednesday (Nov. But as markets saw their prices fall, bitcoin’s numbers went up. 9) morning on a down note: Stocks in London dropped 4.3 Way up, way fast.
Jeff For Banks
DECEMBER 12, 2017
I chose five years because banks that focus on year over year returns tend to cut strategic investments come budget time, which hurts their market position, earnings power, and future relevance than those that make those investments. Actually, the Bank had a one-time after tax litigation settlement (from a 2002-04 event) of $6.2
PYMNTS
OCTOBER 10, 2017
Digitization of B2B payments is on the rise, but the trend is challenged by discrepancies across geographic markets, according to the latest World Payments Report by Capgemini and BNP Paribas. The 2017 report , released Monday (Oct. Developing markets are driving this growth, too.
PYMNTS
JUNE 14, 2018
Identity theft is an unfortunately reality for more consumers as data breaches continue to rock the market. Business identities can be used to open card accounts, initiate wire transfers or commit tax fraud. Research from Auriemma Consulting Group estimates that identity theft has cost banks at least $6 billion, and cost consumers $58.9
PYMNTS
DECEMBER 27, 2016
The world of global payments is evolving rapidly — driven by an increasingly global economy, expanding consumer buying power in regions like Asia and South America, rising adoption of digital payment methods and increasing concerns over security and transparency. Security is also important. And we expect more of the same in 2017.
PYMNTS
NOVEMBER 7, 2019
International merchants often find that serving this emerging market requires embracing a popular domestic payment instrument known as Boleto Bancário. . percent tax on foreign merchant transactions by using local payment methods. International subscription providers eyeing the Brazilian market must balance several considerations.
Jeff For Banks
FEBRUARY 3, 2018
At September 30, 2017 there were 5,737, a 16% decline. There were 166 mergers, and four new charters in the first three quarters of 2017. In 2017, NIMs ranged from a high of 3.8% Provision, and income taxes. Banks might earn that valuation depending on how they take advantage of the new tax law. Trends are telling.
PYMNTS
JANUARY 10, 2018
Reports noted the efforts echo those seen in Nevada, with one bill that aims to “prohibit cities and villages and counties from taxing or otherwise regulating the use of distributed ledger technology.”. Securities and Exchange Commission (SEC) has reportedly blocked trading for UBI Blockchain stock, based in Hong Kong.
BankUnderground
JUNE 11, 2021
As Figure 2 demonstrates, IFRS 9 increases the level of credit loss provisions, reducing after-tax profit and retained earnings (the main component of equity capital resources) of a bank. This proposition would hold in efficient and integrated capital markets. The low-risk anomaly in share markets is one of these frictions.
PYMNTS
MAY 5, 2017
The digital currency’s market cap sat at just over $25.4 At this time last year, BTC traded at $460, meaning the digital currency’s value has grown over 230 percent within the period—with just over half of that growth coming in the first five months of 2017. percent from Wednesday’s close.
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