By Elaine Glusac Airbnb, born in 2008, famously disrupted the hotel industry. It stole market share, put pressure on hotel rates, inspired the creation of affordable brands and saw hotels across the spectrum create restaurants, bars and lobbies that channeled the local vibe. Airbnb’s recent layoff of a quarter of its workforce indicates the financial […]
Archives for 2020
Editor’s Column: Value of Financial Planning income growing
One of the more encouraging Financial Planning stories this week came from wealth manager Brewin Dolphin which reported its Financial Planning income up by over 30% for the past half year. Amid an ok set of results for Brewin this was an exceptional performance, mostly driven by its acquisition last year of Financial Planning […]
Invesco revamps UK equities as Barnett exits
Invesco is making sweeping immediate changes to its UK equity fund range and team today following the exit of high profile fund manager and Neil Woodford protégé Mark Barnett. Invesco’s chief investment officer Stephanie Butcher, who was appointed at the beginning of this year, has spearheaded the changes following a period of under-performance for the fund manager’s UK equity funds. […]
2,500 CII members shift to online exams
More than 2,500 Chartered Insurance Institute members will take their exams online over the next few months as the professional body shifts to remote testing and remote invigilation due to the pandemic. Next week the CII will contact more than 2,500 candidates who were due to sit their written exams on 6 and 7 July […]
Zomato to lay off 520 people as Covid-19 hurts business
Food delivery platform Zomato will layoff 520 employees, or 13% of its workforce, and temporarily cut salaries of the rest, the company’s founder said in an internal email on Friday, as the Covid-19 pandemic and resultant nationwide lockdown has hit its businesses. Employees who are being let go will receive half their salaries along with […]
TDS cut to make e-commerce attractive for merchants
The 25% reduction in tax deducted at source (TDS) on e-commerce participants from October will benefit merchants or sellers, said tax experts, adding that the reduced TDS on commissions will provide them with more working capital immediately. However, sellers and e-commerce marketplaces still say that the TDS levy should be removed altogether as it will […]
Multiplexes’ pain is Amazon Prime Video’s gain
The tug of war between the video streaming services (over-the-top players) and the multiplexes is set to intensify after Amazon Prime Video fired the latest salvo by acquiring seven Bollywood and regional films, including Amitabh Bachchan-Ayushmann Khurrana’s ‘Gulabo Sitabo’ and Vidya Balan-starrer ‘Shakuntala Devi’ for direct-to-digital premiere. The move will allow the producers and studios […]
Tax-News.com: Bill Would Exclude US Territories, Possessions From GILTI Regime
On May 4, 2020, a bill was introduced in the United States House of Representatives to limit the impact of the Global Intangible Low Tax Income regime on businesses based in US territories and possessions.
Tax-News.com: US IRS Announces TCJA Compliance Campaign
On May 1, 2020, the United States Internal Revenue Service Large Business and International Division announced a new compliance campaign focusing on the 2017 Tax Cuts and Jobs Act and the recently enacted Coronavirus Aid, Relief and Economic Security Act.
Tax-News.com: US IRS Sets Out Details Of COVID-19 Tax Breaks
On May 7, 2020, the United States Internal Revenue Service issued a reminder to employers affected by COVID-19 about the tax credits made available to them under the Coronavirus Aid, Relief, and Economic Security Act.