By P R Sanjai, Baiju Kalesh and Manuel Baigorri With the pandemic battering assets and oil nosediving, Indian tycoon Mukesh Ambani needed a win to stem the investor exodus from Reliance Industries, the energy conglomerate he’s been trying to reinvent. This week, Facebook and its Chief Executive Officer Mark Zuckerberg delivered just that. The U.S. […]
Archives for April 2020
Treasury yields fall with traders cautious on potential coronavirus treatment
U.S. Treasury yields fell on Friday morning as traders looked ahead to fresh economic data and digested a report that raised doubts over a possible coronavirus treatment. At around 2:30 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 0.5945%, while the yield on the […]
JobKeeper Eligibility Alternative Test
If you don’t fit into the JobKeeper basic term for reduced turnover, you may qualify by using an alternative test. The ATO has released Alternative Tests for the JobKeeper payment which expands eligibility from the initial basic test. This is good news for many businesses, particularly startups, those affected by last year’s droughts and those […]
Venezuela receives material from Iran to help restart refinery – official
MARACAY, Venezuela/CARACAS (Reuters) – Venezuela has received refining materials via plane shipment from Iran to help it start the catalytic cracking unit at the 310,000 barrels-per-day Cardon refinery, which is necessary to produce gasoline, an official said on Thursday. The shipments mark a new stage in cooperation between the two OPEC nations that are both […]
House approves additional funding for Paycheck Protection Program
The U.S. House of Representatives passed legislation Thursday that will provide $370 billion in additional pandemic-relief funding for small business as part of a larger aid package. President Donald Trump is expected to quickly sign the $484 billion Paycheck Protection Program and Health Care Enhancement Act, which was approved by the Senate on Tuesday. Most […]
Some startups mandate Aarogya Setu, others wary
Illustration: Rahul Awasthi Food delivery platforms Swiggy and Zomato, online services marketplace Urban Company and e-grocer Grofers have asked frontline staff to mandatorily use the government’s Aarogya Setu contact tracing app, while e-commerce heavyweights Amazon and Flipkart have also recommended that their workers do the same, despite concerns over the app’s privacy and security. “Since […]
Reliance Jio & Facebook differ on key policy issues
Illustration: Rahul Awasthi Facebook could find itself sparring with Reliance Jio in policy debates over how data is collected, stored and shared in India, said legal experts, as the two technology giants differ markedly in their stance on these issues. The American social media company, which is paying $5.7 billion for a minority stake in […]
Is the Fed Superman or the Antichrist? Gotta hear both sides
Is the Fed destroying the economy or saving it? Is it restoring order to the markets are breaking them? This is one of the biggest debates in finance right now (who am I kidding, at all times), and we wanted to talk to smart people on opposing sides to give our viewers a chance to […]
Prop. regs. would govern silo rules for exempt organizations
The IRS issued proposed regulations Thursday (REG-106864-18) on the new rule that requires tax-exempt organizations subject to tax on unrelated business taxable income (UBTI) to calculate UBTI separately with respect to each business — or to “silo” revenue and expenses for each separate business. The silo rules are found in Sec. 512(a)(6), which was enacted […]
What Homeowner Associations Need to Know About Accounting Standard Changes for Revenue Recognition | Daily Business Review – Law.com
Monta Kane and Diana Rivera, Principal MBAF in Miami (Photo: Courtesy Photo) In 2016, the Financial Accounting Standards Board (FASB) released a new standard, ASC 606 – Revenue from Contracts with Customers. The new standard is effective for Dec. 31, 2019, financial statements, and the changes in revenue recognition it has created, have a significant […]