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. […]
Archives for May 2020
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.
Non-essentials in the red even if curbs go
Even as the sale of products such as smartphones, laptops, air conditioners, coolers and home furnishings could increase once the government lifts restrictions on commerce in red zones, the demand could be short-lived as a majority of consumers would refrain from spending on non-essential items, a survey showed. The survey, which gauged the purchasing sentiment […]
Fed buys $305M of ETFs at start of historic program
The Federal Reserve bought $305 million of ETFs in the first two days of its historic intervention into U.S. corporate debt markets, according to data published Thursday. The figures were revealed in the central bank’s weekly balance sheet update, which also showed that total assets rose to a record of $6.93 trillion in the week […]