By Keith Bradsher China’s business leaders know better than to argue with Beijing. Leave the politics to the Communist Party, they long ago concluded, and the government will let them make money in peace. A vicious viral outbreak has upended that formula. China’s typically supercharged economy has ground to a near standstill as the authorities […]
Archives for 2020
Bezos hack casts light on stock that’s up 191% in two years
If FTI Consulting suffers from a lack of name recognition, its clients don’t. The firm, staffed with former FBI, MI-6 and Mossad agents, has advised everyone from Jeff Bezos in the alleged Saudi phone hack case that United Nations experts got involved with last month, to George W Bush and OJ Simpson’s defense team — […]
How to handle Medicare if clients are working at 65
Welcome to Retirement Scan, our daily roundup of retirement news your clients may be talking about Here’s how to handle Medicare if clients are still working at age 65Seniors working for big companies have the option to delay Medicare without penalty and stick to their group health insurance plan once they reach the age of […]
Wells Fargo pays $3B, avoids prosecution for sales abuses
Wells Fargo will pay $3 billion to settle U.S. investigations into more than a decade of widespread consumer abuses under a deal that lets the scandal-ridden bank avoid criminal charges. The deferred-prosecution agreement with the Department of Justice spares the San Francisco-based lender a potential criminal conviction that can create serious complications for banks, if […]
Weekend Reading for Financial Planners (Feb 22-23)
Executive Summary Enjoy the current installment of “weekend reading for financial planners” – this week’s edition kicks off with the big industry news that wirehouse Morgan Stanley is acquiring E*Trade for $13B, in a major shift for the wirehouse to move (back) towards the mass affluent with a more online digital offering via E*Trade, which […]
GASB proposes criteria for financial statement disclosures
A proposed concepts statement issued Friday by GASB would establish new criteria for state and local governments to follow in developing their disclosures for notes to financial statements. The exposure draft, Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements: Notes to Financial Statements, describes the types of information that should […]
Editor’s Comment: Is Vanguard the new investment ‘Aldi’?
I am beginning to wonder if low cost investment dynamo Vanguard is becoming the new Aldi of the investment world and what this means for the sector. This week the company set the cat among the pigeons with a new low cost SIPP launch. It was clear from the accompanying information with the launch […]
Larry Kudlow says falling bond yields don’t reflect the US economy’s ‘fundamentals’
White House economic adviser Larry Kudlow speaks to reporters at the White House in Washington, May 3, 2019. Kevin Lamarque | Reuters Larry Kudlow, President Donald Trump’s top economic advisor, told CNBC on Friday that he believes the recent decline in U.S. bond yields doesn’t reflect market or business fundamentals and instead reflects a transient […]
Small Business Taxes: How to Successfully Navigate Tax Season
Most people can work through filing an individual tax return. However, when responsible for submitting your small business taxes, a lot more is at stake. Though 93% of small businesses confidently believe in their ability to accurately file taxes, almost one-third also speculate they are overpaying. Tax season is a stressful time for any business, […]
FASAB clarifies loss allowance for intragovernmental receivables
Accounting guidance for federal government entities on the loss allowance for intragovernmental receivables was clarified in a technical bulletin issued Thursday by the Federal Accounting Standards Advisory Board. Technical Bulletin 2020-1, Loss Allowance for Intragovernmental Receivables, explains that the recognition of losses, provided in Paragraphs 40–52 in Statement of Federal Financial Accounting Standards 1, Accounting […]