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Canada has sanctioned 40 Venezuelans, including President Nicolas Maduro, over what it calls attacks on “fundamental democratic rights.” The new regulations announced Friday include asset freezes and prohibitions against dealing with the 40 individuals “in any property … or providing financial or related services to them.”
Last month, U.S. President Donald Trump signed an executive order for sanctions that included barring American financial institutions from providing new money to the Maduro government or its state oil company.
Republicans are targeting a corporate rate of 20 percent in their federal tax overhaul plan, according to three people familiar with the emerging blueprint — a number that represents a substantial cut from the current 35 percent rate but falls short of the 15 percent President Trump has long pushed for.
Grover Norquist, president of Americans for Tax Reform, said a 20 percent corporate rate combined with five years of expensing would achieve the GOP’s long-standing tax objectives.
READ MORE: Canadian business owners aren’t quite united over Trudeau’s tax reforms, poll finds. The government’s proposals to eliminate several tax incentives have awakened a broad array of vocal opponents – from the small business community, to farmers, to tax planners, to professionals like doctors and lawyers.
If the government’s proposals are introduced as is, University of Calgary tax expert Jack Mintz says there are plenty of options to get around the changes – and he warns they wouldn’t be good for Canada.
Manitoba Premier Brian Pallister is preparing to speak out against the federal government's controversial tax reforms, which have angered business owners, doctors and farmers across Canada.
"Unfortunately, these positive provincial actions may soon be undone by federal proposals, which will dramatically change the way that small businesses are taxed in Canada."
North Korean Foreign Minister Ri Yong-ho told reporters on the sidelines of the U.N. General Assembly that Pyongyang might consider testing a hydrogen bomb over the Pacific Ocean after the United States widened economic sanctions against the hermit kingdom.
"I think that it could be an H-bomb test at an unprecedented level, perhaps over the Pacific," Ri said, adding that "it is up to our leader, so I do not know well."
Treasury prices rebounded, dragging yields lower, on Friday trade after North Korea threatened to test a hydrogen bomb in the Pacific Ocean, escalating tensions between the U.S. and the isolated nation and modestly stoking demand for Treasurys and other assets seen as safe.
In Europe, the yield for the German 10-year government bond TMBMKDE-10Y, -0.42% a proxy for the eurozone, was virtually unchanged at 0.458%.
Manitoba Premier Brian Pallister scheduled an afternoon event in Winnipeg, where he planned to publicly air his frustration over the federal tax proposals.
Morneau and Prime Minister Justin Trudeau have argued that the tax system unfairly encourages wealthy Canadians to incorporate, so they can get a better tax rate than middle-income earners. They say the changes are meant to end tax advantages that some wealthy business owners have unfairly exploited and to ensure all Canadians have a level playing field.
The finance heads of North America’s top companies have become increasingly pessimistic about the outlook for the economy and their own companies in 2017, as they eye the paralysis in Washington D.C. and worry about rising tensions with North Korea.
“The confidence in the outlook for the next year is coming down, but the year-on-year numbers are still pretty good,” he said. “What will be interesting is to see whether in the fourth quarter we have that follow-on of sentiment coming down.
The yen edged up 0.3% against the dollar on Friday after North Korea suggested it might test a hydrogen bomb over the Pacific Ocean.
It climbed 0.8% against the dollar when North Korea fired a missile over Japan in late August, and also gained during a second launch two weeks later. After the 2011 tsunami and nuclear disaster at Fukushima, there was such a surge that the government and the G7 countries had to intervene.
(The Red Cross has disputed the criticism.) The organization also recently apologized for temporarily suspending registrations for financial assistance for victims of Hurricane Harvey.
Maria, the first Category 4 hurricane to make landfall on Puerto Rico since 1932, devastated the island on Wednesday, killing at least 10, knocking out electricity and soaking towns. Just weeks after Hurricane Irma ransacked the Caribbean, Hurricane Maria is pummeling the region.
Over the past year, money has continued to be sucked up by prominent ETFs like Vanguard High Dividend Yield ($2.7 billion) and Schwab U.S. Dividend Equity ($1.35 billion), according to data provided by Chicago-based research shop Morningstar.
There are now around 160 U.S.-listed ETFs with a dividend focus, notes Neena Mishra, director of ETF research for Zacks Investment Research in Chicago. But which dividend ETFs might be smart plays going forward, and how can you pick among them?
A major computer hack at America’s top stock market regulator is the latest sign that data stored in the highest reaches of the U.S. government remains vulnerable to cyber attacks, despite efforts across multiple presidencies to limit high-profile breaches that are so frequent many consider them routine.
The Securities and Exchange Commission (SEC), America’s chief stock market regulator, said on Wednesday that cyber criminals may have used data stolen last year to make money in the stock market, making it the latest federal agency to grab headlines for losing control of its data.
Republicans’ hopes of repealing Obamacare suffered their latest setback on Friday as Sen. John McCain said he couldn’t support a proposal from Sens. Lindsey Graham and Bill Cassidy.
“I’m completely convinced taking money and power out of Washington and returning it to states to administer health care is the best way to replace a collapsing Obamacare system,” Graham said in a statement Friday. Republicans say they’ll press on one way or another with trying to remake the health-care system.
In a note to clients, Société Générale warns that investors are getting a little too relaxed about the Fed’s interest rate plans, and that they and their beloved bull market could be in for a rude awakening.
Now, Fed Chairwoman Janet Yellen shoulders some of the blame for lulling investors into that false sense of security, given her effort to “communicate as clearly as possible,” says SocGen. Read: Fed’s Yellen says low inflation a ‘mystery,’ but not mysterious enough to keep rates low. SocGen is not just talking the talk here.
Republican lawmakers are gearing up to battle a powerful force in the coming skirmish over a $1.5 trillion tax cut: Economists.
Party leaders are rejecting criticism that their yet-to-be-unveiled tax plan will add to the ballooning federal deficit, saying the tax cuts will essentially pay for themselves by generating robust economic growth. WASHINGTON — Republican lawmakers are gearing up to battle a powerful force in the coming skirmish over a $1.5 trillion tax cut: Economists.