Author: News Room

Timing is everything. That was the lesson learned in a recent Tax Court case that resulted in a lost charitable deduction and capital gains tax. Here’s what happened. Background Commercial Steel Treating Corp., or CSTC, was founded in 1927 by the Hoensheid family. Over the years, the company performed well and remained in the family. By 2014, Scott Hoensheid and his two brothers, Craig P. Hoensheid and Kurt L. Hoensheid, held equal interests in CSTC. That same year, Kurt announced that he wanted out, and the remaining brothers were reluctant to take on debt to buy his shares—so they looked…

(Reuters) – U.S. money market funds drew inflows for a fourth straight week on worries about an economic slowdown after data pointed to slowing production and a cooling labor market. According to Refinitiv Lipper data, U.S. money market funds obtained a net $42.51 billion worth of inflows in the week to April 5. It was, however, the smallest weekly net purchase since March 8. Fund flows: U.S. domiciled equities, bonds and money market funds, https://www.reuters.com/graphics/USA-FLOWS/USA-FLOWS/lgvdkxleapo/chart.png Meanwhile, U.S. bond funds saw a surge in demand as they obtained a net $8.1 billion, the biggest amount since Jan. 11. Investors poured $2.81…

By Ambar Warrick Investing.com– Gold prices rose past key levels on Wednesday, boosted by safe haven buying after Minneapolis Federal Reserve President Neel Kashkari flagged a potential recession this year, with focus also turning to more U.S. economic cues due later in the day.  Kashkari said that rising interest rates and a slowdown in lending after the collapse of several U.S. banks could trigger a potential recession this year. But he also opined that allowing inflation to stay high would likely be worse. His comments come ahead of inflation data that is likely to have eased further in March. But…

© Reuters. Canoo (GOEV) secures Oklahoma City facility with lease agreement By Michael Elkins Advanced mobility and electric vehicle company, Canoo Inc (NASDAQ:) announced Monday that they have entered into a long-term lease agreement with an affiliate of AFV Partners, a related party, for its recently announced Vehicle Manufacturing Facility in Oklahoma City. Canoo will initially occupy close to 500,000 square feet, with the ability to expand. In phase 1, Canoo expects to employ more than 500 people, ramping teams over the coming months. “One of the reasons we picked Oklahoma is because it has one of the most amazing…

As the fallout continues from French President Emmanuel Macron’s visit to China in which he made comments seen by some as snubbing the U.S., reactions in Beijing and Taipei show just how tense the situation remains across the Taiwan Strait.The French leader last week finished a three-day visit to Beijing on what Paris had billed as a trip to urge Chinese leader Xi Jinping to help bring Russia to the negotiating table in its 14-month-old war against Ukraine. Macron was fêted with a military parade, a state dinner and generous one-on-one time with Xi. But remarks Macron made throughout the…

Oil futures fell on Monday, with U.S. prices ending below $80 a barrel for the first time in more than week as investors returned from a three-day Easter weekend. Crude prices had surged in holiday-shortened trading last week after the Organization of the Petroleum Exporting Countries and its allies announced an unexpected round of production cuts. Price action West Texas Intermediate crude for May delivery CL.1, +0.07% CL00, +0.07% CLK23, +0.07% fell 96 cents, or 1.2%, to settle at $79.74 a barrel on the New York Mercantile Exchange. That was the lowest front-month finish since March 31, according to Dow…

Depending if an investor is a Tesla bull or Tesla bear, Elon Musk’s pricing strategy is either a stroke of genius or a disaster starting to unfold. Tesla (ticker: TSLA) bulls and bears rarely see eye to eye and typically have vastly different interpretations of the same data point. Bulls and bears, however, might be able to both acknowledge that Tesla’s pricing strategy is unprecedented. Both sides might be wrong about that. Tesla has cut prices around the globe several times in the past few months. The most notable cuts came in mid-January when Tesla dropped U.S. prices for its…

Republican Sen. Tim Scott of South Carolina plans to launch an exploratory committee for president on Wednesday, according to a source familiar with his plans. Scott – the only Black Republican in the Senate – has been testing the waters for months. Since setting off on a listening tour in February focused on “Faith in America,” he’s made frequent visits to Iowa. He’s scheduled to hold events in the early voting state on Wednesday. The Post and Courier was first to report on the plans. “I’ve been doing a lot of thinking the past few months,” Scott wrote in a…

The renminbi’s share of trade finance has more than doubled since the invasion of Ukraine, analysis by the Financial Times has found — a surge that analysts say reflects both greater use of China’s currency to facilitate trade with Russia and the rising cost of dollar financing.Trade financing data from Swift, the international payments and financing platform, shows that the renminbi’s share by value of the market had risen from less than 2 per cent in February 2022 to 4.5 per cent a year later. Those gains put China’s currency in close contention with the euro, which accounts for 6…

Background Black Knight, Inc. (NYSE:BKI) is a leading provider of software, data, and analytics solutions for the mortgage and real estate industries. The company offers technology solutions to help lenders, servicers, and investors manage and optimize their mortgage and home equity portfolios. Intercontinental Exchange (ICE) is a global financial services company that operates a network of regulated exchanges and clearinghouses for various economic and commodity markets, including stock and bond trading, energy and agricultural commodities, currencies, and derivatives. ICE offers multiple data services, analytics, and technology solutions for market participants and investors. Arbitrage Opportunity Merger arbitrage is an investment strategy…