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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:


ACCA Tax News

The Chartered Institute of Taxation: News

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Reuters: Money

Chicago teachers pension fund divesting from private prisons

Fri, Aug 17, 2018

The Chicago Teachers' Pension Fund's board of trustees voted on Friday to phase out investments in companies that run private prisons or immigrant detention centers, saying the businesses have an... ...

Trump backs CEOs, proposes easing corporate reporting rules

Fri, Aug 17, 2018

U.S. President Donald Trump asked securities regulators to explore replacing quarterly reporting requirements with half-yearly filings at the urging of executives including PepsiCo Chief Executive... ...

Trump asks SEC to mull half-year corporate filings

Fri, Aug 17, 2018

U.S. President Donald Trump said on Friday he has asked the U.S. Securities and Exchange Commission to study the impact of allowing companies to file reports with the financial regulator every six... ...

It will be tough for Trump's SEC to overhaul reporting rules

Fri, Aug 17, 2018

U.S. President Donald Trump said Friday that he wanted the Securities and Exchange Commission (SEC) to explore doing away with quarterly corporate reports, replacing them with filings every six... ...

SEC says it continues to study frequency of company reporting

Fri, Aug 17, 2018

The Securities and Exchange Commission will continue to study the frequency of public company reporting after President Donald Trump called on the agency to consider shifting from quarterly to... ...

SEC moves to ease information disclosure requirements

Fri, Aug 17, 2018

The top U.S. securities regulator on Friday said it had voted to simplify and update requirements for disclosing information that it considers redundant or outdated, with the aim of reducing... ...

Kill quarterly reporting? Some investors ring alarm bells

Fri, Aug 17, 2018

Less reporting by U.S. corporations could put shareholders in the dark, allow companies to drift off course and even make U.S. stocks less attractive and create less public company investment, some... ...

U.S. value stocks capitalize on 'FANG' stumbles, with room to run

Fri, Aug 17, 2018

The summer roller-coaster in two of the four big-cap 'FANG' names - Facebook Inc, Inc, Netflix Inc and Google-parent Alphabet Inc - has led to a shift, albeit slight, into value stocks. ...

Investors flee risk as bear markets multiply: BAML

Fri, Aug 17, 2018

Investors pulled billions from equities this week, shifting into bonds and high dividend-yielding sectors as Turkey's currency crisis sparked a global selloff and emerging markets entered bear... ...

First crack at Musk could give top Tesla funds an edge

Thu, Aug 16, 2018

Information about Elon Musk's efforts to take Tesla Inc private is scarce. But some small investors wonder if top funds have an edge. ...

Reuters: Business

Noble Group founder declines executive director role in restructured firm

Sun, Aug 19, 2018

Embattled commodity trader Noble Group Ltd said on Monday that its founder, Richard Elman, will not take up a previously announced position as an executive director in the restructured company, citing "personal reasons". ...

Asia shares inch up with yuan, wary on Sino-U.S. talks

Sun, Aug 19, 2018

Asian share markets crept cautiously higher on Monday as investors awaited developments on proposed Sino-U.S. trade talks and the Chinese yuan rallied away from dangerous lows. ...

Trade war puts new strains on America Inc's factories in China

Sun, Aug 19, 2018

Larry Sloven arrived in southern China three decades ago, just as the region was taking off as the low-cost manufacturing center of the world. Since then, he has exported millions of dollars of goods, ranging from power tools to LED lights, to some of America's biggest retailers. ...

Global luxury brands again chase China's young, rich and spendthrift

Sun, Aug 19, 2018

Global luxury brands from Prada to LVMH are investing in China for the first time since a crackdown on conspicuous spending five years ago, focusing on smaller, less developed cities even as the world's second-largest economy slows. ...

Exclusive: Saudi PIF in talks to invest in aspiring Tesla rival Lucid - sources

Sun, Aug 19, 2018

PIF, the Saudi Arabian sovereign wealth fund that Tesla Inc CEO Elon Musk has said could help him fund a $72 billion deal to take his electric car maker private, is in talks to invest in aspiring Tesla rival Lucid Motors Inc, people familiar with the matter said on Sunday. ...

Iran says no OPEC member can take over its share of oil exports

Sun, Aug 19, 2018

Iran told OPEC on Sunday no member country should be allowed to take over another member's share of oil exports, expressing Tehran's concern about Saudi Arabia's offer to pump more oil in the face of U.S. sanctions on Iranian oil sales. ...

Iran says it is seeking solution to sell oil and transfer revenues: IRNA

Sun, Aug 19, 2018

Iran's vice president said on Sunday the government was seeking solutions to sell oil and transfer its revenues after the United States withdrew from a nuclear deal with Tehran and slapped fresh sanctions on Iranian energy and banking sectors. ...

VW's CEO was told about emissions software months before scandal: Der Spiegel

Sat, Aug 18, 2018

Volkswagen Chief Executive Herbert Diess was told about the existence of cheating software in cars two months before regulators blew the whistle on a multi-billion exhaust emissions scandal, German magazine Der Spiegel said. ...

China's Geely in deal to let Malaysia's Proton tap new-energy, other vehicle tech in global push

Sat, Aug 18, 2018

Chinese automaker Geely has agreed to extend its existing partnership with Proton Holdings Berhad to upgrade the Malaysia carmaker's line-up of cars and power Proton go beyond Malaysia, part of an ongoing effort to help Proton establish a presence in China and other international markets. ...

Chinese internet stock sell-off may shake faith in FANGs

Sat, Aug 18, 2018

A steep downturn in heavyweight Chinese internet stocks and recent weakness in half of the so-called FANG group have some investors worried that a key component of Wall Street's near-decade long rally may be low on fuel. ...