Corporate

At a meeting on Friday, the Corporation decided to develop over 45,000 quarantine spaces for cocooning elders and extended contacts. It has intensified fever surveillance in all the 200 wards to contain the spread of COVID-19. Fever clinics have been set up in all localities. … [Read more...] about Coronavirus | Chennai Corporation begins work on largest care centre

The measures to reduce corporate operating costs include pension payment relief for enterprises, interest rate reduction by State-owned commercial banks and price reduction in natural monopoly industries. The monetary scale of these measures is expected to be twice the amount of the increased central government budget deficit and the central government special bond for COVID-19 control and prevention, which is worth about 2 trillion yuan ($280 billion), according to Li. … [Read more...] about Measures coming to reduce corporate operating costs: Premier

Where do the tax cuts leave the government and the fisc? Ms. Sitharaman said that the revenue foregone is ₹1,45,000 crore. This is very significant, especially in the context of the over-estimation of revenues in the Budget and the under-performance in terms of tax collections so far this year. The 2019-20 Budget assumes net tax revenues of ₹16.49 lakh crore, which is a rather ambitious 25% growth estimate over the actual revenues of ₹13.16 lakh crore in 2018-19. If the revenue foregone now is weighed against this unrealistic Budget target on which the fiscal arithmetic is based, the outlook for the projected deficit this year will be scary for sure. It is a no-brainer that the deficit target of 3.3% for this fiscal is unattainable, as things stand. The bounty of ₹1.75 lakh crore received from the Reserve Bank of India as dividend is obviously a cushion and it is this money that the government has now given away. But if the fiscal deficit target is to be met, … [Read more...] about A deep cut: On corporate tax cuts

The US central bank now has a stake in the fortunes of a broad swath of corporate America after buying about $1.3 billion of bond funds with debt issued by firms in all walks of the world's biggest economy, from Apple Inc to a clutch of companies in bankruptcy. The details on holdings in the Fed's Secondary Market Corporate Credit Facility, one of nearly a dozen emergency programs the Fed has rolled out since March to respond to the coronavirus crisis, were published Friday. The Fed's largest investment-grade fund holding - iShares iBoxx US Dollar Investment Grade Corporate Bond ETF - contains 30 Apple bonds giving the Fed about $5.7 million of exposure to the maker of iPhones through that ETF alone as of May 19. Apple is also a holding in other ETFs the Fed bought. The largest of the facility's junk bond fund holdings - iShares iBoxx High Yield Corporate Bond ETF - gives the Fed around $25,000 of exposure to three companies that have filed for bankruptcy since the health crisis … [Read more...] about In rescue effort, Fed has broad stake in corporate America’s fortunes

Democratic leaders and Indian- American lawmakers have labelled the tax bill passed by the US Congress as "tax scam", as it robs future of the children, ransacks the middle class and rewards one per cent of corporate America. The entire Democratic party voted against the tax reform bill. The passage of the bill by the Senate and House of Representatives is considered to be the first major legislative victory for President Donald Trump, after coming to power. "The GOP tax scam robs from our children's future and ransacks the middle class in order to reward the top one per cent and corporate America," Democratic leader Nancy Pelosi said reflecting the sentiments of her party members. Trump's Republican Party enjoys majority in both the chambers of the US Congress - House of Representative and the Senate. "Now we know they're popping champagne down Pennsylvania Avenue," Pelosi said referring to the celebrations inside the White House. "There are only two places where America is … [Read more...] about Tax reforms a scam, rewards corporate America: Democrats