finance news

Finance

G-7 finance chiefs unite to condemn Russia and counter China

Under the shadow of swelling risks to the global economy, finance chiefs from the world’s wealthy nations presented a united front with more support for Ukraine, a plan for diversifying supply chains and a vow to fill gaps in financial regulation.

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The Group of Seven’s ease in agreeing on a statement after three days of talks in Niigata, Japan, was in stark contrast with the discord seen at the Group of 20 finance ministers and central bank governors meeting in Bengaluru, India, less than three months earlier, which ended without the usual communique.

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The difference: no China or

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by s1mple•14/05/2023

Finance

Future Returns: Finance Options for an Overseas Luxury Property

If you’re hoping to buy a vacation or investment property outside the US, you’re sharing that dream with numerous other wealthy individuals.

In a survey of more than 2,000 high-net-worth Americans by Coldwell Banker Real Estate, 92% actively looked at real estate overseas in 2022 and 67% of those surveyed already own residential property outside the US

“We have numerous clients ask us about financing vacation homes abroad,” says Jonathan Kessler, executive vice president, head of credit and cash management solutions for PNC Private Bank. “While we don’t do residential lending outside the US, we offer multiple tools they can

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by s1mple•26/04/2023

Finance

Commercial real estate faces a brutal combo of higher rates, tighter lending, and looming debts

miami real estate — Commercial real estate in Miami.Carlos Barria/Reuters

US commercial real estate faces higher interest rates, tighter lending, and maturing debts.
The sector’s woes may hit asset prices and spread to other industries, an expert at Goldman Sachs says.
If the authorities don’t help, there could be severe fallout from the current situation, said Jeff Fine.

Brutal headwinds are buffeting US commercial real estate, threatening to hit prices and hammer the wider economy, Goldman Sachs strategists have warned.

The CRE sector is navigating a “nearly perfect storm” of much higher interest rates, a credit crunch, and about $1 trillion of debt

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by s1mple•20/04/2023

Finance

Alabama Gov. Kay Ivey to request increases in state budgets; caution urged

Alabama’s state finance director said today Gov. Kay Ivey would request increases in the state’s General Fund and education budgets but cautioned that lawmakers should prepare for leaner times.

Finance Director Bill Poole gave a presentation to lawmakers on the budget committees on the first day of the legislative session.

Poole and Legislative Fiscal Officer Kirk Fulford, whose presentation included state and national economic trends, both said an unusual surge in tax revenues the last couple of years is ending and that legislators should budget accordingly.

Poole said the governor’s requested education budget calls for spending $8.79 billion from the

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by s1mple•07/03/2023

Finance

TikTok can serve up bad tax advice, tax pros warn

Some Americans are turning to social media for tax advice, ranking tax pros who point out that some of those tips are misleading or flat out wrong.

The hashtag taxes — or #taxes — trended on TikTok in the last two weeks, boosting its rank to number three on the financial services chart, surpassing another popular search, #emoney. In the last seven days, content related to taxes and the IRS generated 41 million views on the social media platform.

A quick tour reveals popular videos sharing “secret tax tips” or “deductions you didn’t know.” These range from ways to use

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by s1mple•19/02/2023

Finance

Biggest 2023 predictions from Yahoo Finance readers

Yahoo Finance senior columnist Rick Newman shares some of the biggest predictions for 2023 submitted by Yahoo Finance readers.

Video Transcripts

[AUDIO LOGO]

JARED BLIKRE: Welcome back. Yahoo Finance readers have been weighing in with their predictions for what might be in store in the new year. Senior columnist Rick Newman is here to break them all down for us. And, Rick, when it comes to methodology, just give us a little background here. You told us over the break, you spent– you read, you personally read thousands of these responses.

RICK NEWMAN: I did, yeah. I read all of

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by s1mple•16/02/2023

Finance

Prospects rise for NY charges against Trump in Stormy Daniels case

New York District Attorney Alvin Bragg’s latest moves suggest prosecutors are nearing a decision about charging former President Trump in connection with a $130,000 hush payment to adult film star Stormy Daniels before the 2016 presidential election.

The Manhattan district attorney’s office this week escalated the fight by empaneling another grand jury in the case and presenting witnesses.

Legal experts and a former colleague of Bragg’s said the Democratic attorney’s actions indicate prosecutors are edging closer to possible charges against Trump.

“If they were actually presenting witnesses, the first thing I said would be, ‘Oh, this is real. They’re going

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by s1mple•05/02/2023