It’s now been nine years since the Fed has raised its benchmark interest rate which has essentially been at zero for quite some time. The job market is certainly better reaching its lowest jobless rate of 5.1% since early in the recession, but the quality of jobs and workers’ pay has not increased to any meaningful level. The housing market remains sluggish, certainly on new home starts. » Read More
The Department of the Treasury has proposed requirements for SEC registered investment advisers to establish anti-money laundering programs. The proposed rules would require a firm’s anti-money laundering program to be reasonably designed to prevent the firm from being used for money laundering or terrorist financing activities and to achieve compliance with provisions of the Bank Secrecy Act that would also become applicable to investment advisers.» Read More
In this week’s REWIND of international business news:
Tesla Stock Soars As One Of Its Vehicles Exceeds Highest Ratings
Tesla stock gained over 6% late in the week of August 24th on news that Consumer Reports rated its all-wheel drive, battery-powered Model S P85D vehicle a 103 (out of 100). The Model S P85D received this off the charts rating because of the vehicle’s “exceptionally strong performance.” Jake Fisher, Consumer Reports’ head of automotive testing, told Bloomberg: “This is a glimpse into what we can expect down the line, where we have cars with the performance of supercars and the comfort, convenience and safety features of a luxury car while still being extremely energy efficient.”
The Senate passed the short-term highway funding extension last week, and the bill was signed into law by the President on July 31, 2015. The new law modifies the due dates for several important tax returns as follows for tax years beginning after December 31, 2015.
Fincen Form 114 (the electronic FBAR) is now changed from June 30 to April 15. » Read More