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If you are donating a car to charity, pump the brakes and be sure to take these 8 steps

If you are donating a car to charity, pump the brakes and be sure to take these 8 steps

Finance
Thinking of donating your clunker to charity for a nice tax deduction? Proceed with caution.The gifting of used cars to "charities" has become a favorite way for Americans to dispose of unwanted vehicles. And why not? You can avoid the headache of selling or junking the car, help a charitable cause and lower your tax burden all at the same time.Unfortunately, the experience is rarely, in reality, such a win-win situation. Not only do charities typically see little of the proceeds from a used car sale, but donors can run afoul of the taxman if they're not careful."At the end of the day, donating a used car could be the least cost-effective way to give to a charity," said Stephanie Kalivas, an analyst with CharityWatch, an organization that monitors the charitable giving industry.The problem...
Icahn in activist move takes 13% stake in SandRidge Energy, DJ reports

Icahn in activist move takes 13% stake in SandRidge Energy, DJ reports

Finance
Carl Icahn has bought a 13 percent stake in SandRidge Energy, becoming the latest shareholder to oppose the company's deal to acquire Bonanza Creek, according to a Securities and Exchange Commission filing.SandRidge is an oil exploration and production company based in Oklahoma City. Last week, it announced a $ 746 million deal to buy rival Bonanza Creek. But the activist investor Fir Tree Partners, which owns more than 8 percent of SandRidge, on Monday said it opposed the deal, saying the price is too high.Icahn also has stakes in CVR Energy and Cheniere Energy.Dow Jones first reported the stake, citing sources.Let's block ads! (Why?) Finance
China is pumping a lot of cash into its economy to calm investors

China is pumping a lot of cash into its economy to calm investors

Finance
China has been pumping a lot of cash into its system to lift market sentiment, as the world's second-largest economy walks a thin line between curbing debt and keeping everything running smoothly.Last week, the People's Bank of China injected cash totaling 810 billion Chinese yuan ($ 122.4 billion) in five straight days of daily liquidity management operations. Those actions, which represented the largest weekly net increase since January, were in part a Beijing response to its 10-year sovereign bond yields spiking to multiyear highs, experts said."Surging Chinese government bond yields hit the nerve of policymakers, so in order to further prevent a greater surge, they injected liquidity into the system to improve market sentiment," said Ken Cheung, a foreign exchange strategist at Mizuho ...
The case for reforming airport-slot allocation

The case for reforming airport-slot allocation

Finance
GULLIVER is back from the 141st Slot Conference in Madrid, a meeting of airlines and airport co-ordinators run by the International Air Transport Association (IATA), an airline lobby group. In this week’s issue, he opened the lid on how landing and take-off slots are allocated at congested airports around the world:Instead of letting airports decide who would use their runways and when, the system was designed to have schedules hammered out by committees of airlines. In the 1960s, as growing traffic started to fill up some airports, the committees became a way of parcelling out the most prized slots.Since the 1970s, allocation has been steered in most countries by IATA’s “Worldwide Slot Guidelines”. These state that an airline can keep a given slot from the previous season as long as it us
Senate, unlike House, would keep mortgage deduction intact

Senate, unlike House, would keep mortgage deduction intact

Finance
New details of GOP tax planSenate Republicans have a message for their House counterparts: leave the mortgage interest deduction alone. On Thursday, Senate Republicans unveiled their version of a tax reform bill, and it retains the current tax break that allows homeowners to deduct interest on mortgages up to $ 1 million,according to initial materials from the Senate Finance Committee. That's in contrast to the House bill proposed last week, that would limit the deduction to home loans over $ 500,000. That lower cap would have only applied to new mortgages. As lawmakers work to merge their two plans, a new limit could emerge on how much mortgage interest homeowners can deduct. So far this year, 5.4% of all loans originated were more than $ 500,000, according to data from ATTOM Data Solu...