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Over 70% industry respondents expect Budget to hike standard deduction limit: KPMG survey

Finance
NEW DELHI: A vast majority of industry respondents expect that the standard deduction limit for salaried individuals could be enhanced from the existing Rs 50,000 in the Budget next week, a KPMG in India survey said on Wednesday. A majority of respondents in the survey believe that with the government facing the prospect of significantly increased expenditure in the coming year, the revenue needs can be met through increased collections fuelled by an economic recovery as well as by improved technology-driven enforcement, rather than through the introduction of new taxes. A smaller number of respondents, however, expect a new COVID-19 cess. As many as 250 respondents across sectors participated in the KPMG in India's pre-budget Survey 2021-22. Asked what measures the government could adopt...
From doing yoga to charitable causes, how to lead a fulfilling life post-retirement

From doing yoga to charitable causes, how to lead a fulfilling life post-retirement

Finance
1/5Do yogaConstant monitoring and proactive action can postpone the onset of lifestyle diseases. “Today, many individuals are diagnosed with diabetes at the age of 25-30. It can be easily delayed by 10-20 years and in many cases prevented altogether with the help of diet and physical activities,” says Abhishek Shah, Cofounder and CEO, Wellthy Therapeutics. Take the case of 63-year-old retired banker Mahesh Nailwal. He has been practising yoga for the past two decades. “Regular expenses can spiral out of control if you have diabetes or other ailments. I barely need to spend money on medication thanks to my daily practice,” he explains.Getty Images2/5Keep diseases at bayPoor health results in expenses becoming unmanageable even if your postretirement income is high.” Data corroborates his cl

Here’s how wealthy families will save on estate taxes in the Biden presidency

Finance
Democratic candidates for Senate Jon Ossoff (L), Raphael Warnock (C) and US President-elect Joe Biden (R) bump elbows on stage during a rally outside Center Parc Stadium in Atlanta, Georgia, on January 4, 2021.Jim Watson | AFP | Getty ImagesWealthy Americans worried about the prospect of higher estate and gift taxes might have more time to come up with a strategy.With Jon Ossoff and Raphael Warnock both winning their Senate runoff elections in Georgia, the Democrats now have control — albeit precarious — of the Senate.That will help President-elect Joe Biden push his legislative agenda, and higher taxes are expected to be a major part of his plansThe estate tax could be a prime target for Democrats.Biden has repeatedly suggested that wealthy Americans are not paying their "fair share" of t

Xi’s speech shows how Biden faces a very different China

Finance
The flags of China, U.S. and the Chinese Communist Party are displayed in a flag stall at the Yiwu Wholesale Market in Yiwu, Zhejiang province, China, May 10, 2019.Aly Song | ReutersBEIJING — Less than a week into U.S. President Joe Biden's new administration, Chinese President Xi Jinping struck a confident tone Monday when he called for world leaders to cooperate more with China.Xi's keynote speech at the World Economic Forum's virtual Davos Agenda event comes as the world waits for a new phase in U.S.-China relations under Biden, following former President Donald Trump's single-handed approach.China is on track to surpass the U.S. as the world's largest economy in a few years and has gradually increased its global presence.Countries will fail if they operate alone, Xi said Monday. He did

How financing SPAC takeovers became Wall Street’s new favorite trade

Finance
Matteo Colombo | DigitalVision | Getty ImagesFor most investors these days, it's literally a "PIPE dream." PIPEs, or private investments in public equity, are mechanisms for companies to raise capital from a select group of investors outside the market. But as PIPEs are increasingly being deployed in conjunction with a surge in SPAC mergers, a larger group of fund managers are seeking access to this security, with limits on who and how many can invest. While SPACs, or special purpose acquisition companies, will tap the public markets to raise capital to fund a future takeover, PIPEs are allocated to a small group of investors. Managers of the funds participating in the PIPE will sign a non-disclosure agreement, with trading restrictions, and are brought over a proverbial "wall," ...