‘Diamond’ Joe Gutnick’s company insolvent after ‘dishonest’ transactions

The Federal Court has ordered that a company associated with Melbourne business figure "Diamond" Joe Gutnick be wound up and declared insolvent amid allegations of millions of dollars of dishonest related party transactions. The Federal Court on Wednesday appointed liquidators to the publicly traded mining company Merlin Diamonds Limited after a provisional liquidators' report showed it had just $1331 in […]

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Democrats Urge Trump To Follow Through On Oversight Of Corporate Bailouts

WASHINGTON ― Top Democrats are urging the Trump administration to quickly appoint a special inspector general in charge of scrutinizing aid to major corporations under the $2 trillion economic rescue package Congress passed last week. The massive coronavirus aid package, which includes direct payments to many Americans as well as loans to struggling small businesses, set up three mechanisms to […]

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European Shares Seen Up After US Stimulus Deal

European stocks are likely to open higher on Wednesday after the U.S. Senate passed a nearly $2tn stimulus package to help rescue the American economy ravaged by the coronavirus pandemic. The bill now goes to the House, where Democrats have introduced their own proposal. The upside, however, may remain limited against the backdrop of continued coronavirus spread. The highly contagious […]

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Bailing Out the Bailout

“I’ve never signed anything with a ‘T’ before,” Donald Trump quipped at the signing of the $2 trillion CARES Act. He reportedly wants his signature on coronavirus relief checks, as if they were Trump Plaza casino chips. This might be a fitting metaphor for America’s post-virus economic future. The new bailout bill, which combined with a series of Federal Reserve interventions […]

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Senators urge U.S. airlines to issue ticket refunds after bailout

Fox Business Flash top headlines for March 31 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Get all the latest news on coronavirus and more delivered daily to your inbox.  Sign up here. Continue Reading Below WASHINGTON - Nine Democratic U.S. senators on Tuesday urged the chief executives of 11 major airlines to issue full cash refunds […]

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Trump Set to Announce 90-Day Deferral for Some Tariff Payments

President Donald Trump approved a proposal pushed for by some businesses to delay payment of certain tariffs by three months, according to people familiar with the matter. The announcement to defer levies for so-called most-favored nation duties will come in the form of an executive order, one of the people said. The order, which could come as soon as this […]

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Lawmakers Ask Trump To Suspend Sanctions To Help Iran Fight Coronavirus

The Trump administration should suspend sweeping U.S. sanctions on Iran that are hindering the country’s response to its massive coronavirus outbreak, more than 30 lawmakers said in a letter to top officials on Tuesday. The sanctions could be costing lives in Iran, which is enduring one of the largest flare-ups of the pandemic in the world. Thus far, more than […]

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Inheritance tax rules change in mere days – will your threshold rise?

Inheritance tax is levied on estates valued over £325,000, which is called the nil rate band. Estates valued lower than this amount will not face any charge. READ MORE Inheritance Tax reform ‘into long grass’ amid Budget and coronavirus On top of the nil rate band, a “residence” nil rate band has also been recently introduced. This residence nil rate […]

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