California Democrats are pushing for a new tax on the state’s wealthiest residents that includes the ability to tax them even after they’ve left the state for places like Florida or Texas—or even after they move out of the country. State Rep. Alex Lee introduced the Wealth Tax Act as Assembly Bill 259 and Assembly…
California’s New Wealth Tax Plan Targets Wealthy Even If They Flee to Another State
January 24, 2023
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21 Attorneys General Warn Proxy Advisory Firms to Abide by Legal Duties, Drop ESG Practices
A 21-state coalition of Republican attorneys general have written to two third-party proxy advisory companies, Institutional Shareholder Services (ISS) and Glass Lewis, challenging their environmental, social, and governance (ESG) practices. The coalition, led by Utah Attorney General Sean D. Reyes, raised concerns about whether the two firms’ ESG considerations affect proxy voting recommendations that conflict with the financial…
Will More Chinese Buyers Flood US Real Estate Market as China’s Borders Reopen?
The first time since the beginning of the pandemic, China’s borders have recently reopened, allowing tourists and potential international homebuyers to travel freely throughout the globe. And according to Juwai IQI, one of the largest global real estate platforms with almost 13 million monthly consumer engagements, the United States is the second most popular home-buying…
Chinese Buyers Might Flood US Real Estate Market as China’s Borders Reopen
China’s borders have recently reopened for the first time since the beginning of the pandemic, allowing the world’s largest source of tourists and potential international homebuyers to travel freely around the globe. The United States is the second-most popular home-buying destination for Chinese buyers, according to Juwai IQI, one of the largest global real estate platforms…
NFIB Survey Suggests a Recession Is Coming
Commentary The most recent survey from the National Federation of Independent Business (NFIB) is sending a strong signal of an economic recession. In 2019, the NFIB survey, combined with an inverted yield curve, suggested an impending recession. In 2020, those signals became a reality. As in 2019, we see many of the same warning signals…
Netflix Co-Founder Steps Down as CEO: ‘The Board and I Believe It’s the Right Time’
Netflix co-founder Reed Hastings stepped down as CEO this week, stating: “The board and I believe it’s the right time.” Hastings stepped down as chief of the online streaming service, handing control over to his longtime colleague and co-CEO, Ted Sarandos, and his COO, Greg Peters, Reuters reported. The co-founder decided to step down as Netflix…
Cryptocurrency Lender Genesis Files for Bankruptcy Months After FTX Collapse
Cryptocurrency lender Genesis Global filed for bankruptcy on Jan. 19, making it the latest company to do so following the collapse of FTX in November. The lender announced it had filed for Chapter 11 bankruptcy protection in a press release, stating that the move was part of “strategic actions to achieve a global resolution to maximize value…
FTX Token Rallies After New Chief Says Bankruptcy Exchange Could Restart
FTT, the native digital token for bankrupt cryptocurrency exchange FTX, rallied as much as 35 percent on Thursday after a report revealed that new CEO John J. Ray III is considering restarting the platform. According to The Wall Street Journal, Ray has established a team to look at resuscitating FTX.com, the website that maintains non-U.S….
Climate Poses Difficult Problem for Central Banks Given Long-Term Nature
News Analysis Central banks have their eye on climate change developments but are unequivocal in their understanding that it falls outside their mandate of ensuring stable prices. Nevertheless, central bankers strive to address the roles they think they must play and some of the thorny issues therein, such as independence from government and communications with…
British Politician Warns That Corporate ESG Policies Are Being Used to Penalise Political Views
Insurgent parties are warning that banks’ environmental, social, and governance (ESG) policies are being used to penalise certain views such as critiquing net zero policies. The leader of the Reform Party Richard Tice told The Epoch Times that his commercial mortgage was refused last year because of his outspokenness on net zero policies, which went…
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