Beijing is levying a long-resisted property tax in some Chinese regions to guide house-buying as the regime seeks to tame a growing housing bubble. The Standing Committee of China’s rubber-stamp legislature on Oct. 23 authorized the State Council to start taxing property owners. The scheme will last five years, and the State Council will determine…
China Rolls Out Property Tax in Tackling a Real Estate Bubble
October 23, 2021
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China to Roll out Property Tax in Bid to Tame Surging Prices
October 23, 2021
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Beijing is levying a long-resisted property tax in some Chinese regions to guide house-buying as the regime seeks to tame real estate speculation. The Standing Committee of China’s rubber-stamp legislature on Oct. 23 authorized the State Council to start taxing property owners. The scheme will last five years, and the State Council will determine pilot…
Fed’s Powell Says It’s Time to Taper Bond Purchases, but Not Raise Rates
Federal Reserve Chair Jerome Powell on Friday said the central bank should start the process of reducing its support of the economy by cutting back on its asset purchases, but should not yet touch the interest rate dial. “I do think it’s time to taper; I don’t think it’s time to raise rates,” Powell said…
Is Tesla on Track to Deliver Apple-Like Gross Margins Amid China Demand Rebound? Bulls Munster and Ives React to Q3 Earnings
Tesla Inc.’s impressive third-quarter earnings and revenue beat despite the impact of chip shortage indicates a robust electric vehicle trajectory for the Elon Musk-led company in the current quarter and beyond, according to analysts from Loup Ventures and Wedbush Securities. Tesla Analysts Wedbush analyst Daniel Ives has maintained an Outperform rating and a price target…
Netflix Analysts Break Down Q3 Earnings: ‘Solid Recovery With Large Content Launches Ahead’
Netflix Inc. shares traded lower Wednesday after the company reported a third-quarter earnings beat. Netflix reported third-quarter adjusted earnings per share (EPS) of $3.19, beating consensus analyst estimates of $2.56. Third-quarter revenue was $7.48 billion, up 16.3 percent from a year ago and in-line with analyst estimates. Netflix also reported 4.4 million net new paid…
Analysis: Was Barclays’ Disney Downgrade a Bad Call?
October 19, 2021
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News that Barclays analyst Kannan Venkateshwar downgraded Walt Disney Co. from Overweight to Equal-Weight with a price target of $175, down from $210, caught many investors by surprise and caused the stock to sink by 3 percent in Monday’s trading. What Happened Venkateshwar said this downgrade was justified based on a perceived slowing of the…
Dollar Drops as Rate-Hike Bets Profilerate Elsewhere, Yuan Hits 4-Month Peak
October 19, 2021
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LONDON—The dollar retreated on Tuesday to a three-week low, hit by a proliferation in rate-hike bets in other markets, while the yuan surged to its highest in four months, benefiting from greenback weakness and a slight easing in property market concerns. A robust start to the U.S. earnings season and hopes that China will be…
Futures Rise as Upbeat Earnings Boost Risk Appetite
October 19, 2021
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U.S. stock index futures rose on Tuesday as an upbeat profit forecast from Johnson & Johnson added to the positive momentum in corporate earnings generated by big banks last week. Johnson & Johnson’s shares rose 1.7 percent after it raised its 2021 adjusted profit forecast, even as it stuck to its outlook of $2.5 billion…
Wall Street Rises as Earnings Whip Up Risk Appetite
October 19, 2021
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U.S. stock indexes rose on Tuesday as upbeat results from Johnson & Johnson and Travelers fired up risk appetite, after big banks kicked off the third-quarter reporting period on a positive note last week. The benchmark S&P 500 index is now less than 1 percent away from a record high hit in early September, with…
European Stocks Inch Up as Tech, Mining Shares Offset Losses in Ericsson
October 19, 2021
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Europe’s main stock index edged higher on Tuesday as gains in mining and technology shares helped offset losses in Sweden’s Ericsson, which reported a hit from global supply chain problems. The pan-European STOXX 600 rose 0.2 percent, with miners, utilities, and technology stocks leading morning gains. Technology shares were also behind a rise in main…
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