DIRS.INFO The most relevant business & tech news

☆ President Trump made many tax cut promises. Even with GOP sweep, they won't be easy for Congress to keep
▼ + stars: | 2024-11-11 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +15 min

"Look at which tax cuts were getting the most focus on the campaign trail. A traditional GOP tax policy might be thought of as favoring business tax cuts. "The top priority is extending the Trump tax cuts and the signature part of his program. Notably, House Speaker Mike Johnson has voiced support for the traditional view of funding tax cuts through economic growth. Individual tax cuts versus Social Security, business tax breaksHistory shows that when it comes to the battle between individual and business tax cuts, contrary to popular perception, individual tax issues are always politically dominant issue.

Persons: Donald Trump, Mnuchin, Stamper, Dustin Stamper, Grant Thornton, Rohit Kumar, Mitch McConnell, Trump, Kumar, Mike Crapo, Mike Johnson, It's, PwC, Biden, John Paulson, Paulson, Elect Trump, Joe Manchin, Kamala Harris, Elon Musk Organizations: Van Andel, Trump, GOP, Representatives, Idaho Republican, Senate, Capitol, Social Security, Child Tax, Corporations, New York Times, Republican, Social, Tax, Republicans, Democrats, West, CBO, IRS, Defense, Federal Reserve, Washington , D.C Locations: Grand Rapids , Michigan, U.S, Idaho, West Virginia, Washington ,

☆ A Tesla trader turned $65,000 into $306 million before losing it all, according to a lawsuit
▼ + stars: | 2024-10-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

A Canadian trader turned $65,000 into $306 million by betting on Tesla during the pandemic. The trader is suing RBC and Grant Thornton, claiming he received "inadequate advice" that led to huge losses. AdvertisementA trader from Vancouver Island, Canada, minted a fortune betting on Tesla stock before losing everything, according to a lawsuit filed against RBC and tax advisory firm Grant Thornton LLP last week. But when Tesla stock plunged in 2022, DeVocht was forced to sell Tesla stock at depressed prices to pay back those margin loans. RBC and Grant Thornton LLP told media outlets that they do not comment on active lawsuits before the courts.

Persons: Grant Thornton, —, Christopher DeVocht, DeVocht, Tesla Organizations: Tesla, RBC, Service, Royal Bank of Locations: Vancouver Island, Canada

☆ There may be little to recover in the $300 billion Evergrande debt saga
▼ + stars: | 2024-01-29 | by ( Huileng Tan | Nidhi Pandurangi | ) www.businessinsider.com time to read: +5 min

Read previewChina Evergrande — the world's most indebted property developer — received a liquidation order from a Hong Kong court on Monday, but there may be little left to recover, said experts. Hong Kong-listed China Evergrande Group's stock price plunged 21% before the court hearing. But several experts BI spoke to prior to Monday's court order said Evergrande's liquidation will be challenging. AdvertisementIt's bad news for creditors, Mat Ng, the managing director at Grant Thornton, a professional services firm that specializes in restructuring, told BI. Despite the complications that could come with Evergrande's liquidation, there may be some upside in the longer run.

Persons: —, Evergrande, Liquidators, Linda Chan, Chan, Siu Shawn, Mat Ng, Grant Thornton, Ng, That's, John Bringardner, Bringardner, Daniel Margulies, Margulies, Andrew Collier Organizations: Service, Business, Evergrande, Reuters, Trading, Securities Times, Deloitte, Investors, Orient Capital Research Locations: China, Hong Kong, Evergrande, Asia

ORLANDO, Fla. (AP) — It took only four rounds for Lydia Ko to put a dismal 2023 LPGA Tour season completely behind her. Ko, who finished at 14-under 274, won for the 20th time on the LPGA Tour. The 26-year-old from New Zealand became the seventh woman to win 20 LPGA titles before turning 27. Each regular LPGA win is worth one point. Sunday’s final margin was two shots, but Ko remained in control throughout the final round, played amid unseasonably cool temperatures that dipped into the 40s.

Persons: Lydia Ko, Ko, “, ” Ko, Ko tugged, Grant Thornton, Jason Day, ”, Jody Ewart, Shadoff, birdies, Pano, Canada’s Brooke Henderson, Cheyenne Knight, Ally Ewing, Ayaka Furue, Laura Davies, Cristie Kerr, Juli Inkster, Jeff McNeal, Annika Sorenstam, McNeal, ___ Organizations: Alexa, LPGA, Hall of Fame, Grant Thornton Invitational, Nona, Business, Cheyenne, Lake Nona, New York Mets, Hall of Famer, Hilton Locations: ORLANDO, Fla, Lake Nona, New Zealand, Bradenton, Northern Ireland, Lake

☆ Bain Capital to buy consulting firm Guidehouse in $5.3 bln deal
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. REUTERS/Kim Kyung-Hoon/FIle photo Acquire Licensing RightsNov 6 (Reuters) - Private equity firm Bain Capital will acquire government and business consulting firm Guidehouse in a deal valued at $5.3 billion, the companies said on Monday. Bain Capital declined to comment on specific terms of the Guidehouse deal, when contacted by Reuters. Guidehouse has been owned by Veritas Capital since 2018, when the PE firm acquired Big Four firm PwC's U.S. public sector business and rebranded it as Guidehouse. It also agreed to acquire 90% of India's Adani Capital and Adani Housing, buying out all of the Adani family's private investments in the company.

Persons: Kim Kyung, Guidehouse, Grant, Pritam Biswas, Devika Nair, Savio D'Souza, Shailesh Organizations: Bain Capital, REUTERS, U.S . Department of Defense, Homeland Security, Reuters, Veritas Capital, Big, Macquarie, Dovel Technologies, Chindata, Adani, Thomson Locations: Tokyo, Japan, United States, Bengaluru

Evergrande's lawyer said the company was working on a revised plan to "monetise the value" of its two Hong Kong-listed units - Evergrande Property Services Group (6666.HK) and Evergrande New Energy Vehicle Group (NEV) (0708.HK). Sources familiar with the matter told Reuters that plan included allowing Evergrande creditors to swap their debt into equity and bonds tied to these units. Evergrande, Evergrande Property Services and Evergrande NEV declined to comment. "Why would those shareholders want to see new debt issued to replace the existing debt issued by Evergrande, what is the benefit for them?" Evergrande's initial $23 billion offshore debt restructuring plan was thrown off course last month when its billionaire founder Hui Ka Yan was confirmed to be under investigation for suspected criminal activities.

Persons: Aly, Evergrande NEV, Mat Ng, Grant Thornton, Evergrande, Hui Ka Yan, Clare Jim, Xie Yu, Scott Murdoch, Miral Organizations: China Evergrande Group, REUTERS, Hong, Evergrande, Services, HK, New Energy Vehicle Group, Reuters, Evergrande Property, Thomson Locations: China, Shenzhen, Guangdong province, HONG KONG, HK, Hong Kong, Grant Thornton Hong Kong, SYDNEY

How can someone that talented go more than four years without winning on the LPGA Tour? It's not about how many men Thompson beat over 36 holes. Golf is one of the few sports that allows for men and women playing together, and the PGA Tour is just now getting up to speed. Men and women compete for one prize (the women play from a shorter set of tees). There was chatter several years ago about combining the Tournament of Champions at Kapalua for winners from the PGA Tour and LPGA Tour.

Persons: Lexi Thompson, Thompson, —, It's, Michelle Wie, Adam Scott, Butch Harmon, Wie, Grant Thornton, Rickie Fowler, JC Penney, John Daly, Laura Davies, Linn Grant, it's, — Nelly Korda, ___ Organizations: PGA, LPGA, Shriners, Globe, Solheim, Sony, Grant, Grant Thornton Invitational, PGA Tour, JC, Australian, European Tour, Ryder, IOC Locations: Las Vegas, Europe, Sweden, Florida, Los Angeles

Historically, doctors’ practices have been relatively small, and owned by doctors themselves. Hospitals and insurance companies have also bought out many independent physicians’ practices. Optum, an arm of the publicly traded UnitedHealth Group, which also owns one of the nation’s largest insurers, employs roughly 70,000 physicians. Private equity is often viewed by physicians as an attractive alternative to having their practice bought by a hospital. “It can be a really good thing, but the private equity firms have to keep their promises and be held accountable,” she said.

Persons: ’, “, ”, Richard Scheffler, Lisa Walkush, Grant Thornton, Michael Kroin Organizations: Physicians, Institute, Petris, . Hospitals, UnitedHealth Group, Growth Partners Locations: U.S, Berkeley, Chicago

Electric vehicles drove that change. In the first quarter of 2023, Russians purchased more Chinese cars than Lada, the beloved Soviet-era marque. That helps Chinese manufacturers churn out an electric vehicle for around 10,000 euros less than European competitors, according to Grant Thornton. Among the growing list of unwelcoming policies, the European Commission’s trade defence unit is considering ways to stem the tide of Chinese electric vehicle imports, according to Politico. How far China’s carmakers can make inroads further West will be decided by much more than assessments of their competency.

Persons: Bill Russo, Nio, Grant Thornton, Bernstein, Emmanuel Macron, CATL, Una Galani, Thomas Shum Organizations: Reuters, HK, Volkswagen, World Trade Organization, International Energy Agency, Global Times, Beijing, Lada, Chery, Amperex Technology, Politico, Ford Motor, Toyota, Nissan, Twitter, Thomson Locations: HONG KONG, BYD, People’s Republic, Europe, China, Shanghai, Hong Kong, New York, Japan, London ., European, United States, North America, France, Thailand, West

☆ Grant Thornton Is Laying Off 300 U.S. Employees as Consulting Demand Falls
▼ + stars: | 2023-05-27 | by ( Mark Maurer | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/grant-thornton-is-laying-off-300-u-s-employees-as-consulting-demand-falls-7c0e5110

☆ Short investor Hindenburg erases fifth of Icahn empire’s value
▼ + stars: | 2023-05-02 | by ( ) edition.cnn.com time to read: +4 min

In a report published on Tuesday, Hindenburg accused IEP of overvaluing its holdings and relying on a “Ponzi-like” structure to pay dividends. The subsequent plunge in IEP shares wiped $2.9 billion off Icahn’s net worth, leaving him with an estimated $14.7 billion, according to Forbes. NAV is a key gauge of a fund’s performance, measuring the market value of securities held by the fund. Driving the frothiness in IEP’s stock, Hindenburg argued, is its dividend yield of 15.8%, the highest of any US large cap company by far. Hindenburg also offered examples it said showed IEP itself was valuing its holdings way above their market value.

In a report published on Tuesday, Hindenburg accused IEP of overvaluing its holdings and relying on a "Ponzi-like" structure to pay dividends. The subsequent plunge in IEP shares wiped $2.9 billion off Icahn's net worth, leaving him with an estimated $14.7 billion, according to Forbes. NAV is a key gauge of a fund's performance, measuring the market value of securities held by the fund. Driving the frothiness in IEP's stock, Hindenburg argued, is its dividend yield of 15.8%, the highest of any U.S. large cap company by far. Hindenburg also offered examples it said showed IEP itself was valuing its holdings way above their market value.

☆ Indian shares set to rise ahead of U.S. inflation data
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 14 (Reuters) - Indian shares are set to open higher on Tuesday, tracking the gains in global equities ahead of U.S. inflation data due later in the day, with a rise in domestic retail inflation in January above the Reserve Bank of India's upper threshold likely capping the move up. Wall Street equities closed higher on Monday, as investors expected consumer price index (CPI) data for January to ease. STOCKS TO WATCH** FSN E-Commerce Ventures (FSNE.NS): Co posts slide in consolidated net profit in Q3 on high expenses. ** Zee Entertainment (ZEE.NS): Co reports fall in consolidated net profit in third quarter on slide in ad spends and rise in costs. ** Steel Authority of India (SAIL.NS): Co reports fall in consolidated net profit in Q3** Power Finance Corporation (PWFC.NS): Co reports rise in consolidated net profit in Q3.

☆ Adani crisis: Modi's party has 'nothing to hide', says India home minister
▼ + stars: | 2023-02-14 | by ( Sudipto Ganguly | ) www.reuters.com time to read: +3 min

[1/2] BJP President Amit Shah and Indian Prime Minister Narendra Modi are seen after the election results in New Delhi, India, May 23, 2019. The Adani group has denied the allegations and threatened legal action against Hindenburg. Without referring to Adani, Modi told parliament last week that the "blessings of 1.4 billion people in the country are my protective cover and you can't destroy it with lies and abuses", as opposition lawmakers chanted "Adani, Adani". Adani Power (ADAN.NS) and Adani Green Energy (ADNA.NS) fell too in a wider Mumbai market (.NSEI) that was up slightly. India's Economic Times daily reported on Tuesday that Adani group executives had been holding negotiations since last week with Abu Dhabi's International Holding Corp (IHC) for capital infusion into Adani Enterprises or other group entities.

Adani Group said last week it was considering independent evaluation of issues relating to legal compliance, related party transactions and internal controls following the Hindenburg report. Grant Thornton has been hired to conduct independent audits of some Adani Group companies, said the sources, declining to be named as the appointment is confidential. One of the sources added that Grant Thornton would look at whether related-party transactions at the Adani Group complied with corporate governance standards. Grant Thornton and Adani Group did not immediately respond to a request for comment. In its rebuttal, Adani had said "all related party transactions are at arm's length, properly disclosed and reviewed/audited by statutory independent auditors."

☆ House lawmakers relaunch the SALT caucus. Here's what to know about the $10,000 deduction limit for state and local taxes
▼ + stars: | 2023-02-13 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Rep. Bill Pascrell, D-N.J., speaks at a news conference announcing the state and local taxes caucus outside the Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty ImagesA group of bipartisan House representatives relaunched the SALT caucus last week, calling for relief from the $10,000 limit on the federal deduction for state and local taxes. Without an act of Congress, the $10,000 limit will sunset after 2025, but members of the SALT caucus want to see changes sooner. With a slim Democratic House majority, the SALT cap was a sticking point during Build Back Better negotiations, and lawmakers in November 2021 passed an $80,000 SALT cap through 2030 as part of their spending package. More than 30 states have a SALT cap workaround

☆ How the market is rating the risk of debt ceiling default and a divided, dysfunctional Congress
▼ + stars: | 2023-01-27 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +13 min

That would be the worst-case outcome, of course, but even the best case will probably see the sort of brinksmanship that occurred in the 2011 debt ceiling crisis." From the Senate, Mitch McConnell recently said it's an issue for Biden and the House GOP to work out. Kevin Brady , the former top Republican on the House Ways and Means Committee, dismissed talk of debt default as "fear mongering." Narrowness of GOP House majority does matterJPMorgan also referred to the path for a political agreement as being "narrow." In 2013, the Federal Reserve ran a simulation of a debt default by the U.S. government.

☆ Regulator Warns Hong Kong Companies About Auditor Resignations
▼ + stars: | 2022-10-27 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +4 min

Hong Kong’s accounting regulator is sounding the alarm over a surge in auditor resignations a month before or after a company’s reporting period ends. So-called “late auditor resignations,” which increased to 107 during the nine months ended Aug. 31 from 71 in the same period a year earlier, can jeopardize audit quality, the Accounting and Financial Reporting Council said Thursday. Audit firm resignations, and changes in general, are rare in the U.S., where companies are not required to switch firms after a certain number of years. In March, Enterprise Development announced annual results for the period that ended in December audited by Hong Kong accounting firm BOFA CPA Ltd. “We are concerned that audit quality may be compromised by late auditor resignations because the incoming auditor will have limited time to plan and conduct a proper audit in order to meet the listed entity’s deadline to announce their audited results,” she added.

Search resuls for: "Grant Thornton"

18 mentions found