New York Financial News

John Tavares’ $8-million tax dispute with the Canada Revenue Agency, arguing the Toronto Maple Leafs captain is offside.In a reply to Tavares’ appeal with the Tax Court of Canada, the Attorney General of Canada (AGC) is disputing Tavares’ ask to have the CRA’s reassessment of his 2018 tax return annulled.The CRA, according to Tavares’ appeal filed in January, determined his 2018 income was $17.8 million higher than reported, and ordered the player to pay $6.8 million in taxes — over 38 per cent — plus $1.2 million in interest.The 33-year-old from Mississauga, Ont., signed a seven-year, US$77-million contract to join the Leafs on July 1, 2018. He previously played for the New York Islanders from 2009 to 2018.The $17.8-million sum accounts for a US$15.25-million signing bonus in the contract’s first year, and “was integral to Tavares’ decision” to accept the deal, his appeal states.The court document added Tavares’s signing bonus “was an inducement to sign an agreement relating to the performance of an athlete,” and should not be considered as salary or wages.The AGC took issue with that in its reply filed late last month.“With respect to the entirety of the Notice of Appeal, the Attorney General of Canada (AGC) denies that any amount referred to as a ‘signing bonus’ was a signing bonus or an inducement payment,” it reads in part.Tavares’ appeal argues that at the time, he was eligible for the reduced tax rate of 15 per cent under a Canada-U.S.

NEW YORK CITY — Donald Trump would have Americans believe that his conviction on 34 felony counts last week proves that their legal system is rigged and corrupt and that he’s a victim.

Fresh allegations that a longtime Toronto-Dominion Bank branch worker in Florida took a series of US$200 bribes to help clients move millions to Colombia by skirting anti-money-laundering defences are adding to the lender’s mushrooming U.S. legal problems.

Bill Hwang is pushing to bring up the probe of Morgan Stanley block-trading leaks in an attempt to bolster his defense. 

Even as the notion of phased retirement has become a norm, more people than ever are saying that they don’t plan to work past the age of 62.

Claudia Sheinbaum, former mayor of Mexico City, has been elected as the first female president of Mexico. She is anticipated to maintain the current administration’s approach to crypto regulation.

Sally Buzbee has stepped down after three years as executive editor of The Washington Post, one of journalism's most storied brands

Peacock, the ninth season of Suits will be available on Netflix starting next month. The former USA Network president and a number of the cast members attended a reunion event at the ATX TV Festival in Austin, Texas, when this statement was made. As per the reports of The Hollywood Reporter, Season 9 of Suits will stream from July 1 on Netflix.

BENGALURU:Swiggy’s fair valuation has been marked up to $15.1 billion by top investor Baron Capital as of 31 March, underscoring the food and grocery delivery platform’s growth potential ahead of its public-market listing.This marks a 24% jump in valuation from Baron’s previous disclosure, as per filings with the US Securities and Exchange Commission. The New York-based asset management firm, which was one of Swiggy’s earliest investors, had valued the share of its holdings in the Indian company at $12.2 billion last year.In April, another top US-based investor, Invesco, lifted its valuation of Swiggy by nearly 20% to $12.7 billion.

Saudi Aramco’s generous dividends can only go so far in making up for an overpriced initial public offering. The Saudi Arabian national oil company will sell shares worth up to $12 billion in an offering this week. The Saudi government, which will still own more than 80% of Aramco at the end of the sale, will use the proceeds to fund the country’s cash-hungry Vision 2030 initiatives.

GameStop Corp. shares more than doubled after the Reddit account that drove the meme-stock mania of 2021 posted what appeared to be a $116 million position in the game retailer.

Craft beer pioneer Anchor Brewing Co. has been purchased by Chobani yogurt founder and billionaire Hamdi Ulukaya

CNN and MSNBC both cut away from former President Donald Trump's live remarks Friday about halfway through to offer fact checks, and never returned

Stocks that traded heavily or had substantial price changes on Friday: Gap, Zscaler rise; Veeva Systems, MongoDB fall

Donald Trump and other Republicans say President Joe Biden’s policy to promote electric vehicles is unfair for consumers and amounts to government overreach

Donald Trump has joined TikTok, the video-sharing app he once tried to ban as president

Media magnate Rupert Murdoch, who is 93, has married for the fifth time

CEOs got rewarded as the economy showed remarkable resilience, underpinning strong profits and boosting stock prices. After navigating the pandemic, companies faced challenges from persistent inflation and higher interest rates. About two dozen CEOs in the AP's annual survey received a pay bump of 50% or more.

ALSO READ: GameStop shares surge after raising nearly $1 billion from share sale programIt was the first post from Keith Gill, known as “Roaring Kitty", on his Reddit account since his return to X in mid-May.Gill had fuelled anticipation that he will actively return to the market after he had shared an image of a video gamer leaning in.GameStop shares have fallen more than 50 per cent since a two-day rally triggered by his mid-May post.A screenshot posted on Sunday showed $20 call options for GameStop expiring on June 21. ALSO READ: GameStop hits highest since 2021 as return of 'Roaring Kitty' rekindles meme stock maniaIn a post on X on Sunday, Gill also shared an image of an UNO reverse card, which is used by players in the game to change the card-pickup direction.The post had attracted about 5.5 million views in the nine hours since its publication at about 8 p.m.

Riyan Parag doesn't want to watch T20 World Cup 2024; netizens react, 'Thoda jyada hi attitude hai isme'More than the specifics of the WI vs PNG match, however, one issue that has taken centre stage is the lack of spectators at the Providence Stadium to watch their home team. Social media users were quick to lash out at the International Cricket Council (ICC), questioning how a World Cup opener in the host nation could have empty stands.What's even more surprising is that New York's Nassau Cricket Stadium, which is hosting an ICC event for the first time, was packed for both the USA-Canada match and the warm-up match between Bangladesh and India.Social media users had a number of stories as to why the stands were empty during the WI vs PNG match.

T20 World Cup 2024: South Africa will clash with Sri Lanka on June 3 at the Nassau County International Cricket Stadium in New York. Aiden Markram will captain the Proteas while Wanindu Hasaranga will lead the Lankan side.A post shared by ICC (@icc)South Africa, since 2023, have played 11 T20Is that produced results and lost 9 of those. They were recently defeated 3-0 by West Indies.