2020 Financial News

Companies continued rewarding investors with healthy dividends in 2023 even as they tread more cautiously with returning profits through stock buybacks

The Greater Toronto and Hamilton Area (GTHA) condo rental market has experienced a significant downturn, marked by the largest six-month decrease in rent prices in the past 15 years.  

Congratulations! You’ve filed your 2023 tax return by the April 30 deadline and you’re awaiting your formal notice of assessment from the Canada Revenue Agency.

Peloton is cutting about 400 jobs worldwide as part of a restructuring effort and its CEO Barry McCarthy is stepping down after two years as the company continues to work on turning around its business. Shares jumped more than 11 per cent before the market open on Thursday. Peloton has been working on a significant rebranding since last year, shifting its identity as a seller of luxury exercise bikes and equipment to heath technology for all.

₹358.80 a share on the NSE on Thursday, down 1.98%, while the Nifty index closed at 22,648.20 points. Its total market capitalization stood at ₹4,997.71 crore. CVC Capital Partners, which purchased around 59% in Healthcare Global for ₹1,100 crore in 2020, raised its shareholding to over 60.4% later.

It’s taking bumper corporate earnings and profit forecasts to impress investors this season, after a record first-quarter rally left stocks looking expensive.

Mint takes a closer look at these revelations and their effect on India. Earlier this week the Washington Post published a report providing new details on the Pannun assassination attempt in 2023. Citing unnamed security officials, the report said Vikram Yadav, a RAW official, was responsible for handling the operation to assassinate the Sikh separatist leader on US soil.

Paytm Money, the wealth management platform of One 97 Communications Ltd, has appointed Rakesh Singh as its CEO replacing Varun Sridhar, who had been its chief executive since 2020, people aware of the matter said. Singh, who was the CEO of broking services at PayU-backed Fisdom, is learnt to have joined Paytm Money last month, one of the persons said, adding that Sridhar has been moved to a different role within the group.

Prime Minister Narendra Modi's letter to Phase 3 candidates, Congress president Kharge launched a scathing attack on the PM by claiming that the lies in the speeches are not having the effect intended. «From the tone and content of the letter it seems that there is a lot of desperation and worry in you which is leading you to use language that does not suit the office of the Prime Minister. The letter makes it look like the lies in your speeches are not having the effect you intended and now you want your candidates to amplify your lies. Repeating a lie a thousand times will not make it the truth,» said Kharge in the letter shared on social media X.

A subsidiary of Johnson & Johnson is now proposing paying approximately $6.48 billion over 25 years as part of a settlement in the U.S. to cover allegations that its baby powder containing talc caused ovarian cancer

The halving is intended the underscore the value of bitcoin by capping its supply and increasing its worth. It was a process developed by bitcoin creator Satoshi Nakamoto, who has since disappeared. The halving will take place after bitcoin’s all time high price of $73,803 in March this year, and subsequent drop in the last few weeks.

The FBI says scammers stole more than $3.4 billion from older Americans last year

The Federal Communications Commission has leveraged nearly $200 million in fines against wireless carriers AT&T, Sprint, T-Mobile and Verizon for illegally sharing customers’ location data without their consent

Harvey Weinstein is due back in a New York courtroom on Wednesday for his first appearance since an appeals court last week overturned his 2020 rape conviction and ordered a new trial. The preliminary hearing in Manhattan is expected to include discussion of evidence, scheduling and other matters, according to Weinstein's attorney, Arthur Aidala. Aidala said Weinstein will attend the hearing, despite the 72-year-old having been hospitalised since shortly after his return to the city jail system on Friday from an upstate prison. He has said Weinstein, who has cardiac issues and diabetes, was undergoing unspecified tests due to his health issues.

taxes to the Canada Revenue Agency.If you don’t, you can lose benefits, pay stiff fines or even face jailtime, an accountant told Global News.“Failing to file taxes by the deadline – there are some serious consequences,” Chartered Professional Accountant Shayan Rashid said.If you owe money, the late filing penalty is “five per cent of your 2023 balance owing, plus an additional one per cent for each full month that you file after the due date, to a maximum of 12 months,” according to the Canadian Revenue Agency (CRA) site.That means you could potentially end up paying 17 per cent of any balance you owe, Rashid said.But if the CRA charged you a penalty for filing late in 2020, 2021 or 2022 and requested a formal demand for return, the agency site says “your late-filing penalty for 2023 will be ten per cent of your balance owing” plus “for each full month that you file after the due date, to a maximum of 20 months.”“That’s just the penalty portion,” Rashid explained.“On the interest portion – this gets fun because now the rate of the CRA is charging is almost 10 per cent … and that compounds daily.”“If you have a balance owing for 2023 and are unable to pay it by the April 30 payment due date,” the agency’s site states, “the CRA will charge you compound daily interest starting May 1, 2024.”Rashid said the CRA can take more severe action if someone consistently files late or ignores repeated requests, like garnishing their wages, freezing bank accounts or placing liens on properties.“We have see the CRA go directly to the employer,” he said, speaking from Oakville, Ont, and that employer would be “required to pay the wages (to) the CRA first” before paying the employee.Extreme cases can result in tax evasion or fraud

Starbucks lowered expectations for its full-year sales and profit Tuesday after a disastrous quarter that saw a slowdown in store visits across the world. The Seattle coffee giant said revenue for the January-March period dropped 2% to $8.56 billion. That was far short of Wall Street's forecast of $9.12 billion, according to analysts polled by FactSet.

Starbucks is reporting weaker-than-expected sales in its fiscal second quarter as customer traffic dried up in many key markets

medical examiner's report into the death of Argentine soccer legend Diego Maradona injected uncertainty Monday into the criminal negligence case brought against eight medical workers involved in his case a month before they are set to stand trial for homicide. A forensic expert conducted the study at the behest of one of the main defendants, Maradona's neurosurgeon Leopoldo Luque, in an effort to challenge the 2021 medical examination that held Luque and other doctors responsible for what it described as the soccer star's otherwise avoidable death. The defendants have denied any violations or irregularities in Maradona's treatment. Maradona, famous for leading Argentina to victory in the 1986 World Cup and back to the final four years later, died from a heart attack in 2020 while recovering from brain surgery.

A growing number of cities are passing tax increases to expand access to child care

A Finnish court has sentenced a 26-year-old man to more than six years in prison for hacking thousands of patient records at a private psychotherapy center and seeking ransom from some patients over the sensitive data

Mindspace Business Parks REIT has recorded gross leasing of over 2 million sq ft in the quarter ended March, making it the highest ever leasing since its listing in August 2020. With this, the K Raheja Corp-backed REIT’s total leasing to 3.6 million sq ft in the financial year 2023-24. The REIT’s net operating income grew 9.3% from a year ago during the fourth quarter to Rs 477 crore and 11.9% to Rs 1,896 crore for 2023-24. “We had a record quarter, leasing 2 million sq ft, making this our top-performing quarter since going public. Our committed occupancy now stands at 90.6%,” said Ramesh Nair, CEO, K Raheja Corp Investment Managers, Manager to Mindspace REIT.