Moodys Financial News

Compared to other Organization for Economic Co-operation and Development countries, Canada relies more on personal taxation revenues, which generally account for about 50 per cent of overall government revenues — that’s a big number — though it varies annually.

India will likely retain the fastest-growing G20 economy tag, with the bigger G20 emerging economy China seen growing 4.7%. Overall, the G20 economies will expand 2.8% in 2024, slower than 3% in 2023, according to the Global Macro Outlook 2025-26 report released Friday. The relocation of supply chains, investment from multinational companies and Chinese domestic manufacturers seeking to diversify production are creating opportunities for India, Mexico and many Southeast Asian nations, per the report.

Mexico's president has lashed out at Moody’s ratings service after it downgraded the Mexican government’s debt outlook to “negative.”

inflation, according to a recent report by Moody’s. The ratings agency projects India’s GDP to grow by 7.2% in 2024, followed by 6.6% in 2025 and 6.5% in 2026. In the second quarter of 2024, India’s real GDP expanded 6.7% year-over-year, fueled by a resurgence in household consumption, increased investment, and solid manufacturing activity. Indicators of economic health, including positive manufacturing and services PMIs, robust credit growth, and consumer optimism, point to continued growth in the third quarter. Household spending is expected to remain strong, buoyed by festive season purchases and rising rural demand as agriculture rebounds. Private investment is likely to be supported by increasing capacity utilization, strong business sentiment, and the government’s ongoing infrastructure investments, said the report.

Like many Canadians, I was glued to the non-stop coverage of the election results in the United States last week, with my tax brain going into overdrive thinking about how Canada would respond to a high-tax-loving Kamala Harris win versus a low-tax-high-tariff Donald Trump win, which ultimately came to pass.

Trump set to become the next US president after the recently closely contested president polls, India and other Asian countries are expected to benefit due to rising US-China tensions and potential investment restrictions in strategic sectors, as per Moody's Ratings. «In the Asia-Pacific region, trade and investment flows might be further diverted away from China as the US tightens investments in strategic sectors, which would negatively affect China's economy and consequently dampen regional growth. However, this shift might benefit India and ASEAN countries,» the global rating agency said. The global agency anticipated a significantly shift under the Trump administration across fiscal, trade, climate, and immigration issues, departing from the approach of the administration of the current US President Joe Biden.

In an assessment published on Friday (1 November), the ratings agency said the Budget unveiled earlier this week will lead to an increase in government spending by around £70bn annually over the next five years. Almost half of the expanded spending will come from borrowing, Moody's stated, which will reach around £28bn a year over the next five years, or 1% of UK's GDP, making fiscal loosening rules «the most aggressive» pursued since the onset of the Covid pandemic. «The decisions taken in the Budget mean that public sector net borrowing will be higher in each year of the forecast an...

Boo!!! Did I scare you? If not, sit back, take a sip of your favourite beverage and get ready for some spooky tax stories for Halloween.

Robert Roberson‘s capital punishment sentence was based on junk science and a misdiagnosis of “shaken baby syndrome,” the Texas Supreme Court on Thursday night blocked his execution.The move to halt Roberson’s execution is temporary, but came less than two hours before the 57-year-old death row inmate was scheduled to die by lethal injection.According to the Washington Post, Roberson could have been the first American to receive the death penalty for a conviction related to shaken baby syndrome, a brain injury caused by forcefully shaking an infant or toddler. The condition can cause permanent brain damage or death.Roberson was put on death row when he was convicted of murdering his two-year-old daughter after he brought her to a hospital in Palestine, Texas, in 2002.

Donald Trump has vowed that if voters return him to the White House, "inflation will vanish completely." It's a message tailored for Americans who are still exasperated by the jump in consumer prices that began 3 1/2 years ago. Yet most mainstream economists say Trump's policy proposals wouldn't vanquish inflation. They'd make it worse. They warn that his plans to impose huge tariffs on imported goods, deport millions of migrant workers and demand a voice in the Federal Reserve's interest rate policies would likely send prices surging.

Bradenton, Florida, Police Chief Melanie Bevan discusses the damage caused by Hurricane Milton on Cavuto: Coast to Coast.

FOX Business' Lydia Hu has more on the impact caused by Hurricane Helene's devastation on 'Varney & Co.'

Inflation has eased gradually across the broad U.S. economy, and some areas of consumer spending, such as furniture and gasoline, have even deflated over the past year.

Rep. Greg Murphy, R-N.C., details the devastation caused by Hurricane Helene and the impact of the storm on the upcoming presidential election.

Rep. Greg Steube, R-Fla., discusses how his district is preparing for Hurricane Milton, Rep. James Comer calling for a review of FEMA, the federal governments response to hurricane season and the use of FEMA funds for illegal migrants.

Tax and politics are like wine and cheese: they are inextricably linked and impossible to do one without involving the other.

Last week, I appeared as a witness before the House of Commons Finance Committee regarding the proposed capital gains inclusion rate increase, and it was not surprising to hear the Liberal and NDP committee members, and their witnesses, go on about how great the capital gains inclusion rate proposal is.

Rep. Greg Murphy, R-N.C., details the devastation caused by Hurricane Helene and the impact of the storm on the upcoming presidential election.

Moody's downgraded Israel's credit rating Friday, citing heightened geopolitical risks as its conflict with Hezbollah worsened and prospects for a ceasefire in Gaza receded. «The key driver for the downgrade is our view that geopolitical risk has intensified significantly further, to very high levels,» said Moody's in a statement. This came as it shifted Israel's ratings down two notches from A2 to Baa1, marking its second downgrade this year.

A core principle of taxation is that taxpayers have the right to pay no more — and no less — than what is required by law.

The Alternative Minimum Tax is an example of silly taxation policy creating complexity and it needs to be abolished — here’s why.