UK TREASURY CHIEF WARNS OF TURBULENCE AMID BREXIT TALKS
Britain’s Treasury chief is warning of turbulence in the coming years as the country negotiates its exit from the European Union. Philip Hammond told the BBC on Monday that Britain will face a couple of years — or longer — of uncertainty as Britain goes through the process of leaving the 28-nation trading bloc.
MUCH UNKNOWN ABOUT TRUMP’S TAXES AND FINANCES
Donald Trump reported losses of more than $900 million on his 1995 income tax returns filed in three states, as revealed in documents obtained by The New York Times. Experts say that could have allowed him to forgo paying federal income taxes for nearly two decades.
CHINA REGULATORS FINE OSI GROUP IN EXPIRED MEAT SCANDAL
The Chinese units of a former meat supplier for McDonald’s and KFC China have been fined more than $3.6 million for selling expired meat in a fast food safety scandal that erupted two years ago. It’s the latest fallout for OSI Group after a Shanghai TV station reported in 2014 that the company repackaged old beef and chicken under fresher expiration dates.
HOW THE TRUMP AND CLINTON TAX PLANS WOULD IMPACT AMERICANS
For America’s wealthiest families, the presidential campaign presents a stark choice: A big tax increase if Hillary Clinton wins the election – or a big tax cut if Donald Trump wins. For everyone else? Right now, neither candidate is proposing major tax changes. Tax policy is one of the issues on which the two nominees differ most.
GLOBAL STOCKS MOSTLY HIGHER, WEIGHING POSSIBLE US RATE HIKE
Global stocks were mostly higher Monday as investors weighed the prospects of a further U.S. interest rate hike and a report on business sentiment out of Japan. Britain’s FTSE 100 rose 0.9 percent to 6,960.92, U.S. shares were set to drift higher, Japan’s benchmark Nikkei 225 gained 0.9 percent to finish at 16,598.67 and Australia’s S&P/ASX 200 rose 0.8 percent to 5,478.50. Chinese and South Korean markets were closed.
