Capital Gains News
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The U.S. posted its widest budget surplus in five years in April as an improving economy swelled tax revenue, easing pressure on lawmakers to lift the nation’s debt ceiling.
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Blackstone Group LP, the world’s largest private-equity firm, is taking aim at the $5.4 trillion of cash on corporate balance sheets in the U.S. and Europe as regulators weigh changes that may reduce the appeal of money- market funds.
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Billionaire John Paulson, who last year acquired the largest residential property in Aspen, Colorado, is selling his smaller, 13,000-square-foot home there.
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California should funnel surplus revenue from capital-gains taxes into a reserve fund to avert cuts when the economy sags, Assembly Speaker John Perez said.
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Taiwan’s dollar advanced to the strongest level in three months as global funds increased purchases of local shares and on speculation the government will exempt some stock investors from a capital gains tax.
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Vodafone Group Plc may reap $100 billion from its investment in U.S. mobile-phone venture Verizon Wireless and the U.K. government probably won’t get a penny thanks to an automatic exemption.
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New York Mayor Michael Bloomberg presented an executive budget as more than $1 billion in unexpected revenue from personal-income taxes, corporate levies and audits helped balance his final spending plan.
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Orascom Construction Industries’s settlement of a tax dispute in Egypt will help a move backed by Microsoft Corp. founder Bill Gates to transfer its shares to Amsterdam, EFG-Hermes Holding SAE and VTB Capital said.
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French President Francois Hollande said he will lower capital gains taxes to clear up what he called a “misunderstanding” after he raised levies last year.
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Billionaire John Paulson’s Bermuda venture, which positions its owners to avoid taxes on hedge fund earnings by routing money through a reinsurer, sold about 3 percent as much coverage as competitors in its first year.
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