Bernard Winograd, a retired Prudential Financial Inc. executive who earlier helped devise the initial public offering for luxury-mall developer Taubman Centers Inc. in 1992, a milestone in the growth of real estate investment trusts, has died. He was 63.
Chinese buyers have overtaken Americans to become the biggest investors in Australian property, drawn by the nation’s strengthening housing market, as their government tightens rules on buying at home.
The top Republican tax writer in Congress will lean on the financial industry with his planned revamp of the U.S. code, changing the treatment of carried interest and imposing a levy on the assets of banks and insurers.
Dave Camp, the Republican House Ways and Means Committee chairman, is filling in the blanks in his plan to revamp the U.S. tax code and leaning on the financial industry to help pay for lower tax rates.
A whistle-blower’s $6.8 million in awards must be taxed as ordinary income, a U.S. Tax Court judge ruled, rejecting arguments that the money should be recognized as capital gains and subject to a lower rate.
Financial advisers to some of the wealthiest Americans see struggling Puerto Rico as an outlier in the $3.7 trillion local-debt market, leading them to add municipal bonds as the steepest federal tax rates in more than a decade loom.