Author: Editor

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldIt is groundhog day in Washington. In recent years, brinkmanship has repeatedly erupted whenever Congress has tried to raise the debt ceiling — usually because rightwing voices have threatened a government shutdown unless their demands were met.Here we go again. This week Mike Johnson, the Republican Speaker of the House of Representatives, tried to pass a stop-gap debt ceiling deal with a $6.75tn budget — but it was derailed by incoming president Donald Trump and his supporters, including Elon Musk…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump has vowed to speed up regulatory approvals for investors spending $1bn or more in the US, a signal that he will address one of developers’ thorniest complaints when he takes office next month.The president-elect made the offer on Truth Social on Tuesday, reflecting his plan to spur more domestic investments through deregulation rather than the tax credits and subsidies that have been the preferred approach under President Joe Biden. “Any person or company investing ONE BILLION DOLLARS, OR…

Latest news on ETFsVisit our ETF Hub to find out more and to explore our in-depth data and comparison toolsUS investors have saved $250bn by investing in exchange traded funds rather than traditional mutual funds, since their creation in 1993, according to calculations by Bank of America.The sum is equivalent to 2.5 per cent of the $10tn US-listed ETF market.The savings stem in part from the lower fees typically levied by ETFs, but primarily from the tax advantages enjoyed by ETFs under America’s unusual tax system.The average total expense ratio for ETFs in the US is just 0.16 per cent…

Attempts to stop some of the world’s biggest companies shifting profits across borders to avoid paying tax are “in peril” following Donald Trump’s definitive win in US presidential elections, experts said. A global deal inked at the Paris-based OECD in 2021 and partly introduced by several countries — including EU member states, the UK, Norway, Australia, South Korea, Japan and Canada — earlier this year was expected to raise the tax take from the world’s biggest multinationals by up to $192bn a year. But experts say a crucial pillar that prevented large companies paying less than a minimum effective tax rate of…

In the race for the White House, the largest companies in the US are facing two starkly different financial futures, separated by one vast sum: a quarter of a trillion dollars a year. The potential price tag is thanks to the differing tax policies of the two candidates, one of the most crucial distinctions between them for corporate America. Kamala Harris is promising to partly reverse Donald Trump’s big reduction in the corporate rate, while the former president says he will lower it further, intensifying a debate over the legacy of his 2017 reforms and setting the stage for a…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldThe writer is director of economic policy studies at the American Enterprise InstituteDonald Trump and Kamala Harris seem to agree that one of the nation’s most important challenges should remain unaddressed — a problem that has been slowly eroding the foundations of economic prosperity for decades.That problem? The national debt.The non-partisan Congressional Budget Office reports that federal debt held by the public averaged 48.3 per cent of GDP for the half century ending in 2023. The debt is currently far…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump has said he will end “double taxation” for millions of Americans living overseas if he wins the US presidential election next month.“I support ENDING the Double Taxation of overseas Americans! Let’s put America First, together. Register to Vote, and vote Republican to, MAKE AMERICA GREAT AGAIN!” he said in a statement.The announcement, part of the former president’s broader pledge to slash taxes, is an effort to court overseas Americans in the razor-close race for the White House.RecommendedJim Gosart,…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is the author of A Random Walk Down Wall StreetWith the US presidential election upon us and a seemingly intractable budget deficit looming in the background, candidates are turning to how the country raises revenue through taxes. This will be important for investors to watch given the rising government budget deficit is unlikely to be reduced without both spending restraint and new sources of revenue. But many of the proposals coming from both political parties make little sense and would upend…

To understand the new politics stance and other pro nationals of recent times, we should look to Silicon Valley and the quantified movement of the latest generation. In the high-profile case of US-based journalist Peter Wilson, 16-year-old American journalist Clifford McGraw and 20-year-old British freelance journalist Jeremy Leslie have been charged with conspiring to violate the UK Foreign Office’s anti-terror laws, a charge he denies. On Monday, UK attorney Andy McDonald revealed that he had spoken. “Few worry about catching Covid anymore, as it’s just a matter of time before they do,” says Tea, a teacher at a school for…

To understand the new politics stance and other pro nationals of recent times, we should look to Silicon Valley and the quantified movement of the latest generation. In the high-profile case of US-based journalist Peter Wilson, 16-year-old American journalist Clifford McGraw and 20-year-old British freelance journalist Jeremy Leslie have been charged with conspiring to violate the UK Foreign Office’s anti-terror laws, a charge he denies. On Monday, UK attorney Andy McDonald revealed that he had spoken. “Few worry about catching Covid anymore, as it’s just a matter of time before they do,” says Tea, a teacher at a school for…