Brokers Markets News 

Broker Group Warns of Investor Risks Posed by U.S. Direct Share-Listing Proposal

“Nasdaq has said it also intends to file changes to its rules that would allow companies to raise funds, so-called primary capital, through a direct listing” writes Min Read for reuters.com. The New York Stock Exchange (NYSE) has filed an application with the SEC to allow companies going public to raise capital through a direct listing, instead of an initial public offering.NEW YORK/WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission risks weakening investor protections if it allows companies to raise money in the public market through a direct listing…

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Number of illegal online trading websites blocked in Italy surpasses 100

“The Italian regulator says there have been a number of investor complaints about serious irregularities made by the Cypriot brokerage” reports financefeeds.com. Speaking of investor protection, let’s note that earlier this week Consob implemented a precautionary measure against the Cypriot company Hoch Capital Ltd prohibiting the firm from carrying out business in Italy. Source: financefeeds.com

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German food delivery company Delivery Hero to buy its South Korean rival Woowa Brothers for $4B

“SEOUL (Reuters) – German food delivery company Delivery Hero (DHER.DE) has agreed to acquire its South Korean rival Woowa Brothers for $4 billion, Woowa Brothers said in a statement on Friday” writes Min Read for reuters.com. Woowa Brothers said the companies will also create a joint venture in Singapore to tap into the booming food delivery market in Asia and compete with Grab, UberEats and Gojek.The deal comes as Woowa Brothers Corp, which owns South Korea’s biggest food delivery service “Baedal Minjok”, faces growing competition from rivals such as e-commerce…

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5 reasons why the Capital One Venture is better than an airline or hotel credit card

“With some credit card issuers gradually stripping away valuable purchase and travel protections, the Capital One Venture card has an advantage” writes Ariana Arghandewal for businessinsider.com. Airline credit cards, along with hotel credit cards, are great if you’re saving up rewards for a specific travel redemption, or if you’re loyal to a specific brand. Source: businessinsider.com

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The bankruptcy of trucking giant Celadon just left nearly 4,000 people jobless. The short seller who predicted the company’s implosion told us what tipped him off.

“That “prompted us to start digging into the company’s financial statements,” Asbahi told Business Insider” writes Rachel Premack for businessinsider.com. “We did not have any interaction with the company either before or after the report,” Asbahi said in an email.Asbahi told Business Insider that while initially sniffing out opportunities in the transportation sector, his interest in Celadon piqued after industry insiders pointed to unusual happenings at the cross-border trucking company. Source: businessinsider.com

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This is the tax break America’s 1% will cling to — even after death

“Almost all the Democratic candidates for president propose to increase the tax rate on capital gains to equal the rate on ordinary income” writes Robert Pozen for marketwatch.com. First, it materially reduces federal tax revenues, since a significant portion of unrealized capital gains escapes income tax.Yet, if Congress did raise the rate on capital gains above 29% without enacting other tax reforms, federal tax revenues would actually fall, according to the Tax Policy Center.Accordingly, the current rule for stepping up the tax basis of appreciated assets at death creates two…

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Crypto News 

South Korea: Gov’t Seeks to Tax Crypto Transactions as Capital Gains

“The South Korean government plans to tax capital gains on cryptocurrency transactions” writes Marie Huillet for cointelegraph.com. Major South Korean exchange Upbit, which is run by a subsidiary of Korean tech giant Kakao, revealed last month that 342,000 Ether (ETH) had been stolen from its hot wallets.This would ensure that crypto exchanges adhere to the same Know Your Customer and Anti-Money Laundering standards as traditional financial institutions.While the government’s capital gains bill will reportedly go ahead regardless of related legislation, The Korea Times notes that a more adequate definition of…

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Crypto News 

South Korea to Impose Capital Gains Tax on Crypto

“The South Korean Ministry of Economy and Finance has decided to impose capital gains tax on digital currencies, The Korea Times reported on Sunday” writes Arnab Shome for financemagnates.com. Last month, Ukraine proposed a similar bill for crypto gains tax.Moreover, it is also not clear whether the government is planning to implement the gains tax similar to profits from stock trading or real estate transactions.Meanwhile, several other crypto-related bills are pending with the South Korean Assembly for approval.Properly taxing earnings from crypto is a major debate topic all over the…

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To Boost Economic Growth, Support Entrepreneurs

“The unequal distribution of startup capital is a form of economic injustice” writes Hwang Ewing Marion for pbs.org. Seventy-five percent of all venture capital supports entrepreneurs in only three states: California, Massachusetts and New York.Individual entrepreneurs are mobilizing, meeting through local networks to address shared concerns and working to grow their businesses across the country.Promoting entrepreneurship crosses political divides, as both a source of economic vitality and an instrument of social inclusion.That’s why the Kauffman Foundation has created America’s New Business Plan, a policy agenda to lift our nation by…

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