News 

Feds Collect Record Individual Taxes…

“The real federal individual income tax revenues collected in calendar 2018 were $9,312,450,000 more than the real individual income tax revenues collected in calendar year 2017” writes Terence P for cnsnews.com. The previous calendar year record for federal individual income tax revenues was in 2017, when the Treasury collected $1,656,171,550,000 in individual income taxes (in constant December 2018 dollars).Even as inflation-adjusted individual income taxes increased from calendar year 2017 to calendar year 2018, total federal tax collections declined.In calendar 2017, the Treasury collected $290,978,980,000 in corporation income taxes (in constant…

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News 

Apple’s new deal for journalism should send publishers running

“From reporter Sahil Patel: According to five media executives that oversee multiple high-performing channels on YouTube, YouTube Red subscription revenues are scant compared to the money they can make from advertising” writes Feb Est for theverge.com. One executive at a network that gets hundreds of millions of views per month said YouTube Red subscription revenues account for more than 10 percent of the network’s total YouTube-monetized revenues. Source: theverge.com

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News 

Citigroup’s consumer bank is trying to jumpstart revenues, and it thinks its 28 million US credit-card customers are a golden opportunity

“Citigroup is trying to jumpstart revenues in its retail-banking business, and it thinks the company’s 28 million US credit-card customers represent a golden opportunity” writes Alex Morrell for businessinsider.com. Citi’s consumer bank, especially in the US, has been the focal point of frustrations amid stubborn revenue and deposit growth and efficiency that lags competitors.Sign up here for our weekly newsletter Wall Street Insider, a behind-the-scenes look at the stories dominating banking, business, and big deals.The strategy for converting those credit-card customers involves, in part, rolling out new digital products and…

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Brokers News 

Kabu Sees Lowest Monthly Revenues in Over Three Years

“For the five months prior to January, the firm averaged 619.6 million yen ($5.61 million) in brokerage fee-based revenue” writes David Kimberley for financemagnates.com. In terms of commission fees, the broker managed to rake in 461 million yen ($4.17 million) last month.For example, revenue derived from equities trading declined to 209 million yen ($1.89 million).The firm reported total revenue from its market making activities as 595 million yen ($5.38 million) in January. Source: financemagnates.com

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Brokers News 

Plus500 Sees Record Revenues in 2018, But Forecasts Weaker 2019

“Not only did Plus500 have a record first half of 2018, as Finance Magnates reported, the broker also managed to close the year out on solid footing” writes Celeste Skinner for financemagnates.com. After having a record first half of the year, Plus500, an online contracts for difference (CFD) and forex brokerage, has announced its preliminary unaudited results for 2018.As can be expected, the broker managed to report a strong uptick in its key metrics, including revenues. Source: financemagnates.com

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Markets News 

Plus500 Tanks 30% as Management Signals “Materially Lower” Profit

“At the time the market gave Plus500 a significant premium over its competitors, a premium that now appears all but voided” writes Victor Golovtchenko for financemagnates.com. Having in mind the latest developments in the market the management’s guidance to lower its revenues guidance for 2019 fits in. Source: financemagnates.com

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Markets News 

Cboe Markets Sees 25 Percent Uptick in Revenues for 2018

“That growth was largely due to a $261 million increase in the amount Cboe spent on liquidity payments, which rose to $1.11 billion, in 2018” writes David Kimberley for financemagnates.com. In 2018, business costs rose to $1.55 billion, a 26 percent increase on the prior year’s $1.23 billion.That was a 24 percent increase on 2017 when the firm finished the year with $2.23 billion in revenue.The company saw a sizeable uptick in revenues last year when compared to 2017. Source: financemagnates.com

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Brokers News 

INTL FCStone FX Prime Brokerage Revenues Jump by 60% in Q1

“Without this cash injection, FX prime brokerage operating revenues were flat year-on-year” writes Celeste Skinner for financemagnates.com. INTL FCStone’s FX prime brokerage operates under the clearing and execution services arm of the company.During the quarter, whilst the firm overall saw a dip in revenues, the company’s prime brokerage sector recorded a solid performance. This represents a jump of 32 per cent when compared to the prior year period, which recorded operating revenues of $72.2 million.For this sector as a whole, which also includes the firm’s voice brokerage business in the…

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