Norway to Hit Fleeing Billionaires With Higher Exit Tax

Norway to Hit Fleeing Billionaires With Higher Exit Tax

(Bloomberg) — Norway is introducing stricter rules to tax expatriates amid reports that more of the country’s billionaires have moved abroad or are considering leaving. A five-year time limit on exit tax on unrealized gains on shares and other assets will be abolished and the rules are extended “to apply to the transfer of shares … Read more

Balenciaga Seeks Damages From Company That Made Controversial Ad

Balenciaga Seeks Damages From Company That Made Controversial Ad

Kering SA’s Balenciaga is seeking at least $25 million in damages from the production company behind an ad campaign that has made the luxury fashion house the target of fierce criticism at the start of the holiday shopping season. .

Asia Stocks Picture Mixed on Fed View, China Woes: Markets Wrap

Asia Stocks Picture Mixed on Fed View, China Woes: Markets Wrap

“It’s a decent time to start considering sharpening your pencil and think about what is a good buy right now,” Terri Spath, founder and chief investment officer of Zuma Wealth Management, said on Bloomberg Television. She said that the coming slowdown in the US economy would be mild and that if there’s a shallow recession … Read more

Lagarde Says ECB Must Hike Even As Economy Weakens Into 2023

Lagarde Says ECB Must Hike Even As Economy Weakens Into 2023

“How much further we need to go, and how fast we need to get there, will be based on our updated outlook, the persistence of the shocks, the reaction of wages and inflation expectations, and on our assessment of the transmission of our policy stance,” Lagarde said. .

Amazon Plans to Invest $1 Billion a Year in Movies for Theaters

Amazon Plans to Invest  Billion a Year in Movies for Theaters

Customers watch a film at a movie theater in Rio de Janeiro, Brazil, on Saturday, Sept. 18, 2021. Rio de Janeiro is requiring proof of vaccination in order to enter public events, tourist points, movie theaters, sports stadiums, and other entertainment activities, as the country sees more than 21 million Covid-19 cases. Photographer: Andre Borges/Bloomberg … Read more

Crypto Lender BlockFi Goes Bankrupt in Aftermath of FTX Meltdown

Crypto Lender BlockFi Goes Bankrupt in Aftermath of FTX Meltdown

The BlockFi logo on a smartphone arranged in the Brooklyn borough of New York, US, on Thursday, Nov. 17, 2022. Cryptocurrency lender BlockFi Inc. is preparing to file for bankruptcy within days, according to people with knowledge of the matter who asked not to be named because discussions are private. Photographer: Gabby Jones/Bloomberg .

China Covid Protests Spread to Hong Kong as Dozens Rally

China Covid Protests Spread to Hong Kong as Dozens Rally

Demonstrators hold blank signs during a vigil commemorating victims of China’s Covid Zero policy in Hong Kong, China, on Monday, Nov. 28, 2022. The protests that erupted against China’s Covid Zero strategy represent one of the most significant challenges to Communist Party rule since the Tiananmen crisis more than 30 years ago. .

Hedge Fund That Beats 99% of Peers Places Contrarian Bet on Meta

Hedge Fund That Beats 99% of Peers Places Contrarian Bet on Meta

The Meta Store in Burlingame, California, US, on Tuesday, Oct. 25, 2022. Meta Platforms Inc.’s newest virtual-reality headset is a foray into the world of high-end VR devices designed to entice creators and working professionals to adopt Mark Zuckerberg’s vision for an immersive digital future. .