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Browsing Month »October, 2017«

→  October 18, 2017

NEW YORK (Reuters) – Top U.S. bankers are still hoping the President Trump’s administration will make policy changes to boost profits, but made clear in public comments in recent days that they are not seeing any signs of progress so far. Optimism about tax cuts, infrastructure investment and an unwind of costly financial regulations sent […]

→  October 18, 2017

Sears or a sandwich? Fairholme Capital Management LLC investment chief Bruce Berkowitz has stepped down from the board of Sears Holdings Corp. (SHLD) . He has also decided to distribute some of the 28,012,172 Sears shares Fairholme holds to the investors of soon-to-be-dissolved Fairholme Partnership hedge fund. While all of Fairholme’s vast array of funds, […]

→  October 18, 2017

George Soros is giving his foundation a big inflow of money in part to minimise a tax bill hedge fund managers are facing this year. Money managers have until the end of the year to pay taxes on fees they earned from investors in offshore funds and had deferred payment on. Many are now turning to […]

→  October 18, 2017

When Congress eliminated the tax break in 2008, it gave hedge fund managers until December 31, 2017 to bring the cash home and pay the accumulated taxes. At the end of 2013, Soros, 87, had amassed $US13.3 billion in his Soros Fund Management through the use of deferrals, according to Irish regulatory filings. It’s unclear […]