Every week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.
This week, we begin with a view on US household wealth, then move to a piece reviewing potential Canadian public pension legislation, and finish with a piece reviewing international concerns about potential “tax inversion” crackdowns in the United States.
U.S. household wealth hits record high (http://www.thestar.com/) – Strong stock market gains and higher home prices boosted Americans’ net worth in the April-June quarter to a record high, a trend that could encourage more spending. U.S. households also took on the most new debt in five years, driven mostly by student and auto loans. More borrowing can be a sign of confidence, although greater student debt can pose a burden for younger households. The Federal Reserve said Thursday that household wealth rose 1.7 per cent in the second quarter to $81.5 trillion (U.S.). Americans’ stock and mutual fund portfolios gained $1 trillion. The value of their homes increased $230 billion.
Why better public pensions are on the way: Mayers (http://www.thestar.com/) – The big divide between the provincial Liberals and federal Conservatives on the way to improve pensions and retirement security is a tale of two ideologies. It will make for interesting times next fall as Canada goes to the polls in a federal election. If the Conservatives win, Ontario will go it alone with its own version of the Canada Pension Plan. But if the Liberals or NDP hold the balance of power, things get interesting. Expanding the Canada Pension Plan becomes a possibility and so Ontario doesn’t need to build a costly Ontario Retirement Pension Plan (ORPP) from scratch. The ideological differences are very clear.
Europe groups fear being caught in US tax crackdown (http://www.ft.com/) – [REGISTRATION REQUIRED] – European multinationals have launched a rearguard effort in Washington to prevent them becoming unintended victims of a US crackdown on tax-driven international mergers. As the Obama administration finalizes plans to curb “tax inversion” deals, big European companies that typically stay out of US politics – including Nestlé, Royal Dutch Shell, Airbus and BASF – are alarmed at the risk to their own US divisions.
Come back next week for more interesting news and articles. Enjoy your weekend!