Latest news with #Treasury
Mint
2 hours ago
- Business
- Mint
Wall Street Live: US stocks mixed following Donald Trump's latest tariff threats
Wall Streetindicesopened mixed on Monday following US President Donald Trump's latest tariff threats against the EU and Mexico. At 9:31 AM ET, the Dow Jones Industrial Average fell 126.24 points, or 0.28%, to 44,245.27, the S&P 500 lost 6.11 points, or 0.10%, to 6,253.64 and the Nasdaq Composite gained 27.83 points, or 0.14%, to 20,613.36. Over the weekend, President Donald Trump announced that he plans 30% tariffs on goods from Mexico and the European Union. The levies could make everything from French cheese to German electronics more costlier in the US, while destabilizing economies from Portugal to Norway. In the bond market, the yield on the 10-year Treasury was flat at 4.43%. The US dollar edged up to 147.45 against Japanese yen from 147.38. The euro fell modestly to $1.1690 from $1.1692. Crypto stocks surged after Bitcoin soared to fresh highs amid bullish momentum across risk assets. The cryptocurrency rose 3.6% early on Monday before settling back around $121,315, according to CoinDesk. Fastenal stock rose 4.5% after the distributor of industrial and construction supplies reported stronger quarterly profit. Kenvue shares advanced 3.4% after the former division of Johnson & Johnson said CEO Thibaut Mongon is stepping down. Gold prices were steady on Monday with focus on trade talks and US economic data. Spot gold was little changed at $3,356.95 per ounce, as of 0937 AM EDT (1337 GMT). US gold futures were flat at $3,365.30. Spot silver gained 1.1% to $38.78 per ounce. Platinum fell 2.4% to $1,365.19 and palladium dropped 2.6% to $1,183.75. Oil prices rose on Monday on signs of tighter supply. Brent crude futures rose 16 cents, or 0.2%, to $70.52 a barrel by 1326 GMT, while US West Texas Intermediate crude futures climbed 12 cents, or 0.2%, to $68.57.
BBC News
2 hours ago
- Business
- BBC News
Final cost of Manx ferry terminal in Liverpool remains uncertain
The final cost of the Isle of Man's ferry terminal in Liverpool remains uncertain more than a year after the facility was opened, the Treasury minister has Allinson said there remained "a number of issues to resolve" regarding the figure for the Manx government-funded development at the Princes Half Tide Dock.A raft of delays saw the cost of the project almost double from £38m to £70.6m, but a bid to allocate an additional £10m in contingency funding was withdrawn in November said the matter was "currently being handled by the legal advisers" who said the amount was "subject to legal privilege". He told Tynwald members while the Department of Infrastructure "was making progress on the final cost", which meant the Treasury "cannot be currently certain of the exact final cost".The terminal was opened to passengers travelling on the Isle of Man Steam Packet Company vessels in July last year, five years after work on the project began. 'Not sufficient' Julie Edge MHK raised the issue of contingency funding on capital projects being inadequate, while Tim Glover MHK wanted to know the timescale for such a vote, highlighting that a general election was looming in September conceded that "in retrospect" the contingency funding for the terminal "was not sufficient". As a result the contingency amount for further large projects had been reviewed by the Treasury and had been increased, he the figure was finalised he said he would "bring the scheme to Tynwald for a supplementary vote", which he said he hoped would happen before the end of the current administration. Read more stories from the Isle of Man on the BBC, watch BBC North West Tonight on BBC iPlayer and follow BBC Isle of Man on Facebook and X.
Yahoo
3 hours ago
- Business
- Yahoo
How To Invest Like the 1%, According to Tony Robbins
Tony Robbins, the world-renowned life coach and entrepreneur, spent years interviewing some of the most successful investors on the planet for his bestselling book 'Money: Master the Game.' Through conversations with billionaire investors like Ray Dalio, Carl Icahn and Warren Buffett, Robbins uncovered the investment strategies that separate the ultra-wealthy from everyone else. Here's what Robbins learned about how the top 1% approach investing — and how everyday investors can apply these principles to build wealth. Trending Now: For You: One of Robbins' most significant discoveries was Ray Dalio's 'All-Weather' portfolio strategy, according to Robbins' website. Dalio, founder of Bridgewater Associates — the world's largest hedge fund — shared a simplified version of his approach that works in any economic environment. The All-Weather portfolio allocation breaks down as: 30% Stocks (broad market index funds) 15% Intermediate-term bonds (seven to 10 year Treasury bonds) 40% Long-term bonds (20 to 25 year Treasury bonds) 7.5% Commodities 7.5% Real Estate Investment Trusts (REITs) This strategy focuses on balance rather than trying to time the market. The portfolio is designed to perform well whether the economy experiences growth, recession, inflation or deflation. The heavy weighting in bonds might seem conservative, but Dalio's research shows this allocation has historically provided strong returns with lower volatility than traditional stock-heavy portfolios. Read Next: Robbins discovered that the wealthiest investors spend far more time on asset allocation than on picking individual stocks. According to his research, asset allocation accounts for roughly 90% of investment returns, while security selection and market timing contribute much less. The 1% understand that diversification across different asset classes — stocks, bonds, real estate, commodities and alternative investments — provides more reliable wealth building than trying to find the next hot stock. They create portfolios that can weather different economic conditions rather than betting everything on market timing. One of the most eye-opening revelations from Robbins' interviews was how much investment fees can destroy wealth over time. He learned that even seemingly small fee differences can cost investors hundreds of thousands of dollars over decades. The ultra-wealthy negotiate lower fees or invest in vehicles with minimal costs. For regular investors, this means choosing low-cost index funds over actively managed funds with high expense ratios. Per his website, Robbins advocates for funds with expense ratios below 0.1% when possible, noting that a 2% annual fee can reduce your returns by more than 60% over 30 years due to compounding. Wealthy investors remove emotion from their investment decisions by automating their strategies. They set up systematic investments that continue regardless of market conditions, economic news or their current mood. Robbins is know to emphasize the power of dollar-cost averaging through automatic investments. By investing the same amount regularly, you buy more shares when prices are low and fewer when prices are high, potentially improving your average cost basis over time. The key is consistency; the 1% don't try to time their investments based on market predictions. The ultra-wealthy take an extremely long-term view of investing. While average investors might panic during market downturns or get excited during bull runs, the 1% understand that wealth building is a decades-long process. Robbins learned that successful investors view market volatility as opportunity rather than risk. They understand that temporary market declines are normal and often present buying opportunities for those with patience and conviction. The wealthiest investors don't set their portfolios and forget them. They rebalance regularly to maintain their target asset allocation. When one asset class performs well and becomes overweighted, they sell some of those gains and buy underperforming assets. This systematic approach forces investors to sell high and buy low, which is the opposite of what most emotional investors do. Robbins is known to recommend rebalancing at least annually or when any asset class moves more than 5% to 10% away from its target allocation. While the 1% often have access to complex investment vehicles, Robbins found that many successful investors stick to simple, understandable strategies. Warren Buffett, for example, has consistently advocated for low-cost index funds for most investors. The key insight is that you don't need exotic investments to build wealth. Simple, low-cost, diversified portfolios can provide excellent returns over time when combined with consistent investing and patience. Wealthy investors understand that inflation erodes purchasing power over time. They include inflation hedges in their portfolios, such as real estate, commodities, and Treasury Inflation-Protected Securities (TIPS). Robbins learned that the 1% don't just focus on nominal returns, they focus on real returns after accounting for inflation and taxes. This means thinking about investments that can maintain and grow purchasing power over decades. Before investing in taxable accounts, the ultra-wealthy maximize their tax-advantaged options. This means fully funding 401(k)s, IRAs, and other retirement accounts that offer tax deductions or tax-free growth. Robbins is known to emphasize that the tax savings from these accounts can significantly boost long-term returns. The combination of tax advantages and compound growth makes these accounts incredibly powerful wealth-building tools. Perhaps most importantly, Robbins discovered that successful investors have the right mindset. They view investing as a necessity, not an option. They pay themselves first by investing before spending on discretionary items. The 1% also understand that building wealth requires sacrifice and delayed gratification. They're willing to live below their means and invest the difference, understanding that today's sacrifices enable tomorrow's financial freedom. Robbins' research shows that you don't need millions to invest like the ultra-wealthy. Here's how to get started: Open low-cost investment accounts with reputable brokers Set up automatic investments to remove emotion from the process Choose low-cost index funds that match your risk tolerance Rebalance regularly to maintain your target allocation Stay focused on long-term goals rather than short-term market movements Tony Robbins' interviews with the world's most successful investors reveal that wealth building isn't about finding secret strategies or taking huge risks. Instead, it's about following proven principles consistently over time: diversify across asset classes, minimize fees, automate investments, think long-term, and stay disciplined. The good news is that these strategies are accessible to everyone, not just the ultra-wealthy. By applying these principles and maintaining patience and discipline, ordinary investors can build extraordinary wealth over time. The key is starting now and staying consistent, regardless of market conditions or economic uncertainty. More From GOBankingRates The 5 Car Brands Named the Least Reliable of 2025 This article originally appeared on How To Invest Like the 1%, According to Tony Robbins Sign in to access your portfolio
The Citizen
4 hours ago
- Business
- The Citizen
Almost 40 municipalities facing sanctions from Treasury over mismanagement
Water boards in four provinces are owed a combined R17.7 billion while municipalities have not been paying pension fund contributions. Municipalities with poor payment records are risking a backlash from National Treasury. A letter was recently sent to Minister of Cooperative Governance and Traditional Affairs (Cogta) Velenkosini Hlabisa, warning that vital payments to municipalities would be throttled should they not get their accounts in order. Almost 40 municipalities were flagged by Treasury for owing water boards billions, as well as not honouring pension fund and medical aid payments of staff. Defaulting municipalities Finance Minister Enoch Godongwana wrote to Hlabisa on 30 June, giving the Cogta minister seven days to acknowledge the treasury's demands. Godongwana threatened to invoke section 216(2) of the constitution, which would place restrictions on Local Government Equitable Share (LGES) grant payments. A total of 39 municipalities are in the finance minister's crosshairs, including eight that owe the South African Revenue Service (Sars) a combined R197.5 million. Those eight and a further 13 have unpaid third-party pension fund contributions amounting to R819.5 million. The worst offender is Kopanong Local Municipality with R330 million in unpaid pension contributions, followed by Mafube and Mohokare municipalities with R253.4 million and R147.9 million, respectively. All three fall under the Free State government, which has been accused of prioritising 'exorbitant' salaries over service delivery. 'Withholding funds from struggling municipalities is not enough. All three levels of government have a responsibility to ensure that residents' rights are protected,' stated the Freedom Front Plus' Armand Cloete. Over R17 billion owed for water Unpaid pension fund contributions were dwarfed by the amount owed by municipalities to water boards. Treasury singled out 18 municipalities from four water boards, which have a combined debt of R17.7 billion. Matjhabeng Local Municipality — also in the Free State — has amassed a bill of R8.1 billion, while Merafong and Emfuleni municipalities in Gauteng each have debts exceeding R1 billion. The municipalities must provide Godongwana with proof that the amounts will be settled or face receiving only partial LGES payments, which will be earmarked solely for the debts owed. The finance minister warned that should those conditions not be met, he would motivate to Parliament for the cessation of all LGES payments to these defaulting municipalities. Hlabisa's office did not respond to requests for additional information, but Cogta's Free State office did acknowledge questions sent by The Citizen, with that response still pending at the time of publication. NOW READ: When is the deadline to register for free basic electricity?
Fashion United
5 hours ago
- Business
- Fashion United
Marks & Spencer warns of store closures as Chancellor eyes property tax increases
British retail giant Marks & Spencer has said that it could be forced to close a number of its stores if UK Chancellor Rachel Reeves increases tax on large properties. The department store chain is said to be leading a wider group of retailers, including Tesco, Primark and Asda, in opposing Reeves' plan to increase property tax in her next Autumn Budget. In evidence submitted to the Communities and Local Government secretary and seen by the Telegraph, Marks & Spencer said that if higher bills were to be imposed, 111 of its stores could be impacted and ultimately forced to close. In a statement, the retailer commented: 'Given larger retailers are often anchor tenants on the high street, taxing them to support smaller stores is a false economy – if larger shops close, smaller shops suffer. 'The proposed reforms could therefore accelerate the decline of the high street by encouraging retailers to close larger high street stores.' As it stands, the UK government's business rates reform, which is due to come into effect in April 2026, targets larger stores valued over 500,000 pounds, while smaller properties would have their rates reduced. Sources for the Telegraph said that while the Treasury had not yet decided on the new rates, any surcharge on large properties would be set at the maximum. A Treasury spokesman told the media outlet: 'We are a pro-business government that is creating a fairer business rates system to protect the high street, support investment, and level the playing field. 'To deliver our manifesto pledge and provide certainty and support to the high street we intend to introduce permanently lower tax rates for retail, hospitality, and leisure properties from next year. 'Unlike the current relief for these properties, there will be no cash cap on the new lower tax rates, supporting some of Britain's most loved high street chains to continue to create jobs and grow the economy.' FashionUnited has contacted Marks & Spencer with a request for more information.
