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Futures Slip as Geopolitical Tensions Overshadow Strong Bank Earnings

  US stock futures edged lower as investors balanced upbeat bank earnings against rising geopolitical unease tied to escalating tensions involving Iran. Contracts tied to the Dow, S&P 500, and Nasdaq all traded in the red, signaling a cautious start to the trading day. Major banks delivered solid quarterly results, with strong trading revenue and resilient consumer activity helping lift sentiment in the financial sector. Yet the optimism was tempered by concerns that potential US responses to developments in Iran could inject fresh volatility into global markets. Energy prices climbed as traders braced for possible disruptions. The pullback comes at a moment when investors are already navigating a crowded landscape of economic data, inflation readings, and policy uncertainty. With markets on edge, even strong corporate performance wasn’t enough to counter the broader risk-off mood.
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New tax-filing obligations await many unsuspecting Canadians in 2024


This article is about new tax-reporting obligations for trusts in Canada that will likely result in paperwork and significant costs for many Canadians, some of whom may not even know they are part of a trust. The new rules require that trusts, with few exceptions, annually file what’s known as a T3 Trust Income Tax and Information Return and disclose beneficiaries, among other information. Some taxpayers who haven’t previously had to file will find they have to incur accounting and legal fees to meet those obligations, tax experts say. The new measure comes as Canada increases efforts to crack down on tax dodging and strengthen its anti-money-laundering regime amid domestic and international scrutiny of the way it combats financial crime.


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