GST evasion: 450 arrests since 2020-21

Finance Ministry says drive against fake invoicing intensifying again after second wave slowdown The government continues to tighten the noose around GST evaders, though its crackdown on fake invoices slowed down in recent months due to the COVID-19 pandemic’s resurgence, the Finance Ministry said on Tuesday. Citing the misuse of Input Tax Credit (ITC) provisions as the most common modus […]

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Fed ‘binge’ created inflation ‘whirlwind’: Steve Forbes

Inflation here to stay due to Fed ‘printing too much,’ Steve Forbes says Forbes chairman and editor-in-chief Steve Forbes explains why he thinks inflation is ‘here for a while.’ Steve Forbes, the chairman an editor-in-chief of Forbes Media, argued that the Federal Reserve’s policies have led to long-lasting inflation and more government spending will only make it worse on FOX […]

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Republicans not confident in Biden’s plans to exempt farms, small businesses from potential tax hikes

Mulvaney on impact of tax hikes, unemployment benefits Former Office of Management and Budget Director and former White House chief of staff Mick Mulvaney discusses stimulus, unemployment and taxes.  Republicans are not convinced that President Biden’s plans to shield farmers and small business owners from changes to death taxes are practical –potentially putting millions of family-owned businesses at risk. A […]

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The City Economic Recovery Tracker: April 2021

Editor’s note: Below you’ll find the 10th release of the City Economic Recovery Tracker (CERT), originally published May 24, 2021. Visit the CERT homepage for the latest data. None of the 10 cities in Investopedia’s City Economic Recovery Tracker (CERT) experienced a decrease in their economic recoveries for the month of April, with nine out of 10 seeing a month-over-month increase in […]

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Used car prices steer toward Fed Chairman Powell’s inflation hunch

Fed: Actual rise in inflation larger than expected Former Dallas Fed Danielle DiMartino Booth and The Americas at Natixis Chief Economist Joseph Lavorgna discuss the newly released Fed minutes and inflation fears. Used car prices are muscling their way onto the watchlists of some of the nation’s most sophisticated economic forecasters, most notably, the Federal Reserve. New data released Friday […]

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This State Has the Worst Drought in America

Extreme heat and wildfires have plagued the western United States for weeks. A heatwave in the Northwest brought temperatures well into the 100s and broke records for the highest temperature in the city after city. A new study shows that, without manmade climate changes, the figures could not have risen so high. The weather in the West also has been […]

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EU Raises Growth Outlook, Warns Of Higher Than Forecast Inflation

The European Commission raised the growth forecast for the euro area on Wednesday and warned that inflation could be higher than expected if supply constraints persist. Eurozone is set to grow 4.8 percent this year, the executive arm of the EU said in its latest summer projections. That is stronger than the spring projection of 4.3 percent. The outlook for […]

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Companies hiking wages at an 'unprecedented' rate, but likely a one-off

Inflation ‘outstripped’ real wages: Former White House economist Former Council of Economic Advisers Acting Chairman Tyler Goodspeed argues real wages have decreased because nominal wages are being ‘outstripped’ by inflation. Companies across the country are raising wages at one of the fastest paces in decades, a bid to lure Americans back to the workforce as businesses struggle to onboard new […]

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