Global companies have racked up more than $59 billion in losses from their Russian operations, with more financial pain to come as sanctions hit the economy and sales and shutdowns continue, according to a review of public statements and securities filings.
MONEYWEB
app instead?
After slump. 21:37
Image: Bloomberg
Itâs time for Bitcoinâs corporate champions to account for a brutal selloff in the cryptocurrency.
Companies such as Tesla Inc. and MicroStrategy Inc. that have emerged as some of Bitcoinâs biggest backers will have to reckon with their digital holdings in earnings reports next week after the price of the token tumbled 41% in the second quarter. Square Inc., one of the few other large companies to add the cryptocurrency to its balance sheet, will report results in August.
INSIDERGOLD
Subscribe for full access to all our share and unit trust data tools, our award-winning articles, and support quality journalism in the process.
Bitcoin s corporate diehards face earnings reckoning after slump accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
Provided by Dow Jones
By Mark Maurer U.S. companies might have to pay more in taxes to fund President Biden s $2.3 trillion infrastructure plan. How much they owe and to whom will likely remain a mystery. Public companies in America disclose their total tax payments and their tax rate. But they have resisted plans that would require them to break down how much they pay to the federal government, states or foreign countries. Businesses say the additional disclosure would be costly and potentially misleading. This is an area that most companies would prefer to keep lurking in the shadows, especially those that are not paying their fair share of taxes, so the less details the better, said David Zion, head of Zion Research Group, an accounting and tax research firm that serves investors.