Canadian finance minister’s resignation letter to PM Trudeau

OTTAWA (Reuters) – Canada’s Finance Minister Chrystia Freeland unexpectedly resigned on Monday, saying she was no longer on the same page with Prime Minister Justin Trudeau about the best path forward for Canada. Following is the full text of her resignation letter. December 16, 2024 The Right Honourable Justin Trudeau, P.C., M.P. 80 Wellington Street …

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International, domestic insurers push into catastrophe-hit US property markets

By Carolyn Cohn and Noor Zainab Hussain LONDON (Reuters) – International and domestic insurers are pushing into the U.S. market for hard-to-protect homes, charging high premiums and enjoying strong profits after some U.S. firms pulled out. Rising losses from storms, hurricanes and wildfires in recent years have caused some insurers, such as Allstate and State …

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India tax panel may consider lowering GST on online food delivery fees, report says

NEW DELHI (Reuters) – India’s GST Council, chaired by the federal finance minister, may lower the tax on food delivery charges by e-commerce operators to 5% from 18%, CNBC-TV18 reported, citing sources. The potential tax cut, which could take effect from Jan. 1, 2022, would not allow food delivery platforms such as Zomato and Swiggy …

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Aussie regulator sues Ladbrokes owner Entain over anti-money laundering breaches

(Reuters) -Australia’s financial crime watchdog has launched legal proceedings against Ladbrokes owner Entain, alleging breaches of the country’s anti-money laundering (AML) and counter-terrorism financing (CTF) laws by its online betting platforms. The Australian Transaction Reports and Analysis Centre (AUSTRAC) said on Monday that Entain Group Pty Ltd’s management failed to adequately oversee its AML and …

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Honeywell considers spinning off aerospace business amid Elliott’s breakup push

By Shivansh Tiwary (Reuters) – Honeywell said on Monday it was considering a plan to separate its high-margin aerospace business, a move backed by activist investor Elliott Investment Management, which has been pushing for the company’s breakup. The company, one of the last surviving U.S. conglomerates, has been on a deal-making spree this year under …

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Jana urges Lamb Weston board to fix company or put itself up for sale

By Svea Herbst-Bayliss NEW YORK (Reuters) – Activist investor Jana Partners urged Lamb Weston on Monday to replace board members and top executives to improve its performance or else put itself up for sale. “Lamb Weston’s Board and management have wasted the chance to sustain and grow shareholder value in a high-quality business,” the hedge …

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