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FX volatility expectations fall after traders ‘burned’ trying to react to US president’s trade threatsView the full article

Lesetja Kganyago warns institutions are increasingly a target as the principle of independence comes under attackView the full article

Ex-spy Warnig’s plan to involve American investors shows breadth of Trump’s rapprochement with Russian presidentView the full article

Alison McGovern pledges to reform assessment process that ‘leaves people on the scrapheap’View the full article

Economic case looked bleak even before the president’s re-election sent a chill through sectorView the full article

‘Tide has turned’ after backlash led to PFI being abandoned in 2018View the full article

Niels Troost’s lawyers argue EU may have been influenced by the trader’s estranged former business partner View the full article

US president’s actions have fuelled expectations in group that cases against Gautam Adani will collapseView the full article

Move raises fear that commodity will be next to be targeted for tariffs after levies on steel and aluminiumView the full article

The National Small Business Association (NSBA) released its 2025 Small Business Taxation Survey, highlighting the challenges small businesses face due to federal tax laws. The report underscores concerns about the expiration of the 2017 Tax Cuts and Jobs Act, which many small businesses fear will result in significant tax increases. According to the survey, 83% of small businesses are structured as pass-through entities, meaning they pay business taxes at the personal income level. This structure makes them particularly vulnerable to potential tax hikes if Congress does not extend expiring tax cuts. Other major findings include: More than 20 hours per year are spent dealing with federal tax compliance by most small-business owners, even though many hire external tax professionals. 90% of small businesses report that federal taxes impact their day-to-day operations, with one in three citing a significant impact. More than half of small-business owners say accessing needed information directly from the IRS is difficult. Tax administration and complexity—rather than financial cost—is cited as the largest burden. Among small businesses that outsource goods internationally, China is the most common country they purchase from. NSBA has long warned policymakers about the disruptions caused by sunsetting tax laws, emphasizing how these uncertainties place additional burdens on small businesses. The expiration of key tax provisions, including the 199A Qualified Business Income Deduction, remains a top concern. “Given that the majority of small-business owners pay business taxes at the personal income level—83 percent are pass-through entities—it’s no wonder small businesses are very concerned about potential and significant tax hikes if Congress fails to address the expiring tax cuts,” stated NSBA President and CEO Todd McCracken. The survey results come as small-business advocates urge Congress to prioritize tax stability and long-term relief. NSBA Board Chair Michael Canty, of Alloy Precision Technologies, emphasized the need for predictable tax policies that ensure small businesses are not disproportionately affected. “As Congress embarks on any tax extender or tax reform discussion, it is imperative that small businesses are afforded tax stability, predictability, and permanency, not to mention parity with larger businesses,” Canty stated. This article, "NSBA Survey Finds Tax Complexity a Major Burden for Small Businesses" was first published on Small Business Trends View the full article

The National Small Business Association (NSBA) released its 2025 Small Business Taxation Survey, highlighting the challenges small businesses face due to federal tax laws. The report underscores concerns about the expiration of the 2017 Tax Cuts and Jobs Act, which many small businesses fear will result in significant tax increases. According to the survey, 83% of small businesses are structured as pass-through entities, meaning they pay business taxes at the personal income level. This structure makes them particularly vulnerable to potential tax hikes if Congress does not extend expiring tax cuts. Other major findings include: More than 20 hours per year are spent dealing with federal tax compliance by most small-business owners, even though many hire external tax professionals. 90% of small businesses report that federal taxes impact their day-to-day operations, with one in three citing a significant impact. More than half of small-business owners say accessing needed information directly from the IRS is difficult. Tax administration and complexity—rather than financial cost—is cited as the largest burden. Among small businesses that outsource goods internationally, China is the most common country they purchase from. NSBA has long warned policymakers about the disruptions caused by sunsetting tax laws, emphasizing how these uncertainties place additional burdens on small businesses. The expiration of key tax provisions, including the 199A Qualified Business Income Deduction, remains a top concern. “Given that the majority of small-business owners pay business taxes at the personal income level—83 percent are pass-through entities—it’s no wonder small businesses are very concerned about potential and significant tax hikes if Congress fails to address the expiring tax cuts,” stated NSBA President and CEO Todd McCracken. The survey results come as small-business advocates urge Congress to prioritize tax stability and long-term relief. NSBA Board Chair Michael Canty, of Alloy Precision Technologies, emphasized the need for predictable tax policies that ensure small businesses are not disproportionately affected. “As Congress embarks on any tax extender or tax reform discussion, it is imperative that small businesses are afforded tax stability, predictability, and permanency, not to mention parity with larger businesses,” Canty stated. This article, "NSBA Survey Finds Tax Complexity a Major Burden for Small Businesses" was first published on Small Business Trends View the full article

Bid to boost Ukrainian president comes as UK prime minister prepares to host European leaders at vital Sunday summitView the full article

Community Bank & Trust has launched a Refund Anticipation Loan for the Sick Leave and Family Leave (SLFL) tax credit, also known as the Self-Employed Tax Credit (SETC), providing immediate financial relief to self-employed individuals. The loan offers an advance on tax refunds, allowing gig workers, independent contractors, and sole proprietors to access their funds without waiting for IRS processing. The SLFL program was established under the Families First Coronavirus Response Act (FFCRA) to support self-employed individuals affected by COVID-19. Community Bank & Trust’s Refund Anticipation Loan eliminates long IRS wait times, providing instant access to funds at no cost to the applicant. Key benefits of the SLFL Refund Anticipation Loan include: Instant Access to Funds – Applicants receive their proceeds immediately instead of waiting months for the IRS. No Credit Check or Personal Guarantee – Eligibility is based solely on SLFL tax credit qualification. Zero Upfront Cost – The tax preparation processing fee is covered by the bank from the loan proceeds. Secure and Compliant – Backed by a federally regulated financial institution, ensuring full compliance with IRS and banking regulations. The SLFL (SETC) tax credit is a federally recognized tax benefit claimed directly on IRS Form 7202. Community Bank & Trust has conducted extensive due diligence to ensure all applications are IRS-compliant, providing a legitimate pathway for self-employed individuals to claim their entitled refunds. “Self-employed individuals are the backbone of the American economy, yet they often lack access to the financial support available to traditional employees,” said Steve Jeffries, President of Community Bank & Trust. “By offering a refund anticipation loan on the SLFL tax credit, we are giving self-employed individuals the financial flexibility they need without having to wait on extended government processing times.” Eligible self-employed individuals can apply for the SLFL refund anticipation loan through an approved processor working with Community Bank & Trust. The application process is fully online, fast, and secure, ensuring that funds are disbursed as quickly as possible. This article, "Community Bank & Trust Introduces Refund Anticipation Loan for Self-Employed Tax Credit" was first published on Small Business Trends View the full article

Community Bank & Trust has launched a Refund Anticipation Loan for the Sick Leave and Family Leave (SLFL) tax credit, also known as the Self-Employed Tax Credit (SETC), providing immediate financial relief to self-employed individuals. The loan offers an advance on tax refunds, allowing gig workers, independent contractors, and sole proprietors to access their funds without waiting for IRS processing. The SLFL program was established under the Families First Coronavirus Response Act (FFCRA) to support self-employed individuals affected by COVID-19. Community Bank & Trust’s Refund Anticipation Loan eliminates long IRS wait times, providing instant access to funds at no cost to the applicant. Key benefits of the SLFL Refund Anticipation Loan include: Instant Access to Funds – Applicants receive their proceeds immediately instead of waiting months for the IRS. No Credit Check or Personal Guarantee – Eligibility is based solely on SLFL tax credit qualification. Zero Upfront Cost – The tax preparation processing fee is covered by the bank from the loan proceeds. Secure and Compliant – Backed by a federally regulated financial institution, ensuring full compliance with IRS and banking regulations. The SLFL (SETC) tax credit is a federally recognized tax benefit claimed directly on IRS Form 7202. Community Bank & Trust has conducted extensive due diligence to ensure all applications are IRS-compliant, providing a legitimate pathway for self-employed individuals to claim their entitled refunds. “Self-employed individuals are the backbone of the American economy, yet they often lack access to the financial support available to traditional employees,” said Steve Jeffries, President of Community Bank & Trust. “By offering a refund anticipation loan on the SLFL tax credit, we are giving self-employed individuals the financial flexibility they need without having to wait on extended government processing times.” Eligible self-employed individuals can apply for the SLFL refund anticipation loan through an approved processor working with Community Bank & Trust. The application process is fully online, fast, and secure, ensuring that funds are disbursed as quickly as possible. This article, "Community Bank & Trust Introduces Refund Anticipation Loan for Self-Employed Tax Credit" was first published on Small Business Trends View the full article

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Adopting these tools will define future success in the profession. Accounting Influencers with Rob Brown Go PRO for members-only access to more Rob Brown. View the full article

Innovation, AI, and next-gen leaders must successfully adapt to constantly changing landscapes. Accounting Influencers with Rob Brown Go PRO for members-only access to more Rob Brown. View the full article

Innovation, AI, and next-gen leaders must successfully adapt to constantly changing landscapes. Accounting Influencers with Rob Brown Go PRO for members-only access to more Rob Brown. View the full article

An accepted fact of childhood: Monopoly is a slow game that requires consecutive snow days to successfully finish. And, by god, no matter what you do, do not end up as the banker, the most tedious and thankless of jobs. [Photo: Hasbro] Though they wouldn’t put it in those terms, the folks at Hasbro likely know that’s how a lot of players feel. So today the company is announcing a new set that bridges the gap between Monopoly Junior and the classic version for ages 8 and older—speeding things up by ditching the banker and paper currency entirely in favor of an app. “Kids don’t carry cash these days . . . [but] they probably do have a mobile device,” says Brian Baker, SVP of board games at Hasbro, who adds that children are also observing a lot of tap-to-pay in the world. That led the team to consider how they could combine modern technology with intuitive behavior “to completely reinvent the experience,” Baker says. [Photo: Hasbro] Banking on App Banking Monopoly turns 90 this year, and Monopoly App Banking officially hits stores in August. Though Hasbro has released a cashless version of the game before (the Monopoly Electronic Banking edition, which utilizes a calculator-looking device to help automate finances), this is the first time an app has been brought into the ecosystem. Here’s how it works: After downloading the app, players put a smartphone or tablet into a stand—dubbed the “phone throne” in-house at Hasbro—and it stays there all game. Baker says the idea was to keep the focus on the board, rather than having to pass the phone around. Whereas board games like Monopoly usually involve combing through a dense list of instructions before playing (and eventually arguing over them), this box contains just some quick-reference cards. The app kicks everything into gear quickly, directing players to select a token and its associated “credit card,” and snaps a photo of each player to indicate whose turn it is. Players roll physical dice, and then scan a QR code representing the space they’ve landed on. The app handles the property auctions and transactions and does all the basic accounting, speeding things up immensely—and provides a real-time leaderboard in a game whose player standings are often nebulous, lest everyone sit around and count money for five minutes. Is Monopoly App Banking reductive to kids learning basic accounting skills the way many of us no doubt did via the classic game? Maybe. But to Baker’s earlier point, it’s hands-down more reflective of the online banking ecosystem we’re all accustomed to today, which runs on apps. Another thing you’ll find in this version: an infusion of new life into old hubs like free parking, jail, and the railroads, thanks to built-in interactive mini games. “There are some spaces where, if you land on them, nothing really happens,” Baker says. “And if you’re an 8-year-old kid, you can get bored really, really quickly.” Take the railroads. When you land on one now, the app turns it into a high-speed train that brings the player on board; you tap your card to stop the train, and wherever it lands, that’s where you move. [Photo: Hasbro] Marvin Gardens vs. a Chocolate Factory To young players, the new elements will likely feel organic; they’re not just gimmicks for gimmicks’ sake. Baker says that’s thanks to FunLab, Habsro’s in-house testing center in Pawtucket, Rhode Island. The lab gives the company an opportunity to converse with players and their parents, as well as to observe how they interact with various concepts at the earliest stages of product development. To wit: “I remember watching a mother struggling to put together Hungry Hungry Hippos out of the box—it comes in nine parts—while her child was screaming,” Baker says. “And the painful part of it was, after she finally got it together and they got to play, she had to take it apart to put it back in the box. It doesn’t fit back in. So I’m happy to report that the new Hungry Hungry Hippos requires no assembly out of the box, and when you’re done playing, it fits back in.” In the case of Monopoly App Banking, Baker says the team needed to test and understand the role of the mobile device at the table—particularly because of the notion many people have that when a family is doing an activity together like playing a board game, smartphones should be put away. “We really wanted to make sure that we used FunLab as a way to kind of validate the idea that we can use technology for good and not evil, and there is a place for a mobile device at the table if thoughtfully integrated,” he says. Another place you can see FunLab’s work: the properties on the board. “If you asked a kid, ‘Hey, what property would you dream of owning?’ I guarantee you they’re not going to say Marvin Gardens, right? They’re going to be like, ‘I want a chocolate factory’ or ‘I want to buy a time machine,’” Baker says. “It was really fun to just kind of take the guardrails off and let the kids guide us in the creation of this product.” On the board you’ll find soccer fields and water parks, an infinite-pizza generator, and more. What you won’t find is anything an 8-year-old kid would deem too complicated, oversimplified, or unnecessary. Those kids, Baker says, “don’t pull any punches. They’ll tell you exactly what they think.” [Photo: Hasbro] The Sand Timer Test Are apps the future of Monopoly, if not board games at large? Baker says Hasbro has been trying to honor the boundary between tech that is intrusive and tech that is complementary. Take the standard board game sand timer. How many times have you nearly come to fisticuffs over someone cheating the clock with it? “There are easier ways to do that, and the best technology sometimes is in your pocket,” Baker says. “A part of our innovation road map at Hasbro when it comes to board games is exploring new technology and then thoughtfully applying it to the experience.” As for what the rest of this 90th-anniversary year holds for Monopoly, in January Hasbro announced expansion packs. And, according to Baker, the company plans to continue developing intellectual property partnerships, such as those that brought about the recent hit Pokémon and Harry Potter editions of the game. Monopoly is, after all, big business—and you wouldn’t want anyone getting bored with it. Especially younger kids. “The Monopoly game is the biggest product that Hasbro sells,” Baker confirms. “I can say confidently that this is by far the most innovative version of Monopoly we’ve ever created. . . . We’re super proud of that.” View the full article

A typical RV has to plug in at a campground to run the power inside. But Airstream’s newest Basecamp 20Xe trailer is designed to power itself in remote locations: If you want to spend a week in the wilderness, you can theoretically use an induction stove, keep your laptop charged, turn on the air-conditioning, and have hot water for the shower—even if you’re nowhere near any utilities. [Photo: Airstream] “Over the past several years, we’ve seen a growing demand from our customers for what we call energy independence,” says Bob Wheeler, Airstream president and CEO. “The flexibility to not have to go to a campground with established power and energy supplies, to give them the freedom to camp anywhere they want. The phenomenon was really exposed during the pandemic—a significant shortage of campground and campsite availability.” A different electric Airstream model, the Trade Wind, has a smaller battery and works well for a weekend of use, but the company got feedback from customers who wanted to be able to stay off-grid longer. The new Basecamp has four times more power, with a 10.3-kilowatt lithium battery, 600 watts of rooftop solar, and the option to plug in an additional portable 300-watt solar panel if you’re parked under a tree and want to stretch the attachment into the sun. (The Basecamp will start at $76,900.) The flat solar panels on the roof, custom-made for Airstream, are also designed to work efficiently even in partial shade. [Photo: Airstream] All the plugs inside run directly off the battery, including the optional AC (in a small size, so it runs efficiently) and microwave. The heat and hot water also use the battery, though if someone wants to camp in cold winter weather, they might want to add an optional propane tank. How long the power lasts depends, of course, on how much power someone uses and how sunny it is outside. But “theoretically, if you’re using those larger capacities very infrequently, you could be out there indefinitely,” says Bryan Melton, vice president at Airstream. The bigger limiting factor is access to water, though the trailer is designed to use water efficiently. The shower recirculates water until it’s heated up, and the unit also has an option for a composting toilet. [Photo: Airstream] One thing the battery can’t do: help the vehicle in front of it tow the trailer when it moves (which would save gas, or conserve battery power if an EV is doing the towing). Although the company released a conceptual design in 2022 for a solar-and-battery-powered trailer that could propel itself, that version isn’t there yet. It’s likely to come later. “We’re watching for the right opportunity to do something that has at least some of those features,” Wheeler says. Lightship, a startup competitor with a luxury electric travel trailer, does offer that option. View the full article

Working Title among British groups to criticise proposals to weaken copyright laws View the full article

Hungarian prime minister tells EU Council president Costa that he will oppose any bloc-wide agreement View the full article

Frontline fighters, citizens and politicians fear Kyiv faces most perilous phase of war since early weeks of Moscow’s full-scale invasionView the full article

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. Since the pandemic housing boom fizzled out, the number of unsold completed U.S. new single-family homes has been rising. Here’s a look at the recent historical numbers for January: January 2018: 63,000 January 2019: 76,000 January 2020: 76,000 January 2021: 40,000 January 2022: 32,000 January 2023: 68,000 January 2024: 83,000 January 2025: 115,000 The January figure (115,000 unsold completed new homes) that recently published is the highest level since July 2009 (126,000). Let’s take a closer look at the data to better understand what this could mean. To put the number of unsold completed new single-family homes into historic context, ResiClub created a new index: ResiClub’s Finished Homes Supply Index. The index is one simple calculation: The number of unsold completed U.S. new single-family homes divided by the annualized rate of U.S. single-family housing starts. A higher index score indicates a softer national new construction market with greater supply slack, while a lower index score signifies a tighter new construction market with less supply slack. Big picture: The index shows that there’s more new construction slack in the 2025 housing market as compared to the 2023 and 2024 markets; however, it’s still far less slack than the 2008 housing bust. In housing markets and builder communities where unsold completed inventory gets too high, local homebuilders could (and some already have) turn to get bigger affordability adjustments (i.e., bigger incentives or even outright price cuts). That raises the question: Where is this unsold new home inventory located? Where can buyers find deals? While the U.S. Census Bureau doesn’t specify the locations of unsold completed single-family new construction, it’s safe to assume that most of it is in the South, based on where total active housing inventory for sale is increasing and where homebuilders are completing the most homes (see chart below). As ResiClub has documented, both active resale and new homes for sale remain the most limited across huge swaths of the Midwest, Northeast, and Southern California. That’s likely where you’ll find the least unsold completed new construction—and where builders have greater pricing power. In contrast, active housing inventory for sale has grown the most in the Gulf region, including housing markets like Tampa, Punta Gorda, and San Antonio. These areas saw major price surges during the pandemic housing boom, with home price growth outpacing local income levels. As pandemic-driven migration slowed and mortgage rates rose, markets like Tampa and Austin faced challenges, relying on local income levels to support frothy home prices. This softening trend is further compounded by an abundance of new home supply in the Sun Belt. Builders are often willing to lower prices or offer affordability incentives to maintain sales, which also has a cooling effect on the resale market. Some buyers, who would have previously considered existing homes, are now opting for new homes with more favorable deals. “The number of builders’ unsold inventory homes remains above the seasonal norm,” wrote Dillan Krieg, a research analyst at John Burns Research and Consulting on LinkedIn. “We’ve been tracking this trend for a while as builders rely on speculative starts to capture buyers. However, some builders are facing pricing pressure—especially in key Florida and Texas markets, where resale supply is also well above pre-COVID norms.” View the full article

When Leonard Foglia was invited to direct an opera based on Herman Melville’s masterpiece about a white whale, his first reaction was: “Moby-Dick. That’s great!” “Then I ran to a used bookstore and got the book,” he recalled, “and I thought: Oh my God, what am I in for here? It’s so daunting. I didn’t panic, but I thought, How do we do this?” How he and his collaborators did it will be on display at the Metropolitan Opera beginning March 3. The opera is composed by Jake Heggie to a libretto crafted by Gene Scheer. To begin with, Scheer had to whittle a novel of more than 600 pages down to a 64-page libretto. He kept as much of Melville’s language as possible, and estimates that 40% to 50% of his libretto can be found in the original text, though he often tweaked the phrasing to make it more singable. Heggie and his initial partner, Terrence McNally (who withdrew for health reasons), had already decided to lop off the opening chapters, which take place on land. They set the entire opera aboard the whale-hunting ship Pequod. Another crucial change was renaming the narrator, calling him Greenhorn to reflect his status as a novice aboard the ship. Now the book’s famous opening line, “Call me Ishmael,” is transposed to the very end of the opera when the character has matured. “In the novel, Ishmael is telling a story that happened many years ago,” Scheer said. “But in the theater, you want to see it happen in real time. . . . We’re watching him take in all the experiences so that when he says ‘Call me Ishmael,’ he’s ready to write the book. In essence, this opera is the education of Ishmael.” Tenor Stephen Costello, who is performing the role for the fifth time and is the lone cast holdover from the Dallas premiere in 2010, sees his character as “the only one who really has an arc.” “He goes on the Pequod because there was nothing for him on land,” Costello said. “So he’s either going to die at sea or figure out who he is.” In addition to Costello, the Met cast includes tenor Brandon Jovanovich as the vengeance-obsessed Captain Ahab. Pip, his cabin boy, is written as a “trousers role” (a male character portrayed by a woman) and will be sung by soprano Janai Brugger. Starbuck, the first mate, will be baritone Peter Mattei, and bass-baritone Ryan Speedo Green will sing the part of Queequeg. Karen Kamensek conducts the eight performances through March 29. The opera, commissioned to celebrate the opening of a new opera house in Dallas, has been a success from the beginning, drawing praise from audiences and critics—and even scholars. Bob Wallace, a professor at Northern Kentucky University and past president of the Melville Society, admired the opera so much that he wrote a book about its creation. “Scheer and Heggie did a brilliant job of shrinking the novel to make it fit the stage and yet preserve so much of the essence of it,” he said in an interview. As much as critics admired Scheer’s adaptation and Heggie’s tuneful, atmospheric, and at times gripping score, they lavished special praise on the physical production, with sets by Robert Brill and projections by Elaine J. McCarthy. The action, Steve Smith wrote in The New York Times, “played out against a multimedia-enriched staging that ranged from striking to near-miraculous.” Perhaps the most stunning effect is the way animated projections superimposed on a climbing wall that is curved a bit like a skateboard ramp create the illusion of the crew leaving the Pequod to board three whaling boats. “A lot of the excitement and thrill of watching this is due to the work of the production team,” Scheer said. “Lenny kept saying to me, ’You imagine it the way you want it, and let me figure out how to do it.’” That often involved imposing unusual physical demands on the singers. For instance, when Pip gets lost at sea, his character sings the equivalent of an operatic mad scene dangling high above the stage, with projections making it appear he’s treading water. “I said to Janai when we first rehearsed it,” Foglia recalled, “‘Okay, you can just get mad at me now, because you have to sing your hardest aria hanging from not even a full harness, just a single wire.’” In addition, Queequeg and Greenhorn climb up and down ladders to sing at the top of the mastheads. Ahab, who has lost a leg in a prior encounter with Moby-Dick, has to hobble on a wooden prosthesis. And Greenhorn—finally named Ishmael—ends the opera grabbing onto a whale hook from a passing ship that lifts him to safety. “I joke with them that everything opera singers count on in life—having both feet planted on the ground—I’ve taken away from them,” Foglia said. —By Mike Silverman, Associated Press This story was first published February 26, 2025. It was updated on February 28, 2025, to correct the name of Northern Kentucky University. View the full article