PSG president says world will likely be ‘shocked’ by revenues

PARIS, FRANCE – AUGUST 10: Lionel Messi poses in the Paris Saint-Germain shirt after signing a 2-year contract at Parc des Princes in Paris, France on August 10, 2021.

Photo by Paris Saint-Germain Football / PSG via Getty Images

Paris Saint-Germain President Nasser Al-Khelaifi said the world will be “shocked” at the financial revenue generated by signing the club of global soccer superstar Lionel Messi.

Messi signed a two-year deal with PSG with an option for a third that earns him an annual salary of $ 41 million plus bonuses and a reported $ 30 million signing fee.

The signing is expected to generate commercial revenue through such channels as selling jerseys. When Cristiano Ronaldo signed for Italian giant Juventus in 2018, its shirts valued at more than $ 60 million were sold in just 24 hours.

At a press conference on Messi’s reveal as a PSG player on Wednesday, Al Khelaifi suggested the club could release more accurate figures behind the deal at a later date, but told reporters that they would be “honestly shocked by the numbers we are getting to have”. . “

“I only hope [Messi] won’t ask for more salary, “he joked.

Messi has left FC Barcelona Last week after financial regulations imposed by Spanish La Liga made it financially impossible for the ailing club to fulfill their five-year deal.

The 34-year-old Argentinean broke down in tears on Monday when he said goodbye to Barcelona and said at the press conference on Wednesday that the past week had been an “emotional rollercoaster ride”.

He has won the FIFA Player of the Year and the European Golden Shoe for the continent’s top goalscorer six times.

Messi – considered by many to be the greatest footballer of all time – will compete at PSG alongside his former Barcelona teammate, Brazilian superstar Neymar and 22-year-old French phenomenon Kylian Mbappé to form an impressive top flight at the Parisian Giants.

In addition to recapturing France’s Ligue 1 title, PSG are also aiming for an elusive first UEFA Champions League title after falling in the semi-finals against Manchester City last year. Owners Qatar Sports Investment have invested extravagantly to build a high profile squad in hopes of dominating European football.

“I’m really looking forward to getting out on the field and my hopes of victory remain intact and that’s why I’m here,” Messi said at the press conference.

“I want to win another Champions League and I think I’m in the right place for that.”

The cash retains pouring into CT as tax revenues rise

Photo courtesy of WNPR

Increased tax revenues have increased Connecticut’s budget surplus

State budget revenue rose nearly half a billion dollars on Thursday – the second big improvement in less than a month, announced Governor Ned Lamont.

And while the government didn’t comment on whether it expects this latest good news to continue, a key lawmaker said this year’s improvement can only help lawmakers and the governor reach an agreement on the next biennial state budget soon.

Report from Thursday – which came just three days after the state income tax filing deadline – also follows an April 30 forecast that said revenue rose $ 205 million for the current fiscal year a whopping $ 1.6 billion for the next biennial cycle.

“That doesn’t happen very often in the state,” Lamont said at a live streaming briefing in the late afternoon. “People are starting to pay attention.”

Wall Street rating agencies improved Connecticut’s bond rankings twice this spring as the state, which built a record-breaking budget reserve last fiscal year, built on it in 2021.

Connecticut is now poised to accelerate hundreds of millions of dollars in unwinding its massive pension debt. Even so, Unfunded pension obligations will remain a major challenge for Connecticut for decades to come.

The budget surplus increases

Lamont’s budget office on Thursday forecast a surplus of $ 470 million – just over 2% of the general fund – For the fiscal year ending June 30th, it is $ 220 million more than forecast a month ago.

And 80% of that improvement, $ 176 million, is in revenue, with sales, corporate, and estate taxes increasing, as well as income tax payments related to paycheck withholding.

However, the rest of the recent surge of around $ 300 million is technically outside of the General Fund.

They are primarily income tax payments tied to capital gains and other capital gains. Because these sources can fluctuate greatly from year to year, the state launched a volatility adjustment program in 2017 that captures a portion of this income when it exceeds a certain threshold, keeps it outside of normal finances, and returns it after the end of the year Fiscal year transfers directly into the rainy day fund or into the pensions without money.

According to Lamont, Connecticut’s volatility adjustment program is now just over $ 1 billion, roughly $ 300 million more than its budget bureau forecast a month ago.

However, Lamont did not elaborate on whether its administration believes these revenue improvements will continue into fiscal years 2021-22 and 2022-23. His household staff began negotiating with senior lawmakers Thursday to create a new two-year plan for spending and income.

Executives: More confident that a new budget deal will be reached soon

Both House Speaker Matt Ritter, D-Hartford, and Senate President Martin M. Looney, D-New Haven, predicted the latest jump in sales earlier this week.

Connecticut typically sets a deadline for filing state income tax on April 15th – due to the federal government. Both have postponed it to May 17 this year because of the coronavirus pandemic, which means government analysts had to start their revenue projections to aid budget negotiations based on incomplete tax return data.

But lawmakers and Lamont have been hinting throughout the spring that early tax returns were showing promising numbers.

Ritter and Looney said Wednesday They expect to reach an agreement with Lamont before the end of the regular legislature on June 9, and Thursday’s forecast, they added, only helps.

However, both heads of state and government warned that despite improved forecasts, the legislature and governor must be willing to compromise in order to reach an agreement in time.

Lamont, a fiscally moderate Democrat, is currently opposed to tax hikes while progressive lawmakers support income tax surcharges for the rich and a new tax on digital media ads targeting online giants like Google and Facebook.

The Liberal Democrats plan to use these funds to raise government income tax cuts for low and middle income households, a $ 50 million bailout for restaurants, more hundreds of million dollars in aid to cities and towns, and additional funding for social welfare Provide services and health care and fund long-term investments in poor urban centers.

“There has to be some understanding that there has to be further investment,” said Ritter in communities and companies affected by the pandemic.

Accel Leisure’s 4Q Revenues Plunge 39%, Miss Estimates

Bloomberg

Biden Eyes first big tax hike since 1993 in next economic plan

(Bloomberg) – President Joe Biden is planning the first major federal tax hike since 1993 to fund the long-term economic program designed as a follow-up to his Pandemic Control Act, according to people familiar with The Covid-19 Business Stimulus Act $ 1.9 trillion, the next initiative, which is likely to be even bigger, will not rely solely on government debt as a source of funding. While it became increasingly clear that tax hikes will be a component – Treasury Secretary Janet Yellen said at least part of the next bill will have to be paid and pointed to higher rates – key advisors are now preparing for a package of measures that will could include an increase in both corporate and individual tax rates for high earners. With every tax break and every loan that has its own lobby constituency, tinkering with tax rates is associated with political risks. This explains why the tax increases in the 1993 revision of Bill Clinton stand out from the modest changes that have been made since then. For the Biden government, the planned changes not only offer the opportunity to fund important initiatives such as infrastructure, climate and expanded aid for poorer Americans. But also to address what Democrats argue is inequalities in the tax system itself. The plan will test both Biden’s ability to woo Republicans and Democrats’ ability to remain unified. “His whole outlook has always been that Americans believe tax policies must be fair, and he has looked at all of his policy options through that lens,” said Sarah Bianchi, director of US policy at Evercore ISI and former Biden economic assistant. “That is why the focus is on combating inequalities between work and wealth.” While the White House has opposed a direct wealth tax as suggested by progressive Democratic Senator Elizabeth Warren, current government thinking is targeting the rich. The White House is expected to see four people familiar with the discussions propose a series of tax increases, largely in line with Biden’s 2020 campaign proposals. The tax hikes, included in a broader infrastructure and jobs package, are likely to repeal portions of President Donald Trump’s tax bill for 2017, benefiting businesses and high net worth individuals, and making further changes to make tax law more progressive, according to the one with the Plan trusted people. The following proposals are among those currently planned or under consideration, according to respondents who did not want to because the discussions are private: Increase the corporate tax rate from 21% to 28% pass-through companies such as limited liability companies or Partnerships Increase Income Tax Rate for Individuals With Income Greater Than US $ 400,000 Widening Estate Tax Scope Increased Capital Gains Tax Rate for Individuals With Annual Earnings Of US $ 1M or More. (Biden on the campaign suggested applying higher income tax rates) White House economist Heather Boushey stressed that Biden has no plans to increase taxes on those earning less than $ 400,000 a year. But for “people at the top who have benefited from this economy and have not been hit so hard, there is plenty of room to ponder what types of income we can generate,” she said in a Bloomberg television interview Monday. An independent analysis of the Biden campaign’s tax plan by the Tax Policy Center estimated it would raise $ 2.1 trillion over a decade, though the administration’s plan is likely to be smaller. Bianchi wrote earlier this month that Congress Democrats could approve $ 500 billion. The full program has yet to be presented, with analysts estimating $ 2 to 4 trillion. A date has not yet been set for an announcement, although the White House said the plan will follow after the Covid-19 relief bill is signed. An open question for Democrats is what parts of the package need to be funded while debating whether there is infrastructure in place and this ultimately pays off – especially given the ongoing low cost of borrowing that remains historically low. Efforts to make the expanded child tax credit in the Pandemic Aid bill permanent – something estimated to price more than $ 1 trillion over a decade – could be harder to sell if classified as fully debt-financed. What Bloomberg’s Economists Are Saying … “The next big legislative initiative, infrastructure investments, could bring lasting economic gains that not only support higher wages but also encourage the diffusion of those gains across demographics and political beliefs.” – Andrew Husby and Eliza Winger, US economists For the full report click here. Democrats need at least 10 Republicans to support the bill and move it under regular Senate rules. But GOP members are signaling they’re ready to fight: “We’re going to have a big, robust discussion on the appropriateness of a big tax hike,” Senate Minority Chairman Mitch McConnell said last month, predicting the Democrats Pursue a reconciliation bill that waives the GOP Kevin Brady, Republican chief on the House Ways & Means Committee, said, “There seems to be a real drive to tax investments in capital gains at marginal income rates.” and called it a “terrible economic mistake”. While about 18% of the George W. Bush administration’s tax cuts were allowed to expire in a 2013 agreement and other laws saw some tax hikes, 1993 marks the last major string of hikes, experts say. This bill was passed by two votes in the House of Representatives, calling on the Vice President to break a tie in the Senate. “I don’t think it’s an understatement to say that the current partisan environment is more severe than it was in 1993,” said Ken Kies, executive director of the Federal Policy Group, former chief of staff of the Joint Tax Committee of Congress. “So you can draw your own conclusions” about the prospect of a deal this year, he said. Still, there could be some tax initiatives Republicans could leave behind. One of them is the switch from a gasoline tax to a fee for kilometers driven to finance motorway projects. Read More: Steam Another Road Tax For Funding Infrastructure Gains Is More Money To Enforce The Internal Revenue Service – A Way To Grow Revenue Without Raising Interest Rates. It is estimated that the agency brings in an additional $ 3 to $ 5 for every additional $ 1 spent on IRS audits. Democrats are also trying to overhaul tax laws, which they believe are not doing enough to discourage US companies from moving jobs and profits offshore – another way to increase revenue, an aide said. Republicans could potentially support incentives, although it is unclear whether they would support penalties. White House officials, including National Economic Council Assistant Director David Kamin, who wrote a paper on “Taxing the Rich” in 2019, are in the process of drafting the Biden tax plans. If the date is passed, tax measures are likely to take effect in 2022 – although some lawmakers and Biden supporters outside the administration have advocated holding back while unemployment remains high due to the pandemic’s own ideas for tax reforms. Senate Finance Committee Chairman Ron Wyden wants to consolidate energy tax breaks and require investors to regularly pay taxes on their investments, including stocks and bonds that make unrealized gains. “A nurse pays taxes on every single paycheck. A billionaire in an affluent suburb, on the other hand, can postpone paying taxes month after month so that paying taxes is all but optional, ”Wyden told Bloomberg in an interview. “I don’t think that’s right.” Warren has levied a wealth tax while House Financial Services Committee chair Maxine Waters said she would like to consider a financial transactions tax. Democratic strategists see the next package as the last chance to reshape the US economy on a grand scale before lawmakers turn to the 2022 mid-term campaign: “Typically, the party in power gets a shot or two to pass major legislative packages,” said Chuck Marr, senior director for Federal Tax Policy at the Left Center for Budget and Policy Priorities. “This is the next shot.” (Updates with White House economists in the first paragraph after the bullet section.) For more articles like this, visit bloomberg.com. Sign up now to stay up to date with the most trusted business news source. © 2021 Bloomberg LP

International French-door-style Fridges Market Evaluation, Key Indicators, Worthwhile Revenues (2021-2026) | Haier, Whirlpool, Electrolux, Midea, Samsung – KSU

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Reporting metrics details
Base year taken into account 2020
Forecast period 2021-2026
Revenue in U.S$
By product type Under 15 cu.ft., 15-20 cu.ft., 20-25 cu.ft., over 25 cu.ft.
After application Online offline
Geographies covered North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa
Companies covered Haier, Whirlpool, Electrolux, Midea, Samsung, Bosch, LG, Meiling, Panasonic, Arcelik AS, Sharp

Important information in the report:
Drivers and restraints affecting market dynamics
– Comprehensive analysis of future market trends
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Adaptation of the report:
1) All segmentations indicated above in this report are represented at the country level.
2) All products covered in the market, product volume and average sales prices are listed as customizable options that may incur no or minimal additional costs (depending on the customization).

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