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Tax news — August 1, 2026

Publications tagged with Tax published on August 1, 2026 (UTC). This is a fixed calendar-day archive.

46 publications

  2. U.S.Tax

    US Bond Market Turmoil: 30Y Yield Hits 19-Year High

    The US bond market is experiencing significant turmoil, with the 30-year yield reaching its highest level since June 2007 at 5.27%. This marks a +450 basis point rally since the 2020 low and puts US 30Y mortgage rates on track to exceed 7.50% by year-end. Market participants are concerned about unbridled spending, inflation, currency devaluation, and collapsing fiscal credibility, leading to a re-pricing of federal debt as a risk-free asset. The market's independence, as advocated by Fed Chair Warsh, is contributing to the rate hikes despite no intervention from the Fed.
    8 sourcesSee all sources
  4. BusinessNorth AmericaTaxTrade

    U.S. Treasury Secretary's Notepad Reveals Plan to Buy $5-10B in Japanese Yen

    A photograph taken during a U.S. cabinet meeting at Camp David revealed a note on Treasury Secretary Scott Bessent's notepad, stating 'To Do: Buy Japanese Yen (JPY) $5–10 bil.' This comes after Reuters reported that the Treasury had put banks on alert for a possible U.S. intervention in the market for Japan's currency. The yen strengthened following these reports.
    35 sourcesSee all sources
  6. BusinessTaxTradeLogistics

    Centre Releases Rs 1.09 Lakh Crore in Advance Tax Devolution to States

    The Union government released ₹1,09,019 crore to state governments as an additional instalment of tax devolution, over and above the regular monthly transfer scheduled for August 10. The advance transfer gives states additional fiscal resources ahead of the scheduled monthly devolution to support spending and development programmes, particularly capital and development spending.
    8 sourcesSee all sources
  7. BusinessBudgetTaxTrade

    Russian Officials Consider Seizing Deposits Amid Budget Crisis

    Russian officials are reportedly discussing a plan to convert large deposits into long-term bonds to address the country's soaring budget deficit. Sources close to regional governments told 'Layout' that deposits above a certain amount could be affected. A State Duma deputy suggested that the government may have no other choice but to seize deposits. However, the Russian Central Bank has repeatedly denied these rumors, stating that such a move would be 'absurd' and 'impossible'.
    2 sourcesSee all sources
  8. U.S.TaxEquitiesM&A

    Texas Stock Exchange Launches, Challenging Wall Street

    The Texas Stock Exchange (TXSE), dubbed the 'Tex-ee', officially launched on Friday, marking the first new major stock exchange in the U.S. in decades. Based in Dallas, TXSE aims to compete with Wall Street by tapping into the economic rise of Texas and the broader 'Boom Belt' region. Backed by prominent financial institutions like BlackRock and Goldman Sachs, TXSE plans to begin corporate listings later this year and facilitate initial public offerings starting in 2027. The exchange's launch is part of a broader trend of businesses relocating from high-tax, regulation-heavy states to more business-friendly environments like Texas.
    2 sourcesSee all sources
  12. BusinessTax

    ITC's Profit Plunges Due to Cigarette Tax Hike

    ITC, a major consumer goods company in India, reported a significant drop in its first quarter profit due to a steep tax hike on its cigarette business. The company's net profit fell by 27% year-on-year to ₹3,579 crore ($375.24 million) in the quarter ended June 30, compared to ₹4,911 crore in the same period last year. The increase in cigarette taxes significantly impacted the company's core business operations. However, the FMCG segment showed resilience with revenue and profit growth.
    5 sourcesSee all sources
  17. U.S.TaxTradeLogistics

    U.S. Stock Market Weekly Performance & Key Earnings

    The U.S. stock market saw a mixed performance during the week ending July 31, 2026. The S&P 500 and Dow Jones Industrial Average both gained +1.0%, with the S&P 500 snapping a two-week losing streak and the Dow logging its fourth consecutive weekly gain. The Nasdaq Composite outperformed, gaining +1.6% on robust tech earnings. Amazon surged +15.3% following strong Q2 earnings, while Apple fell -7.4% due to supply constraints. The Federal Reserve held interest rates steady, acknowledging slowing GDP growth and cooling inflation.
    7 sourcesSee all sources
  20. BusinessTaxStock MarketM&A

    Nuggets' Peyton Watson Weighs Bold Move After 4-Year Offer Revealed

    Denver Nuggets' restricted free agent Peyton Watson is considering accepting his $6.5 million qualifying offer to become an unrestricted free agent next summer, rather than signing a four-year, $70 million extension offered by the Nuggets. This move could significantly increase the Nuggets' luxury tax penalty, adding complexity to their financial situation as they look to build around three-time MVP Nikola Jokić.
    32 sourcesSee all sources
  22. BusinessTaxStock MarketManufacturing

    Ohio State's Jersey Patch Deal with JPMorgan Chase Not Public

    Ohio State's reported $17M annual jersey patch deal with JPMorgan Chase was announced this week, but the full terms remain undisclosed. The university denied a public records request, citing Learfield's private status which handles the sponsorship. Ohio State's athletic department reported $42.8M in revenue from similar sources in 2025. Jersey patch sponsorships are becoming popular among athletic departments due to rising athlete compensation expenses.
    2 sourcesSee all sources
  23. BusinessTaxCommoditiesEquities

    ExxonMobil, Chevron Post Record Profits Amid Middle East Conflict

    ExxonMobil and Chevron reported record-breaking quarterly profits, driven by soaring oil prices and refining margins due to the ongoing U.S.-Iran conflict. Exxon's profit hit $14.7 billion, while Chevron's reached $12 billion, both companies' highest since 2022. Despite missing analyst estimates, Exxon's earnings were still up significantly from last year. Chevron beat expectations and posted its largest quarterly profit in six years.
    28 sourcesSee all sources