Weekly News Round Up: Trump Win Boost Business Optimism; Bank Profits Jump; and Year-end Personal Finance Tips
December 12, 2016
Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase audit, tax, and consulting news to keep you informed about the current stories and events impacting the accounting and business landscape – and ultimately your financial obligations.
This week, we highlight how CFOs are feeling optimistic about the economy in the wake of the Trump electoral victory. In addition, consumer spending is up, and we offer 10 ways to end 2016 on a personal finance high note.
Trump Win Boosts U.S. Business Optimism
U.S. CFOs are much more optimistic about the U.S. economy following the election of Donald Trump, according to a new study.
Consumer Spending Starts Q4 With Solid Gain
U.S. consumer spending posted another solid gain in October and inflation continued to show signs of firming, buoying hopes of strong economic growth in the fourth quarter.
Bank Profits Jump 13 Percent to $45.6 Billion in Q3
U.S. banks posted a 13 percent jump in profit in the third quarter while the number of “problem banks” fell to the lowest level in eight years.
Obamacare Fuels Rapid Rise in Health Spending
The Affordable Care Act has triggered “dramatic changes” in healthcare, with health spending in 2015 growing at its fastest rate since 2007, according to a new government report.
House Blocks Conservative Move to Force IRS Impeachment Vote
The House blocked an effort by conservatives to force an impeachment vote against Internal Revenue Service commissioner John Koskinen.
FASB Continues Engagement with IASB on IFRS
Leaders of the Financial Accounting Standards Board and the International Accounting Standards Board pledged to continue their work together, even after completing their major convergence projects for harmonizing standards.
10 Ways to End 2016 on a Financial High Note
U.S. News & World Report is offering these year-end personal finance tips to help reduce your tax bill, fast-track your financial goals and boost your retirement savings.