Money & World

Money & World Money & World reports on tax, accounting, finance, economics, and the world events that move them. We say who broke the story, we link the document underneath, and we tell you what it changes. 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/ © 2026 Creative Corner Agency LLC A 10-year TIPS matured today after paying a 0.045% real yield 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/a-ten-year-tips-matured-today/ Money & World

Bought at auction in July 2016, it returned 3.381% a year in nominal terms. The nominal note sold beside it yielded 1.59%.

AICPA finalizes independence rules for tax services to audit clients 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/aicpa-finalizes-tax-services-independence-rules/ Money & World

PEEC approved revisions to the Tax Services interpretation of the ethics code, effective January 15, 2027.

Alabama's 2% state grocery tax came back on July 1 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/alabama-grocery-tax-returns/ Money & World

A two-month suspension under Act 2026-604 expired, and retailers resumed collecting the state rate on SNAP-eligible food.

EU General Court dismisses Apple's challenge to its DMA gatekeeper status 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/apple-dma-gatekeeper-challenge-dismissed/ Money & World

The App Store and iOS designation stands. The court ruled the iMessage complaints inadmissible.

ASML raised its 2026 sales guidance for the second time this year 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/asml-raised-2026-sales-guidance-second-time-this-year/ Money & World

Full-year sales are now guided to 43 to 45 billion euros, against 36 to 40 billion previously.

Mortgage lending rose about 30 percent at the three biggest US bank originators 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/bank-mortgage-originations/ Money & World

Chase originated $17.2bn, Wells Fargo $9bn and Bank of America $3.5bn in first mortgages in the second quarter.

Bank of America profit rose 27 percent to $9.1bn as trading revenue hit $7.1bn 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/bank-of-america-q2-profit/ Money & World

Revenue rose 15 percent to $31.6bn. Equities trading revenue rose 70 percent, to $3.6bn, a record.

Bank of Canada holds at 2.25% as gasoline lifts inflation to 3.2% 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/bank-of-canada-holds-at-2-25/ Money & World

The overnight rate stays at 2.25%. Consumer prices rose 3.2% in May, or 2.2% excluding gasoline.

BlackRock crossed $15tn in assets under management for the first time 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/blackrock-15-trillion/ Money & World

Assets reached $15.34tn on $192bn of net client inflows in the quarter, a record for the firm.

Bank of England says equity market leverage has risen significantly since December 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/boe-financial-stability-report/ Money & World

The FPC held the countercyclical capital buffer at 2 percent and flagged AI-linked credit demand and cyber risk.

Brent settles at $84.73 after US strikes on Iran and a renewed naval blockade 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/brent-settles-higher-after-us-strikes-on-iran/ Money & World

WTI settled at $79.34, up 1.5 percent. Trump dropped a proposed 20 percent fee on cargo crossing Hormuz.

IRS adds digital notices and EIN letters to Business Tax Account 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/business-tax-account-features/ Money & World

The summer 2026 update lets business users download CP575 EIN verification and pay toward an offer in compromise.

Audit partners rate client AI governance as early stage 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/caq-audit-partner-ai/ Money & World

Nearly 90 percent of surveyed audit partners called their largest client's AI governance developing or early stage.

China consumer prices rose 1% in June while producer prices rose 4.1% 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/china-consumer-prices-rose-1-percent-in-june/ Money & World

Consumer inflation slowed from 1.2% in May and missed forecasts. Producer prices grew at their fastest since 2022.

China's economy grew 4.3 percent in the second quarter, below Beijing's target 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/china-economy-grew-below-target-range/ Money & World

Growth slowed from 5 percent in the first quarter and missed the official 4.5 to 5 percent target range.

Citigroup shares fell 5 percent after executives signaled heavier spending ahead 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/citigroup-investment-spending/ Money & World

Citi posted net income of $5.8bn on revenue of $24.8bn, then told analysts investment spending could accelerate.

Commerce official says very few H200 chips have reached China so far 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/commerce-official-says-few-h200-chips-have-reached-china/ Money & World

Jeffrey Kessler told a House committee that shipments against H200 licences amount to a very small quantity.

IRS says a conditional deficit restoration promise buys a partner no basis 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/conditional-deficit-restoration-obligation/ Money & World

Chief Counsel Advice 202628009 holds that an obligation the general partner can choose not to call is not a payment obligation.

Consumer prices fell 0.4 percent in June as energy costs dropped 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/consumer-prices-fell-in-june-as-energy-dropped/ Money & World

Annual CPI inflation slowed to 3.5 percent, from 4.2 percent in May. Core CPI was flat on the month.

Container freight to North Europe is up about $3,000 a box in six weeks 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/container-freight-to-europe-climbs/ Money & World

Asia to North Europe is near $5,800 per forty-foot container. Drewry's index hit its highest since September 2024.

Treasury finalizes rules making some charitable trust deals listed transactions 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/crat-listed-transactions/ Money & World

Final regulations require participants and material advisers to disclose certain CRAT and annuity arrangements.

Tax Court denies above-the-line deduction for credit reporting legal fees 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/eiler-fcra-legal-fees/ Money & World

FCRA claims do not involve unlawful discrimination under section 62(a)(20), the Tax Court held in Eiler.

ERC refund suit survives without pleading the specific shutdown order 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/erc-refund-suit-pleading-standard/ Money & World

A Mississippi federal court let a $5.4m employee retention credit refund claim proceed but dismissed the declaratory judgment count.

EU top court upholds Google's €4.1bn Android fine, ending the appeal 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/eu-court-upholds-google-android-fine/ Money & World

The Court of Justice dismissed the appeal by Google and Alphabet on July 2. No further appeal is available.

EU preliminarily finds Instagram and Facebook design breaches the DSA 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/eu-preliminary-findings-meta-addictive-design/ Money & World

The Commission points to infinite scroll, autoplay and push notifications. No final decision has been made.

The EU side of the 15% tariff deal with Washington took effect on July 1 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/eu-side-of-tariff-deal-in-force/ Money & World

The EU dropped all duties on US industrial goods. The US rate on most EU goods is a 15% all-inclusive ceiling.

FASB proposes that funds discount shares they are contractually barred from selling 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/fasb-proposes-discount-for-restricted-shares/ Money & World

Comments close July 17. Investment companies would disclose the discount attributable to sale restrictions.

Marc Andreessen and Mervyn King will co-lead the Fed's five policy task forces 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/fed-policy-task-forces/ Money & World

The Fed named 15 outside co-leads across task forces on communications, the balance sheet, data, jobs and inflation.

The US is paying about $24bn a week in interest on the federal debt 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/federal-debt-interest-costs/ Money & World

Interest cost $857bn in the first nine months of fiscal 2026, up 13 percent, as the deficit neared $1.4tn.

Groups with local chapters must file a new IRS form each year, by fax 2026-07-14T20:00:00.000-04:00 https://moneyandworld.com/briefs/form-15644-group-exemption-filing/ Money & World

Form 15644 replaces the old supplemental group ruling submission. It is due 30 to 90 days before the year closes.