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8/6/2020

Capital Square 1031 aims to raise equity totaling $27 million via CS1031 Residence at Riverwatch Apartments DST, a Delaware statutory trust offering involving a multifamily property in Augusta, Ga. The newly constructed property is a Class A apartment community with 260 units.

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The DI Wire
8/6/2020

There is a risk that the completion of a successful coronavirus vaccine will spur a sell-off in fixed-income markets and end the rally in major technology companies, Goldman Sachs strategists say. An approved vaccine might "challenge market assumptions both about cyclicality and about eternally negative real rates," the strategists wrote.

8/6/2020

Chapter 11 business bankruptcies surged 52% in July compared to the same month last year, while around 40,000 personal bankruptcies were filed in the month, up 11% from April's figure. Filings are expected to increase as government support programs come to an end.

8/6/2020

Lawmakers and Trump administration officials negotiating a new coronavirus aid bill say little progress has been made, with considerable differences still to be resolved. Republicans warn they may resort to executive orders from President Donald Trump if there is no breakthrough by the weekend.

8/6/2020

World Bank chief economist Carmen Reinhart and Mellon chief economist Vincent Reinhart describe the ways in which the economic fallout from the coronavirus crisis is unprecedented and uniquely challenging. They say no solution will apply globally. "Officials need to press on with fiscal and monetary stimulus. And above all, they must refrain from confusing a rebound for a recovery," they write.

8/6/2020

BlackRock has told its employees worldwide they can continue to work from home until the end of 2020, while also offering them the option to return to the office or combine the two locations. However, for tax and compliance reasons, workers must inform the company if they are not working from their filed home address.

8/6/2020

Companies hired 167,000 new workers in July, according to the ADP National Employment Report, short of the 1.5 million projected by economists. New coronavirus outbreaks appeared across the county and many employers exhausted funds borrowed to help cover payrolls during the month.

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Reuters
8/6/2020

New York has declared a state of emergency for numerous counties in the wake of Tropical Storm Isaias, while Connecticut made a declaration for the entire state. Each state also said it would investigate utility companies' response to the storm, with hundreds of thousands of homes still without power.

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National Public Radio
8/6/2020

The Financial Accounting Standards Board on Wednesday issued a new standard that is intended to simplify accounting for convertible instruments and contracts in an entity's own equity.

8/6/2020

The new audit evidence standard is here. It's principles-based, forward-looking, and it helps auditors work remotely. Before you dive into it, though, review this need-to-know info.

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AICPA Insights

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