Contestants who win big on a game show understandably look thrilled while onstage. Reality sets in when they are taken backstage. In many cases, depending on the state, winners must write a check to pay for taxes on prizes if they want to claim them.
Companies disclosed more information than required about auditors and audit committees during the 2013 proxy season compared with last year, according to an EY report. More companies disclosed when the selection of an auditor was in the best interest of the company and when an audit committee considered the impact of changing auditors, among other examples.
Low-risk bonds are feeling downward pressure as markets expect the Federal Reserve to taper bond buying. U.S., German and Canadian bonds have declined more than 2% this year on a total-return basis, according to a Citigroup index. "Basically, avoid fixed income as much as you can, allocate to equities, allocate to cash," said Christoph Kind, head of asset allocation at Frankfurt Trust.
Rising interest rates are forcing companies to recalibrate plans, including refinancing, pension contributions, and mergers and acquisitions. Borrowing is expected to become more problematic, with long-term rates at their highest in two years, but in some cases, pension contributions will decrease as rising rates close the funding gap.