The White House’s absurd claim of a Chinese transshipment “scam”

“Ill-timed circumstances can change our financial future in unexpected ways.”

Open this photo in gallery:A person pumps gas at a gas station in Ottawa in April. Keito Newman/The Globe and MailStatistics Canada is set to report inflation data for September today. A Reuters poll of economists expects inflation accelerated to 3.2 per cent last month, up from 3 per cent in August. Economists say persistently high energy prices are the main forces pushing inflation higher right now and they’ll be looking for evidence of cost pressures broadening beyond the gas pumps. The September inflation report will be the Bank of Canada’s last look at price data before its next interest rate decision on Oct. 28. The central bank has signalled it will look through the initial inflationary impacts from the ongoing war in the Middle East but is prepared to hike its policy rate if there are signs inflation is spreading. The Bank of Canada will also release its own quarterly surveys of consumers and businesses later this morning that will give a sense of whether firms are planning to pass higher supply chain costs on to their customers.

Bitcoin rose 0.8% to around $82,700 as China’s GDP beat estimates and Nasdaq futures rebounded, while the CoinDesk 80 gained 1.3% and DeFi led gains.

Since mid-summer portfolio managers have been emphasizing free cash flow, profitability, high margins, strong balance sheets and stable earnings when stockpicking.

French lawmakers narrowly approved a new crypto tax amendment on Friday that could make crypto-to-stablecoin swaps taxable events starting in 2027. France’s National Assembly adopted Amendment I-3898 on Friday, with 38 votes in favor, 37 against and 25 abstentions. The measure was initially introduced as committee amendment I-CF1826 by French MP Nicolas Sansu and adopted on Oct. 7. The Assembly is scheduled to vote on the first part of the 2027 Finance Bill on Tuesday, according to its official schedule. Other crypto-related proposals remain under consideration, although it is unclear whether each will be debated or voted on that day. If enacted, the stablecoin amendment would tax certain crypto-to-stablecoin swaps and change how the country calculates crypto capital gains tax. French National Assembly advances Amendment I-3898 on crypto-to-stablecoin tax swaps. Source: assemblee-nationale.frUnder the proposal, investors converting their Bitcoin (BTC) or other cryptocurrencies into stablecoins would trigger a tax on the gains, even without converting gains into fiat. The calculation would use the acquisition cost of the sold crypto asset and the weighted average purchasing price.