Gold draws 'hideout' demand as Deutsche Bank rattles markets anew – MarketWatch + MORE Sep 30th

Gold draws 'hideout' demand as Deutsche Bank rattles markets anewMarketWatchGold futures prices firmed Friday, aiming for back-to-back session gains and limiting losses for the week, as global market jitters sparked by German financial giant Deutsche Bank boosted the haven appeal of the precious metal. “Considering how much …and more »

Investment banks around the world have been grappling with a reduction in activity so far this year

PARIS – Renault has reached a deal with Iran’s government to open a plant making at least 150,000 vehicles a year, as European companies race for a share of Iran’s market now that international sanctions have been lifted.
The French carmaker announced the deal with the Industrial Development & Renovation Organization of Iran on Friday, during the Paris auto show.
The plant in a Tehran suburb will produce Duster and Symbol cars starting in 2018. Renault will be majority shareholder, and have its own distribution network in Iran for the first time, according to a company statement. Financial details were not released.
Renault-Nissan CEO Carlos Ghosn said Iran could have demand for 2 million cars in 2020, making it a market with “undeniable potential.”
“The Iranian government wants to attract foreign investment in the Iranian car industry to bring competitive new products benefiting Iranian customers with respect to standard, quality and safety,” Industry Minister Mohammad Reza Nematzadeh said in the statement…

 
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Q: We are planning to sell the cottage in the next year or so and I would like to know what kind of renovations/improvements qualify as capital costs? For instance, does the cost of changing a shingle roof to a metal roof qualify? And what about updating and replacing old windows? Or even replacing flooring? We’ve kept receipts and now we want to try and minimize the taxes we’ll end up paying when we sell.
— Cashing in, Bruce Peninsula, Ont. 

Ayana Forward is a certified financial planner in Ottawa:  
Only capital costs can be used to increase your adjusted cost base, thereby lowering your capital gain. As defined by Canada Revenue Agency: a capital expense “provides a lasting benefit and/or improves the property beyond its original condition.” There is also generally a significant cost associated with a capital expense.
Roof: Upgrading the roof from shingles to metal would qualify as a capital expense as it is considered to be an upgrade.
Flooring: Replacing carpet with carpet would be considered a current expense while replacing carpet with hardwood would be considered a capital expense as it is considered an upgrade…

BERLIN – Worries over the financial stability of Deutsche Bank returned to the fore Friday, sending shares in Germany’s biggest bank into a tailspin and to a record low.
Reports that hedge funds are moving their business out of the bank were the catalyst to the latest sell-off. At one moment in frenzied early trading, the bank’s stock fell another 8 per cent to below 10 euros a share for the first time, before recovering somewhat to trade 6 per cent lower at 10.20 euros.
Deutsche Bank has been a growing concern for investors in the past two weeks, since authorities in the United States said they are seeking $14 billion from the bank to settle legal claims over its sales of mortgage securities in the run-up to the global financial crisis in 2008.
With the German government giving no sign it would be prepared to offer a bailout, and the bank heavily exposed to risky investments, notably in the derivatives markets, investors have grown increasingly jittery. That worry was relieved only temporarily by Deutsche Bank’s move this week to sell an insurance subsidiary for just over 1 billion euros ($1…