Health law subsidies at risk next year for 1.8M households; fed government launches outreach + MORE Aug 4th

Two years ago, Shauna Ray loaded up her Jeep Escalade and drove away from 16 years of marriage to her husband Dan. It had been a long time coming. “During our time together Dan only ever cared about one thing—his career,” says Shauna, 42, who lives in Calgary. “He literally worked from sun up to sun down, which is saying something in Alberta. The split was inevitable.”
But Shauna’s now realizing how important Dan’s $120,000 salesman salary was to her lifestyle. (We’ve changed names to protect privacy.) Last month she did up a budget and found out she’s overspending by more than $2,200 annually on her $60,000 income. “Newly divorced, I’m feeling very unsure of how to plan for my future,” she admits. “Dan did all the heavy lifting in the financial planning department, so I know little about saving and investing.”
But it turns out Dan didn’t, either. He squandered a lot of their income investing in penny stocks, Shauna says. “He would always be disappointed we didn’t have large amounts of money socked away in RRSPs at year end…

Greece’s banking stocks plunged for the second day in a row on Tuesday, dragging the main Athens index down and reflecting the country’s continuing financial and economic woes.

NEW YORK, N.Y. – Shares of Israeli drug developer Intec Pharma Ltd. fell in their stock market debut Tuesday.
Intec raised more than $30 million in its initial public offering, selling 5 million shares at $6 per share. It plans to use the money raised to fund a clinical drug trial for its Parkinson’s disease treatment that it is developing.
The company’s shares are trading on the Nasdaq stock market under the ticker symbol “NTEC.”
They fell 5 cents to $5.95 in afternoon trading Tuesday.
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WASHINGTON – About 1.8 million households that got financial help for health insurance under President Barack Obama’s law now have issues with their tax returns that could jeopardize their subsidies next year. Administration officials say those taxpayers will have to act quickly.
“There’s still time, but people need to take action soon,” said Lori Lodes, communications director for the Centers for Medicare and Medicaid Services, which runs HealthCare.gov.
The health care law provides tax credits to help people afford private insurance. Nationally, that aid averages $272 a month, covering roughly three-fourths of the premium. By funneling the aid through the income tax system, Democrats were able to call the overhaul the largest middle-class tax cut for health care in history. But they also spliced together two really complicated areas for consumers: health insurance and taxes. Confusion has been the result for many.
Consumers who got health care tax credits are required to file tax returns that properly account for them, even if they are unaccustomed to filing because their incomes are low…

Toyota first-quarter profit rose 10 per cent to a new record as a cheaper yen helped boost its earnings.