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In a breakup, who gets the Bitcoin?

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According to the decision, the father argued that his income over that period was inflated by non-recurring capital gains generated from trading Bitcoin and other cryptocurrencies, and that this shouldn’t be included in calculating his actual income for determining child support.

Instead, he argued that if the court requires increased child support (he was paying $2,500 per month, along with tuition and other expenses), it should be based on his estimated income for 2020 of $750,000 — which was largely generated by liquidating Bitcoin, as his business had been disrupted by Covid-19.

In its decision, the court rejected both positions, ruling instead that the father’s income for 2019 — rather than a five-year average or estimate for 2020 — be used to determine child support.

“I find that 2019 is the most current income information that is available,” the judge said in the reasons for decision.

Based on expert evidence from both sides, the court found that the father’s 2019 income was $1.225 million.

The court noted that it has discretion to use an average income over a three-year period, but this is triggered only if a “fair” determination of income can’t be made.

In this case, the court found that the 2019 income was fair to use for a temporary child support motion, and it ordered that monthly support payments be raised to just over $9,000.

“While not necessary to my decision, I add that the father’s characterization of the capital gains is an important issue,” the judge said. “It is best considered at trial in conjunction with the retroactive child support claim and the issue of the father’s income going forward.”

The court also ordered that a settlement conference be scheduled to take place by the end of March 2021, with a view to having the case heard at trial next year.

Source: – Investment Executive

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Brazil's Oil Giant Slashes Its Five-Year Investment Plan – OilPrice.com

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Brazil’s Oil Giant Slashes Its Five-Year Investment Plan | OilPrice.com

Charles Kennedy

Charles is a writer for Oilprice.com

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Brazil’s state energy giant Petrobras has cut its five-year investment plan by 27 percent to $55 billion, driven by the effects of the coronavirus pandemic. Reuters reported, citing a regulatory filing, that the company will focus its efforts on developing deepwater oilfields in the pre-salt zone that is estimated to contain billions of untapped barrels of oil. The pre-salt fields are Brazil’s main point of attraction for foreign energy firms, too.

Of the $55 billion Petrobras plans to spend over the next five years, most will go towards exploration and production. Still, at $46 billion, the sum to be allocated for exploration and production until 2025 is down from $64 billion planned a year ago.

The company also said it will only develop fields where it could break even at international oil prices of $35 per barrel.

As a result of the spending revision, Petrobras will produce less oil and gas next year, the company said, aiming for a daily average of 2.75 million barrels of oil equivalent. This is down from 2.84 million bpd this year. Related: EIA Sees WTI Crude Averaging $44 In 2021

However, going forward, production will increase, reaching 3.3 million barrels of oil equivalent in 2024. The boost will come from the pre-salt zone, which will also drive the company’s output this year. Petrobras said at the release of its third-quarter results in September that it had originally expected an output of 2.7 million bpd of oil equivalent for this year.

Crude oil production from the pre-salt fields marked a quarterly increase of 8.1 percent to 1.651 million bpd in the third quarter of this year, mainly due to higher operational efficiency of the platforms in the Búzios field and the ramp-up of production platforms in the Tupi and Atapu oilfields. Compared to the third quarter of 2019, Petrobras’ crude oil output in the pre-salt area jumped by 20.8 percent.

By Charles Kennedy for Oilprice.com

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Scammers fool Britons with investment firm clones, says trade body – TheChronicleHerald.ca

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LONDON (Reuters) – More than 200 British retail investors have lost nearly 10 million pounds ($13.4 million) in total to sophisticated investment scams since a government lockdown in March to fight the COVID-19 pandemic, a trade body said on Saturday.

Fraudsters cloned genuine investment management firms’ websites and documentation, and advertised fake products on sham price comparison websites and on social media, the Investment Association said.

Greater financial uncertainty and more time spent online have likely contributed to the increase in scams, industry sources say.

Losses amounted to 9.4 million pounds ($12.56 million) between March and mid-October, the IA said, based on information it got from member firms which had been cloned.

“In a year clouded in uncertainty, organised criminals have sought opportunity in misfortune by attempting to con investors out of their hard-earned savings,” Chris Cummings, chief executive of the Investment Association said.

The investment management industry was working closely with police and regulators to stop the scams, he added.

Britain’s Action Fraud warned earlier this month that total reported losses from all types of investment fraud came to 657 million pounds between September 2019 and September 2020, a rise of 28% from a year ago. Reports spiked between May and September, following Britain’s first national lockdown, the national fraud and cyber crime reporting centre added.

(Reporting by Carolyn Cohn; ediitng by Emelia Sithole-Matarise)

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Ontario Increasing Investment in Video Surveillance Systems – Government of Ontario News

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Ontario Newsroom | Salle de presse de l’Ontario

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