*Senator who chaired hearings blames IRS, says EU' fills vacuum'. BRUSSELS, Aug 30- The United States is furious at the European Union for handing Apple Inc a $14.5 billion tax demand on Tuesday but EU officials say it was Washington which put them on to the scheme in the first place. "The IRS has failed to stake a claim for U.S. taxes on those revenues," he said in a statement,...
WASHINGTON, Aug 30- A European Commission order requiring Apple Inc to pay Ireland $13 billion euros in unpaid taxes on Tuesday drew swift rebukes from the Obama administration and lawmakers in Congress, while reigniting calls for U.S. tax reform. The White House and the Treasury Department, which enforces federal tax policy, warned that U.S.-EU economic...
Then along came Jeffrey Bullock, the newly appointed secretary of state for Delaware. Delaware's second-biggest biggest source of revenue was fees from few-questions-asked company registrations and other corporate services. The global pushback against shell companies was threatening to dim Delaware's longstanding appeal as a secretive corporate...
LONDON, Aug 4- There will be few tears shed for Metro International Trade Services. The warehousing company has just been hit with a $10 million fine by the London Metal Exchange for its role in abetting the original load-out queue for aluminum in Detroit. So what exactly did Metro do to incur a $10 million public punishment?
NEW YORK, July 21- An Arab-American family whose business and personal bank accounts were closed in 2014 without explanation can sue JPMorgan Chase for racial discrimination, a federal judge in Detroit has ruled. Filed in February, the lawsuit by Najah Manni, his wife Kathy and their two children says the largest U.S. bank further discriminated against them by...
Carolyn Maloney, a New York Democrat, made the request in a letter dated April 20 to House Financial Services Committee Chairman Jeb Hensarling, a Republican from Texas. The letter, seen by Reuters, came weeks after the International Consortium of Investigative Journalists worked with media outlets including The Guardian and BBC to report on 11.5 million...
Goldman Sachs is in talks with a Russian buyer, among others, about selling its embattled metal warehousing business.
Public pension funds have major stakes in American firms moving overseas to cut their tax bills. But they are saying little about the strategy.
The Obama administration proposed a $300 million aid package to help Detroit demolish buildings, improvement transportation and bolster the police.
Authorities declined to comment on a suspect or any other aspect of the investigation, but a senator says the person under suspicion writes a lot of letters to Senate members.
There is a new twist in the London Whale trading scandal that cost JPMorgan Chase $6.2 billion in trading losses last year. Some of the firm's own traders bet against the very derivatives positions placed by its chief investment office, said three people familiar with the matter.
The Senate's senior Democrat and Republican reached a tentative agreement to impose modest limits on the filibuster, the delaying tactic that minority parties have long used to kill legislation and was immortalized in the film "Mr. Smith Goes to Washington."
WASHINGTON, Oct 25- Two influential U.S. senators on Thursday urged regulators to resolve any differences and finish writing a controversial ban on proprietary trading known as the Volcker rule.
The FMHR traders discuss Senator Carl Levin's remarks on JPMorgan's losses and whether investors should buy Las Vegas Sands on its dip. Michael Binetti, UBS analyst, also weighs in on which retail stocks are a 'buy' or a 'sell.'
Senator Carl Levin, (D-MI), a co-author of the Volcker Rule, discusses his understanding of JPMorgan's $2 billion trading loss, with CNBC's John Harwood.
Should the U.S. be doing business with countries that are rich in resources — and friendly —but accused of corruption and human rights violations?
Shielding assets from the tax man or from overly inquisitive regulators is a time-honored strategy for the wealthy. Some turn to secretive financial havens like Switzerland or the Cayman Islands. Or there’s always Fernley, Nevada.
A gallery of protesters and pie-throwers and the public figures they have tormented.
Are hedge funds paying their fair share of taxes? One powerful senator doesn't believe they are giving Uncle Sam his fair share. John Carney, CNBC.com frames the debate.
Carl Levin, chairman of the Senate investigative subcommittee, said there was “real hope” law enforcement authorities would act on his panel’s report accusing Goldman Sachs of misleading investors and Congress, the FT reports.