The Obama administration proposed a $300 million aid package to help Detroit demolish buildings, improvement transportation and bolster the police.» Read More
WASHINGTON, April 9- Sikorsky Aircraft said on Wednesday the U.S. Navy's plan to skip orders for 29 MH-60 helicopters in the final year of a five-year contract could undermine the industry's willingness to sign such cost-saving agreements in the future.
*Swiss structure not challenged by IRS- Caterpillar. WASHINGTON, April 1- Caterpillar Inc defended itself on Tuesday against accusations of offshore tax-dodging, telling a U.S. Senate panel that a low-tax unit the company set up years ago in Switzerland has not been challenged by U.S. tax authorities.
WASHINGTON, April 1- The broken U.S. tax code encourages companies to shift profits overseas, Republican senators said on Tuesday, seeking to deflect criticism from Caterpillar Inc at a hearing on how it allegedly avoided paying $2.4 billion in taxes.
WASHINGTON, April 1- Executives for Caterpillar Inc will defend the company's offshore tax strategies at a U.S. Senate hearing on Tuesday held by a panel known for shedding light on corporate tax avoidance.
WASHINGTON, March 28- Caterpillar Inc's offshore tax strategies will come under scrutiny on Tuesday at a U.S. Senate hearing expected to examine dealings by the world's largest mining and construction equipment maker in Switzerland, Bermuda and Luxembourg.
WASHINGTON, March 24- A U.S. Senate subcommittee known for investigating corporate tax avoidance said on Monday it will hold a hearing on April 1 to examine the offshore tax strategies of Caterpillar Inc, the world's largest mining and construction equipment maker.
Treasury debt, much of it offshore, earning them tax-free interest, the UK's Bureau of Investigative Journalism said on Thursday. The finding means Apple Inc, Microsoft Corp, Google Inc and Cisco Systems Inc hold a large proportion of the $254.9 billion held in their foreign subsidiaries in U.S.
Judge Harlin Hale in Dallas granted temporary bankruptcy protection to Mt. Gox, which had filed for bankruptcy protection in Japan in February. Gox said without bankruptcy protection the company would be irreparably harmed by a proposed class action in Chicago federal court and a breach of contract case in Seattle federal court.
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.
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.
During his testimony before the British Parliament ran attempt was made to hit Rupert Murdoch, with a pie. So, which other public figures have been hit by pies?
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.
Discussing the business impact from the slew of government probes into Goldman's trade activities, with David Trone, JMP Securities; Jeffery Harte, Sandler O'Neill; and CNBC's Kate Kelly
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.