RICHMOND, Va.— A former developer has been sentenced to 20 years in prison for fraudulently obtaining tax credits and then plotting to flee the country while he was supposed to be liquidating assets to raise money to repay his victims.» Read More
Art Cashin of UBS Financial Services says growth concerns and geopolitical tensions are dragging down global markets.
MINNEAPOLIS— Amazon.com Inc. will begin to collect sales taxes from Minnesota customers next week, indicating the online retailer is expanding in the state, according to experts. Amazon may be starting a local operation that requires it to do so in accordance with a state law passed in July 2013, the Star Tribune reported.
Here is the real problem with millennials — and why tattoos bring hope, says Jake Novak.
The pharmaceutical company AbbVie, based in Chicago, reached an agreement to buy Dublin- based Shire in July for $54 billion. AbbVie Inc. lost 2 percent in New York trading, while Shire sank 2 percent in London. said Jan Wald, an analyst at Benchmark Co., a financial advisory firm.
Rising competition from lenders and regulatory pressure is hurting small banks across the U.S., two Federal Reserve officials said on Tuesday.
The U.S. manufacturing sector expanded in September, while employment levels among goods producers rose to a two-and-a-half-year high.
Shares of several companies stumbled Tuesday before markets opened and a day after the Treasury Department announced new regulations that aim to make it tougher to pull off overseas mergers and acquisitions that trim U.S. corporate tax bills. The new regulations are broader than Citi analysts Liav Abraham and Matthew J. Dodds expected.
RICHMOND, Va.— A former developer was sentenced to 20 years in prison Tuesday for fraudulently obtaining tax credits and then plotting to flee the country while he was supposed to be liquidating assets to raise money to repay his victims.
NEW YORK— Grim economic news from Europe and airstrikes in Syria rattled global stocks Tuesday. Investors have been dealing with meager economic growth in Europe for months. "It has a very feeble recovery going on that is vulnerable to even the slightest external shock," said Jacob Kirkegaard, senior fellow at the Peterson Institute for International Economics.
Following through on a populist appeal from President Barack Obama for a new era of "corporate patriotism," the Treasury Department stepped in Monday with new regulations designed to limit the ability of U.S. firms to seek refuge in lower tax countries.
NEW YORK, Sept 23- Mohamed El-Erian, the chief economic adviser at Allianz SE, warned that global markets do not fully appreciate the risk posed by the Ukrainian crisis, a conflict which could push Europe into recession.
Joe Zidle, Portfolio Strategist at Richard Bernstein Advisors, outlines the factors inducing short-term volatility and downside risks on Wall Street.
HARRISBURG, Pa.— The state House of Representatives on Monday advanced a bill to provide crucial revenue for the cash-strapped Philadelphia School District. The bill has been stalled since June, even though both the House and Senate supported the tax authorization to provide $83 million a year to the state's largest school district.
WASHINGTON— Interest rates on short-term Treasury bills fell in Monday's auction, with rates on three-month bills dropping to their lowest point since late 2011.. The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.010 percent, down from 0.015 percent last week.
WASHINGTON— Figures on government spending and debt.
Administration officials who briefed reporters could not say how many pending inversions might be stopped by the new rules and specifically would not address whether the rules would block one of the most high-profile moves, an effort that Burger King announced in August to acquire Tim Hortons, a Canadian coffee and doughnut chain.
Art Cashin of UBS Financial Services says disappointing news from China, Japan and Europe is weighing on global markets.
NEW YORK, Sept 22- Concern about a potential economic slowdown in China pressured world stock indexes on Monday while Brent crude oil fell below $97 a barrel on sluggish demand and ample supplies. In remarks on Sunday, Finance Minister Lou Jiwei said China wouldn't dramatically alter its economic policy because of any one economic indicator.
Recent data in China has been disappointing, leading many analysts to lower their growth forecasts and hope for more aggressive accommodations from the government. In remarks on Sunday, Finance Minister Lou Jiwei said China wouldn't dramatically alter its economic policy because of any one economic indicator.
Economists say the greenback is gaining strength based on confidence in the U.S. economy, and potentially higher rates.
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