Huawei CEO Ren Zhengfei said in an interview with CNBC the company's business is still strong in China.Technologyread more
The Fed is not likely to make a move on interest rates when it meets this week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
U.S. President Donald Trump officially kicked off his reelection campaign Tuesday at a Florida rally where he exhorted thousands of rollicking supporters to keep advancing his...Politicsread more
Trump's remarks came a day before the Fed was set to announce its next decision on interest rates.Politicsread more
Sen. Josh Hawley, a well-known tech critic, introduced legislation on Wednesday that would remove the immunity big technology companies receive for user-posted content under...Technologyread more
Facebook's new cryptocurrency project, titled Libra and backed by the likes of Visa and Booking Holdings, is being widely embraced by market watchers.Trading Nationread more
Zuckerberg fell out of Glassdoor's top 20 CEO ranking for the first time, although his employee approval rate remains high.Technologyread more
The U.S. and China have imposed tariffs on billions of dollars' worth of one another's goods since the start of 2018.Traderead more
More and more American firms are calling for the Trump administration to resolve its conflict with China.World Economyread more
Adobe expects fiscal third-quarter earnings and revenue that are below what analysts were looking for.Technologyread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
Credit Suisse expects a higher tax rate for 2018 than previously forecast, saying on Wednesday it expects to be hit by U.S. tax provisions aimed at preventing companies from shifting profits abroad.
Switzerland's second biggest lender said it expects an effective tax rate of roughly 40 percent on 2018 results, up from the 36.8 percent rate for the first nine months and higher than its previous full-year guidance of 37 percent.
The bank said the estimate included an "adverse impact" of about 2 percent, based on its assessment of new U.S. regulations.
The Base Erosion Anti-Abuse Tax (BEAT), introduced by the U.S. Treasury Department in December, aims to prevent companies from reducing earnings of their U.S. operations by loading their businesses with costs and deductions, and then using intercompany transfers to shift profit to lower-tax locations abroad.
The rule applies to corporate taxpayers with gross receipts of more than $500 million that make deductible payments to foreign entities. While the BEAT rules are still subject to final clarification, Credit Suisse said "it is more likely than not that the group will be subject to this tax for 2018".
The bank also estimates the BEAT regulations would raise its tax burden by about 2 percent next year, to an estimated 30 percent. The Zurich-based lender, due to report full year figures on Feb. 14, said it still awaited final publication of the rules before it could say for certain if it was liable for the tax in 2018 and 2019, as well as the size of the liability.