Apple CEO makes no apology for company's tax strategyBy Patrick Temple-West and Kevin Drawbaugh WASHINGTON (Reuters) - Apple Inc Chief Executive Tim Cook made no apology on Tuesday for the iPad maker saving billions of dollars in U.S. taxes through Irish … More »Apple CEO makes no apology for company's tax strategy
By Patrick Temple-West and Kevin Drawbaugh WASHINGTON (Reuters) - Apple Inc Chief Executive Tim Cook made no apology on Tuesday for the iPad maker saving billions of dollars in U.S. taxes through Irish subsidiaries and told lawmakers that his company backs corporate tax reform, even though it may end up paying more. The …
Disney-owned ESPN cutting hundreds of jobs: sourceBy Liana B. Baker (Reuters) - ESPN, the sports channel that is Walt Disney Co's most profitable unit, is cutting 300 to 400 jobs across the company and closing a small Denver office, a person with knowledge … More »Disney-owned ESPN cutting hundreds of jobs: source
By Liana B. Baker (Reuters) - ESPN, the sports channel that is Walt Disney Co's most profitable unit, is cutting 300 to 400 jobs across the company and closing a small Denver office, a person with knowledge of the cuts said. The job cuts, comprising 4 to 6 percent of ESPN's staff of 7,000, include open positions that will …
Bernanke suggests Fed not ready to pull back on stimulusBy Pedro da Costa and Alister Bull WASHINGTON (Reuters) - The Federal Reserve's monetary stimulus is helping the economy recover but the central bank needs to see further signs of traction before taking … More »Bernanke suggests Fed not ready to pull back on stimulus
By Pedro da Costa and Alister Bull WASHINGTON (Reuters) - The Federal Reserve's monetary stimulus is helping the economy recover but the central bank needs to see further signs of traction before taking its foot off the gas, Fed Chairman Ben Bernanke said on Wednesday. In testimony that offered little sign he is ready to …
The Irish loophole behind Apple's low tax billBy Tom Bergin LONDON (Reuters) - Apple's ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries … More »The Irish loophole behind Apple's low tax bill
By Tom Bergin LONDON (Reuters) - Apple's ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs. A U.S. Senate investigation revealed Tuesday that Apple, maker of iPhones, iPads and Mac …
Home sales close in on three-and-a-half year highBy Lucia Mutikani WASHINGTON (Reuters) - Home resales rose in April to the highest level in nearly 3-1/2 years and prices surged, offering the economy a buffer from the stiff headwinds posed by belt-tightening … More »Home sales close in on three-and-a-half year high
By Lucia Mutikani WASHINGTON (Reuters) - Home resales rose in April to the highest level in nearly 3-1/2 years and prices surged, offering the economy a buffer from the stiff headwinds posed by belt-tightening by Washington. The National Association of Realtors said on Wednesday existing home sales advanced 0.6 percent …
Lowe's results miss estimates, underperforming Home DepotBy Dhanya Skariachan (Reuters) - Lowe's Cos Inc reported a weaker-than-expected quarterly profit on Wednesday, hurt by colder-than-usual weather at the start of the spring selling season and strong competition … More »Lowe's results miss estimates, underperforming Home Depot
By Dhanya Skariachan (Reuters) - Lowe's Cos Inc reported a weaker-than-expected quarterly profit on Wednesday, hurt by colder-than-usual weather at the start of the spring selling season and strong competition from larger rival Home Depot Inc . The results contrasted sharply with those of Home Depot and signaled that Lowe's, …
Europe targets Switzerland in fight against bank secrecyBy John O'Donnell and Martin Santa BRUSSELS (Reuters) - Europe edged closer to lifting banking secrecy on Wednesday after Austria said it was ready to share data on foreign depositors but Vienna's support … More »Europe targets Switzerland in fight against bank secrecy
By John O'Donnell and Martin Santa BRUSSELS (Reuters) - Europe edged closer to lifting banking secrecy on Wednesday after Austria said it was ready to share data on foreign depositors but Vienna's support could fade should efforts to strike a similar deal with Switzerland fail. Austria's dropping of objections allowed EU …
Pfizer to spin off Zoetis stake to shareholders(Reuters) - Pfizer Inc said on Wednesday it will spin off its majority stake in animal health business Zoetis Inc to shareholders by allowing them to swap Pfizer stock for Zoetis shares at a 7 percent … More »Pfizer to spin off Zoetis stake to shareholders
(Reuters) - Pfizer Inc said on Wednesday it will spin off its majority stake in animal health business Zoetis Inc to shareholders by allowing them to swap Pfizer stock for Zoetis shares at a 7 percent discount. Pfizer, the largest U.S. drugmaker, sold Zoetis shares in an initial public offering in February that raised $2.2 …
Ford adds production in North America to meet new car demandBy Deepa Seetharaman DETROIT (Reuters) - Ford Motor Co is adding a week of production at most of its North American factories this year to build an additional 40,000 vehicles and help sustain its gains … More »Ford adds production in North America to meet new car demand
By Deepa Seetharaman DETROIT (Reuters) - Ford Motor Co is adding a week of production at most of its North American factories this year to build an additional 40,000 vehicles and help sustain its gains in U.S. market share. The second-largest U.S. automaker said on Wednesday that 20 assembly, engine and other plants will …
Wall Street declines as FOMC minutes raise concern over Fed taperingBy Angela Moon NEW YORK (Reuters) - Stocks fell on Wednesday with a selloff accelerating in late afternoon trade, after minutes from the latest U.S. Federal Reserve meeting showed some officials were open … More »Wall Street declines as FOMC minutes raise concern over Fed tapering
By Angela Moon NEW YORK (Reuters) - Stocks fell on Wednesday with a selloff accelerating in late afternoon trade, after minutes from the latest U.S. Federal Reserve meeting showed some officials were open to tapering large-scale asset purchases as early as at the June meeting. The minutes followed comments from Chairman …
Intel CEO shakes up units, creates 'new devices' groupBy Noel Randewich SAN FRANCISCO (Reuters) - Intel Corp's new chief executive, Brian Krzanich, has launched a sweeping company reorganization and created a unit aimed at growing its market share in mobile … More »Intel CEO shakes up units, creates 'new devices' group
By Noel Randewich SAN FRANCISCO (Reuters) - Intel Corp's new chief executive, Brian Krzanich, has launched a sweeping company reorganization and created a unit aimed at growing its market share in mobile technology. The shakeup, announced internally just days after the 30-year veteran took the helm, places most of the main …
Dimon keeps JPMorgan chairman title after bruising battleBy David Henry TAMPA, Florida (Reuters) - Jamie Dimon, JPMorgan Chase & Co's outspoken chairman and chief executive, won a vote of confidence on Tuesday as shareholders recommended that he keep his chairman … More »Dimon keeps JPMorgan chairman title after bruising battle
By David Henry TAMPA, Florida (Reuters) - Jamie Dimon, JPMorgan Chase & Co's outspoken chairman and chief executive, won a vote of confidence on Tuesday as shareholders recommended that he keep his chairman title, giving him a greater margin of approval than last year. Investors who had pressed for Dimon to be stripped …
EU leaders talk tough on tackling Amazon, Google over taxesBy Luke Baker BRUSSELS (Reuters) - Britain, France and Germany called for stricter rules to stop companies such as Google, Apple and Amazon aggressively avoiding taxes in austerity bitten Europe, while … More »EU leaders talk tough on tackling Amazon, Google over taxes
By Luke Baker BRUSSELS (Reuters) - Britain, France and Germany called for stricter rules to stop companies such as Google, Apple and Amazon aggressively avoiding taxes in austerity bitten Europe, while acknowledging they had done nothing unlawful. At a summit to discuss energy and tax policy, the leaders of the three largest …
Dow, S&P end at records on Fed officials' reassuranceBy Angela Moon NEW YORK (Reuters) - Stocks rose on Tuesday, with the Dow and the S&P 500 closing at new all-time highs as Federal Reserve officials' comments eased some concerns that the central bank could … More »Dow, S&P end at records on Fed officials' reassurance
By Angela Moon NEW YORK (Reuters) - Stocks rose on Tuesday, with the Dow and the S&P 500 closing at new all-time highs as Federal Reserve officials' comments eased some concerns that the central bank could start reducing its stimulus program. Dow component Home Depot gave the market a lift after the world's largest home …
Mercedes dealer review opens home front in luxury warBy Christiaan Hetzner FRANKFURT (Reuters) - How many Mercedes staff does it take to sell a car? The answer, in the luxury carmaker's German showrooms, is more than it takes to shift an Audi - just part … More »Mercedes dealer review opens home front in luxury war
By Christiaan Hetzner FRANKFURT (Reuters) - How many Mercedes staff does it take to sell a car? The answer, in the luxury carmaker's German showrooms, is more than it takes to shift an Audi - just part of the cost gap Daimler wants to close with its premium rivals. Among the top three, Mercedes depends on its unprofitable …
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