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 …
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 …
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, …
Bernanke offers no hint of pullback in Fed stimulusBy Pedro da Costa and Alister Bull WASHINGTON (Reuters) - The Federal Reserve's monetary stimulus is helping the U.S. economy recover but the central bank needs to see further signs of traction before … More »Bernanke offers no hint of pullback in Fed stimulus
By Pedro da Costa and Alister Bull WASHINGTON (Reuters) - The Federal Reserve's monetary stimulus is helping the U.S. 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 no sign that he is ready …
Existing home sales highest in almost three-and-a-half yearsBy Lucia Mutikani WASHINGTON (Reuters) - Home resales rose in April to the highest level in nearly 3-1/2 years, which should support the housing sector and the overall economic recovery. The National Association … More »Existing home sales highest in almost three-and-a-half years
By Lucia Mutikani WASHINGTON (Reuters) - Home resales rose in April to the highest level in nearly 3-1/2 years, which should support the housing sector and the overall economic recovery. The National Association of Realtors said on Wednesday existing home sales advanced 0.6 percent to an annual rate of 4.97 million units, …
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 stock at a 7 percent discount. … 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 stock at a 7 percent discount. Pfizer, the largest drugmaker, sold Zoetis shares in an initial public offering in February that raised $2.2 billion. …
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 20 North American factories this year to build an additional 40,000 vehicles and help sustain its gains in U.S. … 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 20 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 those factories will be idled for just one week this …
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 …
Ireland rejects blame for Apple's low tax rateBy Conor Humphries and Padraic Halpin CORK/DUBLIN (Reuters) - Ireland said on Tuesday it was not to blame for Apple Inc's low global tax payments and had no special rate deal with the company after the … More »Ireland rejects blame for Apple's low tax rate
By Conor Humphries and Padraic Halpin CORK/DUBLIN (Reuters) - Ireland said on Tuesday it was not to blame for Apple Inc's low global tax payments and had no special rate deal with the company after the U.S. Senate said it paid little or no tax on tens of billions of dollars in profits stashed in Irish subsidiaries. The …
EU leaders shine spotlight on Amazon, Google over tax policyBy Luke Baker BRUSSELS (Reuters) - European leaders will discuss how to combat aggressive tax avoidance by major companies such as Amazon, Google and Apple at a summit on Wednesday, and cut the estimated … More »EU leaders shine spotlight on Amazon, Google over tax policy
By Luke Baker BRUSSELS (Reuters) - European leaders will discuss how to combat aggressive tax avoidance by major companies such as Amazon, Google and Apple at a summit on Wednesday, and cut the estimated 1 trillion euros a year the EU loses to tax evasion or avoidance. The four-hour summit was originally called to discuss …
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 …
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 …
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 …
Wall Street rises as concern eases over Fed taperingBy Rodrigo Campos NEW YORK (Reuters) - Stocks rose on Wednesday, giving up some gains after an initial rally, after Federal Reserve Chairman Ben Bernanke said the central bank needed to see further signs … More »Wall Street rises as concern eases over Fed tapering
By Rodrigo Campos NEW YORK (Reuters) - Stocks rose on Wednesday, giving up some gains after an initial rally, after Federal Reserve Chairman Ben Bernanke said the central bank needed to see further signs of traction in the economy before it tapered its economic stimulus efforts. The S&P 500 hit yet another record high after …
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