Analysis: Scrap corporate tax and benefit long term, some conservatives say
LONDON (Reuters) – As western politicians consider moves to clamp down on corporate tax avoidance, some conservative economic thinkers say the damage done by avoidance is overstated and any remedies are more likely to do economic harm than good.
India’s Reliance says to invest $26 billion, tight-lipped on 4G plans
MUMBAI (Reuters) – Indian conglomerate Reliance Industries Ltd will spend more than $26 billion across its businesses over three years, it said on Thursday, giving few details of plans for its long-anticipated launch of 4G telecommunications services.
Exclusive: Tycoon Fredriksen sees tanker market weak for at least 2 years
OSLO (Reuters) – Shipping magnate John Fredriksen expects the tanker market to remain depressed for at least two more years, but is more optimistic about the outlook for other arms of his shipping empire, he told Reuters on Wednesday.
IKEA reshuffles the furniture with new generation
STOCKHOLM (Reuters) – Asked if he would ever quit IKEA, 87-year-old founder Ingvar Kamprad told an interviewer last year he “had no time to die”. But his latest step back from the world’s biggest furniture group has pushed a younger generation to the f…
Senators renew push against China currency ‘manipulation’ despite yuan’s rise
WASHINGTON (Reuters) – A bipartisan group of senators on Wednesday introduced legislation to give the United States new tools to fight currency manipulation, an effort aimed mainly at China, just days before President Barack Obama and Chinese President…
China has more cards to play in EU trade dispute: People’s Daily
BEIJING (Reuters) – China still has plenty more cards to play in an increasingly ugly trade dispute with the European Union, the official People’s Daily newspaper said on Thursday, accusing Europe of not realizing that its global power was waning.
Companies add more jobs but growth disappoints
NEW YORK (Reuters) – Hiring by U.S. firms was sluggish in May while a sharp rise in mortgage interest rates last week weighed on what has been a buoyant housing market, adding to signs the economy lost some momentum in the second quarter.
Wall Street drops as fears of less Fed stimulus mount
NEW YORK (Reuters) – Stocks dropped 1 percent on Wednesday, extending a recent selloff, as investors grappled with concerns that the Federal Reserve may begin to scale back its bond-buying stimulus while the economy is still sluggish.
Procter & Gamble reorganizes businesses under four units
(Reuters) – Procter & Gamble Co , the world’s largest household products maker, on Wednesday announced a reorganization amid speculation by analysts that the heads of its new units are in the running to replace CEO A.G. Lafley.
Bancorp sued over ‘Midwest Madoff’ brokerage accounts
NEW YORK/CHICAGO (Reuters) – U.S. regulators on Wednesday launched the first lawsuit against a bank tied to the blow-up of brokerage Peregrine Financial, alleging U.S. Bancorp knowingly let Russell Wasendorf Sr. use customer money held at the bank to f…
