A loophole in the new U.S. tax law could allow multinational corporations like Apple to avoid paying billions of dollars in taxes on profits stashed overseas, according to experts. Stemming from a Republican overhaul of international business taxes, the loophole involves the tax rates—15.5 percent or 8 percent—that companies must pay on $2.6 trillion in […]
Read moreU.S. retail sales increased in December as households bought a range of goods and figures for the prior month were revised higher, suggesting the economy exited 2017 with strong momentum. The Commerce Department said on Friday that retail sales rose 0.4 percent last month. Data for November was revised to show sales gaining 0.9 percent […]
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The euro is surging and experts believe it’s only going to stay that way
The single currency is expected to strengthen over the foreseeable future as the European Central Bank (ECB) slows down its monetary stimulus, analysts told CNBC. “We see more gains for the EUR ahead as the ECB paves the way for ending outright quantitative easing (QE) purchases later this year,” Stephen Gallo, head of forex strategy […]
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German coalition party leaders reportedly reach breakthrough in talks to form a government
Coalition party leaders in Germany have reached a breakthrough in talks to form a new government, according to Reuters who cited party sources. Germany’s Chancellor Angela Merkel entered into talks with a rival party earlier this week in a last-ditch effort to form a coalition government. This after months of political uncertainty and deadlock in […]
Read moreGucci-owner Kering plans to spin off German sports brand Puma to the French conglomerate’s shareholders to focus squarely on its luxury brands. Kering said on Thursday it planned to distribute 70 percent of Puma shares to its investors, leaving it with only a 16 percent stake, confirming an exclusive Reuters report. Puma shares were down […]
Read moreEuropean stocks are set to open higher Friday morning as investors watch out for new earnings and data. The FTSE 100 is seen up by 3 points at 7,764; the DAX is expected to start 52 points higher at 13,250 and the CAC 40 is set to open up by 17 points at 5,506, according […]
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Trump says his London trip is off because he doesn't like the embassy building
President Donald Trump canceled a trip to the new U.S. embassy in London, claiming that it was because he’s “not a fan” of the building. The move allows Trump to sidestep widespread protests that were planned for him. He disparaged the new U.S. embassy in Nine Elms in a Late Thursday Twitter post. “I’m not […]
Read moreGerman Chancellor Angela Merkel’s conservative party grouping and Social Democrats (SPD) toiled deep into the night on Thursday to overcome differences on tax cuts and other issues that threatened to block a new “grand coalition” government. Negotiators, who have vowed to reach a decision by Friday on whether to launch formal coalition talks, predicted many […]
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A LITTLE over a year ago, Gulliver gave a downbeat assessment of the prospects for Turkey’s aviation sector. Having enjoyed a decade of uninterrupted growth of more than 10% a year, Turkish Airlines, the country’s flag-carrier, was grounding aircraft and closing routes amid growing unrest at home and violence across its border with Syria. Concerns […]
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DESPITE her father’s pleas, Cherry Liu refused to work for the family business, a small electronic-components company founded in 1979 on the outskirts of Taipei. A 34-year-old diamond dealer based in Sydney, Ms Liu says she is simply not passionate about gadgets such as circuit-breakers. Nor are her siblings. Her 64-year-old father cannot find a […]
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