The current U.S. corporate tax rate of 35 percent is one of the highest in the world, but the abundance of loopholes and deductions enable many businesses to pay far less than that — or nothing at all. Companies in the United States pay almost half the taxes that companies in other rich countries pay, [...]
READ MORE »Posts in category Business
Obama: Slash corporate tax breaks – CNNMoney
Geithner unveils Obama plan to reduce top rate to 28%; Treasury Secretary says code ‘needs to be reformed and modernized.’ NEW YORK (CNNMoney) — After more than a year in the making, the Obama administration on Wednesday released its plan to overhaul the corporate tax code. The main proposal would slash the corporate tax rate [...]
READ MORE »Home prices at lowest point in more than 10 years – CNN
NEW YORK (CNNMoney) — Home prices fell to their lowest point in more than a decade in January, but that helped to lift the pace of home sales, according to a report from an industry trade group. The National Association of Realtors reported that the median home price in January fell 2% from December to [...]
READ MORE »Obama to Ask Congress to Lower Corporate Tax Rate to 28%, Remove Loopholes – Bloomberg
Enlarge image Barack Obama Jim Bryant/UPI/LANDOV President Barack Obama passes a 787 Dreamliner at the Boeing assembly facility in Everett, Washington on Feb. 17, 2012. President Barack Obama passes a 787 Dreamliner at the Boeing assembly facility in Everett, Washington on Feb. 17, 2012. Photographer: Jim Bryant/UPI/LANDOV Enlarge image Barack Obama Scott Olson/Getty Images President [...]
READ MORE »US Stock Futures Drop on Europe, China – Bloomberg
U.S. stock futures declined, a day after the Standard & Poor’s 500 Index failed to hold at an almost four-year high, as Dell (DELL) Inc. tumbled and reports from Europe and China fueled concern about the global economy. Dell, the third-largest maker of personal computers, sank 6.6 percent after its sales forecast missed analysts’ estimates. [...]
READ MORE »European shares fall for 2nd day; PSA Peugeot surges – Reuters
By Blaise Robinson PARIS | Wed Feb 22, 2012 7:59am EST PARIS (Reuters) – European stocks fell on Wednesday as weaker than expected economic data prompted investors to cash in recent profits, although the rising trendlines of benchmark indexes remained intact. French carmaker PSA Peugeot Citroen (PEUP.PA) leapt 16 percent in huge volumes after the [...]
READ MORE »Greek Bailout Wins Two Cheers From Wary Investors – Bloomberg
Enlarge image Greek Bailout Wins Two Cheers From Wary Investors Kostas Tsironis/Bloomberg Evangelos Venizelos, Greece’s finance minister, center, speaks while George Zanias, chairman of Greece’s council of economic advisors, left, and Pantelis Economou, Greece’s deputy finance minister, during a news conference in Athens, on Feb. 21, 2012. Evangelos Venizelos, Greece’s finance minister, center, speaks while [...]
READ MORE »Euro, shares edge higher on Europe recovery hopes – Reuters
By Richard Hubbard LONDON | Wed Feb 22, 2012 4:59am EST LONDON (Reuters) – The euro and European shares edged lower on Wednesday after economic data suggested the euro zone may slide back into recession, hurting the global economic outlook, while concerns about the sustainability of the latest Greek bailout deal also weighed. The euro [...]
READ MORE »Dow: The March to 13000? – DailyFinance
It was a week of notable heights for the stock’s three major indices. The Dow Jones Industrial Average (INDEX: ^DJI) ended the week up 1.2%, closing at 12,950.10 — the highest close since May 2008. The broader S&P 500 (INDEX: ^GSPC) was up 1.4% to 1,361.23 — the highest close since May 2011. The more [...]
READ MORE »$170 Billion Bailout Deal for Greece Expected Next Week – Voice of America
After months of negotiations, European leaders are voicing new optimism that a $170-billion bailout for Greece will be approved Monday. German Chancellor Angela Merkel and Italian Prime Minister Mario Monti – after conferring Friday with Greek Prime Minister Lucas Papademos on a conference call – said they are confident that a Greek rescue deal can [...]
READ MORE »