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Obama Offers to Cut Corporate Tax Rate to 28%
Written on 22 Feb, 2012 at 8:48 in Finance, Latest | viewed times and users have made 0 comments so far
WASHINGTON — President Obama will ask Congress to scrub the corporate tax code of dozens of loopholes and subsidies to reduce the top rate to 28 percent, down from 35 percent, while giving preferences to manufacturers that would set their... (Continue reading)
Stocks, So Far Resilient, Face a Week of Challenges
Written on 21 Nov, 2011 at 7:27 in Finance | viewed times and users have made 0 comments so far
Despite one negative headline from Europe after another, the stock market in the United States has held up pretty well lately, rising 10 percent since the beginning of October. But that could change this week, amid mounting investor doubt about... (Continue reading)
Europe Fears a Credit Squeeze as Investors Sell Bond Holdings
Written on 19 Nov, 2011 at 6:09 in Finance | viewed times and users have made 0 comments so far
Nervous investors around the globe are accelerating their exit from the debt of European governments and banks, increasing the risk of a credit squeeze that could set off a downward spiral. Financial institutions are dumping their vast holdings of European... (Continue reading)
Banks Quietly Ramping Up Costs to Consumers
Written on 14 Nov, 2011 at 5:40 in Finance | viewed times and users have made 0 comments so far
Even as Bank of America and other major lenders back away from charging customers to use their debit cards, many banks have been quietly imposing other new fees. Need to replace a lost debit card? Bank of America now charges... (Continue reading)
Lloyds finance director resigns
Written on 19 Sep, 2011 at 7:38 in Finance | viewed times and users have made 0 comments so far
Tim Tookey, Lloyds’ finance director, has resigned from Britain’s biggest high-street lender to become chief financial officer at Friends Life, the UK life assurance company created by Clive Cowdery’s Resolution consolidation group. Mr Tookey, a pivotal figure in helping Lloyds... (Continue reading)
Financial Instability Won’t Derail British Bank Overhaul, Vince Cable Says
Written on 1 Sep, 2011 at 7:27 in Finance | viewed times and users have made 0 comments so far
Business Secretary Vince Cable said global financial instability underscored the need to “press ahead” rather than delay a regulatory overhaul of Britain’s banking industry. With the government-appointed Independent Commission on Banking due to report on Sept. 12, Cable questioned suggestions... (Continue reading)
Bernanke hints at more Fed support
Written on 26 Aug, 2011 at 20:21 in Finance | viewed times and users have made 0 comments so far
Ben Bernanke has hinted the US Federal Reserve is prepared to do more to support the stalling US economy , saying that the central bank “is prepared to employ its tools as appropriate to promote a stronger recovery”and will extend... (Continue reading)
Markets give eurozone plan cool reception
Written on 17 Aug, 2011 at 20:05 in Finance | viewed times and users have made 0 comments so far
Financial markets and fellow European leaders reacted coolly on Wednesday to proposals by the French and German leaders for more economic co-ordination between eurozone capitals, with several countries reiterating long-held reservations towards ceding control of tax and economic policies. Many... (Continue reading)
France and Germany plan joint taxation
Written on 16 Aug, 2011 at 18:45 in Finance | viewed times and users have made 0 comments so far
France and Germany are to adopt a common corporate tax system by 2013, in an effort to signal greater co-ordination of economic policy after confidence in the euro was buffeted by the sovereign debt crisis. Following a meeting in Paris... (Continue reading)
All UK banks told to draw up ‘living wills’
Written on 9 Aug, 2011 at 18:29 in Finance | viewed times and users have made 0 comments so far
All UK deposit-takers and large investment firms will have to draw up “living wills” by the end of next year that would allow them to be wound down over a weekend and quickly return assets to clients, Six big UK... (Continue reading)