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Wall Street Weekahead: Fund managers look for value in high-priced consumer sector
Expectations that spending on items ranging from hotels to clothing will continue to rise have helped make consumer discretionary stocks the most expensive sector in the S&P 500.
Posted on : 2020-02-22 16:09:38
Samsung Electronics confirms coronavirus case at phone factory complex in S.Korea
Samsung Electronics said on Saturday that one coronavirus case had been confirmed at its mobile device factory complex in the southeastern city of Gumi, causing a shutdown of its entire facility there until Monday morning.
Posted on : 2020-02-22 15:13:25
Let's come together to tax tech giants, say G20 officials eying $100 billion boost
Leading world economies must show unity in dealing with aggressive "tax optimisation" by global digital giants like Google, Amazon and Facebook, G20 officials said on Saturday.
Posted on : 2020-02-22 15:05:06
China expects more companies to resume operations by late February, early March
More companies in China are expected to resume operations by late February or March, a transport official said on Saturday, as officials try to get the economy up and running again while containing a coronavirus outbreak that has created massive business disruptions.
Posted on : 2020-02-22 15:02:10
U.S. Treasury Secretary says 'safe harbor' proposal is not an optional tax
U.S. Treasury Secretary Steven Mnuchin said on Saturday his "safe harbor" proposal for U.S. companies was not an optional tax and he hopes the OECD will agree on a global tax reform this year.
Posted on : 2020-02-22 14:15:31
Boeing finds debris in fuel tanks of many undelivered 737 MAX jets
Boeing Co has found debris in the fuel tanks of dozens of undelivered 737 MAX jets amid ongoing inspections as the Chicago-based planemaker struggles to restore the trust of airlines and the wider public in the grounded fleet.
Posted on : 2020-02-22 14:14:21
U.S. Treasury's Mnuchin: Tax certainty needed on global basis
U.S. Treasury Secretary Steven Mnuchin said on Saturday it was very important to have tax certainty on a global basis and that the OECD was very close to consensus on a framework for minimum corporate tax.
Posted on : 2020-02-22 14:14:17
Germany's Scholz urges agreement on global minimum tax now
World financial leaders should agree on a global minimum tax for companies now and politicians should not postpone an agreement for electoral reasons, Germany's Finance Minister said on Saturday at an international tax conference in the Saudi capital.
Posted on : 2020-02-22 14:09:28
BOJ Kuroda blames yen's fall on strong dollar, upbeat on economy
Bank of Japan Governor Haruhiko Kuroda said on Saturday the yen's recent declines were largely driven by a strong dollar, shrugging off some market views that the widening coronavirus epidemic is triggering an outflow of funds from Asia.
Posted on : 2020-02-22 14:06:04
Saudi economy set to grow this year, driven by non-oil sector - central bank
Saudi Arabia's economy is expected to grow this year, supported by the non-oil sector, despite a challenging global economic backdrop, the Saudi central bank governor said on Saturday as the kingdom hosts the G20 meeting.
Posted on : 2020-02-22 13:46:15
Momentum exists for solution on global tax reforms in 2020 - French minister
There is momentum for finding a solution on international tax reforms by the end of 2020, French economy and finance minister Bruno Le Maire said in Riyadh on Saturday.
Posted on : 2020-02-22 13:43:47
Federal prosecutors probing if Boeing pilot knowingly lied to FAA - NYT
Federal prosecutors investigating Boeing Co are examining whether the U.S. planemaker knowingly misled the Federal Aviation Administration while it was seeking approval for its 737 MAX jet, the New York Times reported, citing two people familiar with the matter.
Posted on : 2020-02-22 12:50:22
OECD's Gurria says coordinated approach to tax reforms is only way forward
OECD Secretary-General Angel Gurria said on Saturday that there was a need for a coordinated approach to tax reforms and that it was the only the way to redefine international tax infrastructure.
Posted on : 2020-02-22 12:31:04
China's central bank vows to take more steps to support virus-hit economy
China's central bank will take further steps to support the virus-hit economy, including releasing more liquidity and lowering funding costs for companies, a vice governor of the bank told state media.
Posted on : 2020-02-22 11:18:06
MGM Resorts sued over data breach that possibly involved 10.6 million guests
U.S. casino operator MGM Resorts International has been sued over a data breach last year, which the company confirmed earlier this week and which reportedly involved details of over 10.6 million hotel guests.
Posted on : 2020-02-22 10:39:04
Wells Fargo to pay $3 billion to U.S., admits pressuring workers in fake-accounts scandal
Wells Fargo & Co has agreed to pay $3 billion (2.3 billion pounds) to resolve criminal and civil probes into fraudulent sales practices and has admitted to pressuring employees in a fake-accounts scandal, U.S. officials said on Friday, wrapping up one of the last major investigations looming over the bank.
Posted on : 2020-02-22 08:19:41
Factbox: Remaining hurdles for scandal-hit Wells Fargo
Wells Fargo & Co has racked up well over $7 billion in penalties since a sales practices scandal erupted in 2016, and continues to face headwinds.
Posted on : 2020-02-22 08:19:41
Morgan Stanley to get $375 million termination fee if E*Trade walks away from deal
Morgan Stanley will receive a $375 million (289 million pounds) breakup fee if E*Trade Financial Corp walks away from its $13 billion deal for the discount brokerage, the U.S. bank said on Friday.
Posted on : 2020-02-22 04:34:12
Federal prosecutors investigating whether Boeing pilot knowingly lied to FAA - NYT
Federal prosecutors investigating Boeing Co are examining whether the U.S. planemaker knowingly misled the Federal Aviation Administration while it was seeking approval for its 737 MAX jet, the New York Times reported https://www.nytimes.com/2020/02/21/business/boeing-737-max-investigation.html, citing two people familiar with the matter.
Posted on : 2020-02-22 03:18:58
Stocks slip as coronavirus fears spur safe-haven buying
Global equity markets slumped on Friday as the fast-spreading coronavirus drove investors into safe havens, with gold hitting a fresh seven-year high and the yield on the 30-year U.S. Treasury bond sliding to an all-time low.
Posted on : 2020-02-22 03:16:22
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