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India and Russia sign energy, defense deals worth billions

October 15, 2016 by · Leave a Comment 

India and Russia signed billions of dollars of defense and energy deals on Saturday at a summit that sought to inject new life into a relationship that has been tested by shifting global alliances and conflict in the Middle East. Under the biggest agreement, a group led by Russian state oil major Rosneft said it would pay $12.9 billion for a controlling stake in both India's Essar Oil and port facilities that it owns. The countries, …

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India and Russia sign energy, defense deals worth billions

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U.S. fiscal year budget deficit widens to $587 billion

October 15, 2016 by · Leave a Comment 

The U.S. budget deficit widened to $587 billion for the fiscal year 2016 on slower-than-expected revenues and higher spending for programs including Social Security and Medicare, the Treasury Department said on Friday. It was the first time the deficit increased in relation to economic output since 2009, according to figures from the Congressional Budget Office. Last fiscal year's deficit was $439 billion

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U.S. fiscal year budget deficit widens to $587 billion

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U.S. targets corporate tax-reduction strategy with new regulation

October 14, 2016 by · Leave a Comment 

The Obama administration, in its latest bid to prevent American companies from minimizing U.S. taxes by rebasing abroad, issued final rules on Thursday to combat a key tax-reduction technique known as earnings stripping. Six months after proposing the regulations, the U.S. Treasury made good on its pledge to move swiftly against corporate tax inversions by rolling out the new final rule, despite opposition from business groups and…

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U.S. targets corporate tax-reduction strategy with new regulation

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United Airlines gate agents, baggage handlers approve new contract

April 17, 2016 by · Leave a Comment 

United Continental Holdings Inc and its union said Saturday that workers voted in favor of contracts hiking the pay of some 30,000 baggage handlers, gate agents and other groups, a dramatic reversal from a year ago when the No.3 U.S. airline mulled outsourcing some of these jobs. The news marks a vote of confidence by…

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United Airlines gate agents, baggage handlers approve new contract

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Volkswagen increases discounts after emissions scandal: report

April 17, 2016 by · Leave a Comment 

Volkswagen AG is offering bigger discounts in its home market to try to lure back customers after the automaker admitted using software to allow diesel vehicles to cheat emissions tests, a German trade magazine reported on Saturday. Germany's Automobilwoche said Volkswagen was trying to boost the used car trade by raising

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Volkswagen increases discounts after emissions scandal: report

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U.S. Treasury readies new tax rules as G20 vows to fight evasion

April 17, 2016 by · Leave a Comment 

By David Lawder WASHINGTON (Reuters) – The U.S. Treasury Department is finalizing new tax rules aimed at combating the use of shell companies to evade taxes, U.S. Treasury Secretary Jack Lew said on Saturday amid increased pledges by global finance leaders to cooperate on tax issues. In a statement to the International Monetary Fund's steering committee, Lew said the Treasury was finalizing a rule that would require banks to identify the beneficial owners of…

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U.S. Treasury readies new tax rules as G20 vows to fight evasion

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Ford plans to move Michigan offices into two new modern campuses

April 12, 2016 by · Leave a Comment 

By Joseph White DETROIT (Reuters) – Ford Motor Co said on Tuesday it will modernize and consolidate its sprawling Dearborn, Michigan, engineering and headquarters facilities over the next decade into two Silicon Valley-style campuses. The auto company plans to move about 30,000 employees now housed in 70 buildings, some of which were built in the 1950s. One location will be focused on engineering, research, technology and vehicle development and

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Ford plans to move Michigan offices into two new modern campuses

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Uber says gave U.S. agencies data on more than 12 million users

April 12, 2016 by · Leave a Comment 

Uber Technologies Inc [UBER.UL] on Tuesday released its first ever transparency report detailing the information requested by not only U.S. law enforcement agencies, but also by regulators. The ride-sharing company said that…

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Uber says gave U.S. agencies data on more than 12 million users

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IMF cuts global growth outlook again, warns of political risks

April 12, 2016 by · Leave a Comment 

By David Lawder WASHINGTON (Reuters) – The International Monetary Fund warned on Tuesday of the risk of political isolationism, notably Britain's possible exit from the European Union, and growing economic inequality as it cut its global growth forecast …

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IMF cuts global growth outlook again, warns of political risks

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Two Fed bank presidents backed rate hike ahead of last meeting

April 12, 2016 by · Leave a Comment 

The heads of two regional Federal Reserve banks supported a rate hike ahead of the Fed's March meeting as an improving economy added to sentiment to tighten monetary policy. The heads of the Richmond and Kansas City Fed branches supported a quarter point hike in the main lending rates for banks “in light of continued improvements in labor market conditions and expectations that inflation would rise,” according to …

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Two Fed bank presidents backed rate hike ahead of last meeting

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