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U.S. top court rejects challenge to IRS denying foreign tax credits

The U.S. Supreme Court on Monday rejected bids by three companies to recoup hundreds of millions of dollars in foreign tax credits denied by the Internal Revenue Service as the tax agency tries to curb corporate abuse of such credits. The high court left in place lower court rulings in favor of the U.S. government in cases involving American International Group Inc,

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U.S. top court rejects challenge to IRS denying foreign tax credits

Supreme Court rejects Apple e-books price-fixing appeal

By Lawrence Hurley WASHINGTON (Reuters) – The U.S. Supreme Court on Monday declined to hear Apple Inc's challenge to an appellate court decision that it conspired with five publishers to increase e-book prices, meaning it will have to pay $450 million as …

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Supreme Court rejects Apple e-books price-fixing appeal

Oil hits 2016 high above $40; glut warnings resurface

Brent crude rose on Monday, hitting a 2016 peak above $40 a barrel as producers sought a new anchor price for oil after a selloff that has lasted nearly two years, although some analysts warned the global glut is still big. Global crude prices have risen more than 40 percent since two months ago when…

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Oil hits 2016 high above $40; glut warnings resurface

China lays out its vision to become a tech power

China aims to become a world leader in advanced industries such as semiconductors and in the next generation of chip materials, robotics, aviation equipment and satellites, the government said in its blueprint for development between 2016 and 2020. In its new draft five-year development plan unveiled on Saturday, Beijing also said it aims to use the internet to bolster a slowing economy and make the country a cyber power. China aims to boost its R&D spending to 2.5 percent of gross domestic product for the five-year period, compared with 2.1 percent…

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China lays out its vision to become a tech power

U.S. Commerce Department to place restrictions on China’s ZTE

The U.S. Commerce Department is set to place export restrictions on Chinese telecoms equipment maker ZTE Corp for allegedly violating U.S. export controls on Iran, according to documents seen by Reuters. The restrictions will make it difficult for the company to acquire U.S. products by requiring ZTE's suppliers to apply …

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U.S. Commerce Department to place restrictions on China’s ZTE

VW chairman, CEO knew of defeat devices early: Bild

Volkswagen AG's current chairman and chief executive were alerted by the carmaker's former CEO to the use of illicit emissions-control software in the United States two weeks before the carmaker disclosed the scale of its manipulations, Bild am Sonntag reported, without citing the source of the information. Martin Winterkorn, who resigned within a week of Volkswagen's (VW) biggest-ever corporate…

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VW chairman, CEO knew of defeat devices early: Bild

Exclusive: U.S. watchdog to probe Fed’s lax oversight of Wall Street

By Jonathan Spicer NEW YORK (Reuters) – A U.S. watchdog agency is preparing to investigate whether the Federal Reserve and other regulators are too soft on the banks they are meant to police, after a written request from Democratic lawmakers that marks the latest sign of distrust between Congress…

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Exclusive: U.S. watchdog to probe Fed’s lax oversight of Wall Street

Global uncertainty, instability pose risk to China’s economic growth: NDRC

BEIJING (Reuters) – The global economy remains uncertain and unstable, posing a risk to China's economic growth, the country's top economic planner said on Sunday.

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Global uncertainty, instability pose risk to China’s economic growth: NDRC

UK lawmakers say Facebook may have broken tax rules

By Tom Bergin LONDON (Reuters) – Facebook said it would ditch a corporate structure that helps minimize its UK tax bill, prompting lawmakers and campaigners to ask whether the arrangement had ever complied with UK tax rules. Facebook said on Friday it would stop booking sales…

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UK lawmakers say Facebook may have broken tax rules

ECB rate meeting, Chinese data in focus

By Balazs Koranyi FRANKFURT (Reuters) – The European Central Bank is almost certain to ease policy next week as depressed commodity prices raise the risk of deflation, while a string of data from China will offer clues about the extent of the recent emerging market slowdown. Growth in most key economies has slowed this year as states such as China to Brazil attempt to rebalance, weighing on global demand and sending deflationary waves around the…

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ECB rate meeting, Chinese data in focus

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