The one-time tax hit is because of changes made to the U.S. tax code. On Tuesday, Australian mining giant BHP Billiton stated it will incur a $1.8 billion income tax hit due to changes in the income tax rate for… Read More ›
U.S
LG Electronics and Samsung Electronics to raise prices of washing machines in the U.S.
While both companies have invested in a U.S. plant, in the short run expect an increase in washing machines by 5% to 10%. With the Trump Administration slapping hefty import tariffs on large residential washers, on Thursday, LG Electronics Inc… Read More ›
U.S. Commodity Futures Trading Commission levies $70M on Deutsche Bank Securities Inc as penal
The $70 million penalty is for attempted manipulation of the USD ISDAFIX from January 2007 to May 2012. The U.S. Commodity Futures Trading Commission stated that it has ordered a filing and settling charges against Deutsche Bank Securities Inc, a… Read More ›
‘Oligarchy list’ could potentially damage image and goodwill of Russian businesses and firms
Russian stocks have largely shrugged off the risks of new U.S. sanctions which center around this list. On Tuesday, Kremlin’s spokesman Dmitry Peskov stated that with Washington choosing to place people close to the Kremlin as part of an ‘oligarchy… Read More ›
U.S. Justice Department and CFTC charges 3 banks and 8 individuals with “spoofing” of U.S. futures and commodities market
The series of lawsuits mark the growing trend of the Justice Department holding individuals accountable for their roles in corporate wrongdoings. The U.S. Justice Department along with the Commodity Futures Trading Commission (CFTC) have filed a civil and criminal lawsuits… Read More ›
Benefits from tax-cuts are likely to be short-lived
Economists opine that the 3 projected hikes in interest rates this year by the Feds could potentially offset the short term benefits of these tax cuts, which could in turn dampen the United States’ economic growth. A poll conducted by… Read More ›
An outlook on how the imposition of steep tariffs on washers and the solar industry is likely to play out in the U.S.
The imposition of these tariffs are in line with Trump’s ‘Make in America’ push and could significantly effect its skewed trade balance with China. With U.S. President Donald Trump slapping steep tariffs on solar panels and on imported washing machines,… Read More ›
Bacardi Ltd to acquire Patron Spirits International AG for $5.1 billion
Despite the alcoholic beverage industry seeing global sales decline by 1.3%, the tequila market grew by 5.2%. With this deal Bacardi aims to become the second biggest spirits company in the United States. With the aim of becoming the second… Read More ›
The Trump Administration’s Great Firewall of Commerce blocks Huawei Technologies and ZTE from gaining access to U.S. market
The Trump Administration is taking a stronger stance on national security policies initiated by the Obama Administration and is increasingly frustrating Beijing’s efforts at acquiring strategic U.S. industries and U.S. technology. Two congressional aides have disclosed, U.S. lawmakers have urged… Read More ›
85% North America content in vehicles, an unrealistic target: U.S. Auto industry to Trump Administration
The U.S. auto industry has gone at great lengths to to convince the Trump administration of the importance of NAFTA for the industry. In fact, in October 2017 major auto dealers, automakers and suppliers had launched a coalition to back… Read More ›
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