Trump's Proposed Tax Cuts Could Boost US and Global Growth, Says World Bank
WASHINGTON—Donald Trump’s vowed tax cuts could goose global economic growth this year and next, the World Bank said Tuesday, fresh fuel for a world struggling with stagnant trade, weak investment and rising policy uncertainty. In its semiannual flagship economic report, the development institution said the global economy should expand by 2.7% this year, down a bit from the 2.8% predicted last June. But it is up from last year’s...>> view originalIRS Chief Talks Tax Season Open, Refund Delays & Trump Transition Team
John Koskinen, commissioner of the Internal Revenue Service (IRS). Photographer: Pete Marovich/Bloomberg With tax season looming, Internal Revenue Service (IRS) Commissioner John Koskinen and partners from state tax authorities and the tax preparation and software industry shared what taxpayers need to know in 2017. "There are a number of important changes this year involving refunds and tax law changes that we encourage people to keep in mind," said Koskinen. “We encourage taxpayers to plan ..>> view originalValeant's CeraVe, other skin care brands sold to L'Oreal for $1.3B
LAVAL , Quebec, Jan. 10 (UPI) -- Valeant Pharmaceuticals International Inc. will sell three of its skin care brands to L'Oreal for $1.3 billion in cash, it announced Tuesday. The sale of the Canadian company's CreaVe, AcneFree and AMBI skin care lines is the latest effort by Valeant to pare down debt of $30 billion. It agreed Monday to sell Dendreon, its cancer treatment division known for the prostate medication Provenge, to Chinese company Sanpower for $820 million. The CeraVe brand of cleans..>> view originalFalcon Bank's Former Singapore Manager Sent to Prison in 1MDB Probe
A Singapore court Wednesday sentenced a former branch manager of Switzerland’s Falcon Private Bank AG to prison for crimes connected to the alleged multibillion-dollar misappropriation at Malaysian state investment fund 1MDB. Jens Sturzenegger, 42, a Swiss national who managed Falcon’s Singapore unit, was charged last week with 16 offenses under various laws, including one that requires banks and their officers to enact due-diligence...>> view originalTrump nominee with ties to Putin faces confirmation hearing
The former ExxonMobil CEO claims close ties to Russian President Vladimir Putin, having overseen the company's partnership with a state-owned energy giant there, work that earned him the country's highest award for non-citizens.Questions about Tillerson's and Trump's ties to Moscow are expected to be front and center at the Senate Foreign Relations Committee hearing, but Republicans and Democrats alike will also question the nominee about his positions on Iran, sanctions, climate change and othe..>> view originalDollar duds: Surging dollar may be a reason to sell these stocks
If the dollar keeps rising, investors may want to rethink consumer staples holdings in their portfolios. The sector will face multiple headwinds in 2017 and see further downside, Goldman Sachs said Monday in a report that lowered its guidance for the group to cautious from neutral. Multinational companies feeling the effects of a stronger U.S. dollar, rising interest rates negatively impacting companies' valuations and "relatively less (if any) benefits" from impending changes in tax ..>> view originalWal-Mart plans to cut hundreds of jobs this month
Wal-Mart plans to cut hundreds of jobs this month Before you go, we thought you'd like these... Wal-Mart Stores Inc (WMT.N) plans to cut hundreds of jobs before the end of January, the Wall Street Journal reported, citing people familiar with the situation.The Bentonville, Arkansas-based retailer plans to eliminate jobs at its headquarters and regional personnel that support stores, according to the report.Many of the eliminations will affect Wal-Mart's human resources department, a la..>> view originalDonald Trump and Alibaba founder to create '1 million' US jobs? Unlikely.
BEIJING — Jack Ma, the billionaire founder of Chinese e-commerce giant Alibaba, strolled into Trump Tower on Monday to talk to Donald Trump about a plan to create 1 million U.S. jobs — at least that’s how they sold it. Trump’s incoming press secretary said the tycoons would discuss “how Alibaba can create 1 million U.S. jobs by enabling 1 million U.S. small businesses to sell goods into the China and the Asian marketplace.” For its part, the company pitched it as a certainty: “Alibaba,” it sai..>> view original
Monday, February 6, 2017
Trump's Proposed Tax Cuts Could Boost US and Global Growth, Says World Bank and other top stories.
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