Irish cabinet decides to fight EU on Apple tax
DUBLIN Ireland's cabinet agreed on Friday to join Apple in appealing against a multi-billion-euro back tax demand that the European Commission has slapped on the iPhone maker, despite misgivings among independents who back the fragile coalition.A government spokesman said that following the cabinet's decision, it would ask parliament to endorse the legal challenge on Wednesday next week. Finance Minister Michael Noonan has insisted Dublin would fight any adverse ruling ever since the European ..>> view originalClaims against Hanjin flood in as customers seek their cargo
151000 Jobs Added In August, Jobless Rate 4.9%
The U.S. economy added 151,000 jobs in August, the Labor Department said, 24,000 less than expected. The jobless rate held steady at 4.9%. The report was viewed as close to Goldilocks — not too hot, not too cold — because it's likely to keep the Federal Reserve on hold when it meets on Sept. 21. Major stock indexes, which had been virtually pointed modestly higher, while the 10-year Treasury yield dipped slightly. Still, there were some soft spots in the report. Hourly wage gains slowed to a 2..>> view originalChinese government flexes muscles with Uber, DreamWorks probes
By Adam Jourdan and Michelle Price | SHANGHAI/HONG KONG SHANGHAI/HONG KONG The Chinese government said on Friday it was investigating two high-profile takeover proposals involving U.S. companies, the latest sign of its growing influence on whether deals are approved - even those appearing to have little impact in China.The Ministry of Commerce said at a briefing on Friday it was probing ride-hailing giant Didi Chuxing's planned acquisition of U.S. rival Uber Technologies Inc's UBER.UL China ..>> view originalEarly movers: LULU, YUM, ABBV, AVGO, SWHC, AMBA, GAP, UPS, MCD & more
Check out which companies are making headlines before the bell: Lululemon — The yogawear maker reported adjusted quarterly profit of 38 cents per share, 1 cent a share above estimates. Revenue was in line, but investors are focusing on weaker than expected guidance, putting extreme pressure on Lululemon shares. Yum Brands — Yum sold a $460 million stake in its China unit to a consortium consisting of a China investment firm and a unit of online retail giant Alibaba. The unit is in the pr..>> view originalTreasury yields rise ahead of August jobs report
Treasury prices jumped, pushing yields lower, after the official jobs report for August showed that the pace of hiring in the U.S. slowed sharply, with the economy creating just 151,000 jobs, a smaller-than-expected increase. Investors interpreted the number as potentially forcing the Federal Reserve to stand pat on interest rates at its September meeting, fueling appetite for U.S. government debt, which pushed prices higher and yields lower. The falling yield trend was most pronounced in shor..>> view originalClinton unveils plan to stop price-gouging on old drugs
Democratic presidential candidate Hillary Clinton. (Matt Rourke/AP) Hillary Clinton has been quick to criticize drug companies that raise the prices of old drugs to boost their profit margins, calling the EpiPen price hikes "outrageous" and accusing embattled pharmaceutical executive Martin Shkreli of "price gouging" on a decades-old anti-parasitic drug. On Friday morning, Clinton's campaign unveiled her plan to prevent companies from exploiting these kinds of older drugs, using measures su..>> view originalPayrolls in U.S. Rise by 151000 in August; Jobless Rate Steady
Companies kept adding to payrolls in August while measures of slack in the labor market were little changed, signaling steady hiring in the face of lackluster global growth.Payrolls climbed by 151,000 last month following a 275,000 gain in July that was larger than previously estimated, a Labor Department report showed Friday in Washington. The median forecast in a Bloomberg survey called for 180,000. The jobless rate and labor participation rate held steady, while wage gains moderated and hour..>> view originalCanada's Trade Deficit Shrinks on Year's Biggest Export Gain
Canada’s July trade deficit narrowed more than forecast on the biggest jump in exports this year, reinforcing the view the Bank of Canada won’t lower rates. The surplus shrank to C$2.49 billion ($1.9 billion), versus the C$3.3 billion median of 17 forecasts in a Bloomberg News economist survey. Statistics Canada’s report Friday from Ottawa also boosted the estimated June deficit to a fresh record of C$3.97 billion, from an earlier C$3.63 billion. The report signals a break from record shortfal..>> view original
Tuesday, September 13, 2016
Irish cabinet decides to fight EU on Apple tax and other top stories.
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