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Do Tax Cuts Make Businesses Better?
Capital Markets
Proposed US tax cuts—if they happen—would be a nice boon for corporate bottom lines. But for most companies, the boost to underlying earnings power would likely be fleeting. To find tax-reform winners, look for the exceptions. The stocks of potential tax-reform beneficiaries have surged since the election of Donald Trump last November. The reasoning is that lower tax rates will
Here's What Everyone is Saying About Trump's Tax Plan
Capital Markets
President Trump's 100th day in office is on Saturday - and while he cares/doesn't care how people grade his first few months in office - he's making a big push to put his stamp on some of the bold initiatives he talked about on the campaign trail just in case anyone's keeping score. With that in mind, his administration unveiled
Failing Upwards: Marissa Mayer Getting $186 Million From Verizon Deal
Marissa Mayer's five-year run as CEO of Yahoo has been an unqualified failure - beset by bad acquisitions, embarrassing data breaches and an inability to ever revitalize the internet pioneer's fortunes - but Mayer will nonetheless leave Yahoo very well compensated, taking in roughly $186 million from the sale of its core business to Verizon, as the Wall Street Journal reports.
Lawsuit Alleges That Theranos Ran Fake Blood Tests to Dupe Directors and Investors
Citing unsealed court documents, the Wall Street Journal is reporting that Theranos Inc. allegedly used a shell company to "secretly" acquire commercial-lab equipment that misled its company directors about the efficacy of its blood-testing technology and also inflated its financial projections to investors. Per the Journal: The Silicon Valley company—which once promised to revolutionize the blood-testing industry using tiny samples
Apple Totally Busted Uber Illegally Tracking iPhone Users
The New York Times published a big feature over the weekend examining how Uber CEO Travis Kalanick's questionable management practices - specifically his propensity toward risk-taking -  has pushed the ride-sharing company precariously close to unraveling. But one of the most eye-opening revelations from the article by Mike Issac comes at the very beginning, detailing a previously unreported meeting that
India to Be Third-Largest Consumer Market
Anticipated spending growth of 12% a year will make India the world's third-largest consumer market by 2025, according to a new estimate. The forecast from the Boston Consulting Group, a consultancy, predicts that consumption will triple to $4 trillion in the period. “India’s consumer market is poised for fundamental change,” said Nimisha Jain, partner at the consultancy. “As the consumer
Could UK's Snap Election Signal Softer Brexit Stance?
British Prime Minister Theresa May has called a snap election on June 8. With only a slim majority in parliament, she hopes to strengthen her position ahead of complex Brexit negotiations. May’s announcement that the UK is heading to the polls three years ahead of schedule is a surprise in terms of timing. But an early election has looked tempting
China Growth Uptick Raises Faith in Yuan
Better-than-expected Chinese growth in the first quarter has led some analysts to suggest the renminbi is undervalued. Official figures say the Chinese economy grew at a pace equivalent to 6.9% a year in the first quarter, an improvement over most estimates. According to Jameel Ahmad of brokerage FXTM, the growth indicates the renminbi is oversold. “I don’t believe there is
Morgan Stanley's Impressive Q1 Bolsters Confidence, But Volatility Remains High
A blowout quarter from Morgan Stanley (NYSE: MS) appears to be soothing investors still reeling after yesterday’s surprise miss by Goldman Sachs Group Inc (NYSE: GS). Futures trading indicated a possible higher open, but keep an eye out for more intraday volatility. MS, the last of the big banks to report, crushed Wall Street analysts’ Q1 estimates, with sales and
A House Divided
ROADMAP In the world: A recap of world events, including an update on global growth trends, major political developments and changes to policies that drive financial markets. In the markets: A quick review of performance by asset class, including global equities, commodities, currencies, and both developed and emerging market bonds. Outlook: The latest update to PIMCO’s outlook for global growth,