Search Results for: tax
High & Low Finance: Citigroup’s Settlement, Pro and Con
July 18th, 2014
The punishment did not fit the crime, or at least it did not fit the crime that was charged. Citigroup’s $7 billion settlement of charges that it sold bad mortgage securitizations is a classic example of prosecutors striking a ...
Morningstar settles $61 million trade secret suit
July 18th, 2014
Morningstar, the Chicago investment research firm, settled a trade secret suit with Business Logic, a Chicago-based developer of financial software, for $61 million. Business Logic provided Ibbotson Associates with software for tracking and managing individuals’ 401(k) accounts in 2003. ...
Apple appoints BlackRock founding partner to board
July 18th, 2014
Apple Inc said Susan Wagner, founding partner of BlackRock Inc, had been appointed to its board. The maker of iPhone said Bill Campbell, the board’s longest-serving member, would retire after 17 years of service. Campbell is chairman of Intuit ...
Japan upgrades economic outlook
July 17th, 2014
Japan upgraded its overall assessment of the economy in July for the first time in six months as consumers reopened their wallets following an initial pullback in spending in the wake of a sales tax increase. In its monthly ...
Profit Surges at Morgan Stanley
July 17th, 2014
Morgan Stanley said on Thursday that its second-quarter earnings surged, driven largely by growth in the firm’s wealth management operations and by strong performances in investment banking and equity sales. Excluding certain charges relating to its debt and a ...
Microsoft to Cut Up to 18,000 Jobs
July 17th, 2014
Microsoft announced on Thursday that it would eliminate up to 18,000 jobs over the next year as part of a major restructuring. Previously, the largest layoffs at the company were in 2009, when about 5,800 people were affected amid ...
Arab Bank group profit rises by seven per cent
July 17th, 2014
Arab Bank Group net profit after tax and provisions during the first half of 2014 grew by seven per cent to $414.9 million from $387.3 million in the same period last year. Loans and advances also increased by four ...
Unemployment in Britain Falls to 6.5 Percent
July 16th, 2014
British workers’ earnings grew at the slowest rate on record in the three months to May, one gauge showed, even as unemployment fell further, giving the Bank of England pause for thought as it prepares to start raising interest ...
BlackRock’s second-quarter profit rises 11 percent
July 16th, 2014
BlackRock Inc (BLK.N), the world’s largest money manager, reported an 11 percent jump in second-quarter profit on Wednesday, boosted by strong markets that helped drive flows into its products across asset classes. The New York-based asset manager reported net ...
IRS Issues Final Regs On Truncated TINs
July 16th, 2014
As part of efforts to combat identity theft and tax refund fraud, the United States Treasury Department has released, in the Federal Registry, final regulations applicable to the use of Internal Revenue Service (IRS) truncated taxpayer identification numbers (TTINs). ...
