Companies

WASHINGTON—Equity markets have rallied since the election last year, but tax reform is not yet built into expectations. The passage of a bill to reform the tax system may give markets another boost, according to CEOs of top U.S. financial firms. “If nothing gets done on the corporate tax, that’ll be a big disappointment,” said […]

BERLIN/WASHINGTON—Daimler AG is recalling more than 1 million Mercedes-Benz cars and sport utility vehicles worldwide to address potential unintended air bag deployments, the German automaker said on Monday. The safety recall covers 495,000 vehicles in the United States, 400,000 in Britain, 76,000 in Canada and a few hundred thousand in Germany, company officials said. The German automaker did not immediately have a complete worldwide total. An electrostatic discharge, […]

British billionaire Richard Branson on Thursday placed another bet on the future with an investment in Hyperloop One, which is developing super high-speed transportation systems. Hyperloop One said Branson’s Virgin Group would take the company global and rebrand itself as Virgin Hyperloop One in the near future. Branson has joined the board of Hyperloop One, […]

President Donald Trump delivered a speech on tax reform in an Air National Guard hangar in Harrisburg, Pennsylvania on Oct. 11. He addressed a crowd of nearly 1,000 people, including truckers. “We want lower taxes, bigger paychecks, and more jobs for American truckers and for American workers,” Trump said. He talked about the main features of his tax reform plan […]

Does Canada really need a free trade agreement with China?

Iconic luxury handbag maker Coach Inc risked Wall Street and social media ire on Wednesday by announcing a change of its corporate name to Tapestry Inc, as it evolves into a multi-brand upscale retailer. The company’s shares fell as much as 3 percent in early trading, which analysts attributed to strong results from rival LVMH […]

The tax reform plan proposed by the Trump administration “would likely give the typical American household a $4,000 pay raise,” according to the excerpts released by the White House ahead of President Donald Trump’s tax pitch in Harrisburg, Pennsylvania on Oct. 11. The plan allows American corporations to bring their overseas money back to the […]

Manufacturers have reported a significant improvement in their activity over the past 12 months, and they are more positive in their outlook compared to last year. Manufacturing leaders expect to see growth in sales, investment, and employment going forward. According to the third-quarter survey conducted by the National Association of Manufacturers (NAM), nearly 90 percent […]

BERLIN—Flights operated by insolvent German carrier Air Berlin will end by Oct. 28 at the latest, it said on Monday, urging staff to seek jobs elsewhere while it works toward a carve-up of its assets. Air Berlin filed for insolvency in August and a government loan is keeping its planes in the air to give […]

The Taiwanese government has greenlighted an amendment to existing regulations that would allow the widely-anticipated startup company StarLux Airlines to become Taiwan’s third major commercial airline, operating beside the already well-known EVA Air and China Airlines. StarLux Airlines was registered last year and founded by Chang Kuo-wei, the youngest son of Chang Yung-fa, the late […]

WASHINGTON—The Trump administration’s tax reform blueprint was welcome news for women entrepreneurs who bear a substantial tax burden on their profits. Women-owned businesses represent more than a third of all U.S. companies, and the vast majority of them are pass-through entities that are subject to the individual income tax. “We have seen an incredible step […]

TORONTO—Sears Canada has to assess another revised bid from a buyer group led by its executive chairman as its lenders press for liquidation of the embattled retailer that could start as early as mid-October. Orestes Pasparakis, a lawyer for the insolvent retailer’s court-appointed monitor FTI Consulting Canada, told the court it is assessing a revised […]

BRUSSELS—Amazon on Wednesday was told to pay about 250 million euros ($294.38 million) in back taxes to Luxembourg, the latest U.S. tech company to be caught up in a European Union crackdown on unfair tax deals. The fine was much lower than some sources close to the case had expected and is only a fraction […]

Due in part to the existing tax code, the United States has lost about 4,700 companies and $510 billion in business assets in the last 12 years, according to a study released by advisory firm Ernst & Young (EY) on Sept. 19. The country has the highest corporate income tax rate among developed nations and applies […]

LONDON—Monarch Airlines collapsed on Monday, the biggest ever failure of a British airline, stranding tens of thousands of travelers overseas and prompting the country’s biggest-ever peacetime repatriation effort. Monarch cancelled about 300,000 future bookings and apologised to customers and staff as it became the UK’s largest carrier to go into administration. “I am so sorry […]

President Donald Trump announced the details of his tax reform plan on Sept. 27. The Trump administration, the House Committee on Ways and Means, and the Senate Committee on Finance released the framework for tax reform, with Trump offering some of the first details of the plan during remarks in Indianapolis, Indiana. According to the […]

Major U.S. companies are advocating for changes in the tax system that they say will boost investment, jobs, and economic growth. Business leaders are urging Congress to pass a bill by the end of this year. Chief executives of large corporations including UPS, Lockheed Martin, Boeing, AT&T, and Ernst&Young expressed their support for tax reform […]

WASHINGTON–U.S. manufacturers remain the prime targets for cyberattack and cyberespionage by malicious hackers, a new industry report shows. The report warns that there is a critical need for U.S. government and industry to build an effective cybersecurity framework to safeguard against a future major attack on the U.S. manufacturing industry, which forms the backbone of the […]

T-Mobile is close to agreeing tentative terms on a deal to merge with Sprint, people familiar with the matter said on Friday, a major breakthrough in efforts to merge the third and fourth largest U.S. wireless carriers. The transaction would significantly consolidate the U.S. telecommunications market and represent the first transformative U.S. merger with significant […]

Toys “R” Us Inc has been making $400 million in interest payments on its debt every year, largely due to its $6.6 billion leveraged buyout in 2005. This week, it succumbed to its debt burden, leading to the biggest bankruptcy of a U.S. retailer since that of Kmart in 2004. The largest U.S. toy retailer’s […]