Explainer: How could the new US corporate minimum tax affect companies?

Aug 12 (Reuters) – The main revenue source in the new US tax, climate and drugs bill is a novel 15% corporate minimum tax aimed at stopping large, profitable companies from gaming the Internal Revenue Service code and slashing their tax bills to zero. The US House of Representatives was scheduled to vote on Friday … Read more

With Alibaba stake cut, SoftBank’s Son cools toward China tech

A journalist raises her hand to ask a question to Japan’s SoftBank Group Corp Chief Executive Masayoshi Son during a news conference in Tokyo, Japan, November 5, 2018. REUTERS / Kim Kyung-Hoon / File Photo Register now for FREE unlimited access to Reuters.com Register TOKYO, Aug 12 (Reuters) – SoftBank Group Corp’s (9984.T) decision to … Read more

Novelist Salman Rushdie on ventilator after New York stabbing

NEW YORK, Aug 12 (Reuters) – Salman Rushdie, the Indian-born novelist who spent years in hiding after Iran urged Muslims to kill him because of his writing, was stabbed in the neck and torso onstage at a lecture in New York state on Friday and airlifted to a hospital, police said. After hours of surgery, … Read more

Five Chinese state-owned companies to delist from NYSE

SHANGHAI / HONG KONG, Aug 12 (Reuters) – Five Chinese state-owned firms including China Life Insurance (601628.SS) and oil giant Sinopec (600028.SS) said Friday they would delist from the New York Stock Exchange, amid heightened diplomatic and economic tensions with the United States. The companies, which also include Aluminum Corporation of China (Chalco) (601600.SS), PetroChina … Read more

S.Korea’s Yoon pardons Samsung’s Jay Y. Lee to counter ‘economic crisis’

Samsung heir served 18 months in jail for bribery Businessmen were convicted in scandal that felled a president S.Korea says leaders needed to help overcome economic crisis Samsung may increase investment with Lee pardoned – analysts SEOUL, Aug 12 (Reuters) – South Korea’s President Yoon Suk-yeol pardoned Samsung Electronics (005930.KS) Vice Chairman Jay Y. Lee … Read more

SoftBank’s Alibaba sale could end breakup taboo

Japan’s SoftBank Group Corp Chief Executive Masayoshi Son attends a news conference in Tokyo, Japan, November 5, 2018. REUTERS / Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com Register LONDON, Aug 10 (Reuters Breakingviews) – Masayoshi Son is thinking the unthinkable at SoftBank Group (9984.T). His $ 63 billion technology and telecom empire … Read more

Stocks rally, dollar falls on easing inflation

Wall Street rallies with Nasdaq leading gains CPI was flat in July after rising 1.3% in June In 12 months through July, CPI rose 8.5% vs 9.1% in June NEW YORK, Aug 10 (Reuters) – Wall Street equities rallied and the dollar tumbled after signs of sharply decelerating US inflation prompted bets that the Federal … Read more

Disney tops Netflix on streaming subscribers, sets higher prices

LOS ANGELES, Aug 10 (Reuters) – Walt Disney Co (DIS.N) edged past Netflix Inc (NFLX.O) with a total of 221 million streaming customers and announced it will increase prices for customers who want to watch Disney + or Hulu without commercials. The media giant will raise the monthly cost of Disney + without advertising by … Read more

China’s factory inflation hits 17-month low, consumer prices speed up

A worker walks past steel rolls at the Chongqing Iron and Steel plant in Changshou, Chongqing, China August 6, 2018. REUTERS / Damir Sagolj / File Photo Register now for FREE unlimited access to Reuters.com Register July producer inflation at lowest since Feb 2021 July consumer inflation at 2-year high PBOC seen staying accommodative to … Read more

Aluminum foundry fights for survival in European gas crisis

Family-owned aluminum foundry trials new shift pattern Plan to maintain production and reduce gas usage Carmakers warn output cuts inevitable if suppliers close New gas-free technologies will take years to scale up Suppliers need more help to innovate, industry says SOLTAU, Germany, Aug 9 (Reuters) – Shouting over the clanging of machinery, Gerd Roeders is … Read more