Apple Wins EU Court Case Over $15 Billion in Claimed Taxes
A European Union high court has ruled that technology giant Apple does not have to pay 13 billion euros ($15 billion) in back taxes to Ireland, as the EU’s executive commission wants.
A European Union high court has ruled that technology giant Apple does not have to pay 13 billion euros ($15 billion) in back taxes to Ireland, as the EU’s executive commission wants.
With tens of millions of Americans out of work and many businesses shut down or operating under restrictions due to the coronavirus, three of the nation’s biggest banks set aside nearly $30 billion in the second quarter to cover potentially bad loans that were fine only a few months ago.
Wells Fargo says it lost $2.4 billion in the second quarter, the first quarterly loss for the bank since the real estate crash of 2008.
U.S. consumer prices increased 0.6% in June, after three months of declines, with a big jump in gasoline prices accounting for over half of the gain.
The British economy grew by far less than anticipated during May, dampening hopes that the recovery from what is set to be one of the country’s deepest recessions in centuries will be rapid.
Analog Devices is buying Maxim Integrated in an all-stock deal that values the combined business at more than $68 billion.
The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus recession exploded while millions of job losses cut into tax revenues.
The new chief of U.S. global media is plowing ahead with changes to the Voice of America and other international broadcasters, heightening concerns for the independent news organizations.
The Federal Reserve says it purchased $1.3 billion in corporate bonds in late June as part of its effort to keep U.S. interest rates low and ensure large companies can borrow by selling bonds.
Businesses in beach communities and mountain getaways up and down the East Coast are fretting about a shortage of workers as the summer season picks up steam.