Establishing a tax domicile abroad to avoid U.S. taxes is a hot strategy in corporate America, but many companies that have done such "inversion" deals have failed to produce above-average returns for investors, a Reuters analysis has found.
Industry
U.S. existing home sales rise at fastest pace in 10 months
Americans resold their homes in July at the fastest pace in almost a year, a sign the housing market was gaining steam again after a year-long slump.
OnBeep raises Series A funding round of $6.25M to build next generation of wearable communication devices
San Francisco-based startup OnBeep has announced a new Series A round of $6.25 million in new funding to build what it calls “beautiful wearable communication devices that unite groups and allow teams to collaborate more fluidly in real time”.
U.S. mortgage applications rise in latest week
Applications for U.S. home mortgages rose last week as demand for refinancing increased, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 1.4 percent in the week ended August 15.
U.S. consumer prices rise modestly in July
U.S. consumer prices barely rose in July as declining energy costs partially offset increases in food and rents, which could give the Federal Reserve ammunition to keep interest rates low for a while.
Latest News
U.S. stocks advanced on Monday, with the Dow Industrials up roughly one percent, as the threat of an escalation of tensions in Ukraine appeared to wane and the latest flurry of merger action supported equities.
Wal-Mart Stores Inc reported a 2.8 percent rise in quarterly sales, helped by higher sales at its smaller-format stores, but U.S. same-store sales failed to show growth again.
The euro zone economy ground to a halt in the second quarter of the year, drained of vigour by contraction in Germany and stagnancy in France.
The Kremlin's worst clash with the West since the 1991 collapse of the Soviet Union has accelerated the outflow of two of Russia's most prized assets: money and brains.
The four biggest U.S. brokerage firms are facing an exodus of employees who are finding they can make more money and save on taxes by taking their clients and starting an independent firm before they retire.
China's economy showed further signs of softening in July despite a burst of government stimulus measures, suggesting more policy support may be needed to keep growth on track as a property downturn worsens.
Search engine Google Inc and five Asian telecom and communications companies have agreed to invest about $300 million to develop and operate a trans-Pacific cable network connecting the United States to Japan.
Employment growth at the largest U.S. companies has lagged far behind increases in revenue and operating profit since the start of the century, as firms reaped the benefits of globalization, technology, and other ways to operate more productively, according to a Reuters analysis of corporate data.
World shares and the dollar tumbled on Friday and oil and gold jumped after U.S. President Barack Obama authorised targeted air strikes in Iraq, stoking fears of another drawn-out conflict in the region.
