Microsoft sued the Internal Revenue Service on Monday, seeking information about a law firm hired by U.S. tax authorities in a review of how the software company books sales between subsidiaries.
Sectors
Saudi, Russia pre-OPEC talks yield no oil output cut
Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded no agreement on Tuesday on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices.
U.S. government working to renew oil agreement with Israel
The United States is in the midst of renewing its 35-year-old commitment to supply Israel with oil in emergency situations after the pact expired on Tuesday, a U.S. State Department official said.
Coal mine accident in northern China kills 24: Xinhua
A coal mine fire in China's northern Liaoning province has killed 24 workers and left 52 injured, the official Xinhua news agency reported on Wednesday, underscoring the poor safety record of the world's biggest coal producing country.
U.S. House to hold hearing on oil export ban
A House of Representatives panel will hold a hearing on Dec. 11 to explore whether a decades-old law that prohibits the export of crude oil makes sense in an era of domestic energy abundance.
Latest News
China showed governments and the planet's biggest tech firms last week its vision for global Internet governance - clean, controlled and choreographed.
Japan's loss-making Sony Corp plans to slash its TV and mobile phone product line-ups to cut costs, counting on multi-billion dollar revenue surges for its buoyant PlayStation 4 and image sensor businesses over the next three years.
Macy's Inc, which traditionally kicks off the U.S. holiday shopping season with a nationally televised parade in Manhattan, also will join a handful of other companies this year parading their ads on Facebook's fledgling video feeds.
U.S. sportswear company Nike will continue to sponsor the United States Olympic Committee (USOC) and its athletes until the end of 2020, the USOC said on Monday.
General Motors Co President Dan Ammann on Monday said he expects "more of the same" next year from a U.S. auto market that has been growing slowly, while he is bracing for continued soft demand in other parts of the globe.
Japan's transport ministry last week set up a special task force to deal with air bag-related recalls and has urged automakers to speed up replacements of potentially defective Takata-made air bag inflators, its minister said on Tuesday.
The European Union's top official for digital markets said on Monday he was concerned that big tech companies may be abusing dominant positions, but he also said investigations into Google must not be rushed.
If the world's biggest central banks were actually coordinating a global monetary policy, they could scarcely do a better job of convincing financial markets right now.
An advanced malicious software application has been uncovered that since 2008 was used to spy on private companies, governments, research institutes and individuals in 10 countries, anti virus software maker Symantec Corp said in a report on Sunday.
