Tax season opens Jan. 23, and refunds are likely to take longer
The IRS will begin accepting 2016 tax returns on Jan. 23, and this year’s deadline is April 18 — not 15 — because the deadline arrives on a weekend, and is followed by the Emancipation Day holiday in Washington. Expect delays in your 2017 refund — due to holidays for Presidents’ Day on Feb. 20 and processing times for the federal government and banks. The IRS, for instance, instituted some antifraud measures that may delay millions of refunds until Feb. 27, more than a month after tax-filing se..>> view originalTrump threatens German carmakers with import tariff
By Edward Taylor and Andreas Rinke | FRANKFURT/BERLIN FRANKFURT/BERLIN U.S President-elect Donald Trump warned German car companies he would impose a border tax of 35 percent on vehicles imported to the U.S. market, a plan that drew sharp rebukes from Berlin and hit the automakers' shares.In an interview with German newspaper Bild, published on Monday, Trump criticized German carmakers such as BMW (BMWG.DE), Daimler (DAIGn.DE) and Volkswagen (VOWG_p.DE) for failing to produce more cars on U...>> view originalBaidu names former Microsoft Office head Qi Lu as its COO
Chinese search giant Baidu has named former Microsoft business group head Qi Lu as its COO and group president.Until last September Lu was head of Microsoft's Applications and Services Group, where he managed products including Microsoft Office and Office 365, Bing search engine and Cortana personal assistant.At Baidu, Lu will be in charge of products, technology, sales, marketing and operations.A key strategic focus for the company over the next ten years will be artificial intelligence, B..>> view originalReynolds board agrees to accept $49.4B offer from BAT - Winston
The mega-offer of British American Tobacco Plc buying full ownership of Reynolds American Inc. has been accepted by the Reynolds board today.Getting Reynolds to accept the offer required BAT raising its offer by another $2.4 billion – worth now $49.4 billion at the end of trading Monday – for the remaining 57.8 percent of Reynolds that BAT did not already own.As a result, Reynolds shareholders will own 19 percent of BAT, which would become the world's largest publicly traded tobacco manufacture..>> view originalChina's Xi Jinping Defends Globalization at Davos
Chinese President Xi Jinping offered a full-throated defense of economic globalization at a time of global uncertainty fueled by Britain’s decision to leave the European Union and the U.S. election victory of Donald Trump . “Some people blame economic globalization for the chaos in our world,” Mr. Xi said in a speech at the World Economic Forum in Davos, Switzerland. Mr. Xi countered the notion, saying that neither the refugee crisis nor the international financial crisis were the product of su..>> view originalHere's How Trump Could Try to Kill Carried-Interest Tax Break
President-elect Donald Trump railed against his main political opponent for allowing a tax break that lets some investment managers pay lower tax rates than average workers. After he takes office, he may have no one to blame but himself.Some tax law experts say Trump could unilaterally end the so-called “carried interest” loophole, which enables fund managers to pay a tax rate as low as 20 percent -- roughly half the top rate for ordinary income.Republican lawmakers have shown little desire to ..>> view originalStudy: 8 people have same wealth as world's poorest half
A new study shows 8 famous billionaires have a net worth that equals the poorest half of the world. Researchers are calling on world leaders to change that. USA TODAY NETWORKAn Indonesian street vendor carries her belongings as others spend their time at a park in a slum area as high rise buildings are seen on the background in Jakarta, Indonesia, on Jan. 9, 2017.(Photo: European Pressphoto Agency)Income inequality is so now lopsided that eight men now own the same amount of wealth as t..>> view originalWorld Stock Markets Jittery, Gold Gains On Brexit, Trump Worries
World Stock Markets Jittery, Gold Gains On Brexit, Trump WorriesBy Jim Wyckoff, Contributing Writer, Money Morning • January 17, 2017(Kitco News) – World stock markets were mostly lower Tuesday. U.S. stock indexes are also pointed toward lower openings when the New York day session begins. U.S. markets were closed for a holiday on Monday. There are fresh geopolitical concerns regarding Brexit.Gold prices are sharply higher and hit a two-month high Tuesday. Worries about the U.K. leaving the Eur..>> view originalGM's $1B Investment Is Not Driven by Trump and Likely Dates Back to 2014
General Motors is expected to announce a $1 billion investment in its U.S. factories on Tuesday, a move that will allow the nation's largest automaker to create or retain about 1,000 American jobs, according to several sources. The announcement will come exactly two weeks after President-elect Donald Trump threatened to impose a "big border tax" on GM for importing the hatchback version of its compact Chevrolet Cruze model from Mexico. And it follows other investment U.S. announcements made ..>> view originalWalmart adding 10000 US jobs
Walmart, which employs more workers than any other American business, plans to add 10,000 U.S. jobs this year. The job growth will represent less than 1% of the company's current American workforce of about 1.5 million people. But it bucks the trend of major brick-and-mortar retailers, which have been slashing jobs and closing stores. Macy's (M) is closing 68 stores and cutting more than 10,000 jobs. Sears Holdings (SHLD) is closing 150 Sears and Kmart stores, eliminating an undisclosed n..>> view original
Monday, January 30, 2017
Tax season opens Jan. 23, and refunds are likely to take longer and other top stories.
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