“Despite common perceptions to the contrary, our work shows that there is little evidence to suggest that corporate tax rates have any type of meaningful impact on U.S.
Importantly, Belski notes: “A similar story exists on the earnings front.
“It is important to keep in mind that any increase in taxes and reduction to EPS for U.S.
New York timeThe Dow Jones Industrial Average slipped 0.2%The Russell 2000 Index rose 1.2%The Stoxx Europe 600 rose 0.3%The MSCI Emerging Markets Index rose 0.6%CurrenciesThe Bloomberg Dollar Spot Index was little changedThe euro was little changed at $1.2089The British pound rose 0.2% to $1.3905The Japanese yen fell 0.2% to 108.13 per dollarBondsThe yield on 10-year Treasuries advanced one basis point to 1.57%Germany’s 10-year yield was little changed at -0.25%Britain’s 10-year yield advanced one basis point to 0.76%CommoditiesWest Texas Intermediate crude fell 0.3% to $62 a barrelGold futures rose 0.2% to $1,781 an ounceFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Facebook is battling the California lawsuit, which was filed in 2018 and which claims that executives knew that the “potential reach” figures given out by the company to advertisers for an idea of how many people would see their adverts were misleading and included fake or duplicate accounts.
Biden is set this week to propose nearly doubling taxes on capital gains to 39.6% for people earning more than $1 million, Reuters has reported, in what would be the highest tax rate on investment gains since the 1920s.
See more from BenzingaClick here for options trades from BenzingaGerman Group Lodge Antitrust Allegations Over Apple’s Privacy UpdateTwitter, Facebook Follow Emergency Order To Suspend Posts Criticizing Indian Government Of Mishandling Pandemic© 2021 Benzinga.com.
BP wants to supply electricity in California, Illinois, Ohio, Pennsylvania and Texas in its first foray into the retail power business, according to an April 20 filing with the Federal Energy Regulatory Commission seen by Reuters.
ATHENS -Greece will lift quarantine restrictions on coronavirus-free visitors from more countries including Australia and Russia from Monday as it extends exemptions ahead of formally opening up to tourists on May 15, the transport ministry said on Sunday.
ROME from European Union and national funds to revive its coronavirus-battered economy, a document seen by Reuters showed.
President Joe Biden’s $2.3 trillion infrastructure proposal without Republican support.The moderate West Virginia Democrat told CNN he favors a smaller and “more targeted” bill.With the Senate chamber split 50-50 between Biden’s party and rival Republicans, Democrats such as Manchin from conservative states hold the power to block the president’s agenda.Most legislation requires 60 votes to advance in the 100-seat Senate, but a process called “budget reconciliation” allows some bills to become law with a simple majority, with Vice President Kamala Harris casting the tie-breaking vote.That was how Democrats were able to realize a nearly $2 trillion coronavirus rescue package in the face of unified Republican opposition.But Manchin said he opposes using reconciliation to pass Biden’s proposed infrastructure package.Biden’s sweeping proposals in his infrastructure proposal also include $400 billion for in-home and community based care for the elderly and disabled as well as $100 billion for schools and child care facilities.U.S.
The S&P 500 and Nasdaq closed at record highs on Monday, fueled by Tesla Inc and other heavyweight growth stocks ahead of a deluge of earnings reports this week.
Companies including Cimarex Energy Co and Concho Resources that locked in prices on some of their volumes when prices rebounded last year to around $40 per barrel missed some of the price jump, and Concho owner ConocoPhillips paid millions of dollars to unwind those contracts.
“For a company like ours, typically, pre-pandemic, 2.5, 3% a year growth would have been terrific, right, for the P&L.
Officials in March signaled they expect to hold rates steady through 2023.What Bloomberg Economics Says:“BE expects the Fed policy statement to acknowledge continued acceleration in the economic recovery, but communications — including the post-meeting press conference — will stop well short of providing further guidance on the conditions which would warrant a tapering of QE.”–For full analysis, click hereElsewhere, central bankers in Japan, Sweden and Colombia are among a throng of monetary authorities holding meetings, and euro-area GDP data is set to show how the economy fared during renewed lockdowns across the region in the first quarter.Click here for what happened last week and below is our wrap of what is coming up in the global economy.AsiaThe Bank of Japan is expected to nudge up some of its growth projections, and possibly lower its price view for the current year when it updates its economic forecasts on Tuesday.