The strikes, supported by five Arab nations, are a major escalation in the campaign and hit other extremist groups, including one that the Pentagon says is planning to attack U.S. interests.
Traffic in major cities in the developing world can be a mind-numbing mess. A team at IBM in Kenya's capitol thinks it's found an answer.
Stock markets around the world are having a downbeat day so far, in part because that's what tends to happen in September, but also because of a new signs of trouble for Europe's economy. A survey of business activity in the 18 countries that use the Euro suggests recovery there is stalling. Plus, there's news today the Obama Administration is cracking down on what are called "inversions," the controversial maneuver of acquiring foreign companies to save U.S. tax. Targeted are the special loans that make these acquisitions possible. President Obama and republicans and democrats in congress agree that what's need in the longer run is tax reform. Yet that's a process that doesn't seem to be moving forward any time soon. That got federal budget watcher Stan Collender doing the math on an unconventional solution. And among the many announcements coming out of Climate Week in New York comes this news of strange bedfellows: A partnership between some leading environmental non-profits, including the Environmental Defense Fund, and five oil companies.
The Obama Administration has announced a crack down on what are called "inversions": the controversial maneuver of acquiring foreign companies to save U.S. tax. Targeted are the special loans that make these acquisitions possible; seen as a stopgap approach.
President Obama and republicans and democrats in congress agree that what's need in the longer run is tax reform. But that's a process that doesn't seem to be moving forward any time soon.
That got federal budget watcher Stan Collender doing the math. Collender—who use to work for both the House and Senate budget committees and tweets at theBudgetGuy—has written a column entitled "How to Abolish the Federal Corporate Income Tax without Increasing the Deficit," and stopped by to talk about an unconventional solution.
Click the media player above to hear Stan Collender in conversation with Marketplace Morning Report host David Brancaccio.
You heard all about the largest initial public offering (ever) last week. That is, the debut of the Chinese e-commerce company Alibaba. Now, investors are awaiting the second-biggest U.S. IPO of the year.
Shares of Citizens Financial Group are expected to price later Tuesday. It could be the largest bank IPO since Goldman Sachs in 1999.
Citizens Financial Group is one of the largest regional banks in the U.S., but it’s owned by the Royal Bank of Scotland. During the financial crisis, RBS was bailed out by British taxpayers. Now, the UK government wants out, says banking analyst Richard Bove with Rafferty Capital Markets.
“They’re saying, 'Hey look, we don’t want to be in the banking business,'” Bove says. “'You forced us to bail you out. Now give us the money back, and if that means selling off assets, sell them.'”
Kathleen Smith manages a fund that invests in newly public companies at Renaissance Capital. She says this year has been the strongest for IPOs since 2000, but financial companies haven’t fared so well.
With the Citizens offering just days after the biggest IPO ever, “it will be a test of the market capacity to add additional new product to portfolios,” she says.
Smith says investors may also look askance at the $9 million in bonuses Citizens executives are expected to get from the IPO.