A new International Monetary Fund (IMF) study shows that USD$5.2 trillion was spent globally on fossil fuel subsidies in 2017. The equivalent of over 6.5% of global GDP of that year, it also represented a half-trillion dollar increase since 2015 when China ($1.4 trillion), the United States ($649 billion) and Russia ($551 billion) were the largest subsidizers.
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Broadcom CEO Hock Tan is paying the price for misjudging President Donald Trump‘s resolve to “bring the Chinese to their knees,” CNBC’s Jim Cramer said Friday. Trump feels he has to “sacrifice Broadcom on the alter of Huawei” to humble China in trade negotiations, Cramer argued. Last year, Broadcom received about $900 million in revenue
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Budget deal, debt limit talks continue. Senate Majority Leader Mitch McConnell hosted a meeting between Treasury Secretary Steven Mnuchin, White House Chief of Staff Mick Mulvaney, Senate Appropriations Chair Richard Shelby, and chairs of that panel’s key subcommittees on Wednesday. After the meeting, Shelby said of a potential deal: “Did we crystalize it? No…  We’re
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Multinational corporations got some long-awaited clarity from the IRS, which issued new rules on Friday clarifying how they must compute a new international tax. The rules explain how companies should calculate a complex new tax on GILTI, or global intangible low-taxed income. The regulations finalize previous proposals that give companies some leeway to allocate only
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Actor/producer Brad Pitt accepts the PGA Visionary Award during the 26th Annual Producers Guild Of America Awards last January in Los Angeles. Getty Images Hollywood star Brad Pitt, Steve Job’s widow Laurene Powell Jobs and UK-based stock-picker Neil Woodford are all reportedly investing in a little known “cold fusion company,” the Financial Times said on
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Because the Internal Revenue Service (IRS) doesn’t automatically send out periodic account statements, it’s easy to wonder about the status of your account. True, you’ll get letters from the IRS if you have overdue amounts from a past year, or if the IRS believes you have made a mistake on your return. But that doesn’t
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Next week, the House Ways and Means Committee plans a hearing on “Ending the TCJA Tax on Houses of Worship, Charities, and Nonprofits.” While this seems alarming, it isn’t. The provision ensures neutrality between tax-exempt organizations and C corporations as it relates to employee fringe benefits. Without it, not-for-profit employers could offer benefits at a
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In this May 6, 2012, photo, a woman enters a Wells Fargo bank in New York. Cx Matiash The Great Recession has officially been over for a decade. For many Americans, there’s little reason to celebrate. Many people’s finances haven’t recovered from the recession’s blows, according to a new survey by personal finance website Bankrate.com.
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Share to facebook Share to twitter Share to linkedin Cyber-security is a hot topic at every company this year and it needs to be a board level discussion – the risk associated with cyber attack and data breaches is now clear from all the headlines.  FedEx and Maersk forecast $300M in losses based on the
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Semiconductor stocks are going to fall as chipmakers start to cut their earnings forecasts for the second half of the year, AlphaOne Capital Partners’ Dan Niles said on Thursday.  Niles started shorting semiconductor stocks this week and sold out of all is long semiconductor positions, in which he previously owned Qualcomm and Lumentum Holdings, he told CNBC’s
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