Business

Corporate group urges officials consider Trump’s removal ‘to preserve democracy’

The head of a major U.S. business group that represents 14,000 companies including Exxon Mobil Corp, Pfizer Inc and Toyota Motor Corp urged senior U.S. officials to consider removing President Donald Trump from office after supporters of the outgoing president stormed the U.S. Capitol. National Association of Manufacturers Chief Executive Jay Timmons said Trump “incited […]

Business

USTR slams India, Italy, Turkey on digital taxes but holds off on tariffs

Digital services taxes adopted by India, Italy and Turkey discriminate against U.S. companies and are inconsistent with international tax principles, the U.S. Trade Representative’s office said on Wednesday, paving the way for potential retaliatory tariffs. USTR, releasing the findings of its “Section 301” investigations into the digital taxes, said it was not taking specific actions […]

Business

Google CEO says ‘lawlessness’ at U.S. Capitol ‘antithesis of democracy’

Alphabet and Google Chief Executive Sundar Pichai described “lawlessness and violence” at the U.S. Capitol on Wednesday over the U.S. presidential election as the “antithesis of democracy.” “Holding free and safe elections and resolving our differences peacefully are foundational to the functioning of democracy. The United States has a long and proud history of doing […]

Business

U.S. to urge firms comply with China investment ban in new guidance, sources say

The U.S. State Department plans to release as soon as Wednesday a fact sheet urging U.S. investors to comply with an executive order banning investments in alleged Chinese military companies, according to three people familiar with the matter and a copy of the document seen by Reuters. The executive order, released by the Trump administration […]

Business

Dow, S&P 500 close higher, but pro-Trump protests weigh on gains

The Dow and the S&P 500 ended higher, soaring to all-time highs on Wednesday, as investors piled into financial and industrial stocks on bets a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending. But Wall Street pared earlier gains and the Nasdaq index closed lower after swarms of protesters stormed […]

Business

Oil drillers shrug off Trump’s U.S. Arctic wildlife refuge auction

The Trump administration on Wednesday found few takers at its sale of drilling leases in a pristine Arctic wildlife refuge, with an Alaska state agency emerging as the sole bidder for most of the acreage sold. The sale, which generated around $14.4 million in high bids, marked a rejection by the oil and gas industry […]

Business

Blackstone-backed Patria could reach $1.6 billion valuation in IPO

Brazilian asset manager Patria Investments Ltd, which is backed by Blackstone Group Inc, is likely to reach a valuation of between $1 billion and $1.6 billion in its planned initial public offering on Nasdaq, Banco BTG Pactual SA said in a note to clients. Patria , which has $13 billion under management in private equity, […]