Companies Spurned by Supreme Court on $1 Billion Michigan Tax Change

May 22, 2017, 7:05 PM GMT+5:30 The U.S. Supreme Court refused to question a Michigan tax change that companies including IBM Corp. and Procter & Gamble Co. say will hit them retroactively with a $1 billion bill. The companies argued that the change violates the U.S. Constitution and the Multistate Tax Compact, a 50-year-old agreement among More...

by Loknath Das | Published 6 hours ago
By Loknath Das On Monday, May 22nd, 2017
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Sub-Saharan Africa’s foreign-currency shortages are subsiding but will take time to overcome

While foreign currency shortages in Sub-Saharan Africa stemming from lower oil and commodity prices are easing, it will take time for sovereigns, banks and non-financial companies to restore their financial health, More...

By Loknath Das On Monday, May 22nd, 2017
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Sub-Saharan Africa’s foreign-currency shortages are subsiding but will take time to overcome

Photo: Reuters While foreign currency shortages in Sub-Saharan Africa stemming from lower oil and commodity prices are easing, it will take time for sovereigns, banks and non-financial companies to restore their More...

By Loknath Das On Saturday, May 13th, 2017
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South Africa’s rand poses big problems for currency traders

  High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our T&Cs and Copyright Policy for more detail. Email More...

By Loknath Das On Thursday, May 4th, 2017
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UPDATE 2-Nigeria central bank lifts currency ban for small imports

May 4 Nigeria’s central bank has lifted a ban on currency allocation for importers bringing in goods worth up to $20,000 per quarter, it said in a circular seen by Reuters on Thursday. The bank in 2015 placed More...

By Loknath Das On Tuesday, April 25th, 2017
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Beijing promises currency reforms, but on its timetable

China has given assurances on currency convertibility and easier access to its financial markets, while also warning the US not to carry through on threats to erect trade barriers. The messages were delivered by More...

By Loknath Das On Monday, April 10th, 2017
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GBP INR Exchange Rate Predicted to Slide if UK Wage Squeeze Continues

As well as being devalued by falling PMIs this week, the Pound has also fallen against the Indian Rupee on recent trade balance figures. The previous trade deficit was revised up to -2.98bn; this was worsened with More...

By Loknath Das On Saturday, April 8th, 2017
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Currency misalignment gains stature in Trump trade plans with China

President Donald Trump promised to label China a currency manipulator on his first day in office, but after 77 days, his administration is touting a new term: “currency misalignment.”   An administration More...

By subhadip On Monday, December 12th, 2016
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UK petrol prices could rise by 3p a litre after Opec oil deal

Households face further pressure from rising inflation as experts predicted a surge in petrol prices following an agreement by oil producers to cut global output. The cost of petrol is close to rising above £1.20 More...

By subhadip On Monday, November 7th, 2016
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FTSE 100 gains £28bn on hopes of Clinton win in US election

  The FTSE 100 has joined other world stock markets in surging after the FBI halted its latest investigation into Hillary Clinton’s use of emails. London’s premier share index closed 1.7%, or 113 More...