Microsoft Corp. will appeal a decision by the US Internal Revenue Service that the software maker owes at least $28.9 billion in taxes related to how it allocated income and expenses among global subsidiaries from 2004 to 2013.
Biden administration officials are leaving open the possibility of re-freezing $6 billion in Iranian oil money that was released as part of a prisoner swap amid growing bipartisan criticism after Iran-backed Hamas militants attacked Israel.
The US formally designated Niger’s military uprising a coup — a decision that will halt counter-terrorism cooperation and $500 million in aid — while maintaining its largest military presence in Africa outside of Djibouti.
Federal Reserve Bank of Boston President Susan Collins said officials are taking a more patient approach to monetary policy now that rates are at or near their peak, though further rate increases are still possible.
Women working for Japan’s top banks earn little more than half the amount of their male colleagues in a stark example of the country’s entrenched gender divide.
Oversea-Chinese Banking Corp.’s private bank plans to add headcount to its China business, joining HSBC Holdings Plc and DBS Group Holdings Ltd. in staying bullish on the world’s second-largest economy despite a marked slowdown.
Alameda Research co-Chief Executive Officer Caroline Ellison took the stand for a second day on Wednesday in the trial of Sam Bankman-Fried, co-founder of crypto exchange FTX. Ellison, who also had an on-and-off romantic relationship with Bankman-Fried, is the most important of the government’s three star witnesses.
Stocks extended their rebound from oversold levels as traders shrugged off a hotter-than-estimated inflation reading to focus on less hawkish comments from Federal Reserve speakers. Oil fell after an early-week surge.
Republicans picked Representative Steve Scalise as their nominee to become House speaker, yet opposition from a group of hardliners threatens to delay a final vote and leave the chamber without a leader.
Birkenstock’s seemingly ubiquitous $130 leather sandals have helped the German family behind the brand build one of the biggest footwear fortunes on the planet.
