By Lewis Jackson SYDNEY (Reuters) – PwC Australia’s chief executive apologised profusely to senators on Thursday for the leak of confidential tax documents, as he was grilled about the involvement of overseas partners in plans to win work from U.S. technology giants and other companies. The “big four” firm has come under fire for months, …
PwC Australia chief faces senate fury over tax leak scandal Read More »
(Reuters) -Ericsson shares were volatile on Thursday, defying indications for a sharp fall after the Swedish telecom gear maker overnight announced a $2.9-billion impairment related to its acquisition of cloud communication firm Vonage last year. Traders said investors were focusing on the company’s operational results, which were in line with market expectations. JPMorgan pointed to …
Ericsson shares volatile after results, $2.9 billion charge Read More »
LONDON (Reuters) – Holders of defaulted debt issued by Venezuela and its state oil company said they made two filings in New York on Wednesday to validate an August agreement designed to “toll”, or pause, the statute of limitations on claims. Venezuela defaulted on roughly $60 billion worth of its international bonds in 2017. Its …
Venezuela bondholders file claim to New York court amid tolling agreement Read More »
By Sabrina Valle and Arathy Somasekhar HOUSTON (Reuters) -Exxon Mobil agreed to buy U.S. rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion that would make it the biggest producer in the largest U.S. oilfield and secure a decade of low-cost production. The deal, valued at $253 a share, combines the largest …
Exxon secures lead in top US oilfield with $60 billion buy of shale rival Pioneer Read More »
WASHINGTON (Reuters) – U.S. Senator Elizabeth Warren, a Democrat on the Senate Banking panel, said on Wednesday she was concerned that Exxon Mobil’s agreement to buy U.S. rival Pioneer Natural Resources would raise costs and should be probed by regulators. “Oil company profiteering hits American consumers right in the wallet — and I’m concerned that …
US Senator Warren concerned Exxon’s plan to buy Pioneer will raise costs Read More »
By Mrinalika Roy (Reuters) – Exxon Mobil’s mega $60 billion deal for shale rival Pioneer Natural Resources could be a catalyst that will drive further consolidation in the U.S. oil and gas industry, analysts said, as they zeroed in on a handful of likely targets. Dealmaking in the U.S. oil and gas patch has picked …
Exxon deal puts spotlight on M&A targets but heightened scrutiny a dampener Read More »
By Stephen Nellis (Reuters) -Microsoft said on Wednesday the U.S. Internal Revenue Service (IRS) in September notified the company that it is seeking an additional tax payment of $28.9 billion, plus penalties and interest for tax years from 2004 to 2013. Microsoft said the IRS notices relate to an ongoing dispute between the company and …
Microsoft says US has asked for $28.9 billion in audit dispute Read More »
By Diane Bartz, Jeff Mason and Douglas Gillison WASHINGTON (Reuters) -The Biden administration took another shot at unpopular junk fees on Wednesday by proposing that businesses be required to disclose mandatory fees up front and instructing banks not to impose excessive charges for basic information such as account balances. The battle against junk fees is …
Biden administration takes aim at junk fees across the economy Read More »
By Sinéad Carew and Shashwat Chauhan (Reuters) – Wall Street’s major indexes closed higher after Wednesday’s choppy session with the release of minutes from the U.S. Federal Reserve’s last meeting showing caution among policy makers that helped fuel investor hopes that rates would stay steady. Fed officials pointed to uncertainties around the economy, oil prices …
Wall Street advances as bond yields fall, investors digest Fed minutes Read More »
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of Boston President Susan Collins said Wednesday while the odds of the economy escaping a recession have grown, it’s possible the central bank is not done with interest rate hikes aimed at bringing inflation back to its target. “I expect we’ll need to hold …
Fed’s Collins says central bank may have to hike again if data calls for it Read More »
