Big U.S. firms hold $2.1 trillion overseas to avoid taxes: study

WASHINGTON - The 500 largest American companies hold more than $2.1 trillion in accumulated profits offshore to avoid U.S. taxes and would collectively owe an estimated $620 billion in U.S. taxes if they repatriated the funds, according to a study released on Tuesday.

Recent Business News

Samsung Electronics struggles to find fix for smartphone woes

SEOUL - More than a year into the overhaul of its smartphone lineup, Samsung Electronics Co Ltd has yet to find a way to reverse a slide in market share or margins, clouding its growth outlook and fuelling investor impatience.

2:06am EDT

American Apparel files for bankruptcy, operations to continue

- American Apparel Inc, known as much for its sexually charged advertising and controversial founder as for its fashion offerings, filed for Chapter 11 bankruptcy protection on Monday.

Twitter appoints Jack Dorsey CEO, seeks new chairman

- Twitter Inc named Jack Dorsey as its permanent CEO but said it would look elsewhere for a chairman, seeking to allay concerns about its co-founder's dual role as head of the mobile payments company Square. | Video

Tech, Twitter, Cybersecurity 05 Oct 2015

Nelson Peltz's Trian takes $2.5 billion stake in General Electric

- Activist investor Nelson Peltz's fund has bought a $2.5 billion stake in General Electric Co, adding fresh pressure on the U.S. conglomerate to pull off its plan to shift away from finance operations toward its industrial roots. | Video

Deals, Money 05 Oct 2015

VW has no evidence against suspended top engineers: source

BERLIN - Volkswagen has not found any evidence against three top engineers suspended as part of its internal investigation into the rigging of U.S. emissions tests, a source close to the company's supervisory board told Reuters on Monday.


  • U.S.
  • Europe
  • Asia
  • Sectors

Sector Summary