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With businesses split on U.S. border tax, wider reform looks shaky

WASHINGTON Major U.S. corporations are going to war in Washington over a Republican 'border adjustment' tax proposal meant to boost exports over imports, with lawmakers in Congress coming under pressure from some of the nation's biggest employers.

Recent Business News

Global funds trim stocks, wary on French elections

LONDON Global investors trimmed their equities exposure in February, with many arguing that markets had become too complacent about risks stemming from Europe's election calendar after a recent blistering stock market rally.

7:05am EST

Saudi Aramco to buy $7 billion stake in Petronas' RAPID refinery project

KUALA LUMPUR Saudi oil giant Aramco will buy an equity stake in Malaysian firm Petronas' major refining and petrochemical project, the companies said on Tuesday, pumping in $7 billion in its biggest downstream investment outside the kingdom.

Takata plea, compensation deal clears path to potential sale

DETROIT Japan's Takata Corp removed a major obstacle to its potential sale or restructuring, pleading guilty on Monday in a U.S. federal court to a felony charge as part of a $1 billion settlement that included compensation funds for automakers and victims of its faulty airbag inflators.

5:49am EST

SAP CEO McDermott overtakes Daimler's Zetsche in 2016 pay

FRANKFURT SAP Chief Executive Bill McDermott's total pay last year jumped to 15.6 million euros ($16.5 million), overtaking that of Daimler CEO Dieter Zetsche, Germany's best-paid company executive in 2015.

7:01am EST

China says concerned by Europe's latest steel anti-dumping duties

BEIJING China's Commerce Ministry said on Tuesday it was "seriously concerned" by what it said was Europe's increasing protectionism in the steel industry after regulators slapped anti-dumping duties on certain types of plate steel imports from the world's top producer.

6:20am EST

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