Recent Business News
- Lowering interest rates around the world to boost the global economy has reached a point where it is now "quite harmful" to clients, including pension funds and insurers, BlackRock Inc Chairman and Chief Executive Officer Laurence Fink said on Wednesday.
- McDonald's Corp said it will stop reporting monthly same-store sales after June, becoming the latest major U.S. retailer to stop reporting the closely watched indicator to gauge overall spending trends and a company's financial health.
BRUSSELS - The European Commission outlined plans on Wednesday to limit how much multinational companies can reduce taxes on their European earnings through the use of creative accounting.
- Luxury jeweler Tiffany & Co reported better-than- expected quarterly sales and profit as it benefited from higher spending by tourists in Europe and growing demand for its Tiffany T line of fashion jewelry.
- Bill Gross, the widely followed investor, admitted in his June Investment Outlook on Wednesday that his bet against the German Bund market was well timed but not profitable.