WASHINGTON - President Barack Obama's budget proposals will include a minimum tax of 19 percent on U.S.-based companies' future foreign earnings and a 14 percent tax on their stockpiled offshore profits, Bloomberg news said on Saturday, citing two people familiar with the budget.
Recent Top News
- The auto industry's air bag troubles deepened on Saturday as U.S. federal safety regulators said three big automakers will recall about 2.1 million older vehicles to fix defects that could cause air bags to deploy when they are not supposed to.
ATHENS - New Greek Prime Minister Alexis Tsipras, striking a conciliatory note on debt talks after a turbulent start to office, has called the European Central Bank chief to assure him that Athens was seeking an agreement.
BERLIN/HELSINKI - German Chancellor Angela Merkel ruled out a debt writedown for Greece on Saturday, and a European Central Bank policymaker threatened to cut off funding to Greek banks if Athens does not agree to renew its bailout package.
KIRKUK, Iraq - Kurdish peshmerga forces retook a small crude oil station near the northern Iraqi city of Kirkuk which Islamic State insurgents seized earlier on Saturday, but the fate of 15 employees remained unclear. | Video
- A U.S. Treasury official and a director at the New York Federal Reserve are among those who have been considered to replace two hawkish Fed policymakers, according to people familiar with the searches.
HOUSTON - Contracts for unionized U.S. refinery workers began expiring at 12:01 a.m. Eastern Time on Sunday (0401 GMT) without word from labor or refinery owners about the outcome of talks for a new national pact.
BEIJING - Authorities in China's Tibet will offer rewards up to 300,000 yuan ($48,000) for tips on "violent terror attacks", state media reported, in an effort to "promote stability" in the region beset by ethnic tensions.