Obama plans 19 percent tax on U.S. companies' foreign earnings

WASHINGTON - President Barack Obama's fiscal 2016 budget proposes a 19 percent tax on U.S. companies future foreign earnings and a one-time 14 percent tax on roughly $2 trillion of profits being held offshore, the White House said on Sunday.

Recent Top News

Islamic State says it has beheaded second Japanese hostage Goto

TOKYO - Islamic State militants said they had beheaded a second Japanese hostage, journalist Kenji Goto, prompting Prime Minister Shinzo Abe to vow to step up humanitarian aid to the group's opponents in the Middle East and help bring his killers to justice. | Video

World, Japan 10:35am EST

Exclusive: Some charities to refuse money from U.S. financier accused in sex case

NEW YORK - Some charities that have received money from U.S. financier Jeffrey Epstein said they are reviewing their relationships with him or will decline to accept any future gifts from him in the wake of recent allegations he forced an underage girl to have sex with Britain's Prince Andrew and other powerful men.

10:59am EST

Pro-democracy protesters back in Hong Kong, no violence

HONG KONG - Thousands of pro-democracy protesters returned to the streets of Hong Kong on Sunday in the first large-scale rally since demonstrations rocked the global financial hub late last year. | Video

9:53am EST

Boko Haram attacks northeast Nigeria's main city: witnesses

MAIDUGURI, Nigeria - Islamist insurgents attacked the outskirts of northeast Nigeria's main city Maiduguri on Sunday, engaging in a gun battle with soldiers that killed at least eight people, witnesses and a security source said.

World, Africa 6:37am EST

At least 1,375 Iraqis killed in January, most of them civilians: U.N.

BAGHDAD - Fighting and other violence in Iraq killed at least 1,375 people including 790 civilians in January, the United Nations said on Sunday.

World, United Nations 4:18am EST

California suffers dry January, prolonging devastating drought

LOS ANGELES - California has experienced one of the driest Januarys on record, and the lack of rain during a time of year when the weather is usually wet indicates the state is likely headed for a fourth straight year of drought, officials said.


Blast targeting bus near Shi'ite shrine in Damascus kills six

DAMASCUS - A bomb tore apart a bus thought to be carrying Lebanese Shi'ite Muslim pilgrims in Damascus on Sunday, killing at least six people and wounding 19 in a rare attack at the center of the Syrian capital, a Reuters witness and local media said.