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Apple to pay $38 billion in U.S. taxes on foreign cash, open new campus

Apple Inc will make about $38 billion in U.S. tax payments on its $252.3 billion in overseas cash in accordance with the tax law passed late last month, the company said on Wednesday.

Recent Business News

Rolls-Royce shares jump as commercial marine business goes on block

LONDON Rolls-Royce is considering the sale of its loss-making commercial marine business in another shake-up by Chief Executive Warren East that will streamline its activities into civil aerospace, defense and power system units.

GE's 2018 gains wiped out as worries about turnaround plan persist

Shares of General Electric Co continued its slide on Wednesday and wiped out all its gains in 2018, a day after the U.S. industrial conglomerate announced more than $11 billion in charges and hinted about a potential breakup.

1:18pm EST

Dealmaking Ferrero tycoon breaks decades of family tradition

MILAN For almost 70 years, family-owned chocolate group Ferrero shunned acquisitions, relying completely on its ability to grow on its own and dream up new products. Those days are gone.

1:39pm EST

German discounter Lidl slows U.S. expansion: paper

FRANKFURT German discount food retailer Lidl is slowing its U.S. expansion and switching focus from big-box stores to smaller formats, the Handelsblatt business daily reported, citing local real estate and political sources.

1:30pm EST

Banks expected to share tiny proportion of mammoth Saudi Aramco IPO

LONDON The banks that will advise and execute Saudi Aramco's stock market listing are expected to share a tiny proportion of the $100 billion Riyadh hopes to raise in its initial public offering, according to banking sources and industry insiders.

11:57am EST

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