Procter & Gamble's CEO is taking Corporate America's case for a lower tax rate to U.S. lawmakers today, also calling for an end to taxation of foreign-earned profits.
Multinational companies say the top 35 percent corporate tax rate hamstrings them competitively against foreign-based rivals, most of whom are subject to far lower rates.
HP Enterprise Services today announced FCC, a Spain-based multinational public services company, has signed a seven-yeat technology services agreement with Hewlett-Packard Servicios España, S.L. The contract is valued at $300 million.
With this agreement, HP will provide data center services and end-user workplace management for the entire FCC organization, which has a presence in 54 countries. FCC’s core businesses are environmental services and water management, construction of large infrastructure, cement production and renewable energy production.
The agreement is intended to transform FCC’s technology infrastructure to advance the company’s ability to compete internationally.
GE Capital, Franchise Finance announced today that it is providing $15.3 million in financing to a large Hardee’s® franchisee, Paradigm Investment Group, LLC. The credit facility includes a $10.3 million term loan and a $5 million development line of credit.
GE's GE Transportation has announced a Letter of Intent (LOI) with China's Ministry of Railways valued at $1.4 billion, including $350 million for export in locomotives, locomotive sub-assembly kits, service support and railway signaling systems.
These exports have the potential to sustain or create approximately 2,000 high-tech manufacturing jobs in the U.S.
Southwest Airlines's CEO said Thursday he would be comfortable operating three different aircraft types. Southwest is the largest 737 customer with a fleet of almost 550, and will acquire Boeing's smaller 717 plane when it buys AirTran Holdings Inc. (AAI), a deal seen closing in the second quarter.
This move intensifies pressure on Boeing Co. to decide whether to revamp its best-selling 737 or replace it with an all-new plane.
Morgan Stanley said its fourth-quarter earnings rose 35 percent on record revenue from its brokerage, the world’s biggest. Net income rose to $836 million, or 41 cents a share, from $617 million, or 29 cents, a year earlier. Earnings from continuing operations, excluding a 17-cent gain on the sale of a stake in China International Capital Corp. and a tax gain of about 6 cents, were 20 cents a share.
The revenues and retail brokerage profits were higher than expected, validating the bank's strategy of bolstering businesses that are less threatened by tougher regulation after the financial crisis.
Sales of existing U.S. homes jumped 12.3% in December over November's levels, the National Association of Realtors said. December's existing-home sales rose to a seasonally-adjusted annualized rate of 5.28 million.
This provides an encouraging end to the worst year since 1997, as the collapse in house prices and a wave of foreclosures depressed activity over the 12-month period.
UAL Corporation (NASDAQ:UAUA0, the parent of United Airlines, and US Airways (NYSE:LCC) are in talks to merge, in a potential deal that would create one of the world’s largest airlines, people briefed on the matter told the New York Times DealBook on Wednesday. United and US Airways are deep in their merger discussions, though a transaction is not expected to be announced for at least several weeks.
Terms of the deal could not be learned. One issue being worked on is the management structure of the combined company. With both leisure and business travel down steeply, many analysts have argued that the United States still has too many airlines chasing too few passengers.
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