How U.S. Treasury’s tax loophole mistake saves companies billions each year
As the U.S. economy crumbled in early 2009, President Barack Obama offered a plan that he said would save American jobs: a crackdown on corporate tax loopholes that encourage companies to send profits abroad to avoid paying billions of dollars in U.S. taxes each year.
http://feeds.reuters.com/~r/reuters/businessNews/~3/5_P7eEidJKQ/story01.htm
Pascua-Lama reactivation to take 1-2 years or more
According Chile’s environmental regulator, Barrick’s suspended Pascua-Lama gold project will likely be reactivated in 1 to 2 years at the earliest, given the infrastructure that needs to be built to avoid water pollution.
http://feeds.reuters.com/~r/reuters/businessNews/~3/6piJ-gx7OgE/story01.htm
Sony hires Morgan Stanley, Citi to gauge spin-off option
CNBC reports, Sony has tapped Morgan Stanley and Citigroup to help sound out options for its entertainment business. Billionaire hedge fund investor Daniel Loeb has called on Sony to spin off its lucrative U.S-based entertainment arm, which includes one of Hollywood’s top film studios and a leading music label.
http://feeds.reuters.com/~r/reuters/businessNews/~3/HuMGy6sAM3c/story01.htm
U.S. May auto sales shake off disappointing April
he U.S. auto industry is expected to report sales growth of more than 6 percent in May, shaking off disappointing results in the previous month as consumers still headed to dealer lots to buy new cars and trucks.
http://feeds.reuters.com/~r/reuters/businessNews/~3/0C66d3u-268/story01.htm
Global investors pile into stocks, still favor Japan
A Reuters polls showed that Global investors were more upbeat on equities this month than at any time since early 2011, confident that liquidity will remain ample even though the Federal Reserve has started a debate on when to scale back stimulus,
http://feeds.reuters.com/~r/reuters/businessNews/~3/ZnSJwR7nwng/story01.htm