As Federal Reserve chairman, Jerome Powell oversees monetary policy and regulates banks. But members of Congress questioned him as if he were an omnipotent politician capable of addressing all sorts of issues that fell beyond the normal duties of central banking.
In December 2016, CHX filed a proposed rule change, pursuant to the Securities Exchange Act of 1934, that would allow a group, led by Chongqing Casin Enterprise Group, to acquire the exchange. The SEC on Thursday blocked the $25 million takeover due to concerns about the ability of the Chicago exchange “to ensure ongoing compliance” with ownership and voting limitations. Moreover, the Commission questioned whether “the proposed ownership structure” would allow it “to exercise sufficient oversight” of the exchange.
While President Trump campaigned on an aggressive infrastructure spending platform and has kept infrastructure on his agenda while in the White House, there are several high-profile projects which are already underway and in the pipeline across the country. These projects have been the result of government programs and private investments that seek to address the dire state of the nation's infrastructure.
How has Japan's economy remained resilient in the face of its demographic challenges? Sunday offers the answer: It's the International Day of Women and Girls in Science. Both aspects of what the world is celebrating today — women and science — are at play in Japan's economic resilience.
The intention to generate social or environmental benefit is key to impact investing. But a tax break can be an additional incentive. Among the many provisions of the Republican tax bill signed by President Trump last month is the new “Investing for Opportunities Act,” which lets investors temporarily defer taxes by investing their capital gains in distressed areas designated as “opportunity zones.”
Apple (AAPL) said it will build a second corporate campus and hire 20,000 workers in a $350 billion, five-year commitment to the U.S. economy. Apple, the world's biggest company by market capitalization, said Wednesday it will contribute $75 billion of that amount through investments in American manufacturing, planned capital expenditures and what it called a "record" tax payment after it repatriates overseas profits.
AAPL may now be joining its most famous and influential shareholder in again becoming more US-centric. The catalyst: the tax bill. The US has joined most of the rest of the world with a humble tax policy. When AAPL earns money in the EU, or Brazil, it now pays no tax penalty for its foreign subsidiary to pay a dividend to the parent. This money can now go to shareholders, or it can be invested in the US.
Combining new investments and Apple's current pace of spending with domestic suppliers and manufacturers -- an estimated $55 billion for 2018 -- Apple's direct contribution to the US economy will be more than $350 billion over the next five years, not including Apple's ongoing tax payments, the tax revenues generated from employees' wages and the sale of Apple products.
iPhone maker Apple announced today that it is making immense investments in the U.S. economy including building a new campus at an as-yet unnamed location and hiring 4,000 new workers a year for the next five years, many of whom will be employed at existing data centers.
Each day we read about amazing technology breakthroughs, particularly when it comes to artificial intelligence (AI). But if AI is so great, why are these breathtaking technological achievements not matched with soaring productivity and economic growth? Or, to paraphrase an old jibe: If the economy is so smart, why aren’t we all rich?