What coporations pay in taxes
Corporations are paying the lowest level of taxes in four decades. Last year companies paid taxes of just 12.1 percent on their U.S. profits, the lowest share since at least 1972 and far lower than the 25.6 percent they paid on average from 1987 to 2008.
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Cuts at American Airlines
American Airlines, which filed for bankruptcy in November, wants to cut 13,000 workers, or 16 percent of its workforce. The company also seeks to terminate pension plans and reduce medical benefits for employees and retirees. Union representatives have vowed to fight the cuts.
The New York Times
Office rents in Beijing
Office space now costs more in Beijing than it does in New York. Rents have soared in Beijing over the past two years, making it the fifth most expensive city in the world for commercial space, surpassing New York. Hong Kong remains the most expensive, followed by London, Tokyo, and Moscow.
Financial Times
Former banker loses his knighthood
The former head of Royal Bank of Scotland has been stripped of his knighthood. Fred Goodwin, who received the honor in 2004 for “services to banking,” has been roundly criticized for risky decisions he made in the run-up to the financial crisis, which led to RBS receiving a $74 billion government bailout.
BBCNews.com
Amazon's new business plan
Amazon plans to open its first brick-and-mortar retail store in Seattle later this year. The store, which will feature pricier merchandise like tablet computers, will be a test run to see if physical locations might be profitable for the online retailer.
The Washington Post
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The Taliban wages war on high-speed internetTHE EXPLAINER A new push to cut nationwide access to the digital world is taking Afghanistan back to the isolationist extremes of decades past
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The US and Colombia renew their feud over the drug warIn the Spotlight The US has accused Colombia of failing in its drug-fighting efforts
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‘The problem isn’t solved by simply swapping out the faces on screen’Instant Opinion Opinion, comment and editorials of the day
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The bottom linefeature Sedentary habits keep rising; A new home for Twinkies; Taco Bell's new hit; Companies stretch the workweek; Women's wages still fall short
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The bottom line
feature Where to stash your cash; Facebook's tax refund; The value of old phones; The wealth of America's megabanks; Grateful alumni
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The bottom line
feature High cellphone taxes; Companies shore up pension funds; The bite of high gas prices; More dads stay home; Americans' scarce savings; Clorox sales hit a peak
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The bottom line
feature Taxi drivers with college degrees; Morgan Stanley's revealing nicknames; Sleep deprivation and lost productivity; A retreat for Barnes & Noble; Signs of a stabilizing economy
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The bottom line
feature Companies cut spending because of fiscal cliff; Administrative bloat and tuition costs; Market for new and existing homes improves; Annual federal deficit as share of GDP decreases; Federal rules for contracts get flouted
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The bottom line
feature No-growth small businesses; Swift sales for Taylor's new album; Predicting doctors' costs; Airlines face shortfall in qualified pilots; Will Japan slip into recession?
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The bottom line
feature Apple's corporate tax rate; A housing market still in the tank; Boeing's Dreamliner earns rave reviews; Billions owed in child support; Goldman Sachs trims its ranks
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The bottom line
feature No new jobs in August for small business; Lowest corn harvest in 17 years; Louboutin wins battle over red soles; The growing American lower class; U.S.'s competitive ranking drops; The expanding wealth gap