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The bottom line

What coporations pay in taxes; Cuts at American Airlines; Office rents in Beijing; Former banker loses his knighthood; Amazon's new business plan

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.
The Wall Street Journal

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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