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Obama: partisan battles in Washington holding back US economy

Mon, 20 May 2013 00:00:00 -0700

The Guardian - May. 20 (News) - President says US must get beyond 'short-term tactical thinking' and gives highly personal commencement address in Atlanta President Barack Obama complained on Sunday that partisan battles in Washington are holding back stronger US economic growth as he tried to recover from one of the most difficult weeks of his presidency. On a trip to Atlanta, Obama did not specifically mention the three controversies that engulfed his administration last week and raised questions as to how much of his second-term agenda he will be able to achieve. His message was clear when he told Democratic donors that an American economic revival is being held back by a "tendency in Washington to put politics ahead of policy, to put the next election ahead of the next generation, and that mindset is what we need to change." Obama's appearance in Atlanta came as he seeks to regain his footing from one of his worst weeks since taking office in early 2009. His Internal Revenue Service was found to have targeted his ...

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Apple's Web of Tax Shelters Saved It Billions, Panel Finds

Mon, 20 May 2013 00:00:00 -0700

New York Times - May. 20 (News) - New York TimesApple's Web of Tax Shelters Saved It Billions, Panel FindsNew York TimesWASHINGTON — Even as Apple became the nation's most profitable technology company, it avoided billions in taxes in the United States and around the world through a web of subsidiaries so complex it spanned continents and went beyond anything most ...Apple skirts US taxes, panel findsLos Angeles TimesSenators to query Apple on tax sheltersSan Francisco ChronicleApple Avoided Taxes on Overseas Billions, Senate Panel FindsWall Street JournalNew York Daily News -The Atlantic Wire -PC Magazineall 158 news articles »

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Apple CEO Cook to Propose Tax Reform for Offshore Cash

Sun, 19 May 2013 00:00:00 -0700

Bloomberg - By Adam Satariano - May. 19 (News) - Apple is facing U.S. government scrutiny after Cook unveiled a plan last month to return $100 billion in cash to shareholders via dividends and buybacks through 2015. Rather than using cash overseas that will be taxed, Apple is borrowing money for the payout, saving as much as $9.2 billion in taxes,

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China Housing Bubble Cools, But Prices Still Higher

Sun, 19 May 2013 00:00:00 -0700

Forbes - By Kenneth Rapoza, Contributor - May. 19 (News Analysis) - China's property market cooled a bit in April, but home prices are still on the rise, the National Bureau of Statistics said Saturday.

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At I.R.S., Unprepared Office Seemed Unclear About the Rules

Sat, 18 May 2013 00:00:00 -0700

New York Times - By By NICHOLAS CONFESSORE, DAVID KOCIENIEWSKI, MICHAEL LUO - May. 18 (News Analysis) - During the summer of 2010, the dozen or so accountants and tax agents of Group 7822 of the Internal Revenue Service office in Cincinnati got a directive from their manager. A growing number of organizations identifying themselves as part of the Tea Party had begun applying for tax exemptions, the manager said, advising the workers to be on the lookout for them and other groups planning to get involved in elections.

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Mountain of Petroleum Coke From Oil Sands Rises in Detroit

Sat, 18 May 2013 00:00:00 -0700

New York Times - By By IAN AUSTEN - May. 18 (Special Report) - WINDSOR, Ontario — Assumption Park gives residents of this city lovely views of the Ambassador Bridge and the Detroit skyline. Lately they’ve been treated to another sight: a three-story pile of petroleum coke covering an entire city block on the other s

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Obama appoints Daniel Werfel as acting head of IRS

Fri, 17 May 2013 00:00:00 -0700

Washington Post - By Zachary A. Goldfarb - May. 17 (News Report) - President Obama will appoint senior budget aide Daniel I. Werfel as the acting commissioner of the Internal Revenue Service, as that agency manages a scandal stemming from its targeting of conservative ...

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Some in Congress want changes in military law as a result of sex scandals

Thu, 16 May 2013 00:00:00 -0700

Washington Post - By Craig Whitlock - May. 16 (News Report) - Members of Congress said they are so angry about the crescendo of sex-crime scandals in the armed forces that they are considering fundamental changes to military law and other measures that the Pentagon has resisted for years. ...

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Acting director of IRS resigns amid furor over targeting of conservative groups

Thu, 16 May 2013 00:00:00 -0700

Washington Post - By Zachary A. Goldfarb, Juliet Eilperin - May. 16 (News Report) - President Obama on Wednesday demanded and accepted the resignation of the acting commissioner of the Internal Revenue Service, Steven T. Miller, as part of a multi-pronged effort to quell controversies that threaten to dominate his second term. ...

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Everything Is Rigged, Continued: EU Raids Oil Companies in Price-Fixing Probe

Thu, 16 May 2013 00:00:00 -0700

Rolling Stone - By Matt Taibbi - May. 16 (News Report) - According to numerous reports, the European Commission regulators yesterday raided the offices of oil companies in London, the Netherlands and Norway as part of an investigation into possible price-rigging in the oil markets. The targeted companies include BP, Shell and the Norweigan company Statoil. The Guardian explains that officials believe that oil companies colluded to manipulate pricing data:

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Cisco Thrives On U.S. Strength And A Steadily Improving Global Economy

Thu, 16 May 2013 00:00:00 -0700

Forbes - By Agustino Fontevecchia, Forbes Staff - May. 16 (News Report) - Cisco posted third quarter earnings after the bell on Wednesday, beating estimates and delivering a ninth consecutive quarter of “record” revenues. Shares in the large networking and communications firm surged more than 5% in post-market trading.

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Horses as Farm Equipment

Thu, 16 May 2013 00:00:00 -0700

New York Times - By By ANNE RAVER - May. 16 (Special Report) - Horses as Farm Equipment

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On Capitol Hill, Holder to face questions on AP phone records, IRS scandal