Apple's Low Tax Rate Not Our Fault, Ireland Says
Ireland says it's not to blame for Apple's low global tax payments and that other countries are responsible for the tax rate paid by the company.
EU
Eurozone Joblessness Rises to a Record 12%
Unemployment across the 17 European Union countries that use the euro has struck 12 percent for the first time since the currency was launched in 1999, official figures show.
Greek Debt Crisis Fix May Cost Central Banks up to 100 Billion Euros
European policymakers are working on "last chance" options to bring Greece's debts down and keep it in the euro zone, with the ECB and national central banks looking at taking significant losses on the value of their bond holdings, officials said.
Greek Default Sets Record: No Problem, Says Bernanke!
On Friday, Greece reached a deal to "restructure" its national debt downward by about $133 billion. That's the biggest sovereign restructuring in world history. But don't worry. According to Fed Chairman Ben Bernanke, it's no big deal for the U.S.
The Financial Landscape: Is Italy the Next Greece?
As the eurozone sovereign debt crisis continues, focus is shifting to Italy as the next potential victim. But for worries closer to home, consider this: $37 billion in U.S. government benefits designed to help people through the downturn will expire by the end of 2011, leaving a hole twice that size in the economy.
Renting Relics: An Offbeat Fix for Greek Debt Woes
Greece is in debt, in trouble, and its people are rebelling against austerity measures. But it's not without resources: What could the government in Athens get if it leased the Parthenon? Or naming rights to the Acropolis? Sacrilege, perhaps -- but when you really need the money...
The Financial Landscape: Gas Is Falling; Euro is Failing
Even before the International Energy Agency and the White House announced they were releasing billions of gallons or oil from fuel reserves, gas prices were falling. In the past two weeks, a gallon is down more than 11 cents. Also falling -- hopes for the euro, and the outlook for U.S. Treasury bonds.
The Financial Landscape: Big Pharma Wins; So Does Greece
It's a good day to be a drugmaker after two pro-business Supreme Court rulings favored the industry. And it's an even better day for those who are counting on the EU bailing out Greece. But the folks at Google may want to search for "defense lawyers" -- they may be seeing subpoenas shortly.
The Financial Landscape: SEC Fines JPM Over CDOs
The news across the financial world is good for unions, which will find organizing a bit easier; adequate for Greece, which will find getting bailed out a bit easier, and bitter for JPMorgan which had to accept a $153.6 million SEC fine for misleading investors about a mortgage securities transaction.
Internet Rivalry: Microsoft Accuses Google of Antitrust Activity
In its first government complaint against a rival, Microsoft has accused Google of antitrust behavior in Europe. The European Commission is investigating the search giant after smaller websites alleged that Google was unfairly burying them in search results.
European Commission Approves Intel Acquisition of McAfee
The European Commission on Wednesday approved Intel's $7.68 billion acquisition of security-software company McAfee. Regulators had been concerned that the deal would exclude competing software from working with Intel processors, but Intel agreed to maintain interoperability.
Investors May Need Better Reasons to Buy Stocks
Given all that transpired globally over the Thanksgiving weekend, the idea of holding risky assets like stocks should give investors heartburn. Perhaps a strong Black Friday weekend and holiday selling season will draw traders' gazes, but that's no sure shot.
Ireland Deal: Euro-Politics Plays a Major Role
Investors should stay focused on the dynamics within European politics that shaped the rescue. Other indebted economies -- like Spain, Portugal and Italy -- could find themselves in a similar situation, after all. And politics will again guide market moves.