French Tax on Million-Euro Salaries Won't Exempt Soccer Teams
France's revamped 75 percent super-tax on annual salaries above €1 million will apply to all companies, including soccer clubs, which were thought to be exempt.
France
Airbus Gets Biggest Order Ever from Indonesia's Lion Air
Airbus signed its biggest deal ever Monday -- an order for 234 planes worth $24 billion from Indonesian's Lion Air -- and poached one of rival Boeing's most important clients.
World Stocks Surge; Dow Breaks All-Time High
World stock markets rose Tuesday as investors applauded China's pledge to stick to economic growth targets for its economy, the world's second largest. Outgoing Premier Wen Jiabao said the government would spend what it needs to meet the target of 7.5 percent enshrined in the latest five-year development plan.
Markets Cautious Ahead of Debt Ceiling Vote
Stock markets traded cautiously on Wednesday ahead of a U.S. vote on raising the nation's borrowing limit temporarily. The House is set to vote on a motion to increase the nation's $16.4 trillion borrowing ceiling for three months.
Germany Is Bringing Home the Gold: 1,950 Tons of It
A German newspaper reports the country's central bank will repatriate parts of its massive gold reserves worth about $200 billion at current market rates from storage sites in the United States and in France.
U.S. Stock Prices Dip Ahead of Earnings Season Kickoff
U.S. stocks fell Tuesday as traders awaited the start of the corporate earnings season. Market-watchers expect the quarter's results could include many surprises because of events like Superstorm Sandy, the presidential election, and the narrowly avoided "fiscal cliff."
Taxing the Rich: Americans Have It Good, Compared to the French
Many of America's rich are complaining that top tax rates are rising in 2013. But, really, they should be glad the new rates will be so low. France is boosting its top tax rate from 48 percent to as high as 75 percent -- and driving some businesspeople and celebrities to bid their home country adieu.
Freedom from Earsplitting Ads: The CALM Act Goes Into Effect
You may not have heard about the CALM Act before, but when you witness the results of the law, which goes into effect today, you'll probably want to applaud loudly. At last, TV commercials can no longer be broadcast at a higher volume than the programs they accompany.
U.S. Stocks Open Mixed After Italy's Leader Unexpectedly Quits
Stocks are opening mixed on Wall Street after the surprise resignation of Italy's prime minister sent a jolt through European markets. The Dow Jones industrial average inched up, while the Standard & Poor's 500 index was down a fraction.
Markets Nervous as Eurozone Finance Ministers Meet on Greece
Concerns that European finance ministers will again fail to reach an agreement on handing over more bailout cash to Greece weighed on markets Monday. In addition, an election in Spain's Catalonia region that saw separatists gain ground is also adding to global investor worries.
Wall Street Back in Business After Hurricane Sandy Shutdown
The New York Stock Exchange opened on Wednesday -- because it had to open. In a bit of welcome news for fund managers, investors and even the economy, the company that operates the iconic exchange at 11 Wall Street announced it would not extend its trading shutdown to a third day.
Wall Street Watch Tuesday: Sandy Wreaks Havoc
With Hurricane Sandy approaching landfall in the Northeast, the major stock exchanges didn't want to take chances. There were no stock orders executed on Monday. There will be no trading on Tuesday, either.
French Fashion Tycoon's Threat Shakes Socialist Tax Plan
The richest man in Europe -- CEO of LVMH, owner of Louis Vuitton and Christian Dior -- has ignited a debate in Socialist-governed France about patriotism and policy by applying for dual citizenship in Belgium.
S&P Closes Over 1,400 for First Time in 3 Months
It's been a day of milestones for the stock market. Stronger corporate earnings reports and expectations that central banks will act to support the economy powered the Standard & Poor's 500 index past 1,400 for the first time in three months.
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.
Double-Dip Recession Hits Eurozone as Crisis Clouds Swirl
The eurozone has sunk back into its second recession since 2009, a Reuters poll predicted on Thursday, as the debt crisis that has ravaged the continent for over two years continues to stifle growth.
80 Is the New 65: How High Should We Boost Retirement Age?
Imagine what life would be like if we tacked 15 years onto the official retirement age -- it's not a particularly far-fetched scenario. AIG CEO Robert Benmosche has warned that Europe may have to do just that, and the U.S. will soon face a similar crisis.
U.S. Stock Futures Push Higher on Improving Jobs Numbers
U.S. stock futures are higher with the government reporting that weekly jobless claims edged downward last week, suggesting that employers may accelerate hiring this month.
U.S. Stock Futures Fall After European Voters Reject Austerity
The roiling political landscape of Europe pushed U.S. stock futures lower Monday as beleaguered voters in Greece and France rejected years of painful budget cuts. The Dow fell 46 points to 12,911. The S&P 500 slipped 5.7 points to 1,356.80. The Nasdaq fell 12 points to 2,613.50.
Recession in Spain Breeds Pessimism in Global Markets
Markets dipped Monday after official data confirmed that Spain is back in its second recession in three years. Investors had initially bid up stocks on hopes that the Fed would provide more stimulus to the U.S. economy.
Disney Theme Parks Relax Their 'No Beard' Rule
The Happiest Place on Earth isn't about to become the hairiest place on Earth, but Disney is loosening up its strict appearance rules for theme park employees: For the first time, male "cast members" will be allowed to wear beards.
Dow Rises Despite Europe's Woes
On Friday, it looked like this week would be ugly. Standard & Poor's had just downgraded the credit ratings of France and several other E.U. countries, the latest domino to fall in Europe's slow-motion economic train wreck. But at least in the U.S., the stock market has shrugged off that news.
Cautious Investors Stay Focused on Europe's Woes
Stock markets in Europe traded in fairly narrow ranges Monday as Germany's leader warned that Greece may not get its next batch of bailout cash. Chinese shares surged after authorities pledged to increase bank lending to entrepreneurs. Europe's stumbling efforts to get a handle on its debt crisis remains the focus of interest in the markets.
France's Macaron King Sets Out to Conquer America
The macaron is a filled cookie about the diameter of a half dollar coin that has become a foodie currency in its own right in recent years. It's simple in concept, but near impossible to get right -- and for the first time, Laduree, the French bakery and tearoom that made them famous is opening a U.S. boutique. So, let them eat cake!
Why the European Debt Crisis Is Far From Over
The European debt crisis is back: Portugal is in political turmoil, and may need a major bailout, and Spain may too. But the E.U.'s strong healthy are rebelling against propping up their weaker neighbors. The real issue, though, is that the E.U. hasn't yet addressed the fundamental flaw built into it at the euro's creation.
Japan's Nuke Crisis Revives Call for Safer Reactors
As people in Japan's earthquake-tsunami disaster zone deal with the additional danger of radiation from damaged nuclear reactors, nations across the globe are taking the crisis as a sign that it's time to get more aggressive in their development of safer nuclear power plants.
What U.S. Energy Policy Needs: Less Coal, More Uranium
With cleaner air and energy self-sufficiency high on America's list of priorities, our irrational dislike of nuclear power looks increasingly imprudent. China, France and the U.K. have raced ahead safely on nuclear power: It's well past time for the U.S. to start catching up.
U.S. National Debt Is Huge, but It's Not a Catastrophe
Without a doubt, this country's debt overhang needs to be chopped considerably. But does a large national debt doom a nation to economic ruin? Only if you believe that countries like Germany, France, and Japan are economic basket cases, too.