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  • Xi Jinping’s Capitalist Smackdown Sparks a $1 Trillion Reckoning
    World
    Bloomberg

    Xi Jinping’s Capitalist Smackdown Sparks a $1 Trillion Reckoning

    (Bloomberg) -- Xi Jinping smiled and hinted at a policy bombshell that would soon roil stock markets from Shanghai to New York.It was mid-June, and the most powerful Chinese Communist Party leader since Mao Zedong was holding court at an after-school club for elementary students in the remote city of Xining. Acknowledging the growing pressure on students and their parents to spend time and money on private tutoring, Xi promised to ease their burden. “We must not have out-of-school tutors doing t

  • Business
    Reuters

    Takeda to record 63 bln yen provision, update Q1 results on Irish tax issue

    Takeda Pharmaceutical Co said on Monday it will record a provision of about 63 billion yen ($574.56 million) in its financial statements for the first quarter to reflect a decision by Ireland's tax appeals body relating to tax assessment received by company's unit on a break fee. Takeda said it received "a decision by the Irish Tax Appeals Commission on July 30, 2021 to uphold the Irish Revenue Commissioners' position related to the treatment of a break fee received by Shire plc in October 2014 from AbbVie Inc,". Shire Plc, which Takeda acquired in 2019, received a tax assessment from the Irish Revenue Commissioners to tax a break fee the company received from AbbVie Inc for terminating its offer to acquire Shire.

  • How GE Boosted Its Share Price by 700%
    Business
    Barrons.com

    How GE Boosted Its Share Price by 700%

    General Electric's 1-for-8 reverse stock split is effective. Its shares open for trading Monday north of $100.

  • Your retirement savings could take a hit: What you need to know about taxes
    Business
    USA TODAY

    Your retirement savings could take a hit: What you need to know about taxes

    Many investors are so focused on accumulating wealth that they neglect the second part of the equation.