Business

Walgreens Free to Become Swiss, but Should Have to Give Up Its US Corporate Citizenship

Walgreens Free to Become Swiss, but Should Have to Give Up Its US Corporate Citizenship
Dozens of big U.S. corporations are considering leaving the United States in order to reduce their tax bills. But they’ll be leaving the country only on paper. They’ll still do as much business in the U.S. as they were doing before.
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Red Cross: How We Spent Sandy Money Is a ‘Trade Secret’

Red Cross: How We Spent Sandy Money Is a ‘Trade Secret’
Just how badly does the American Red Cross want to keep secret how it raised and spent over $300 million after Hurricane Sandy?
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Revealed: Wall Street's Plan for Global Financial Deregulation

Revealed: Wall Street's Plan for Global Financial Deregulation
WikiLeaks published a previously tightly-held and secretive draft of a trade document on Thursday that, if enacted, would give the world's financial powers an even more dominant position to control the global economy by avoiding regulations and public accountability.
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Starbucks Cost for Scholarship Fund: $0. It's Mostly Funded by Federal Aid

 Starbucks Cost for Scholarship Fund: $0. It's Mostly Funded by Federal Aid
It turns out Starbucks isn't contributing any upfront scholarship money to an online college degree program it introduced this week.
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Why is Chiquita Lobbying Against a 9/11 Victims Bill?

Why is Chiquita Lobbying Against a 9/11 Victims Bill?
Banana giant Chiquita is aggressively lobbying against a 9/11 victims bill that would make it easier to sue financial backers of terrorist groups.
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High and Dry: Treasury Defends Rules on Banks, Marijuana Sellers

High and Dry: Treasury Defends Rules on Banks, Marijuana Sellers
Treasury Secretary Jack Lew on Tuesday defended the Obama administration's guidelines to banks conducting transactions with legal marijuana sellers as congressional Republicans questioned whether the guidance amounts to tacit federal approval of a drug illegal in most states. The Justice and Treasury departments issued a roadmap in February that would allow the new businesses to make payroll, save money and pay taxes, a move that enables the legalized marijuana industry to operate in Colorado and Washington state.
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Donna Cassata
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Google's Self-Driving Cars Mastering City Street Navigation

Google's Self-Driving Cars Mastering City Street Navigation
Google says that cars it has programmed to drive themselves have started to master the navigation of city streets and the challenges they bring, from jaywalkers to weaving bicyclists — a critical milestone for any commercially available self-driving car technology. Despite the progress over the past year, the cars have plenty of learning to do before 2017, when the Silicon Valley tech giant hopes to get the technology to the public.
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Justin Pritchard
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Exxon CEO Nets 3% Raise, Now Earns $28.1M Per Year

Exxon CEO Nets 3% Raise, Now Earns $28.1M Per Year
The CEO of Exxon Mobil Corp. received compensation worth $28.1 million last year, a 3 percent increase over the previous year, according to an Associated Press analysis of a company regulatory filing. Most of Rex W. Tillerson's compensation was in the form of stock awards, which the largest U.S. oil company valued at $21.3 million when they were granted.
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AP
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Sen Rand Paul Says Caterpillar Deserves 'an Award' for Dodging $2.4B in Taxes

Sen Rand Paul Says Caterpillar Deserves 'an Award' for Dodging $2.4B in Taxes
Testifying before the Senate Permanent Subcommittee on Investigations, representatives of Caterpillar, Inc. answered questions pertaining to a report that suggests the industrial giant has dodged $2.4 billion in taxes over the past decade. Amazingly, the investigation’s discoveries split the subcommittee along partisan lines. Democrats disapproved of the exploitation of tax havens while Republicans applauded the company for its diligence. Even more amazing, Sen. Rand Paul had the day's best quote.
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Chaz Bolte
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Loan Wars: High-Cost Lender Targeted by Federal Probe

Loan Wars: High-Cost Lender Targeted by Federal Probe
World Acceptance Corp., one of the largest high-cost installment lenders in the United States, disclosed late last week that it is the target of an investigation by the federal Consumer Financial Protection Bureau. Reports show that the company's loans are deceptively expensive and often trap low-income borrowers in a cycle of debt.
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Paul Kiel
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