The U.S. would lose 710,000 jobs and economic output would decline by 1.3 percent, or $200 billion, if tax cuts for high earners are allowed to lapse, said a report prepared for the U.S. Chamber of Commerce and other supporters of the tax breaks.
A coalition of business groups and companies including Altria Group Inc. and Xcel Energy Inc. is warning Congress that failing to extend tax breaks on investment income would make U.S. tax rates on capital gains and dividends among the highest in the industrialized world.
Wal-Mart de Mexico SAB fell the most in more than 13 years after its parent company announced an investigation into allegations that representatives in the country bribed local officials to get stores opened faster.
Tyson Foods Inc. was searching for a way to speed up Mexican approval to export chickens raised in that country in the mid-2000s. Company employees, Tyson later acknowledged to U.S. authorities, achieved this by paying off local officials.
Mattel Inc. , the world’s largest toymaker, fell the most in 17 months after fees from a lawsuit and higher personnel costs increased expenses in the second quarter and profit trailed analysts’ estimates.
A new definition of what constitutes a small business being considered by the Treasury Department is raising concerns among some closely held companies that it’s a step toward requiring them to pay corporate taxes.