Investor Dan Loeb’s decision to take a stake in FedEx Corp. is poised to heighten scrutiny of the role played by Fred Smith, who has run the airfreight company since its founding more than 40 years ago.
U.S. Defense Secretary Chuck Hagel is outlining his vision of a smaller, better-equipped military while anticipating tough choices about some multibillion-dollar weapons systems that declining Pentagon budgets may force President Barack Obama’s administration to make.
Outrage over U.S. wiretapping of Angela Merkel’s mobile phone has inspired two proposals worth considering. One is that the U.S. should quit spying on allied leaders. The second, floated by the German chancellor herself, is to add her country to the no-mutual-spying, intelligence sharing pact that the U.S. has had with its closest Anglophone allies since 1946.
The rocky debut of the insurance exchanges at the heart of President Barack Obama’s health-care law poses risks to his political agenda and the activist role for government that he has championed for his second term.
Federal tax rates on higher incomes were raised at the start of the year. Meanwhile, the Internal Revenue Service has increased its audits of wealthy taxpayers and is pressing small-business owners over unreported income. And tax collectors are pursuing would-be tax dodgers who hold Swiss and other offshore investment accounts.