Tax

Ireland could join Britain in EU departure lounge

6 Feb 2017

Dublin’s unequivocally pro-Brussels stance may be tested if politics unmoors it from key trading partners like the UK and U.S. A tough Brexit deal, along with an inflated EU budget bill caused by tax inversions, could raise tricky questions about Ireland’s true interests.

Viewsroom: The cost of jingoism

2 Feb 2017

President Trump's trade-tariff threats and his temporary immigration ban risk undermining business-friendly policies like deregulation and tax cuts. Meanwhile, he has nominated a Supreme Court justice. And Under Armour takes center stage in the battle for shareholder rights.

Infrastructure builds Gary Cohn’s White House role

2 Feb 2017

The former Goldman president is drafting a plan to build roads and smart grids, which may be more doable than tax reform. His strong presence and chutzpah make him a Trump favorite. Fixing bridges and airports would solidify his leadership in economic policy over other aides.

Trump’s America First drive hits a wall

26 Jan 2017

Taxing imports from Mexico is the administration's latest idea to finance a barrier on the southern border. The plan resembles a border adjustment tax favored by congressional GOPers. It could generate plenty of money, but American consumers - not Mexico - would pay the bill.

Viewsroom: Trump’s borderline tax ideas

26 Jan 2017

Two competing tariff ideas from President Trump and congressional Republicans bring merits but mostly unforeseen risks. Meanwhile, any cut in the corporate tax rate will benefit hapless Yahoo and its Asian holdings. Plus, why it pays to bet against Davos Man's thinking.

Breakdown: Border tariff vs. border-adjustment tax

25 Jan 2017

Donald Trump wants to hit firms that outsource with a simple levy on imports. GOPers in Congress have pitched a more complex idea built into a corporate-tax overhaul, which might more reliably offset the effects of lower tax rates. The plans create different winners and losers.

Tax reform could strip the “L” from LBO

24 Jan 2017

Many companies love the idea, espoused by President Donald Trump and Republicans, of slashing corporate tax rates. But one quid pro quo, ending the deductibility of interest payments, would spike one of private equity's most potent weapons – especially if interest rates go up.

How much could Yahoo gain from tax cuts?

23 Jan 2017

Breakingviews calculates Altaba, the Asian investment rump, could surge in value.

Yahoo may get good Alibaba news without searching

23 Jan 2017

Even as its Verizon deal hangs in the balance, U.S. corporate tax rates could be cut. That would eliminate the main reason CEO Marissa Mayer dithered over a $37 bln stake in the Chinese e-commerce site. Breakingviews calculates a potential 20 pct uplift in Yahoo's stock value.

Calm words won’t stop bankers leaving London

20 Jan 2017

The City is a big source of UK tax revenue and the European Union's main capital market. Both sides have good reasons for a sensible post-Brexit agreement on financial services. Unless they first extend the timetable, banks will not wait for a deal before moving staff.

Mnuchin has his work cut out on art of persuasion

19 Jan 2017

The U.S. Treasury nominee was grilled at a Senate hearing about using offshore havens and his chairmanship of a bank that Democrats called a foreclosure machine. He parried critics well enough on the day but to sell a tax overhaul to lawmakers will demand a much stronger pitch.

Beijing lobs trade grenade into Trump’s court

11 Jan 2017

China is imposing punitive tariffs on imports of a U.S. animal feed just days before the president-elect takes office. Trump has already talked tough about taxing imports from the Middle Kingdom. Retaliation risks escalating into a trade war that neither side would win.

Beware cracks in Trump’s infrastructure plan

11 Jan 2017

Two of the president-elect's advisers have drafted a superficially appealing outline, but tax credits involved are giveaways to businesses and investors. The assumptions are fanciful, too. While new ideas are welcome, spurring $1 trln of funding demands a bigger government role.

Toyota tantrum may mark peak Twitter-Trump

5 Jan 2017

The president-elect got his facts wrong tweet-threatening tariffs if the carmaker sells Mexican-made Corollas in the US. Hence the stock's limited reaction. A contrasting crash in Constellation Brands shares shows investors starting to focus on more concrete cross-border issues.

Breakingviews predicts a shaken-up world in 2017

3 Jan 2017

After the upheavals of 2016, governments, companies and investors face unfamiliar terrain. Once-unthinkable scenarios, good or bad, now seem possible. From the U.S. economy to European elections, from M&A to magic mushrooms, our financial insights offer a guide to the year ahead.

Breakingviews predicts a shaken-up world in 2017

3 Jan 2017

After the upheavals of 2016, governments, companies and investors face unfamiliar terrain. Once-unthinkable scenarios, good or bad, now seem possible. From the U.S. economy to European elections, from M&A to magic mushrooms, our financial insights offer a guide to the year ahead.

U.S. company cash deluge will lift only some boats

28 Dec 2016

Slashing corporate tax rates may break the dam on $2.5 trln booked overseas. The actual amount repatriated could be less than half that, however. And while CEOs and politicians talk about more jobs and factories, it's best to brace for a flood of buybacks, dividends and deals.

Mnuchin’s first job: get own finances in order

30 Nov 2016

Trump's choice for Treasury has made millions on Wall Street. Unlike his boss, Steven Mnuchin will have to produce his tax returns to win congressional approval, a step that has tripped up past nominees. Mnuchin's wealth and potential use of tax loopholes could be problematic.

Irish lack ammo in corporation tax battle

22 Nov 2016

Theresa May and Donald Trump’s plans to slash UK and U.S. corporation tax rates are ominous for Ireland. Cutting its headline rate further is toxic politically and would reduce a key source of revenue. It leaves Dublin reliant on EU access as competition for investment grows.

Britain’s brave new world hits post-Brexit reality

21 Nov 2016

Prime Minister Theresa May wants capitalism to work for the little guy. But in a speech to UK business she softened ideas like putting workers on boards, while promising low corporate taxes. Pressure to rein in the deficit and migration leaves less room for policy innovation.