EMEA Morning Briefing : Stocks Seen Mixed Amid -2-
(marketscreener) ROME-Italians elected a right-wing coalition to lead the country, according to projected results, choosing an untested lead... Amazon, Berkshire Hathaway Could Be Among Top Payers of New Minimum Tax WASHINGTON-A handful of large companies, such as Berkshire Hathaway Inc. and Amazon.com Inc., could bear most of the burden from a 15% corporate minimum tax President Biden signed into law last month. Researchers at the University of North Carolina Tax Center analyzed securities filings to determine what companies would have paid if the tax had been in place last year. A federal judge has accepted part of a $1.2 billion settlement that commodities giant Glencore PLC entered to resolve criminal probes over its involvement in foreign corruption and market manipulation. A plea deal that Glencore's U.S. arm entered with Connecticut federal prosecutors received approval from U.S. District Judge Sarala V. Nagala at a sentencing hearing Friday in New Haven federal court, according to a spokesman for the prosecutors.
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ROME-Italians elected a right-wing coalition to lead the country, according to projected results, choosing an untested leader who will confront Europe's gathering economic downturn and energy crisis resulting from Russia's invasion of Ukraine.
Giorgia Meloni is favored to become Italy's new prime minister after her Brothers of Italy party won the biggest share of the vote in Sunday's parliamentary elections, according to projections based on counting nearly half of the votes for Italy's Senate. She would require approval from junior partners in her coalition to assume the role.
In Brexit's Wake, U.K. Still Lacks a U.S. Trade Deal
One of the big dividends of Brexit was supposed to be a U.K. trade deal with the U.S., helping offset the economic pain of putting up trade barriers with the European Union, Britain's largest trading partner.
That isn't happening soon, further adding to the woes of a U.K. economy beset by slow growth, a plummeting pound and high inflation.
Amazon, Berkshire Hathaway Could Be Among Top Payers of New Minimum Tax
WASHINGTON-A handful of large companies, such as Berkshire Hathaway Inc. and Amazon.com Inc., could bear most of the burden from a 15% corporate minimum tax President Biden signed into law last month.
Researchers at the University of North Carolina Tax Center analyzed securities filings to determine what companies would have paid if the tax had been in place last year. They found fewer than 80 publicly traded U.S. companies would have paid any corporate minimum tax in 2021, and just six-including Amazon and Warren Buffett's conglomerate-would have paid half of the estimated $32 billion in revenue the levy would have generated.
LONDON-The booming market for secondhand luxury goods is creating a dilemma for makers of high-end handbags, fashion and jewelry: Join the trend, or ignore it.
Secondhand luxury isn't new, but its popularity is surging. Steep price hikes by prestigious brands like Chanel SA are driving some luxury buyers to look for less expensive used items. Others are seizing on secondhand goods' sustainability bona fides: A used pair of designer jeans doesn't cost any more of the planet's resources to make.
A federal judge has accepted part of a $1.2 billion settlement that commodities giant Glencore PLC entered to resolve criminal probes over its involvement in foreign corruption and market manipulation.
A plea deal that Glencore's U.S. arm entered with Connecticut federal prosecutors received approval from U.S. District Judge Sarala V. Nagala at a sentencing hearing Friday in New Haven federal court, according to a spokesman for the prosecutors. Friday's proceeding focused solely on the market manipulation component of the resolution.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
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