President Trump’s tax reforms have paved the way for some of America’s biggest companies to start moving the enormous piles of cash they have been storing overseas back into the country.
Firms like Cisco, which announced last week that it plans to repatriate around $67 billion in foreign profits during 2018, and Apple, which intends to bring back hundreds of billions of dollars, are taking advantage of Trump’s tax reforms, which have slashed the cost of paying tax on accumulated foreign income to just 15.5% for cash, payable over 8 years. Read more “Why Are US Corporate Giants Moving $3.1 Trillion of Assets Held Overseas Back Onshore?”
Davos, it is said, doesn’t know quite what to make of Donald Trump. On the one hand, there is outrage, stemming from the POTUS’ decision to pull out of the Paris Climate Agreement, his outspoken views on immigration, and his deeply unpopular and controversial domestic policies. Read more “Resilient Economy, Weak Dollar & A Burgeoning Relationship; A Good Time To Swap Pounds For Dollars?”
This never-ending saga – one that has infuriated the POTUS, Donald Trump, who had received assurances this investigation would conclude before thanksgiving last year – rumbles on.
According to the New York Daily News, Special Counsel Robert Mueller has turned his attention to a number of suspicious financial transactions that took place at key moments before and after the US election of 2016. Read more “Investigation Into Russian Interference In US Elections Switches To Money Transfers”