‘Makes their blood boil’: Democrats criticize billion-dollar companies for paying low tax rates

‘Makes their blood boil’: Democrats criticize billion-dollar companies for paying low tax rates

More than 100 US companies are paying an average effective tax rate of 1.1%, according to new data released by a top Democrat. The data, released on Thursday by Senate Finance Committee Chair Ron Wyden, a Democrat from Oregon, showed that in 2019, between 100 and 125 companies with an average net book income of … Read more

‘A clear sign that the US economy is not in a recession’: Economists react to blowout July jobs report

‘A clear sign that the US economy is not in a recession’: Economists react to blowout July jobs report

The July jobs report on Friday showed the US economy gained 528,000 jobs last month, with the unemployment rate falling to 3.5% from 3.6%. Economists polled by The Wall Street Journal had expected an addition of 258,000 jobs and unemployment staying at 3.6%. See: Jobs shocker — US adds 528,000 jobs in July and unemployment … Read more

Alibaba stock gains after earnings as company says trends are improving

Shares of Alibaba Group Holding Ltd. closed up 1.8% Thursday after the Chinese e-commerce company topped expectations with its latest financials and indicated that business trends improved as the June quarter wore on. The company posted net income of RMB22.7 billion ($3.4 billion), or RMB8.51 per American depositary share, compared with RMB45.1 billion, or RMB16.38 … Read more

Block stock drops after earnings, as Square’s parent company swings to a loss

Shares of Block Inc. fell 6% in after-hours trading Thursday after the payment-technology company swung to a loss in an earnings report that seemed to cause some controversy about whether the company actually beat or missed expectations on several key metrics. Block SQ, +1.85%, which somewhat recently changed its corporate name from Square, posted a … Read more

Scout24 Shares Rise on Raised Guidance on German Real-Estate Demand

By Ed Frankl Shares in Scout24 SE rose on Thursday after it raised its 2022 guidance, as German real-estate developments drove demand at its ImmoScout24 platform. At 0930 GMT, shares were up 4.4% at EUR60.14. The German digital marketplace increased its targets for revenue growth to 13%-15% from the upper end of previous guidance of … Read more

Peek Inside the Ritzy Real Estate of the Late Ivana Trump and with Roe v. Wade overturned, Georgia allows pregnant women to claim embryos as dependents — and it may not be the last state to do so

Hi, MarketWatchers. Don’t miss these top stories. Fed’s Mary Daly says ‘I don’t feel the pain of inflation anymore’ — here’s the full context of her remarks The San Francisco Fed president also said ‘we have to worry’ about those who can’t afford rising prices in an interview Wednesday. Here’s what she said in full. … Read more

Most US businesses grow faster in July, ISM finds, in a sign of resilient economy

The numbers: An ISM barometer of business conditions at companies such as restaurants and hotels rose to a three-month high of 56.7% in July, suggesting the economy continues to expand in the face of growing headwinds. Orders and production rose, hiring improved and intense inflationary pressures eased somewhat last month, business executives told the Institute … Read more

‘Metaverse’ dating? Tinder crypto? Not in this economy, Match CEO says

Match Group Inc. shares were pummeled Tuesday after the online-dating company’s new chief executive detailed a slowdown for its most popular product, Tinder, and decided to pause newer initiatives such as Tinder-based crypto and “metaverse” dating. Match MTCH, +4.32% reported a loss of $31.86 million, or 11 cents a share, down from a profit of … Read more

Apple follows up ‘resilient’ earnings, swift iPhone sales with debt deal that could reach $6.5 billion

Apple Inc., fresh off upbeat quarterly results tied to robust iPhone sales, rolled out a four-part bond deal on Monday to raise new debt. The new deal from Apple AAPL, -0.47% could raise up to an estimated $4 billion to $6.5 billion for the technology giant through the issuance of four series of bonds with … Read more

Big Tech survived the earnings test, but many more tech companies are picking up their pencils

Wall Street breathed a sigh of relief after Big Tech produced results that were largely not as bad as feared (except for Facebook), but the hardest part of this earnings season may arrive in the coming week. A parade of smaller tech companies in sectors that received a huge pandemic bounce that may be coming … Read more