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June 20, 2013
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BUDGET 2013
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International
Immigration bill to reduce deficit by $175 bn in 10 years
The US immigration bill, which is awaiting passage by the Senate, will reduce the American budgetary deficit by USD 175 billion in 10 years.
Latest News
UAE, China discuss economic relations
The talks were held Tuesday between Sultan bin Saeed Al Mansouri, the UAE's minister for economy and deputy governor of Chinese Anhui province.
China may act against EU wine imports
Chinese wine producers have been squeezed by stiff competition from their strong overseas counterparts and a persistent slump in their domestic market.
Rajat Gupta seeks re-trial over insider trading case
Seth Waxman, lawyer for Gupta, told the 2nd US Circuit Court of Appeals in New York yesterday that wiretaps played for the jury were inadmissible because they amounted to hearsay evidence.
US raises concern over American firms evading taxes
Earlier in the day, the Apple CEO Tim Cook denied allegations of tax evasion.
EU summit begins today; taxation, energy to remain top on agenda
In all, officials have said that tax avoidance and evasion costs the EU around 1 trillion euros a year.
US Stocks at new all-time high on back of Fed’s reassurance
The Fed's USD 85 billion-per-month bond buying program has played a significant role in the market's rally and investors.
Senators reach deal on H-1B visa expansion plan
As a result of this agreement, the Republicans are now expected to vote in favour of the Senate immigration bill, in particular those provisions related to the H-1B visas.
iGate shares slide 9% in early trade
Shares of Nasdaq listed iGate Corp plunged over nine percent to USD 14.90 in early trade on Tuesday, after the company sacked its high profile chief executive Phaneesh Murthy.
Rajat Gupta to appeal against insider trading conviction
The US Court of Appeals for the Second Circuit in New York will hear arguments from Gupta, who was convicted last year of sharing corporate secrets and is on bail pending the appeal.
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