Bloomberg Mexico will cut the tax rate paid by companies on the proceeds of initial public offerings to 10 percent as part of a broad-ranging plan to boost public offerings and spur growth in the financial system. Finance Minister Carlos Urzua announced the measure at an event led by President Andres Manuel Lopez Obrador and Banco de Mexico Governor Alejandro ...

Bloomberg Skyworks Solutions Inc, a key Apple Inc supplier, cut sales and profit forecasts. Fiscal first-quarter revenue will be about $970 million, down from prior guidance of between $1 billion and $1.02 billion. Earnings, excluding certain items, will be $1.81 to $1.84 a share, versus a previous forecast of $1.91, the company said. Chief Executive Officer Liam Griffin blamed the ...

Bloomberg Fiat Chrysler Automobiles NV is nearing a settlement with the US Justice Department that would end a two-year criminal investigation into whether it knowingly sold diesel vehicles that violated clean-air rules, according to two people familiar with the matter. The resolution would include a financial penalty in line with Fiat Chrysler’s guidance to investors, one of the people said. ...

Bloomberg Growth in Mercedes-Benz car deliveries tumbled to the lowest in a decade last year in a swift reversal from double-digit gains after sales in Europe and North America declined. Daimler AG’s luxury brand delivered 2.31 million cars worldwide in 2018, a rise of just 0.9 percent almost entirely driven by China. The small uptick probably was still enough to ...

Bloomberg Union Pacific Corp surged the most since 2009 after hiring a protege of railroading legend Hunter Harrison to guide the company’s shift to a new efficiency strategy. Jim Vena, 60, will become chief operating officer on January 14 and oversee the implementation of precision sche- duled railroading, a system pioneered by Harrison and adopted by Union Pacific late last ...

Bloomberg International Business Machines Corp took another step towards bringing the world of quantum computing to commercial applications — and CEO Ginni Rometty sees real results coming as soon as 2021. “We’re probably in a two- to five-year time frame that you’ll actually start to see commercial businesses doing real commercial applications,” Rometty said in an interview on Bloomberg TV. ...

President Donald Trump has said that he can declare a national emergency and order his border wall to be built. He’s wrong. The US Constitution doesn’t contain any national emergency provision that would allow the president to spend money for purposes not allocated by Congress. And it’s clearer than clear that Congress not only hasn’t authorized money for a wall ...

A slowing economy and relatively high prices have been highlighted as chief culprits behind the slump in demand for Apple Inc.’s iPhones in China. There’s a third factor that’s been overlooked: the end of easy money. Apple last week cut its quarterly revenue forecast for the first time in almost two decades, blaming weak sales in Asia’s largest economy. Cheaper ...

Samsung Electronics Co. missed analyst estimates for fourth-quarter operating profit by 22 percent, the most in two years. That shortfall may be as much a function of sell-side analysts’ financial modeling as Samsung’s inability to deliver stronger earnings. Buy-siders, for example, have been selling down the stock since the middle of the third quarter, an indication that they saw tough ...

It took Italy’s populists just eight minutes to renege on one of their flagship stances. The coalition government gave its go-ahead to a bank bailout, saying it is willing to recapitalise Banca Carige, a troubled mid-sized lender, if needed. The plan smacks of hypocrisy. For years, the Five Star Movement has accused its political opponents of using public money to ...