Former Illinois U.S. congressman Mel Reynolds was found guilty in federal court on Thursday for failing to file federal income tax returns, marking the latest legal trouble for the one-time Democratic Party rising star. More »
In his eight years as German finance minister, Wolfgang Schaeuble earned a reputation in the euro zone as a feisty disciplinarian, insisting on painful austerity measures for debt-ridden countries like Greece. More »
A senior member of Germany's pro-business Free Democrats (FDP), a potential coalition partner for Chancellor Angela Merkel, generally welcomed French President Emmanuel Macron's European Union speech but criticized his proposal to create a joint euro zone budg... More »
French President Emmanuel Macron on Tuesday reaffirmed that he wanted the euro zone to have its own budget and finance minister, adding that it was key to ensure the stability of the single currency union and to weather economic shocks. More »
South Africa's tax agency said on Monday it will launch legal proceedings against KPMG for reputational damage caused when the auditor released details of a confidential report it had compiled for the tax office. More »
India could be forced to cut spending on key infrastructure such as railways and highways as lower-than-expected tax collections and sluggish growth have upset the government's budget calculations, two finance ministry officials said. More »
France's economic recovery is strong enough for the government to be able to cut spending and the deficit without growth being affected, the budget and finance ministers said on Monday. More »
U.S. Treasury Secretary Steven Mnuchin said on Thursday that the Trump administration's upcoming tax plan will not be aimed at lowering income taxes for the wealthiest Americans. More »
Norwegians will go to the polls for a final day of voting on Monday in a parliamentary election that remains too close to call between Prime Minister Erna Solberg's center-right bloc and the center-left opposition headed by the Labour Party. More »
U.S. President Donald Trump said on Saturday that he will ask the Republican-controlled Congress to further speed up its efforts to overhaul the U.S. tax code, citing the potential impact of Hurricane Irma as a reason to hasten reforms. More »
France, Germany, Italy and Spain want digital multinationals like Amazon and Google to be taxed in Europe based on their revenues, rather than only profits as now, their finance ministers said in a joint letter. More »
Bayliss and Jeff Mason More »
Amazon.com Inc (AMZN.O) said on Thursday it would build a $5 billion second headquarters in North America, kicking off a competition between cities and states to offer tax cuts and incentives that could bring 50,000 new jobs. More »
Kenyan opposition leader Raila Odinga said on Tuesday his coalition would not participate in a re-run of a presidential election proposed for Oct. 17 unless they are given "legal and constitutional" guarantees. More »
Hurricane Harvey devastated Texas, but could bring some fiscal order to Washington where Republicans and Democrats will need to put political differences aside in order to approve spending to repair the damage from flooding in and around Houston. More »
When the U.S. Congress returns from summer vacation on Tuesday, for the first time in years gutting Obamacare will not be the main order of business on the healthcare agenda. More »
Lebanon has begun reforms to repair its fragile economy after years of paralysis in decision-making but is under pressure to do more to prevent its rising debt spinning out of control. More »
Democrats in the U.S. Congress wield little clout nowadays, but they will likely have plenty of influence on the looming issue of the U.S. debt ceiling and party leaders are considering whether they should try to convert that advantage into bargaining power on... More »
Britain will not rule out the possibility that the European Union may retain oversight of customs controls at UK borders after it leaves the bloc, as the country seeks ways to keep unhindered access to EU markets following Brexit. More »
Urged by his Yale University classmates to resign as treasury secretary following President Donald Trump's response to a white nationalist protest, Steven Mnuchin said on Saturday he would stay in office and that Trump "in no way, shape or form" equates neo-Na... More »
With U.S. Congress members focused during their August recess on finding ways to lower the corporate tax rate, industry groups and other sectors of society are gearing up to fight proposed changes to the personal income tax. More »
South Korean police on Monday raided a management office for residences of Samsung Electronics Chairman Lee Kun-hee and his family over alleged misappropriation of company funds used to pay for interior renovations, they said. More »
German Chancellor and leader of the conservative Christian Democratic Union party CDU Angela Merkel and German Finance Minister Wolfgang Schaeuble (R) attend the CDU party convention in Essen, Germany, December 7, 2016. Wolfgang Schaeuble has won his parliamen... More »
Senate Majority Leader Mitch McConnell speaks at a Harden County Republican party fundraiser in Elizabethtown, Kentucky, U.S., June 30, 2017. The U.S. Senate will delay its consideration of healthcare legislation while Arizona Republican Senator John McCain re... More »
U.S. Senator Susan Collins (R-ME) talks to reporters as she leaves a meeting of the Senate Republican caucus to unveiling of Senate Republicans’ revamped proposal to replace Obamacare health care legislation at the U.S. Capitol in Washington, U.S. July 13, 201... More »
Two major U.S. health insurance groups on Friday called on Senate Republican leader Mitch McConnell to drop from a healthcare bill a provision proposed by Senator Ted Cruz that allows insurers to offer stripped-down, low-cost healthcare plans. More »
Earl Simmons, also known as the rapper DMX, exits the U.S. Federal Court in Manhattan following his presentment on income tax evasion charges in New York City, U.S., July 14, 2017. Rap artist and Hollywood actor DMX pleaded not guilty on Friday to federal char... More »
French President Emmanuel Macron (R Rear) and German Chancellor Angela Merkel (L Rear), stand as from L-R, German Interior Minister Thomas de Maiziere, French Minister of Europe and Foreign Affairs Jean-Yves Le Drian, European Commission Vice-President and EU ... More »
Indonesia’s Finance Minister Sri Mulyani Indrawati speaks during the International Tax Conference in Jakarta, Indonesia, July 12, 2017. Indonesia will sharply lift its tax collection and work with other nations to develop new rules to tackle the “aggressive” t... More »
Senate Majority Leader Senator Mitch McConnell (R-KY) attends a new conference following party policy lunch meeting at the U.S. Capitol in Washington, U.S. July 11, 2017. U.S. Senate Republicans said Tuesday they will seek to bring their healthcare overhaul to... More »
FILE PHOTO: An aerial view shows the skyline and lakefront of Chicago, Illinois, August 14, 2014. REUTERS/Jim Young Illinois’ first budget after two years is filled with partial outlines to address its debt-ridden pension system and unpaid bill backlog — signs... More »
U.S. Senator John McCain speaks during a news conference in Kabul, Afghanistan July 4, 2017. REUTERS/Mohammad Ismail Republicans expressed increasing pessimism on Sunday about the prospects for the healthcare bill in the U.S. Senate aimed at rolling back Obama... More »
Businessmen walk on the esplanade of La Defense financial and business district in Puteaux, near Paris, France June 16, 2017. REUTERS/Gonzalo Fuentes The French government on Friday pledged to remove some of the charges banks pay in France and make sure they a... More »
FILE PHOTO: Bruce Rauner speaks to the media in Washington December 5, 2014. REUTERS/Larry Downing/File Photo Illinois ended its historic budget drought on Thursday after the House of Representatives enacted the state’s first complete spending plan since 2015 ... More »
FILE PHOTO: A general view of the joint session of the General Assembly in the House Chambers of the Illinois State Capitol in Springfield, Illinois February 1, 2012. REUTERS/Sarah Conard/File Photo Illinois’ first full-year budget since 2015 became law on Thu... More »
FILE PHOTO: A general view of the joint session of the General Assembly in the House Chambers of the Illinois State Capitol in Springfield, Illinois February 1, 2012. REUTERS/Sarah Conard/File Photo Seven U.S. states are still without budgets, nearly a week in... More »
FILE PHOTO: Illinois Gov-elect Bruce Rauner speaks to the media after a meeting with U.S. President Barack Obama and other Governor-elects from seven U.S. states at the White House in Washington December 5, 2014. REUTERS/Larry Downing/File Photo Even if Illino... More »
A man reads a newspaper as a pedestrian walks past, inside a building at a business district in Tokyo June 19, 2014. REUTERS/Yuya Shino Japan’s corporate tax revenue fell to 10.3 trillion yen ($90 billion) for the last fiscal year, the lowest since fiscal 2012... More »
FILE PHOTO: Illinois Gov-elect Bruce Rauner speaks to the media after a meeting with U.S. President Barack Obama and other Governor-elects from seven U.S. states at the White House in Washington December 5, 2014. REUTERS/Larry Downing/File Photo The fate of a ... More »
FILE PHOTO: A salesman arranges gold ornaments, on a display board, inside a jewellery showroom during Akshaya Tritiya, a major gold buying festival, in Kochi, India April 28, 2017. REUTERS/Sivaram V/File Photo A hike in taxes on gold sales in India could stok... More »
FILE PHOTO — Maine Governor Paul LePage speaks at the 23rd Annual Energy Trade & Technology Conference in Boston, Massachusetts, November 13, 2015. REUTERS/Gretchen Ertl/File Photo New Jersey and Maine ended partial government shutdowns just in time for the Fo... More »
Illinois Governor Bruce Rauner announced on Tuesday his veto of a $5 billion income tax rate hike that was the lynchpin of a newly passed bipartisan budget package designed to end the state’s record-setting fiscal impasse, he announced via social media. More »
Illinois’ Democratic-controlled House of Representatives passed big, permanent income-tax rate increases on Sunday with the help of some Republican votes as the cash-strapped state scrambled to piece together a budget and revenue plan to stave off a bond ratin... More »
U.S. President Donald Trump listens as South Korean President Moon Jae-in delivers a statement from the Rose Garden after meetings at the White House in Washington, U.S. June 30, 2017. REUTERS/Jim Bourg U.S. President Donald Trump urged Republican senators in ... More »
An Illinois judge on Friday halted implementation of a measure that would have made Chicago the latest U.S. city to tax sweetened drinks, saying a lawsuit filed by retailers to block it must run its course. More »
FILE PHOTO: The logo of the Commonwealth Bank of Australia (CBA) is displayed outside a branch in Sydney, Australia, March 21, 2016. REUTERS/David Gray/File Photo Surprise taxes levied on Australia’s banking sector are frightening off potential foreign investo... More »
Senator Susan Collins (R-ME) speaks to reporters after Senate Republicans unveiled their version of legislation that would replace Obamacare on Capitol Hill in Washington, U.S., June 22, 2017. REUTERS/Joshua Roberts Republican Senator Susan Collins of Maine sa... More »
FILE PHOTO: An Americans for Prosperity banner is seen during an event in Manchester, New Hampshire, July 22, 2015. REUTERS/Dominick Reuter Officials with the conservative U.S. political network overseen by the Koch brothers say they are unhappy with the healt... More »
Senator Rand Paul (R-KY) speaks to reporters after Senate Republicans unveiled their version of legislation that would replace Obamacare on Capitol Hill in Washington, U.S., June 22, 2017. REUTERS/Joshua Roberts U.S. Republican Senator Rand Paul said on Sunday... More »
U.S. Senate Minority Leader Chuck Schumer (D-NY) arrives to talk to the media on the president’s FY2018 budget proposal on Capitol Hill in Washington, U.S., May 23, 2017. REUTERS/Yuri Gripas U.S. Senate Democratic Leader Chuck Schumer said on Sunday that he se... More »
U.S. President Donald Trump delivers remarks as he hosts a Congressional picnic event, accompanied by First Lady Melania Trump, at the White House in Washington, U.S., June 22, 2017. REUTERS/Carlos Barria President Donald Trump made calls to fellow Republicans... More »
FILE PHOTO – Senator Dean Heller (R-NV) arrives at the Senate Judiciary Committee Privacy, Technology and the Law Subcommittee hearing on The Surveillance Transparency Act of 2013 on Capitol Hill in Washington, November 13, 2013. REUTERS/Yuri Gripas U.S. Repub... More »
The logo of National Australia Bank adorns their headquarters building in central Sydney, Australia June 22, 2017. REUTERS/David Gray A second Australian state on Friday said it was open to charging its own bank tax, raising fears the federal government has op... More »
U.S. Capitol is seen after the House approved a bill to repeal major parts of Obamacare and replace it with a Republican healthcare plan in Washington, U.S., May 4, 2017. REUTERS/Yuri Gripas U.S. Senate Republicans on Thursday unveiled legislation that would r... More »
Speaker of the House Paul Ryan (R-WI) speaks after Senate Republicans unveiled their version of legislation that would replace Obamacare on Capitol Hill in Washington, U.S., June 22, 2017. REUTERS/Joshua Roberts After weeks of discussions behind closed doors, ... More »
U.S. President Donald Trump takes the stage for a rally at the U.S. Cellular Center in Cedar Rapids, Iowa, U.S. June 21, 2017. REUTERS/Scott Morgan U.S. President Donald Trump said he supported a Republican healthcare bill to replace Obamacare that was unveile... More »
U.S. President Donald Trump walks from Maine One as he returns to the White House in Washington, U.S., June 16, 2017. REUTERS/Joshua Roberts President Donald Trump and Republican leaders in Congress will soon confront a complex challenge for tax reform: how to... More »
Football Soccer – Latvia vs Portugal – 2018 World Cup Qualifying European Zone – Group B – Skonto Stadium, Riga, Latvia – June 9, 2017 Portugal’s Cristiano Ronaldo gestures Reuters / Kacper Pempel Soccer star Cristiano Ronaldo denied on Tuesday ever hiding any... More »
President Donald Trump on Tuesday said that the Republican push to repeal Obamacare may require additional money for healthcare, but he did not specify how much more funding would be needed or how it might be used. More »
FILE PHOTO: South Korean President Moon Jae-in delivers a speech during a ceremony marking Korean Memorial Day at the National Cemetery in Seoul, South Korea, June 6, 2017. REUTERS/Kim Hong-Ji/File Photo South Korea’s President Moon Jae-in said on Monday the o... More »
A man walks past the U.S. Capitol building at sunset in Washington, U.S. May 17, 2017. REUTERS/Zach Gibson The U.S. Congress may be headed for a reckoning with the federal debt limit within weeks, thanks to wealthy Americans and corporations deferring tax paym... More »
FILE PHOTO – A man arrives at the Uber offices in Queens, New York, U.S. on February 2, 2017. REUTERS/Brendan McDermid/File Photo Car service Uber is using a gap in EU and UK tax rules to avoid incurring sales tax on the booking fees it charges drivers in Brit... More »
U.S. President Donald Trump walks out to annouce proposed reforms to the U.S. air traffic control system during an event at the White House in Washington, DC, U.S. June 5, 2017. REUTERS/Jonathan Ernst President Donald Trump will huddle with congressional leade... More »
Seattle’s City Council voted on Monday to levy a special tax on sodas and other sugary beverages sold to consumers, becoming the latest of several local government bodies across the country to take such action for the sake of public health. More »
U.S. Vice President Mike Pence attends a healthcare listening session with Health and Human Services (HHS) Secretary Tom Price at the White House in Washington, DC, U.S. June 5, 2017. REUTERS/Joshua Roberts The White House is hoping to kick-start its stalled l... More »
Saudi Arabia will impose a special tax on tobacco and sugary drinks on June 10, as part of a series of steps towards closing a budget deficit caused by low oil prices. More »
An electronic patients chart is shown on the wall to a hospital room in San Diego, California April 17, 2017. REUTERS/Mike Blake A bill passed by U.S. House Republicans would cause 23 million people to lose healthcare coverage by 2026 while de-stabilizing heal... More »
Senate Majority Leader Mitch McConnell (R-KY) speaks to Reuters during an interview in Washington, U.S., May 24, 2017. REUTERS/Joshua Roberts Mitch McConnell, the top Republican in the U.S. Senate, says he could live without the drama surrounding President Don... More »
U.S. Treasury Secretary Steven Mnuchin discusses the Trump administration’s budget plan during the Peterson Foundation’s 2017 Fiscal Summit in Washington, U.S., May 23, 2017. REUTERS/Jim Bourg The U.S. Treasury is reviewing licenses for Boeing Co and Airbus to... More »
Senate Majority Leader Mitch McConnell (R-KY) speaks to Reuters during an interview in Washington, U.S., May 24, 2017. REUTERS/Joshua Roberts U.S. Senate Majority Leader Mitch McConnell said on Wednesday he does not yet know how Republicans will amass the vote... More »
Greek Finance Minister Euclid Tsakalotos attends a eurozone finance ministers meeting in Brussels, Belgium May 22, 2017. REUTERS/Francois Lenoir Euro zone finance ministers failed to agree on debt relief for Greece with the International Monetary Fund on Monda... More »
Canada’s Finance Minister Bill Morneau (R) speaks with Bundesbank President Jens Weidmann during the G7 for Financial ministers meeting in the southern Italian city of Bari, Italy May 12, 2017. REUTERS/Alessandro Bianchi An economic recovery and robust outlook... More »
Chinese auto sales fell in April by the steepest in almost two years, the automakers’ association said on Thursday, as a tax increase on small-engine cars from the beginning of the year discouraged buyers. More »
U.S. President Donald Trump speaks to reporters after his meeting with Russian Foreign Minister Sergey Lavrov at the White House in Washington, U.S., May 10, 2017. REUTERS/Kevin Lamarque Not even a week after the Trump administration and Congress rekindled opt... More »
U.S. National Economic Director Gary Cohn (L) and Treasury Secretary Steven Mnuchin end their breifing after unveiling the Trump administration’s tax reform proposal in the White House briefing room in Washington, U.S, April 26, 2017. REUTERS/Kevin Lamarque Pr... More »
An old man in need receives vegetable soup in a plastic cup to take away from the soup kitchen ‘Kana’ in a poor district of the city of Dortmund, western Germany, April 7, 2017. Picture taken April 7, 2017. REUTERS/Wolfgang Rattay For all its economic success,... More »
U.S. Senator Ron Wyden (D-OR) speaks at a news conference on U.S. President Trump’s administration’s first 100 days and healthcare, on Capitol Hill in Washington, U.S., April 26, 2017. REUTERS/Yuri Gripas The conservative House Freedom Caucus came out in suppo... More »
U.S. Vice President Mike Pence waves as he walks to the steps of Air Force Two as he depart Sydney, Australia, April 24, 2017. REUTERS/David Gray U.S. Vice President Mike Pence has cut short the final leg of his Asia trip to race back to Washington, where the ... More »
U.S. President Donald Trump looks on as Treasury Secretary Steve Mnuchin speaks at a signing ceremony at the Treasury Department in Washington, U.S., April 21, 2017. REUTERS/Aaron P. Bernstein President Donald Trump put pressure on Democrats on Sunday as U.S. ... More »
FILE PHOTO: U.S. President Donald Trump looks up while hosting a House and Senate leadership lunch at the White House in Washington, U.S. March 1, 2017. REUTERS/Kevin Lamarque/File Photo President Donald Trump said on Sunday he expected Mexico to pay for the w... More »
FILE PHOTO: Protesters demonstrate against U.S. President Donald Trump and his plans to end Obamacare outside the White House in Washington, U.S., March 23, 2017. REUTERS/Kevin Lamarque/File Photo President Donald Trump, striving to make good on a top campaign... More »
President Donald Trump said on Friday there is no “rush” to get a vote on Republican healthcare legislation in the U.S. Congress before he reaches his 100th day in office next weekend. More »
Clocks are seen during the performance ”tck tck tck” by Global Campaign for Climate Action at the Barcelona Climate Change Talks, November 4, 2009. REUTERS/Albert Gea Can you count on your Social Security benefits when retirement rolls around? More »
A security personnel stands next to International Monetary Fund logo at IMF headquarters in Washington, U.S., April 19, 2017. REUTERS/Yuri Gripas World finance leaders are gathering on U.S. President Donald Trump’s home turf on Thursday to try to nudge his sti... More »
An emergency sign points to the entrance to Scripps Memorial Hospital in La Jolla, California, U.S. March 23, 2017. REUTERS/Mike Blake The Trump administration on Thursday issued a final rule that will shorten the Obamacare enrollment period and give insurers ... More »
Influential bond investor Bill Gross on Thursday stepped up his warning to investors not to be tempted into buying equities, high-yield junk bonds and other asset classes, given the possibility that U.S. President Donald Trump might fail to enact policies that... More »
German Finance Minister Wolfgang Schaeuble before the weekly cabinet meeting in Berlin, Germany, April 5, 2017. REUTERS/Fabrizio Bensch German Finance Minister Wolfgang Schaeuble said in an interview published on Wednesday he would propose moderate tax cuts fo... More »
A souvenir license plate is seen outside the New York Stock Exchange in Manhattan, New York City, U.S., December 21, 2016. REUTERS/Andrew Kelly President Donald Trump told a group of chief executives on Tuesday that his administration was revamping the Wall St... More »
U.S. President Donald Trump arrives for the swearing in ceremony of Judge Neil Gorsuch as an Associate Supreme Court Justice in the Rose Garden of the White House in Washington, U.S., April 10, 2017. REUTERS/Joshua Roberts President Donald Trump said tax refor... More »
U.S. President Donald Trump speaks during a joint news conference with Jordan’s King Abdullah (not pictured) in the Rose Garden after their meeting at the White House in Washington, U.S., April 5, 2017. REUTERS/Yuri Gripas U.S. President Donald Trump said on W... More »
Australian Federal Treasurer Scott Morrison delivers an address to a banking and wealth summit, in Sydney, Australia, April 6, 2017. AAP/Dan Himbrechts/via REUTERS Australian Treasurer Scott Morrison said on Thursday the country expected to claw back A$2.9 bil... More »
Brazil’s President Michel Temer listens to questions from the media during LAAD, the biggest military industry expo in Latin America in Rio de Janeiro, Brazil, April 4, 2017. REUTERS/Pilar Olivares Brazil’s President Michel Temer would veto clauses of a bill t... More »
FILE PHOTO: U.S. House Ways and Means Committee Chairman Representative Kevin Brady (R-TX) arrives at a House of Representatives conference meeting on Capitol Hill in Washington, U.S. April 4, 2017. REUTERS/Eric Thayer The tax oversight committee in the U.S. H... More »
U.S. House Majority Leader Kevin McCarthy (R-CA) departs a health care meeting at the U.S. Capitol in Washington, U.S. April 4, 2017. REUTERS/Eric Thayer Deep divisions cut short Republican hopes for a quick revival of Obamacare replacement legislation on Wedn... More »
Credit Suisse logo is pictured on their office in Warsaw Poland, March 15, 2017. REUTERS/Kacper Pempel Credit Suisse (CSGN.S) has taken out adverts in British Sunday newspapers stressing a zero-tolerance policy on tax evasion, as the Swiss bank tries to limit ... More »
File photo: A stands outside Fannie Mae headquarters in Washington February 21, 2014. REUTERS/Kevin Lamarque U.S. mortgage finance giants Fannie Mae (FNMA.PK) and Freddie Mac (FMCC.PK) may write down $21 billion of tax-related assets if there is a deep cut in ... More »
A pedestrian walks past the U.S. Capitol building , on Capitol Hill in Washington, U.S., March 24, 2017. REUTERS/Jim Bourg Tax reform is up next for our Attention Deficit Disorder Republican government, which just rushed through a chaotic, ugly battle to refor... More »
U.S. House Speaker Paul Ryan (R-WI) speaks during his news conference after Republicans pulled the American Health Care Act bill to repeal and replace the Affordable Care Act act known as Obamacare, prior to a vote on Capitol Hill in Washington, U.S. March 24,... More »
FILE PHOTO: House Freedom Caucus Chairman U.S. Representative Mark Meadows (R-NC) speaks to reporters after meeting with his caucus members about their votes on a potential repeal of Obamacare on Capitol Hill in Washington, U.S., March 23, 2017. REUTERS/Jonath... More »
Speaker of the House Paul Ryan and Office of Management and Budget director Mick Mulvaney arrive for a meeting about the American Health Care Act on Capitol Hill in Washington, D.C., U.S. March 23, 2017. REUTERS/Aaron P. Bernstein U.S. President Donald Trump w... More »
