John Ydstie

CEO Cook To Defend Apple Before Senate Committee Hearing

John Ydstie — Tue, 21 May 2013 08:24:00 +0000

Giant technology firm Apple is paying billions of dollars less than it should in U.S. taxes each year, according to a report by the Senate Permanent Subcommittee on Investigations. In a hearing Tuesday in Washington, D.C., Apple CEO Tim Cook will defend the company.

The subcommittee's report says Apple avoids the tax payments mainly by shifting profits to three subsidiary companies in Ireland. The investigation found Apple is taking advantage of technicalities in U.S.

Yen's Drop In Value Could Fuel Curency War

John Ydstie — Thu, 16 May 2013 08:24:00 +0000

Japan has embarked on a massive effort to stimulate its economy. Both the government and the central bank are collaborating to end a long period of stagnation and deflation. But the effects are also being felt outside Japan.

Housing Recovery Lifts Other Sectors, Too

John Ydstie — Thu, 02 May 2013 21:24:00 +0000

The government's employment report for April comes out Friday. It's an important measure of the economy's health and the advance signals have been mixed. One report this week showed layoffs falling to a five-year low, but another suggests disappointing jobs creation.

At least one sector is providing some positive news for the job market: housing.

It was only a year or so ago that housing was a big drag on the economy, and the main reason for the disappointing recovery. But that's changed. Jim O'Sullivan, chief U.S.

Regulators Warn Banks On Direct-Deposit Loans

John Ydstie — Fri, 26 Apr 2013 00:16:00 +0000

Consumer advocates call them "debt" traps. The banks that offer them call them direct-deposit advances and describe them as available funds for short-term emergencies.

But the cash advances have many of the negative characteristics of payday loans. And on Thursday, U.S. bank regulators took a step toward protecting consumers from the risks they pose.

Japan's Big Stimulus Move Shocks Globe's Market Watchers

John Ydstie — Thu, 11 Apr 2013 21:49:00 +0000

Currency traders were stunned last week by aggressive action from Japan's central bank. The Bank of Japan embarked on a bond-buying program that, by one measure, is twice the size of the extraordinary moves by Ben Bernanke and the Federal Reserve in the United States. The BOJ's move is an effort to shock the Japanese economy out of more than a decade of sluggish growth and deflation.

Jens Nordvig, global head of currency strategy at Nomura Securities, was one of many market watchers surprised by the strength of the Bank of Japan's move.