Business Latest News: New U.S. Trade Chief Focused on India, Striking Deals
New U.S. trade chief focused on India, striking deals
New U.S. Trade Representative Michael Froman said he expected growing trade problems with India to be a major early focus of his tenure, but stopped short of saying the United States should cut off benefits for that country.
Swiss government puts off bid to settle U.S. tax dispute
A spokesman of the Swiss government has said that Switzerland will consider ways to allow its banks to hand over information to U.S. authorities later than previously indicated. The Swiss government is under pressure to find a way to save its banks from criminal charges for helping wealthy Americans evade tax after parliament blocked a bill on that would have allowed the banks to sidestep strict secrecy laws.
Investors hit hard as Apple bonds tank
Investors in Apple’s record U.S. $17 billion bond deal have suffered some of the biggest losses in recent investment-grade new issues, with about $760 million wiped off the value of longer-maturing Apple securities that they bought just weeks ago.