Donald Trump speaks during a campaign rally on July 20, 2024 in Grand Rapids, Michigan. (Photo by Anna Moneymaker/Getty Images) In an interview with Bloomberg Businessweek published earlier this month, Trump said that, if he wins a second term, he would push to slash the corporate tax rate: I brought the taxes down from 39% … Read more
Donald Trump reduced the corporate tax rate from 28% to 21% during his previous presidency and intends to further reduce it to 15% if elected again this year. Now, Trump proposes lowering the corporate tax rate to 15%, potentially cutting the US corporate tax rate by nearly half.In a wide-ranging interview on business and the … Read more
Shareholders at three of the world’s largest oil companies recently turned down tax transparency proposals from an activist investor. At Chevron, a proposal to publicly report the company’s earnings and tax bills in every country where it operates was defeated on May 29; 85% of votes were against the proposal. The shareholders followed recommendations from … Read more
We know that “privately, Trump has told allies that he is keenly interested in cutting corporate tax rates again,” according to The Washington Post, even as corporate profits hit near record highs in 2023. The Post also reported that “Trump’s advisers…have discussed proposals to make deeper cuts to the overall corporate tax rate, potentially to … Read more
The Cyprus government has scrapped a €1.2 billion concession for the development of the Larnaca marina and port, leading to questions about the financial viability of public contracts and the administration’s cash flow.
Donald Trump allegedly offered Big Oil executives 0 billion in tax breaks if they donated billion to his campaign. Congressional Democrats are investigating this potential quid pro quo deal. Joe Biden plans to eliminate these tax breaks for the oil and gas industry if elected. The fossil fuel industry is lobbying to maintain these tax breaks, which are set to expire next year. Some attendees at Trump’s fundraising dinner at Mar-a-Lago included executives of smaller oil companies focused on fracking and gas exporting. The event was also attended by individuals with controversial backgrounds in the oil and gas industry.
The government is currently dealing with disputes with big project contractors, including the potential termination of contracts for the Larnaca port/marina and Vassilikos gas terminal projects. These disputes have arisen due to major disagreements over costs, with some projects heading for costly legal battles. The government has also faced challenges with road construction projects, with disagreements over costs and delays. The government has inherited these issues from the previous administration and may be facing significant financial consequences as a result.
Presidents of the Republic have historically acted as mediators in disputes, trying to find compromises and solutions. However, recent instances where the president intervened in disputes involving big companies from abroad, such as Kition Ocean Holdings and Chevron, did not yield positive results. This has raised questions about the president’s role in such matters and whether ministers should be left to handle them instead.
Chevron is set to launch the sale of its remaining UK North Sea oil and gas assets, marking its exit from the basin after more than 55 years.
– Apple stock declined after Berkshire Hathaway disclosed it cut its stake by 13% in the most recent quarter.
– Warren Buffett, Berkshire’s chairman and CEO, stated that Apple is still the company’s largest holding and is “even better” than American Express or Coca-Cola.
– Buffett sold some shares of Apple because he believes corporate taxes are likely to go up in the future.
– Apple is still Berkshire Hathaway’s largest holding, but the exact breakdown of holdings will be revealed in a filing on May 15.