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- $The Nike logo is shown on a store in Miami Beach, Fla. on Aug. 8, 2017. An agreement to weed out global tax havens and force multinational corporations, among them Apple and Nike, to pay a minimum tax has been weakened by loopholes and will raise only a fraction of the revenue that was envisioned, a tax watchdog backed by the European Union has warned. (AP Photo/Alan Diaz, File)$
The Nike logo is shown on a store in Miami Beach, Fla. on Aug. 8, 2017. An agreement to weed out global tax havens and force multinational corporations, among them Apple and Nike, to pay a minimum tax has been weakened by loopholes and will raise only a fraction of the revenue that was envisioned, a tax watchdog backed by the European Union has warned. (AP Photo/Alan Diaz, File)

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Deal to force multinational companies to pay a 15% minimum tax is marred by loopholes, watchdog says
By PAUL WISEMAN - AP Economics Writer
Sun,10/22/23-6:38AM , 97 Reads
WASHINGTON (AP) — An ambitious 2021 agreement by more than 140 countries and territories to weed out tax havens and force multinational corporations to pay a minimum tax has been weakened by loopholes and will raise only a fraction of the revenue that was envisioned, a tax watchdog backed by the European Union has warned.
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A worker prepares materials and construction parts at the Boeing Interiors Responsibility Center in North Charleston, S.C., on May 31, 2023. On Wednesday, the Commerce Department issues its second of three estimates of how the U.S. economy performed in the second quarter of 2023.(Gavin McIntyre/The Post And Courier via AP, Pool, File)

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US economic growth for last quarter is revised down to a 2.1% annual rate
By PAUL WISEMAN - AP Economics Writer
Wed,08/30/23-7:35AM , 303 Reads
WASHINGTON (AP) — The U.S. economy expanded at a 2.1% annual pace from April through June, showing continued resilience in the face of higher borrowing costs for consumers and businesses, the government said Wednesday in a downgrade from its initial estimate.
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Washing machines are displayed at Sam's Appliances TV & Furniture, on March 25, 2021, in Norwood, Mass. On Thursday, the Labor Department reports on U.S. consumer prices for July. Economists expect the report to show prices rose 3.3%. (AP Photo/Steven Senne, File)

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From eggs to electronics to used cars, consumer inflation eased its grip on US households in July
By PAUL WISEMAN - AP Economics Writer
Wed,08/09/23-5:24PM , 141 Reads
WASHINGTON (AP) — Inflation in the United States edged up in July after 12 straight months of declines. But excluding volatile food and energy costs, so-called core inflation matched the smallest monthly rise in nearly two years, a sign that the Federal Reserve’s interest rate hikes have continued to slow price increases.
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Kubota tractors are stored in Uniontown, Pa., Friday, June 9, 2023. On Thursday, the Commerce Department issues its first of three estimates of how the U.S. economy performed in the second quarter of 2023. (AP Photo/Gene J. Puskar)

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US economy unexpectedly accelerated to a 2.4% growth rate in April-June quarter despite Fed hikes
By PAUL WISEMAN - AP Economics Writer
Wed,07/26/23-6:07PM , 99 Reads
WASHINGTON (AP) — The U.S. economy surprisingly accelerated to a 2.4% annual growth rate from April through June, showing continued resilience in the face of steadily higher interest rates resulting from the Federal Reserve’s 16-month-long fight to bring down inflation.
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