The International Monetary Fund raised its economic growth forecasts for the U.S., saying output could grow nearly a half-percentage point faster than previously thought over this year and next, thanks to President-elect Donald Trump’s plans to cut taxes and boost infrastructure spending.
Success with a deal for IBM personal computers led China’s Lenovo to underestimate the difficulty of reviving smartphone company Motorola Mobility. “We underestimated the differences of the culture and the business model,” says the CEO.
Federal Reserve officials increasingly say they don’t see a need for stimulative government tax and spending programs to boost short-term economic growth, reversing their stance during and after the Great Recession.
Donald Trump criticized a cornerstone of House Republicans’ corporate-tax plan, which they had pitched as an alternative to his proposed import tariffs, creating another point of contention between the incoming president and congressional allies.
Prosecutors’ decision to seek the arrest of Samsung Group heir Lee Jae-yong threatens to knock one of the world’s biggest companies off course—and, represents a significant challenge to South Korea’s large, family-run companies.