Want to Avoid U.S. Taxes on a Warhol? Keep Buying Art
©2015 Bloomberg News NNHRUH6K50YH (Bloomberg) — Chicago plastics manufacturer Stefan Edlis faced more than $20 million in U.S. capital gains taxes by selling his Andy Warhol painting to billionaire Steven A. Cohen eight years ago. He paid zero. Half of the proceeds from the $80 million sale of Warhol’s 1964
The Lone Jewish Republican in Congress Is Nostalgic for George W. Bush
©2015 Bloomberg News NNJ8N66JTSEM (Bloomberg Politics) — On Saturday night, former President George W. Bush made remarks at the spring meeting of the Republican Jewish Coalition behind closed doors, but some of his message trickled out. He argued against President Barack Obama’s planned course of action on Iran and expressed skepticism over the pending
*Democracy Comes 2nd as Middle-School Kids Flunk Civics
©2015 Bloomberg News NNLDKT6JIJUV (Bloomberg) — More than half of U.S. eighth-graders say Americans believe the U.S. government should guarantee them a job when they grow up. That’s one of the findings of a federal test of children’s knowledge of history, civics and geography. Only 32 percent correctly answered the question
China’s Clunky Rival to Windows Is a Waste of Money: Adam Minter
©2015 Bloomberg View NV1RS96S972O (Bloomberg View) — When Xi Jinping walks into Microsoft headquarters on Wednesday for a global technology forum, he should have an extra spring in his step. Last week, Dell announced that 42 percent of the computers it sells in China now come pre-loaded with NeoKylin, a
Why Barrack, Sternlicht Joined Forces in U.S. Home-Rental Merger
©2015 Bloomberg News NV1OTG6K50Y7 (Bloomberg) — The combination of U.S. landlords Colony American Homes and Starwood Waypoint Residential Trust brings together two real estate moguls whose companies are trying to become a bigger force in the young house-rental industry. Starwood Waypoint is backed by Barry Sternlicht’s Starwood Capital Group, a
Emerging Stocks Decline With Currencies as Fed Euphoria Eases
©2015 Bloomberg News NV1S346K50YG (Bloomberg) — Emerging-market stocks fell from a one-month high and currencies weakened as the euphoria surrounding the Federal Reserve’s decision to hold off on raising U.S. interest rates was replaced by concern that global economic growth is slowing. Lukoil PJSC paced losses among Russian oil producers on
Wheat’s Worst Plunge Since 1986 Isn’t Steep Enough for Bears
©2015 Bloomberg News NUZ8KT6VDKHS (Bloomberg) — Hedge funds are so down on wheat that even the worst price plunge in 29 years isn’t leaving them satisfied. Instead, a global glut has money managers ready for more losses and sticking with a net-bearish outlook for seven straight weeks. World inventories before
Carly Fiorina Responds to Criticism of Hewlett-Packard Sales in Iran
©2015 Bloomberg News NUZPNI6KLVR4 (Bloomberg Politics) — Carly Fiorina said Sunday that neither she nor Hewlett-Packard should be faulted for the sales of millions of HP printers in Iran when such business was prohibited by U.S. law. Appearing on Fox’s Fox News Sunday, Fiorina said that despite being the CEO of HP when
Greece’s Year of Tumult Enters New Chapter as Tsipras Dominates
©2015 Bloomberg News NUZW8C6TTDSD (Bloomberg) — Greek voters had the choice to reject the man who led their country closer than ever to being forced out of Europe’s single currency. Instead, they embraced him. Alexis Tsipras and his Coalition of the Radical Left, or Syriza, emerged from a second election
Putin Says Global Community Must Unite to Fight Islamic State
©2015 Bloomberg News NUPOUD6JTSEK (Bloomberg) — Russian President Vladimir Putin said the fight against Islamic State should be the global community’s top priority in Syria, rather than changing the regime of Bashar al- Assad. A broad coalition is needed to combat the threat posed by the terrorist group, which wants