Wikinews:Briefs/Business/December 13, 2005

Tuesday, December 13, 2005

These are short blurbs about current events in the business world.

UK's Marks and Spencers wins tax rebate case

The UK's retailing giant, Marks & Spencer, has won their case at the European Court of Justice. The court's ruling allows losses made in foreign operations to be offset against taxes to be paid in the UK. It is expected that this ruling will require that the UK treasury pay out significant amounts as a number of firms are poised to bring their own cases to take advantage of this ruling.

Sources

"M&S wins landmark tax rebate case" — BBC News Online, December 13, 2005

U.S. Fed continues trend

In a widely expected move, the U.S. Federal Reserve bumped the interest rate a quarter percent to 4.25%. This is the 13th consecutive rate hike since June of 2003. The central bank left open the possibility of additional rate hikes, but analysts are predicting the trend is probably near a close.

The Fed also rewrote its 2 year old explanatory statement by removing language that viewed interest rates to as adding to growth. Because many financial decisions are effected simply by what, and when, the Fed speaks the Fed wanted to remove any associations between policy actions and any set timetable or speed of their delivery.

Sources

"U.S. Federal Reserve continues string of interest rate hikes" — CBC, December 13, 2005
Rachel Koning. "Treasurys gain after Fed acts" — Market Watch, December 13, 2005

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This page is archived, and is no longer publicly editable.

Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.