Market slides as weak data push Dow below 15,000
New York stock prices tumbled led by miners banks and chemical makers as weak hiring mortgage and factory orders weighed on growth prospects. The Dow fell 217 points to 14,960 closing below 15,000 for the first time since May 6, with the S&P and Nasdaq also down.
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New York
U.S
Brad Reynolds
LJPR
Beazer Homes
D.R. Horton
Treasury
ADP
Federal Reserve
Ben Bernanke
Fed
Standard & Poor
Intel
Alcoa
Dow
Schaeffer
Eurozone economy stalls with sovereigns still shrinking
Eurostat reports the eurozone contracted 0.2 percent in Q1 as nine of its 17 members faced two consecutive quarterly declines. Retail sales slid 0.5 percent in April and May purchasing managers index remained below 50, signaling ongoing weakness across major economies in the bloc.
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London
Eurostat
European Unions Statistics Office
Eurozone
Cyprus
Finland
France
Greece
Italy
Netherlands
Portugal
Slovenia
Spain
Markit
Toyota recalls 242000 Prius and Lexus hybrids for braking issue
Toyota recalls about 242000 hybrids including 233000 Prius and 9000 Lexus HS250h models due to weak brake pressure parts that could crack from vibration. No accidents or injuries reported. defects cited from wire reports with wide regional sales in North America Europe and Asia.
MENTIONED IN THIS ARTICLE
Tokyo
Toyota Motor Corp
U.S
Japan
North America
Europe
Conflicting statutes fuel IRS confusion over social welfare groups
Washington faces a century of statutes and regulations on political activity by tax-exempt groups. The 501(c)(4) rules use conflicting terms like exclusively and primarily, leaving IRS and lawmakers unsure how to judge compliance. The debate intersects with IRS scrutiny of tea party groups and Citizens United era spending.
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Congress
Steven Miller
IRS
Obama
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Alliance For Justice
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Supreme Court
Citizens United
Nonpartisan Center For Responsive Politics
Ellen Aprill
Loyola Law School
Los Angeles
Treasury Department
Marcus S$. Owens
Owens
Tax exempt status rules go back to 1913 conflict
The piece traces how nonprofits faced conflicting standards from 1913 to 1959, with the term exclusively clashing with later tax on unrelated business income. It notes lawmakers left harmonization unfinished, leaving the IRS to enforce rules case by case amid ongoing uncertainty.
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Treasury Department
Congress
C.F Mueller Co
NYU Law School
NYU
Mueller
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