EU tells Ireland to collect $14.5 billion in taxes from Apple. Good luck with that

<i>Breakfast with Benjamin</i> Why EU-Ireland-Apple tax drama likely will be contested in court for years.
AUG 31, 2016
  • The European Union says Ireland must collect $14.5 billion in taxes from Apple, which currently sits on about $215 billion in cash — more than the market capitalization of 490 companies in the Standard & Poor's 500. The EU's demand is likely to be contested in court for a long time.
  • What's the problem with tactical allocation funds? They're supposed to change their asset mix according to market conditions. And they do. They also stink at it, says Morningstar's John Rekenthaler.
  • The Federal Deposit Insurance Corporation's list of problem banks shrunk to 147 from 165 in the second quarter. It's the smallest number of problem banks in more than seven years, and down significantly from its peak of 888 in 2011.
  • Cry me a river, Aetna. Retreating carriers whine that exchanges bruised their bottom lines; meanwhile, their profits are off the charts, thanks to ... Obamacare.

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