Dec 25, 2017

Tax provision could bring lots of U.S. corporate cash from abroad

The signed tax law sits on President Trump’s desk. Photo: Brendan Smialowski / Getty contributor

A provision of the new tax law could bring as much as $400 billion in corporate cash from overseas back into the United States, per the Wall Street Journal. That’s because of the “repatriation” provision, which gives U.S. companies a one-time tax break to bring back overseas earnings and cash — meaning they’d have to sell foreign holdings and buy assets denominated in dollars.

The bottom line: "Bank of America Merrill Lynch, BNP Paribas and RBC Capital Markets all believe the dollar will start 2018 stronger, according to forecasts released in the last several weeks. Out of those banks, however, only analysts at RBC predict the currency will hold those gains into year-end."

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54 mins ago - Technology

The slippery slope of protest surveillance

Illustration: Aïda Amer/Axios

President Trump's call to treat antifa supporters like terrorists could be a green light for high-tech surveillance of dissidents.

Why it matters: It's unlikely the Trump administration can designate antifa as a terrorist group in any legally meaningful way, but the declaration gives law enforcement tacit approval to use a plethora of tech tools to monitor protesters and left-leaning activists.

The biggest crisis since 1968

Illustration: Aïda Amer/Axios. Photo: Bettmann/Contributor

The year 1968 has been on a lot of people’s minds lately — another year of protests, violence and upheaval that seemed to be tearing the nation apart.

Yes, but: This crisis also has moments we’ve never seen before — and some historians and experts say the differences suggest that 2020 doesn't compare well at all.

SoftBank to launch $100M fund backing companies led by people of color

Illustration: Aïda Amer/Axios

SoftBank COO Marcelo Claure said in a letter to employees early Wednesday that the firm will create a $100 million fund that "will only invest in companies led by founders and entrepreneurs of color."

Why it matters: The Opportunity Growth Fund is one of the first to put significant capital behind companies' statements of empathy and outrage in response to protests over systemic racism in the U.S. typified by the killings of George Floyd, Breonna Taylor and other African Americans by police.