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$EMR's income taxes were $231MM for 2016 compared to $625MM for 2015, resulting in effective tax rates of 38% and 39%, respectively. Separation costs related to the planned portfolio re-positioning actions had a 6 percentage point unfavorable impact on the 2016 effective rate. The effective tax rate for FY16 is estimated at 31% before these costs.
$GOOG’s Waymo accuses Uber of stealing its intellectual property. Startup Otto, which was recently acquired by Uber, also named in the lawsuit. Stage set for another dramatic legal battle!
We all knew $VALE CEO Murilo Ferreira was going out soon, but now I hear he has no idea who will succeed him!
$JCP, another traditional retailer that just shocked us with its biggest number of store closures.