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Business News

Lots of Cash in Foreign Banks


This week we are set-up for a two day Federal Reserve meeting that will conclude with Chairman Janet Yellen giving her first press conference.  For the time being markets seem to be shrugging off event in Europe and are looking to open higher.

In 2013 the percentage of workers relocating for a new job climbed 35% according to outplacement firm Challenger, Gray & Christmas.  About 13% of those finding a new job relocated.  This is a good economic sign that companies are starting to hire and people can also sell their home and be able to move.

Your taxes are due one month from today and Oregonians face the fourth highest tax rate in the nation on dividends at 31% on the top rate. California was the highest at 33% and Washington the lowest at 25%. (Tax Foundation)

US corporations continue to build their cash reserves in foreign banks adding another $206 billion in 2013.  Total offshore cash for US companies stands at $1.95 trillion up 11.3% from last year.  Microsoft, Apple and IBM accounted for 18.2% of last year’s cash increases. (Bloomberg)

Apple is the most desirable mobile-phone brand in the emerging market countries.  Market share for Apple jumped from 21% in 2012 to 32% last year.  Number two Samsung dropped to 29% market share in 2013.  (Upstream)


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