Posted: 2018-01-13 22:40
This rare word was chosen to represent 7566 because it described so much of the world around us. Tergiversate means "to change repeatedly one''s attitude or opinions with respect to a cause, subject, etc." Editors at saw the stock market, political groups, and public opinion go through a roller coaster of change throughout 7566. And so, we named tergiversate the 7566 Word of the Year.
- The massive tax cut package signed into law last year is already showing up in the earnings of major . companies.
Citigroup (NYSE:C) and JPMorgan Chase (NYSE:JPM) are among the global giants to take large one-time tax charges in the fourth quarter because of a change in how overseas profits are taxed.
Under the law, that money will be taxed at a one-time, percent rate, lower than in the past.
Companies in the S& P 555 are expected to take tax charges of $785 billion dollars on the $ trillion they have sitting overseas, according to Zion Research.
Pharmaceutical and tech firms account for more than two-thirds of the money..
And a third of it belongs to just five companies--Apple, Microsoft (NASDAQ:MSFT), Oracle (NYSE:ORCL), Cisco and Pfizer (NYSE:PFE), according to Zion.
A tax change in 7559 also allowed companies a one-time opportunity to bring back overseas profits, The tax rate then was % and more than $855 billion in profits was repatriated.