Fb pulls a GE
Facebook, which turned a $1.1 billion profit in 2012, took a page out of GE’s playbook when it did not pay a dime in federal and state income taxes, according to Citizens for Tax Justice. Facebook will get a $429 million refund.
Headwinds
US stocks could struggle to extend their seven-week winning streak as the quarterly earnings period draws to a close and the market hits technical resistance.
Coach
Coach has promoted Victor Luis, its CEO-in-waiting, to president and chief commercial officer, with an annual salary of $1.1 million and a bonus of up to twice that amount.
Boeing’s fix
Boeing may suggest a temporary fix to improve the 787’s ability to withstand overheating of its lithium-ion batteries as soon as this week.
Housing cools
New residential construction cooled in January and US existing-home sales slowed after the strongest year since 2007, economists said ahead of reports this week.