Corporate-tax executives still stand by that stalwart tool of a spreadsheet, according to a survey by PricewaterhouseCoopers and the Manufacturers Alliance for Productivity and Innovation. The survey found that more than 60% of tax executives continue to use spreadsheets as a provisional tool. The practice could lead to a financial system consisting of disjointed and siloed record keeping, the report says.
Officials in Washington, D.C., are worried that hardening political deadlock over the budget brings a genuine risk that the government will default on debt. Many are concerned that talk in Congress about the ability to manage a default, rather than avert one, means that chances for a compromise are slipping away. "I am nervous by the desire to drive this to the last minute," Treasury Secretary Jack Lew said at a business forum.
Goldman Sachs analysts anticipate production from North Dakota's Bakken Shale play to exceed Wall Street's expectations. "We see production growth of [130,000 barrels a day to 210,000 barrels a day] through 2016," the analysts said following their trip to the state. Drillers and producers were "uniformly confident" in efficiency gains and resource expansion.