Jeremy Corbyn says he would like to see a maximum cap on the amount people can earn. The Labour leader said he thought introducing the limit would be "the fairer thing to do". Mr Corbyn said he was "not wedded to a figure" but told BBC Radio 4's Today programme: "Let's look at it." He said the UK's levels of income disparity were getting worse, saying this cannot go on "if we want to live in a more egalitarian society". "I would like there to be some kind of high earnings cap, quite honestly," he said.
But the budget is propped up with earnings from the permanent fund earnings. Legislators this year began using fund earnings to help cover government costs, with about $1.7 billion targeted for that purpose. Another $1 billion went toward paying residents capped dividend checks. The size of the checks has been limited since 2016, first by Walker, then by lawmakers, in response to the deficit.
IBM reported quarterly earnings that beat analysts' estimates, though a first-time breakdown of sales of newer offerings showed that growth in those areas still isn't increasing fast enough to make up for a long decline in traditional products. Adjusted earnings, excluding some items, fell 19 percent from a year earlier to 2.35 a share, International Business Machines Corp. said in a statement Monday. Analysts estimated 2.09 on average. Sales fell 4.6 percent, dropping for the 16th consecutive quarter, to 18.7 billion, compared with the average analyst estimate of 18.2 billion. Currency dragged on revenue by less than three percentage points; the Armonk, New York-based company had previously forecast a three to four percentage point impact.
IBM is slated to report earnings Monday, April 16, 2016. Technology investors have been buying shares of Apple and IBM with both fists during the last three months. The stocks are up 13% and 14% during that time, almost double the gain of the Nasdaq Composite Index, as U.S. stock markets have come roaring back from steep losses earlier this year. Yet the Apple (AAPL) and IBM (IBM) bulls have been stampeding right into the face of bearish earnings trends for both tech giants. For the quarter ended in March, the Wall Street analysts who cover Apple stock expect the company to report earnings of 2 a share, according to Thomson Financial.