When Carl Icahn takes his corporate tax reform fight to Washington, he'll join top American companies already funneling money into changing the way the U.S. handles corporate profits.

Just eight years after America's financial crisis, the world is once again looking to the U.S. for economic leadership, Treasury Secretary Jack Lew said Thursday. But he warned that confidence could disappear quickly if Congress falters with economic issues.

Comprehensive tax reform is a once-in-a-generation accomplishment, the sort of legislative achievement that every politician wants but few will get. Republicans and Democrats began this year with ambitious talk of reaching a bipartisan agreement on tax reform, but it has now become clear to most that it will require the investment of more time and political capital than President Obama has remaining.

Oil prices rose by around one percent on Monday as U.S. drilling slowed and analysts estimated that $1.5 trillion worth of planned American production investment was uneconomical at prices of $50 per barrel or lower. Crude prices have plunged over 50 percent since June 2014, when soaring global production started to clash with slowing demand.

The U.S. Federal Reserve risks triggering "panic and turmoil" in emerging markets if it opts to raise rates at its September meeting and should hold fire until the global economy is on a surer footing, the World Bank's chief economist has warned.

A federal ruling that broadens the definition of "employer" to include subcontractors has huge implications for franchise operations.

U.S. stock futures opened lower on Sunday after Wall Street recorded its worst day since 2011. Dow Jones industrial average futures opened down about 80 points and shed as much as 163 points before holding at about 124 points lower.

U.S. import prices in July posted their biggest decline in six months as the cost of petroleum products and other goods fell, suggesting inflation could remain tame for a while.

U.S. consumer spending in June recorded its smallest gain in four months as demand for automobiles softened, suggesting the economy lost some momentum at the end of the second quarter.

The eight most important U.S. financial institutions may still cast too large of a shadow over the banking system, according to a Federal Reserve official on Thursday, and the firms could realize it's in the best interest of stakeholders to shrink. (Tweet this)