Biggest banks said to face asset tax in Republican plan

Bloomberg: The biggest U.S. banks and insurance companies would have to pay a quarterly 3.5 basis-point tax on assets exceeding $500 billion under a plan to be unveiled this week by the top Republican tax writer in Congress. The proposal would raise taxes for about 10 companies -- the largest banks along with non-bank institutions such as General Electric Co.'s financing arm -- that are deemed systemically important by the federal government.

 

House oversight panel demands documentation on Target breach

Reuters: A House of Representatives committee with broad investigative jurisdiction has turned up the heat on Target Corp., demanding that the No. 3 U.S. retailer turn over internal documents and messages generated between Nov. 1 and Dec. 13 describing how and when it learned of a recent massive consumer data breach.

 

Comcast deal won't lead to Netflix price hike

CNNMoney: Rest easy, Netflix fans -- the online video service is unlikely to jack up costs following its big deal with Comcast to boost streaming speeds. But the partnership raises big questions about the future of Internet video. Netflix and Comcast announced an agreement Sunday under which Netflix will pay for direct access to Comcast's broadband network. That's instead of delivering its traffic through third parties like Cogent Communications, as Netflix has done previously.