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News Breaks | | | | February 19, 2013 | | 06:19 EDT |  | PPL | PPL Corp. downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital downgraded PPL Corp due to valuation and lack of near-term catalysts. Price target is $31. | |
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News For PPL From The Last 14 Days Check below for free stories on PPL the last two weeks. |
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| May 20, 2013 | | 15:35 EDT |  | PPL | U.S. Supreme Court rules for PPL in foreign tax case
By a unanimous 9-0 decision, the U.S. Supreme Court overturned a federal appeals court ruling on that had denied PPL's claim of a credit against its U.S. income taxes for a "windfall tax" paid to the government of the United Kingdom. In the decision, the Supreme Court ruled that "the economic substance of the U.K. windfall tax is that of a U.S. income tax ... therefore the tax is creditable... We agree with PPL and conclude that the predominant character of the windfall tax is that of an excess profits tax, a category of income tax in the U.S. sense," the court wrote in its opinion. "The U.S. tax code allows companies to claim a credit for payment of foreign taxes that are similar in substance to U.S. income taxes. We have held throughout the process that because the U.K. windfall tax was based on income, it should therefore be creditable against our U.S. income taxes. We are pleased not only that the Supreme Court agreed, but that the agreement was unanimous," said Robert Grey, PPL executive vice president, general counsel and secretary. | | | 12:59 EDT |  | PPL | Ruling on PPL may have positive read-through for other utilities, Reuters says
The Supreme Court ruled PPL (PPL) can claim $39M in U.S. foreign tax credits against a 1997 British windfall tax and other utility companies, like Entergy (ETR) and American Electric Power (AEP), are in the same position, having been hit by the windfall tax after they acquired British utility companies that were later privatized, reported Reuters. Reference Link | | | 12:57 EDT | | PPL | Supreme court rules in favor of PPL on foreign tax credits
 Subscribe for More Information | | | May 9, 2013 | | 06:28 EDT | | PPL | PPL Corp. announces Susquehanna nuclear power plant begins planned outage
Operators at PPL's Susquehanna nuclear power plant disconnected Unit 1 from the regional power grid early Thursday at the start of a scheduled outage to install turbine modifications. The modifications are the first phase of a long-term plan that is expected to resolve the turbine blade issues that have affected plant operations in recent years. | |
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