Business

Senate GOP intent on scrapping health mandate in tax bill

Congress Taxes-3

Senate Republicans are intent on scrapping the Affordable Care Act's requirement that Americans get...

Business

The Latest: Trump calls Democrats 'obstructionists' on taxes

Trump Congress Taxes

WASHINGTON (AP) — The Latest on the Republican-pushed tax overhaul legislation (all times local): 6:20 a.m. President Donald Trump says the Democrats could exert greater sway over the shape of tax overhaul legislation if they weren’t focused wholly on defeating it. In a pre-dawn tweet Friday, Trump...


Business

US stock indexes step back after a big gain; retailers climb

Financial Markets Wall Street SailPoint IPO

NEW YORK (AP) — U.S. stock indexes are dipping Friday, a day after the market made its biggest gain in two months. Technology companies are returning some of their recent gains and banks are down along with interest rates. Retailers including Ross Stores, Gap and Foot Locker are jumping after they...


State

Sen. Hatch to Dems saying tax cuts are for rich: 'Bull crap'

Taxes Insurance Requirement

WASHINGTON (AP) — A debate between two senators over whether Republican tax cuts are aimed at helping the rich escalated into raised voices, interruptions, a banging gavel and the use of a decidedly un-senatorial noun. “I’m telling you, this bull crap that you guys throw out here really gets old...


Business

Derided by critics, trickle-down economics gets another try

Tax Overhaul-Trickle Down

WASHINGTON (AP) — Does money roll downhill? In their drive to cut taxes, President Donald Trump and congressional Republicans are betting it does. Behind their legislation is a theory long popular among conservatives: Slash taxes for corporations and rich people, who will then hire, invest and...


Business

Gap, Ross Surge as Discount Format Still Luring in Shoppers

(c) 2017, Bloomberg. Gap and Ross Stores are showing that growth is possible for apparel retailers. You just have to offer cut-rate prices. Both apparel companies saw their shares spike on Friday after posting comparable sales that exceeded analyst estimates. Gap relied on its budget-minded Old...


Business

GE's board purge set to claim big-name directors in overhaul

(c) 2017, Bloomberg. General Electric is narrowing its focus around several key markets, cutting costs and slashing the dividend. With all that shrinking going on, it’s only natural that the board of directors would follow suit. John Flannery, GE’s new chairman and chief executive officer, plans to...


Business

Drama in the desert: how Airbus's A380 deal in Dubai evaporated

(c) 2017, Bloomberg. At the handover of the 100th A380 superjumbo to Gulf carrier Emirates earlier this month in Hamburg, Airbus rolled out the red carpet to airline executives and Dubai royalty, who in turn winked and nodded that another multi-billion-dollar order for the double-decker was on the...


Business

GOP closer to big win with House tax vote; Senate unclear

Trump Congress Taxes

WASHINGTON (AP) — Republicans have stretched closer to delivering the first big legislative victory for President Donald Trump and their party, whisking a $1.5 trillion overhaul of business and personal income taxes through the House. Thorny problems await in the Senate, though. The House passage...


Business

Tesla's latest creation: An electric big rig that can travel 500 miles on a single charge

(c) 2017, The Washington Post. The main course was expected: a pair of sleek silver Tesla semi-trucks that get 500 miles per charge, go from zero to 60 mph in five seconds and - if the hype is to be believed - promise to single-handedly transform the commercial trucking industry. But dessert was a...


Business

Wall Street is watching these hotspots after Venezuela default

(c) 2017, Bloomberg. After Venezuela was declared in default by credit-rating companies this week, emerging-market money managers are looking to identify countries that might run into trouble down the road. None are nearly as badly off as Venezuela, where a combination of low oil prices, economic...


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