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Trump wants to lower business rate to 15 percent in 'biggest tax cut' in US history, Mnuchin says

Business / Business News /

WASHINGTON -- President Donald Trump wants to sharply reduce the tax rate for all businesses -- from multinational corporations to mom-and-pop shops -- to 15 percent in the "biggest tax cut" in U.S. history, Treasury Secretary Steven T. Mnuchin said Wednesday.

But the Trump administration has not embraced a House Republican proposal to include ...Read more

Twitter's revenue declines but beats Wall Street's expectations

Business / Business News /

SAN FRANCISCO -- Twitter on Wednesday reported its first revenue decline since going public in 2013, a sign the tech firm still faces an uphill battle to attract advertisers even as it lures in more users.

Twitter executives, pointing to the company's bump in users, said it's making progress.

"This past quarter is giving us a lot of confidence...Read more

Fiat Chrysler quarterly profits rise 34 percent to $698 million

Business / Business News /

DETROIT -- Fiat Chrysler Automobiles said Wednesday it earned a profit of $698.2 million (641 million euro) during the first quarter, a 34 percent gain compared with the same period a year ago, driven primarily by profits in Europe and gains by its Maserati brand.

The earnings are a record best for the company, which was formed from the merger ...Read more

A strike by TV and movie writers may be just days away. Here's what you need to know

Business / Business News /

LOS ANGELES -- Ready or not, Hollywood may be thrust into another writers' strike in less than a week.

A decade after the previous walkout that lasted 100 days, film and TV executives are once again bracing for a strike that could roil the business and Los Angeles' bedrock entertainment industry. The ripple effect of a walkout is expected to ...Read more

Starbucks Roastery in Chicago will be its largest yet

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CHICAGO -- Starbucks plans to open a four-level Roastery flagship on Chicago's Michigan Avenue, its largest space yet for the high-end concept that the coffee giant is rolling out around the world.

Executive Chairman Howard Schultz said the company plans to bring its Starbucks Reserve Roastery showplace to the current Crate & Barrel building at...Read more

Tech Q&A: How safe is it to use a tablet on a public Wi-Fi?

Business / Business News /

Q: When my apartment building added free Wi-Fi, I bought my first wireless device, a Kindle Fire tablet computer (my PC has a wired internet connection.) But I wonder what security software I should use on the tablet, and how concerned I should be that the building Wi-Fi network is very public -- I don't even need a password to sign in. Should I...Read more

Jennifer Van Grove: The internet FAQ for cord-cutters

Business / Business News /

The spinning wheel of death. That's how I refer to one of the most annoying complications associated with streaming TV: buffering.

The problem is scary enough to keep you glued to your cable TV provider, and rightfully so. After all, if you love TV, you're not going to want to tolerate slow program load times or all-out freezes.

Thankfully, ...Read more

Nasdaq index crosses 6,000 as stock market extends rally

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The technology-heavy Nasdaq composite index closed above 6,000 for the first time Tuesday as part of a broad rally in stocks being driven by a bullish outlook for U.S. corporate growth.

The Nasdaq index crossed the milestone 17 years after it first reached 5,000 during the height of the dot-com era, a market bubble that would burst when the ...Read more

Battle for Comic-Con hotel reservations looms

Business / Business News /

SAN DIEGO -- Now that Comic-Con attendees have survived the competition for getting a badge to the July convention, the next hurdle is nabbing a coveted hotel reservation.

Starting Wednesday morning, attendees can access a website for booking a room at one of more than 55 hotels that are part of a special convention room block that offers firm ...Read more

Uber's 'flying cars' set to land in Dallas by 2020

Business / Business News /

SAN JOSE, Calif. -- Uber plans to demo its first "flying cars" in U.S. cities by 2020, the ride-hailing company said Tuesday, moving one step closer to a future where workers take to the air for their daily commutes.

The first places to get a glimpse of the futuristic vehicles will be the Dallas-Fort Worth area and Dubai in the United Arab ...Read more

T. Rowe Price Group reports Q1 results up from last year

Business / Business News /

BALTIMORE -- T. Rowe Price Group Inc. reported a profit of $385.9 million in the first three months of the year, up 27 percent from the January-through-March period last year.

Earnings per share at the Baltimore-based investment management company rose to $1.54, up 36 cents compared to the first quarter of 2016.

The results were buoyed by a $...Read more

McDonald's new Big Macs fueled growth, but it's banking on tech to bring back lost customers

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CHICAGO -- McDonald's said new food offerings and cheap drinks drove its first-quarter earnings growth but it believes technology in the form of delivery, mobile ordering and in-store kiosks are the keys to winning back lost customers.

The world's largest burger chain, headquartered in suburban Chicago, said its delivery partnership with ...Read more

Trump imposing tariffs on some lumber imports from Canada

Business / Business News /

WASHINGTON -- The Trump administration is slapping hefty duties on billions of dollars of lumber imported from Canada, marking an escalation of trade tensions ahead of the president's promised effort to overhaul the North American Free Trade Agreement.

The U.S. softwood lumber industry has long complained that competing imports from Canada are ...Read more

All Wells Fargo board members re-elected at shareholder meeting

Business / Business News /

All Wells Fargo & Co. board members were re-elected Tuesday at the company's annual meeting, though with markedly lower support than in previous years.

At least one member scraped by with 53 percent of the vote. Other than the board's two newest members, no one received more than 81 percent of the vote, Chairman Stephen Sanger said.

At least ...Read more

Trudeau's reward for courting Trump is a trade war over lumber

Business / Business News /

OTTAWA, Ontario -- Justin Trudeau has always played nice with Donald Trump. The refugee-hugging liberal bit his tongue, flooded Washington with envoys, feted Ivanka Trump on Broadway and relentlessly talked up Canada-U.S. ties.

It hasn't worked.

On Monday, Trump teed off a fresh trade war by slapping tariffs of up to 24 percent on Canadian ...Read more

Coca-Cola says it will begin cutting 1,200 jobs later this year

Business / Business News /

ATLANTA -- Coca-Cola said Tuesday it will be eliminating 1,200 corporate jobs later this year as part of an expanded cost-cutting program.

Coca-Cola President James Quincey, who is set to take over as chief executive of the Atlanta company on May 1, announced the job cuts during the company's first-quarter earnings call with investors.

No ...Read more

Aviation cop: 'Minimal but necessary force' was used to remove United passenger

Business / Business News /

CHICAGO -- A Chicago aviation police officer said "minimal but necessary force" was employed to remove Dr. David Dao from a United Airlines flight after he reacted aggressively when asked to get off the plane, according to records released Monday by the city.

The incident reports provide additional detail into the April 9 incident at O'Hare ...Read more

After GM flees their country, Venezuelans take sides over who is to blame

Business / Business News /

VALENCIA, Venezuela -- The assembly lines stopped whirling years ago. Now weeds blanket the factory grounds.

Like so much in this country destabilized by political and economic turmoil, the General Motors plant here in one of Venezuela's largest cities no longer functions. It stopped producing cars in late 2015.

What caused the stoppage is a ...Read more

The man behind 2016's biggest US tech IPO shares how the deal went down

Business / Business News /

SAN JOSE, Calif. -- While most Silicon Valley tech startups were shying away from the public market last year and analysts were sounding alarm bells over the worrisome lack of IPOs, San Jose-based Nutanix was one of the few companies that took the plunge.

The enterprise cloud company in September priced the biggest U.S.-based tech IPO of 2016, ...Read more

Targeted by Obama, for-profit colleges rebounding under Trump

Business / Business News /

CHICAGO -- It may be too late for shuttered Corinthian Colleges, ITT Technical Institute or even Trump University, but Wall Street is betting the potential rollback of Obama-era initiatives to hold for-profit colleges accountable may lead to a resurgence of the beleaguered industry.

Rebounding from what some analysts saw as an existential ...Read more

 

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