A battery from a video camera caused a small fire on an American Airlines plane.
A battery from a video camera caused a small fire on an American Airlines plane.
Alaska currently has no income or state sales tax. Technology has made it easier for individuals and businesses to move to states--or countries--with lower tax rates, says Joe Henchman, vice president of legal and state projects for the Tax Foundation, a policy research organization based in Washington, D.C. "Everybody is under the gun to be more competitive, whether it's government or the private sector," he says.
One of the most powerful Democrats in the U.S. Congress on Tuesday pressed President-elect Donald Trump to keep the consumer financial watchdog agency's current director, as rumors about a possible termination and replacement swirled. Senate Democratic leader Chuck Schumer told reporters that Trump will break his campaign promise of "standing up for workers and consumers against the rigged system" if he fires the U.S. Consumer Financial Protection Bureau's (CFPB) director, Richard Cordray, after taking office on Friday. "If Trump intends to keep any of his promises and un-rig the system, he would keep Rich Cordray," the senator from New York said in a phone call with reporters.
Liberal U.S. Supreme Court justices on Tuesday questioned the practices of a firm that buys unpaid consumer debt for pennies on the dollar then seeks to recover it from people in bankruptcy even when barred from doing so by state statutes of limitations. Fellow liberals Elena Kagan and Ruth Bader Ginsburg also posed tough questions to Midland's lawyer, indicating sympathy for an Alabama debtor named Aleida Johnson, who entered bankruptcy in 2014 and sued the company after it sought payment of $1,879 in debt incurred more than a decade earlier.
At least 50 factories are under the lens of authorities in the Chinese city of Tianjin for reportedly producing fake seasonings. The manufacturing units were using illegal ingredients like industrial salt in seasoning including soy sauce and vinegar, a local media report said. The official probe came after a local media agency – the Beijing News – did an investigation and came to know about the existence of these units on Monday (16 January). The factories were used to produce fake products under the brand name of famous goods, including Maggi, Knorr, Lee Kum Kee, Haday and Nestle. The China Food and Drug Administration (CFDA) said in a statement later on Monday (16 January) that it had sent
Sears Holdings Corp. is using everything in its arsenal to stay afloat, but that still won’t be enough if the company can’t make its brand more relevant and generate sales, experts say. Last week, Sears (SHLD) announced it had sold its Craftsman tool brand for $900 million to Stanley Black & Decker Inc. (SWK), the latest move in an effort to keep the business going. The sale came after Sears announced a new credit facility with funds run by Chief Executive Eddie Lampert of up to $500 million, secured by mortgages on 46 real estate properties.
Boeing Co's chief executive said on Tuesday that he and President-elect Donald Trump "made progress" on lowering the cost of the Air Force One presidential aircraft fleet and on a potential sale of Boeing fighter aircraft, and suggesting a deal could be struck soon. Boeing CEO Dennis Muilenburg's visit to Trump Tower on Tuesday marked another step in Trump's efforts to use his bully pulpit to cut better deals with defense contractors. It also showed Boeing's adroit use of the meetings to pursue its own sales and herald its importance to the U.S. manufacturing economy.
As stocks continue to flirt with record highs, Wall Street's biggest bull has a clear message for investors: keep buying. And he has six lagging groups that are prime for profits. According to Fundstrat's Tom Lee, 2017 is likely to be a very good year for laggards of the S&P 500 index. In recent coverage, he highlighted oil and gas drillers, metal and glass containers, fertilizers and agricultural chemicals, IT consulting, tanker stocks, and metals and mining. "We looked at close to 80 years of the performance of 164 industries," Lee said Friday on CNBC's "Trading Nation." "When a group severely lags, by at least 2,500 basis points or more, you almost always make money buying these things." Since
The new Nike outlets, which will occupy 500 square feet of space within the men's department, will feature "pumped up visual elements", including Nike's Swoosh sign and motivating graphics of athletes. The outlets will feature an expanded assortment of performance and "athleisure" apparel. The Nike shops will also stock an array of accessories, including weighted jump ropes, water bottles, workout gloves, gym socks and sweat bands, J.C. Penney said.
If you ever want to know how the market feels about a particular company, the stock's short interest movement can often serve as your best gauge. Short interest offers a sense of how pessimistic or "bearish" investors are about a company over a certain time period. In that regard, the almost 90% decline in short interest for The Dow Chemical Company (DOW) suggests that short sellers believe the stock is going higher and want to take less risk. As of the most recent settlement date, Dow stock had only 10.1 million shares in the hands of short sellers, translating to a decline of 88.5% from the prior period's 88.2 million shares. This ranks as the sixth largest percentage decline in market, according
Tax season is almost here, and if you're like most taxpayers, you'll soon be looking high and low for ways to pay less to Uncle Sam -- or to get a bigger refund. One way that most Americans can cut their tax bill and take a step forward in saving for retirement is to contribute to a traditional IRA. Indeed, the average taxpayer who took advantage of this tax break got a deduction of nearly $5,000. Yet only a tiny fraction of those who are eligible actually make those deductible contributions. Let's look more closely at deducting contributions to traditional IRAs to see whether you could benefit from doing so. Why a traditional IRA contribution is a smart move The most common reason why people
The government ethics officer who last week criticized President-elect Donald Trump for his decision not to divest himself of his assets before taking office is now under fire from both Trump’s transition team and the chairman of a committee in the House of Representatives that could stand in the way of his agency’s legislative reauthorization. Without presenting any evidence, Reince Priebus, Trump’s incoming chief of staff, on Sunday accused Walter Shaub, the head of the Office of Government Ethics, of being ethically compromised himself. The anger at Shaub arose primarily from remarks he delivered at the Brookings Institution last week, in which he declared Trump’s plan to hand over management of his company to his sons while retaining ownership a “meaningless” gesture that does nothing to ameliorate the conflicts of interest he will face as president.
Niki Lauda believes new Mercedes signing Valtteri Bottas can be as fast as the man he replaced, retired Formula One world champion Nico Rosberg. "Bottas is the best man (for the job). "We can start the season in a very calm and confident manner with the pair of them," added the Mercedes team's non-executive chairman.
Oil prices are set to fall later this year despite the recent OPEC agreement to limit production, Fatih Birol, the executive director at the International Energy Agency, has told CNBC. The oil cartel's production cut last year gave a boost to prices as it limited supply, but Birol expects other countries - most notably the U.S. - will simply step in to fill the void and depress prices, he predicted. The dramatic fall in prices that began in mid-2014 was due to weak demand, a strong dollar and booming U.S. oil production, according to the International Energy Agency (IEA).
Exxon Mobil Corp. is the latest company to expand in Texas’ red-hot Permian basin, announcing a deal Tuesday to buy companies owned by the Bass family for $5.6 billion in stock and up to $1 billion in additional payments. Once a dominant player in the region, Exxon (XOM) is joining other oil firms in a race to build up drilling portfolios in West Texas and New Mexico. With the purchase, newly installed Exxon Chairman and Chief Executive Darren Woods will nearly double the oil and gas the company holds in the area to the equivalent of 6 billion barrels, the company said.
Johnny Depp sued his former business managers on Friday alleging they mismanaged his earnings throughout a lucrative period of his career, although the company says the actor's spending is to blame.
The eight tycoons' net worth, as calculated by Forbes magazine, was cited Monday by anti-poverty activists Oxfam in a report highlighting income inequality. Gates co-founded Microsoft in the mid-70s, growing it into the world's biggest software company and helping to make computers a household item. The richest person in Europe, Ortega opened the first Zara fashion shop in 1975.
Consider the math: According to Bankrate.com, the highest yield you can expect from a money market account right now is 1.26%. There's no denying that the stock market can take you on a bumpy ride, so your fears are understandable. Savings earmarked for retirement are particularly well suited for the stock market.
FRANKFURT/BERLIN (Reuters) - U.S President-elect Donald Trump warned German car companies he would impose a border tax of 35 percent on vehicles imported to the U.S. market, a plan that drew sharp rebukes from Berlin and hit the automakers' shares. In an interview with German newspaper Bild, published on Monday, Trump criticized German carmakers such as BMW (BMWG.DE), Daimler (DAIGn.DE) and Volkswagen (VOWG_p.DE) for failing to produce more cars on U.S. soil.
Immelt's tenure at General Electric Company The following chart shows the total return of General Electric stock compared to the S&P 500. As you can see below, former CEO Jack Welch oversaw outstanding performance in the 90s, while the decade since the handover to Immelt in 2001 was characterized by underperformance. However, since 2010 General Electric has outperformed. What changed? General Electric from 2000-2010 Here's a chart of General Electric's segmental profit in 2001. As you can see, Immelt took over a company heavily reliant on its power segment (around a third of industrial profits) and whose largest source of income was its financial arm. Meanwhile, the portfolio contained a disparate
In case you needed one more way — or reason — to buy things from Amazon, here it is. The retailer AMZN, +0.43% on Wednesday announced its new Amazon Prime Rewards Visa Signature credit card, which will offer 5% back to customers who are members of Amazon Prime, which itself costs $99 per year to join. It also offers 2% back at restaurants, gas stations and drugstores and 1% back on all other purchases. There is no cap on the amount of rewards cardholders can earn. It is a Visa card V, -0.25% issued through Chase JPM, +0.53% The card has no annual fee and does not charge foreign transaction fees, and charges 14.74% to 22.74% annual percentage rate on unpaid balances versus the average credit
If options traders are correct, stocks are in for a wild ride in February. Demand for one-month call options tied to the CBOE Volatility Index, a popular gauge of stock-market volatility, has spiked in the past week, a sign that some are bracing for a sharp downturn following the inauguration of President-elect Donald Trump. In that time, investors have purchased 250,000 VIX call options with a strike price at 21, and another 100,000 with the strike at 22, according to Brian Bier, head of sales and trading at Macro Risk Advisors, an options brokerage. The options cost roughly 49 cents per contract, Bier said. By comparison, the CBOE Volatility Index VIX, +10.51% was at 11.16 in midday trading
OPEC's campaign to prop up oil prices is getting unlikely support from its biggest customer. (Bloomberg) -- OPEC’s campaign to prop up oil prices is getting unlikely support from its biggest customer. China’s production is forecast to fall by as much as 7 percent this year, extending a record decline in 2016, according to analysts at CLSA Ltd., Sanford C. Bernstein & Co. and Nomura Holdings Inc. That’s about the same size as the output cut agreed by Iraq, the second-biggest producer in the Organization of Petroleum Exporting Countries, which late last year reached a deal to trim supply to support prices. “China’s domestic crude output decline will certainly help OPEC’s plan to reduce global supply,”
Bank of America Chairman and CEO Brian Moynihan told CNBC on Tuesday the prospects of stronger U.S. economic growth and higher interest rates have had a big, positive impact on business. Shares of Bank of America have surged about 35 percent since Donald Trump won the presidency, swept up in the stock market rally since Election Day. Appearing on "Squawk Box" from the World Economic Forum in Davos, Switzerland, Moynihan said there were a number of reasons for the strong performance.
Oil production in Asia-Pacific is declining at a rate not seen elsewhere in the world, with around half of losses coming from China alone, Wood Mackenzie has warned. "We estimate 2016 production of 7.5 million barrels per day will fall by over a million barrels per day by 2020," said Angus Rodger, the energy consultancy's Asia-Pacific upstream research director. China, Indonesia, Malaysia and Thailand are among the biggest producers in Asia but the near having of crude oil prices since 2014 has hit the industry and resulted in an annual average base decline rate of around 7 percent within existing oil fields, Rodger pointed out.