• Business

Powell could tackle key issues in high-profile speech Friday

Business 08/26/18, 12:09

Federal Reserve Chairman Jerome Powell will not lack for urgent topics to address when he gives the keynote speech Friday to an annual gathering of global central bankers in Jackson Hole, Wyoming. Fed watchers will be listening for anything Powell has to say about financial turmoil in emerging markets, the economic ...

Brexit backers criticize UK Treasury chief on warnings

Business 08/26/18, 12:09

Britain's Treasury chief has been accused of reinitiating "dodgy project fear" after he repeated warnings that there would be significant consequences for the economy if the U.K. leaves the European Union without an agreement on future relations. Philip Hammond's Conservative Party colleagues launched scathing attacks Friday after he told a parliamentary ...

AP-NORC Poll: Americans not enthused with Trump trade policy

Business 08/26/18, 12:08

Fewer than half of Americans expect President Donald Trump's tariffs to do much to help the U.S. economy, but their widespread unpopularity hasn't led most Republicans to stray from supporting the president's trade policy as the 2018 midterm elections approach. Majorities of Americans also doubt the recently announced taxes on imports ...

Powell signals more hikes ahead if US economy stays strong

Business 08/26/18, 12:08

Federal Reserve Chairman Jerome Powell signaled Friday that he expects the Fed to continue gradually raising interest rates if the U.S. economic expansion remains strong. Powell added that while annual inflation has risen to near the Fed's 2 percent target rate, it doesn't seem likely to accelerate above that point. That ...

New IRS rule on deductions hits some high-tax states hard

Business 08/26/18, 12:07

New rules unveiled by the IRS undermine some states' attempts to help residents keep a version of a popular federal income tax deduction. Last year's Republican tax overhaul put a $10,000 cap on deductions for state and local income taxes, which could affect some high-earners in high-tax states. A handful of ...

MGM opens Massachusetts casino with a flourish

Business 08/26/18, 12:06

Massachusetts' first resort casino with expansive gambling and entertainment options opened Friday with a Las Vegas-style flourish. After lining the streets for a procession through downtown Springfield that featured the Budweiser Clydesdale horses and other entertainment, thousands of people headed inside to gamble at MGM Springfield considered the first of its kind in ...

Tobacco-funded group starts Montana anti-initiative ad blitz

Business 08/26/18, 12:06

A group funded by the tobacco industry has launched a massive ad blitz against a ballot initiative to fund Montana's Medicaid expansion program and other health programs by raising the cigarette tax by $2 per pack and taxing vaping products for the first time. Montanans Against Tax Hikes booked air time ...

Prosecutors grant immunity to longtime Trump finance chief

Business 08/26/18, 12:05

He's one of the longest-serving employees in Donald Trump's family real estate business. Through triumphs, scandals and bankruptcies, he was there. Allen Weisselberg was handling the books when Fred Trump ran the company in the early 1970s. He was handling them when his son Donald made his mark with Trump Tower ...

Google takes on alleged Iranian influence campaign

Business 08/26/18, 12:04

Google announced Thursday it had disabled dozens of YouTube channels and other accounts linked to a state-run Iranian broadcaster for a political influence campaign. The security firm FireEye, which alerted tech companies to some of the suspicious activity, said in a report this week that the overall operation originates from Iran ...

Musk says investors convinced him Tesla should stay public

Business 08/26/18, 12:04

Electric car and solar panel maker Tesla Inc. will remain on the public stock exchanges after CEO Elon Musk said Friday that investors have convinced him the company shouldn't go private. The eccentric and sometimes erratic CEO wrote in a late-night statement that he made the decision based on feedback from shareholders, including ...

China Actively Targeting Critical Infrastructure in US; Railcar Manufacturers on List

China 08/14/18, 09:26

Commentary Labeled as critical infrastructure by the Department of Homeland Security, the manufacturing of freight railcars in the United States is an often overlooked but essential part of our nation’s transportation security apparatus. Businesses and government alike rely on America’s freight trains to transport upwards of 5 million tons of goods ...

Jeff Bezos Plans to Charge at Least $200,000 for Space Rides

Business 08/14/18, 08:50

SEATTLE—Jeff Bezos’ rocket company plans to charge passengers about $200,000 to $300,000 for its first trips into space next year, two people familiar with its plans told Reuters. Potential customers and the aerospace industry have been eager to learn the cost of a ticket on Blue Origin’s New Shepard space vehicle, ...

Impossible Goal? Startup to Stream Soccer to Net-Wary Italians

Business 08/14/18, 08:45

Sports-streaming startup DAZN has an ambitious business goal in Italy: Sign up 3–5 million customers, as many as the country’s largest pay-TV group, in a market with one of the worst broadband takeup rates in Europe. DAZN, whose British parent Perform Group is backed by billionaire investor Leonard Blavatnik, starts streaming ...

Maersk, IBM Say 94 Organizations Have Joined Blockchain Trade Platform

Business 08/14/18, 08:41

Shipping group Maersk said on Thursday 94 companies and organizations have so far joined a blockchain platform developed with IBM aimed at boosting efficiency and limiting the enormous paper trail of global container shipping. The industry has seen little innovation since the container was invented in the 1950s, and cross-border trade ...

Japan, US to Meet Again on Trade in September: Japan Economy Minister

Business 08/14/18, 08:38

WASHINGTON—Japan’s Economy Minister Toshimitsu Motegi said on Friday he had had productive trade talks with U.S. Trade Representative Robert Lighthizer and that they planned to meet again in September. He said both acknowledged the importance of expanding trade between the two nations. “We agreed to seek ways to promote Japan-U.S. trade by ...

Roundup Cancer Verdict Sends Bayer Shares Sliding

Business 08/14/18, 08:32

FRANKFURT—Bayer shares plunged as much as 14 percent on Monday, losing about $14 billion in value, after newly acquired Monsanto was ordered to pay $289 million in damages in the first of possibly thousands of U.S. lawsuits over alleged links between a weedkiller and cancer. After the verdict in favor of ...

Nissan’s Sports Car Strategy Rests on the Stable Genius of GT-R

Business 08/14/18, 08:28

The summer of 2008 was a fraught time for Porsche engineers. An all-new challenger bested many of its record track times on Germany’s Nurburgring, the car world’s unofficial arbiter of bragging rights. To make matters worse, it didn’t come from Munich or Maranello. It came from Japan. Nissan Motor Co. dubbed it the GT-R. ...

Amicus Sets $315,000 Price for New Fabry Disease Treatment

Business 08/14/18, 08:27

Amicus Therapeutics on Aug. 13 set an average price of $315,000 per year for its newly approved Fabry disease treatment, a price it believes is below that of the main existing treatment in the United States. Galafold—approved on Aug. 10 by U.S. regulators—is the first new Fabry disease treatment in the ...