Business

Business

Many companies pivot to bonuses, not raises, after new tax cuts

(c) 2018, The Washington Post. On Wednesday, yet another company -- this time Apple, which pledged to give $2,500 restricted stock awards for most of its employees, in addition to investing $350 billion in the U.S. economy -- joined the ranks of employers offering bonuses in the wake of the new U.S....


Business

Financial Markets Glance

Dow Jones Industrials High: 26,153.42 Low: 25,947.32 Close: 26,017.81 Change: —97.84 Other Indexes Standard&Poors 500 Index: 2798.03 —4.53 NYSE Index: 13,315.91 —36.48 Nasdaq Composite Index: 7296.05 —2.23 NYSE Amer Composite: 2690.86 —24.07 Russell 2000 Index: 1576.73 —9.93 Wilshire 5000 TotalMkt:...


Business

KKR, Blackstone face demand to reveal secrets in black box suit

(c) 2018, Bloomberg. A group of lawyers in a Kentucky lawsuit is pressing to shed light on information that Wall Street managers have fought for years to keep under wraps. The move seems to be a warning that lawyers supported by former class-action kingpin William Lerach intend to use hardball...


Business

US stocks can't hold gains after hitting records

(c) 2018, Bloomberg. U.S. stocks dipped one day after racing to all-time highs. The yield on 10-year Treasuries climbed above 2.6 percent for the first time since March, while the dollar failed to hold the previous day’s gain. Most major equity gauges were lower, led by weakness in real estate,...


Business

HSBC to pay $100 million to end U.S. currency-rigging probe

(c) 2018, Bloomberg. HSBC Holdings has agreed to pay $100 million in penalties to resolve a U.S. Justice Department investigation into the rigging of currency rates, according to a person familiar with the matter, part of a probe that has already led to the conviction of one of its former bankers...


Business

Amazon has a plan to become profitable: advertising

(c) 2018, Bloomberg. For more than two decades, Jeff Bezos has famously sacrificed profit for growth, persuading Wall Street that Amazon.com was best served pouring money into the logistical nuts and bolts that have turned his company into the Wal-Mart of the web. More recently, investors have...


Business

Nestle debuts natural ruby chocolate in KitKat-crazed Japan

(c) 2018, Bloomberg. Nestle SA will sweeten Japan’s Valentine’s Day with ruby-chocolate KitKats, choosing one of the world’s most candy-obsessed markets for the debut of the first new type of natural chocolate in more than 80 years. Nestle struck a deal with Zurich-based Barry Callebaut, the...


Business

Free checked baggage in basic economy may soon be a memory

(c) 2018, Bloomberg. Delta Air Lines will soon demolish a travel shibboleth that dates back decades. The airline’s introduction of its “basic economy” fares across the Atlantic will herald the end of free checked bags for international travelers who choose the lowest price. Starting April 10, Delta...


Business

Inflation exceeds Fed's 2 percent target in West's booming cities

(c) 2018, Bloomberg. Janet Yellen said last month her main unfinished business as chair of the Federal Reserve was getting inflation back to the central bank’s 2 percent target. A return to her former home in the San Francisco Bay Area would solve that. Metropolitan areas in the western U.S., those...


Business

Tax law gives unexpected break to farmers who sell to co-ops

Tax Overhaul Farmers

MINNEAPOLIS (AP) — Key senators and farm groups are trying to fix a provision in the federal tax overhaul that gave an unexpected tax break to farmers who sell their crops to cooperatives rather than regular companies. Lawmakers say they didn’t intend to give a competitive advantage to co-ops. But...


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