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Citigroup Faces $20 Billion Hit From Tax Overhaul

Citigroup Faces $20 Billion Hit From Tax Overhaul

Citigroup finance chief John Gerspach said the bank is likely to take a hit of about $20 billion to profits under the tax plans recently passed by Congress.

Published 1 month ago

House Votes to Loosen Restrictions on Concealed Weapons

House Votes to Loosen Restrictions on Concealed Weapons

The House passed a bill to enable gun owners who legally carry concealed firearms in one state to carry them in the other 49 states, sending a major expansion of gun rights to the Senate, where it faces Democratic opposition.

Published 1 month ago

Volkswagen Manager Sentenced to Prison Term in Emissions-Fraud Case

Volkswagen Manager Sentenced to Prison Term in Emissions-Fraud Case

A Volkswagen manager was sentenced to seven years imprisonment and will pay a $400,000 fine for participating in the German auto giant’s emissions fraud.

Published 1 month ago

NFL Completes Commissioner Roger Goodell’s Contract Extension

NFL Completes Commissioner Roger Goodell’s Contract Extension

NFL commissioner Roger Goodell’s contract extension has been completed, bringing resolution to a hostile, weeks-long drama in which Dallas Cowboys owner Jerry Jones attempted to forestall the deal.

Published 1 month ago

Robert Iger Likely to Extend Tenure as Disney CEO Past 2019

Robert Iger Likely to Extend Tenure as Disney CEO Past 2019

Walt Disney Co.’s possible purchase of the entertainment assets of 21st Century Fox Inc. could mean more time for Robert Iger as chief executive of Disney.

Published 1 month ago

It’s Amazon’s World—But Do You Want to Live There?

It’s Amazon’s World—But Do You Want to Live There?

A reporter spent a week using products and services from Amazon.com Inc. and its partners almost exclusively and wondered: If you can buy everything from car parts to cleaning services to caviar in one online marketplace, will you miss shopping everywhere else?

Published 1 month ago

Bitcoin Tops $12,000 and Is Well on Its Way to $13,000

Bitcoin Tops $12,000 and Is Well on Its Way to $13,000

The price of bitcoin surged above $12,000 early Wednesday morning, the latest milestone in the cryptocurrency's massive rise.

Published 1 month ago

Trump Says U.S. Recognizes Jerusalem as Israel’s Capital

Trump Says U.S. Recognizes Jerusalem as Israel’s Capital

President Donald Trump announced that the U.S. is recognizing Jerusalem as Israel’s capital, and said the recognition is in the U.S. interest and the interest of Middle East peace.

Published 1 month ago

Democratic Senators Call for Al Franken to Resign Amid Sexual Misconduct Allegations

Democratic Senators Call for Al Franken to Resign Amid Sexual Misconduct Allegations

A group of Democratic Senators have called For Al Franken to resign, citing sexual misconduct allegations. Mr. Franken, a Minnesota Democrat, has said he will cooperate with an ethics probe.

Published 1 month ago

Wall Street’s Fracking Frenzy Runs Dry as Profits Fail to Materialize

Wall Street’s Fracking Frenzy Runs Dry as Profits Fail to Materialize

The shale-oil revolution boosted production and made America the world’s oil-and-gas champion. Now, shareholders are insisting producers start focusing on returns for a change.

Published 1 month ago

Emails Illuminate Redstones’ Family Tensions and War for Viacom

Emails Illuminate Redstones’ Family Tensions and War for Viacom

Emails cited in a California court case shed new light on Shari Redstone’s battle with top Viacom Inc. executives and tensions with her father, media mogul Sumner Redstone.

Published 1 month ago

Wal-Mart’s New Name: It’s Not Just a Store Anymore

Wal-Mart’s New Name: It’s Not Just a Store Anymore

Wal-Mart Stores Inc. said it will shorten its legal name to Walmart Inc., highlighting the company’s shift away from building traditional stores toward competing online with rival Amazon.

Published 1 month ago

GM’s Latest Weapon in Pickup Truck Wars: Carbon Fiber

GM’s Latest Weapon in Pickup Truck Wars: Carbon Fiber

General Motors plans to use costly but lightweight carbon fiber to make the beds on premium versions of large pickup trucks, according to people familiar with the strategy, as the auto maker aims to stay competitive in the crucial category while also satisfying tightening fuel-economy standards.

Published 1 month ago

Apple’s Tim Cook: No Point Yelling at China

Apple’s Tim Cook: No Point Yelling at China

Apple Inc. Chief Executive Tim Cook defended his company’s move to pull hundreds of apps from its China store to comply with Beijing’s demands.

Published 1 month ago

Socialism, Capitalism Seen in New Light by Younger Americans

Socialism, Capitalism Seen in New Light by Younger Americans

Surveys of America’s youngest voters find a rising appeal of socialism, skepticism about capitalism and a more socially conscious outlook that has ramifications for politics and business.

Published 1 month ago