United Airlines <UAL.N> on Wednesday said its third-quarter net income fell by a third to $669 million from the year-ago period, partly due to $185 million in pretax losses caused by canceled flights during the Atlantic hurricane season. Continue Reading Below The Chicago-based carrier’s passenger revenue per available seat mile, […]
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Stock market crash inevitable, financial historian says
A market crash similar to the infamous Black Monday crash in 1987 — in which stocks around the world plummeted, and the Dow Jones Industrial Complex fell by more than 500 points — could be in the United States’ future, financial historian John Steele Gordon warned. Continue Reading Below “It […]
Bootleg Libyan oil, shady havens: Slain reporter’s beats
ROME – Malta, a tiny archipelago nation in the southern Mediterranean, is so attractive to those looking to shelter funds or operate under the radar of authorities that it’s got a nickname to prove it: “treasure island.” Continue Reading Below Malta’s reputation as a tax haven, its cozy links with […]
US stocks on course for higher close, new records
U.S. stocks moved modestly higher in afternoon trading Wednesday, on course for the major stock indexes to set new records. Technology stocks and banks were among the biggest gainers as investors weighed the latest batch of company earning news. IBM surged on strong quarterly results. Crude oil prices edged higher […]
Corporations to keep tax break lost by millions of Americans
WASHINGTON – Millions of Americans would lose a prized tax break under President Donald Trump’s sweeping revamp of the tax code, but corporations would get to keep it. Continue Reading Below The Republican proposal would eliminate the federal deduction for state and local taxes, a widely popular break used by […]
Latest: Analyst: Refinery fire unlikely to affect gas prices
EL SEGUNDO, Calif. – The Latest on a refinery fire near Los Angeles (all times local): Continue Reading Below 10:40 a.m. A petroleum industry analyst says a fire that erupted at the West Coast’s largest oil refinery is unlikely to have an effect on gas prices. No injuries were reported […]
Minnesota submits low-budget bid for Amazon
ST. PAUL, Minn. – Minnesota filed its bid for Amazon’s second headquarters on Wednesday, hoping to get a great deal on a mammoth development plum by offering a package of financial incentives likely far smaller than other states. Continue Reading Below State officials and regional economic development agencies spent more […]
US allies air concerns about Trump’s ‘Buy American’ order
GENEVA – Israel, Hong Kong and Taiwan joined a number of U.S. allies at the World Trade Organization on Wednesday to express concerns over a Trump administration executive order that calls on U.S. authorities to “maximize” use of American-made goods, products and materials in government procurement. Continue Reading Below The […]
Trump: US faces ‘once in a lifetime opportunity’ on taxes
WASHINGTON – President Donald Trump says the nation faces a “once in a lifetime opportunity” to overhaul the tax system. Continue Reading Below Trump spoke during a White House meeting with a group of senators. The president is convening Republicans and Democrats from the tax-writing Senate Finance Committee to build […]
Kentucky seeks big pension changes to stem tide of red ink
FRANKFORT, Ky. – Most of Kentucky’s future public employees would not get guaranteed pension payments under a deal announced Wednesday by the state’s Republican leaders who are trying to salvage one of the worst-funded public retirement systems in a country where many such plan are awash in red ink. Continue […]