Business

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Powell backs more rate hikes as economy growing 'considerably stronger'

The U.S. economy is running at a fast enough pace to justify continued interest rate increases, Federal Reserve Chairman Jerome Powell said …

Federal Reserve

Japan-EU trade deal 'light in darkness' amid Trump's protectionism

The EU and Japan say approval of the world’s largest bilateral free trade deal shines a “light in the darkness” of global political uncertainty.<p>Japan’s prime minister, Shinzo Abe, and the EU leaders Donald Tusk and Jean-Claude Juncker sought to establish themselves as the flag-bearers of the free …

Europe

States Sue IRS, Treasury To Strike Down SALT Cap Under New Tax Law

In the days following tax reform, leaders in some states complained loudly about feeling targeted by deduction caps imposed on state and local taxes (SALT). Now they’ve taken action. Today, four states (Connecticut, Maryland, New Jersey, and New York) filed a lawsuit in federal court to strike down …

Income Tax

Texas Instruments CEO resigns over 'personal behavior'

Texas Instruments says its CEOhas resigned because of personal behavior that violated the company's code of conduct.<p>Brian Crutcher, a 22-year veteran of the company, just took over as CEO last month.<p>"The violations are related to personal behavior that is not consistent with our ethics and core …

Texas Instruments

Goldman’s President, David Solomon, to Become C.E.O. on Oct. 1

Goldman Sachs on Tuesday named David M. Solomon as its next chief executive officer, putting a veteran investment banker in charge of a Wall Street giant that faces mounting challenges.<p>Mr. Solomon’s appointment will end the tenure of Lloyd C. Blankfein, the 63-year-old former gold salesman who has …

Markets

Walmart might get into the crowded video-subscription business

Walmart is considering a subscription video-streaming service, <i>The Information</i> reports, that could be set up as a rival to Netflix and Amazon Prime Video. Sources familiar with the company's discussions about the prospect told the publication that such a service, if launched, could be priced to …

Amazon Video

Netflix is preparing for a future where its content is mostly its own

Netflix claims it wasn’t caught off guard last summer when Disney said it would soon stop sending new movies like <i>The Incredibles 2</i> and <i>Avengers: Infinity War</i> to the streaming-video platform. It says it had been preparing for that eventuality since 2013, when it released <i>House of Cards,</i>its first …

Queer Eye

Cramer Remix: Make yourself at home in this stock

Jim Cramer reveals why Williams-Sonoma is in a sweet spot in the home goods space.

Williams-Sonoma

Cramer's lightning round: Business at Illinois Tool Works isn't as bad as the stock suggests

Jim Cramer flies through his take on callers' favorite stocks, including a toolmaker that's out of step with its stock.

Lightning

Cramer's charts suggest big-name biotech stocks Gilead and Celgene have more room to run

Jim Cramer and technician Bob Lang inspect the charts to see if big-cap biotechnology stocks like Gilead and Celgene could have more room to run.

Biotechnology

Ocean Resort Casino joins New Jersey internet betting market

ATLANTIC CITY, N.J. (AP) — New Jersey's thriving internet gambling market continues to grow.<p>The Ocean Resort casino was cleared for full internet gambling operations on Sunday.<p>The state Division of Gaming Enforcement completed testing and evaluating its systems and approved it to offer online …

New Jersey

Boeing's Faith in Air Freight Pays Off With $18 Billion in Sales

Boeing Co. stood by the air-cargo market during a withering downturn a decade ago, and that decision is paying off handsomely now.<p>The U.S. planemaker …

Aviation

Univision executive Isaac Lee exits amid company changes

Univision's chief content officer is leaving his post to start his own production company, the Spanish language broadcaster announced on Tuesday.<p>Isaac Lee became known for his role in shepherding Univision's move into digital and English content. He was often quoted extolling the importance of …

Media Industry

Coal executive: Trump falling short on energy policy, but it's not his fault

President Donald Trump still isn't achieving all his goals in undoing the Obama administration's energy policies, coal mining executive Bob Murray said Tuesday — but he doesn't blame Trump and his appointees.<p>"I do not believe that they have been as effective as they could be," Murray said at the …

Donald Trump

An assumed ‘Treasury put’ may have doomed Puerto Rico bond investors

For years, bond investors snatched up debt issued by the Puerto Rican government, even as the island’s economic and fiscal situation deteriorated. …

Caribbean

Insurers And Government Are Slow To Cover Expensive CAR-T Cancer Therapy

Patients whose blood cancers have failed to respond to repeated rounds of chemotherapy may be candidates for a new type of gene therapy that could send their cancers into remission for years. But the two approved therapies, with price tags of hundreds of thousands of dollars, have roiled the …

Health Care

FCC Chief Pai Unexpectedly Slams Sinclair Deal for Tribune

Federal Communications Commission Chairman Ajit Pai rocked prospective merger partners Sinclair and Tribune Monday.<p>Pai, who did not bat an eye at …

Net Neutrality

NAACP lifts travel advisory against American Airlines

WASHINGTON (AP) — The NAACP is lifting its travel advisory against American Airlines, saying the company is making improvements that address worries about African-Americans being subject to discrimination or even unsafe conditions while flying.<p>NAACP President Derrick Johnson made the announcement …

American Airlines

Gap Sues Westfield Over Mall Expenses as Tensions Rise in Retail World

Gap Inc. is suing high-end-mall operator Westfield for allegedly overcharging the fashion retailer in an action that underscores the sometimes-tense relationship between landlords and tenants as e-commerce transforms the retail sector.<p>Other well-known U.S. retailers, such as Starbucks and Saks …

Real Estate

ECB shouldn't tie its hands too early on policy: Rehn

HELSINKI (Reuters) - The European Central Bank should not tie its hands too early when it comes to future monetary policy decisions but look instead at how the economy pans out, Finland's new central bank governor Olli Rehn told Reuters on Tuesday.<p>The ECB said last month it expects to end its 2.6 …

Economic Data

Fed's Powell: Years of strong jobs, low inflation still ahead

WASHINGTON (Reuters) - Federal Reserve Chairman Jerome Powell said on Tuesday he sees the United States on track for years more of steady growth, but was challenged in a congressional hearing by senators worried the Trump administration's trade policies were already damaging businesses in their …

Economy

Trump to host European Commission president amid trade spat

WASHINGTON (AP) — President Donald Trump will meet with the president of the European Commission next week at the White House, days after labeling the European Union a "foe" of the United States.<p>White House press secretary Sarah Sanders says President Jean-Claude Juncker will meet with Trump at the …

Donald Trump

World's best airlines for 2018 announced by Skytrax

<b>(CNN) —</b> After 10 years in the wilderness -- if a premium airline that flies direct to more than 60 destinations can truly experience a wilderness -- Singapore Airlines is back on top.<p>The Asian carrier was named Airline of the Year at the 2018 Skytrax World Airline awards, an honor it last held in …

In-flight Entertainment

Treasury moves to protect identities of 'dark money' political donors

The U.S. Treasury said on Monday that it will no longer require certain tax-exempt organizations including politically active nonprofit groups, such …

Taxes

Baxter declares $0.19 dividend

Baxter (NYSE:BAX) declares $0.19/share quarterly dividend, in line with previous.<p>Forward yield 1.03%<p>Payable Oct. 1; for shareholders of record Aug. …

Investing

Homegirl Cafe offers 'platos' by ex-gang members with hope

LOS ANGELES (AP) — In a different time, at another place, and under other circumstances, you might have run away from Latisha Valenzuela and Glenda Alvarenga. But at Homegirl Cafe, a Los Angeles breakfast and lunch spot with a Latino twist, the two waitresses welcome you with smiles and …

Los Angeles

States sue U.S. to void state and local tax deduction cap

NEW YORK (Reuters) - Four U.S. states sued the federal government on Tuesday to void the new $10,000 cap on federal deductions for state and local taxes included in President Donald Trump's 2017 tax overhaul.<p>The lawsuit by New York, Connecticut, Maryland and New Jersey came seven months after Trump …

Judiciary

The 25 Best Workplaces in New York

The thought of working in New York and its surrounding areas may make some think of an unrelenting rat race. But there are plenty of employees who …

Employee Engagement

Netflix Bulls on Wall Street Aren't Giving Up on Stock Just Yet

Netflix Inc.’s disappointing second-quarter report has raised surprisingly few alarms on Wall Street even as the shares tumbled 13 percent in …

Markets

VC Firm Andreessen Horowitz Promotes Connie Chan to General Partner

Venture firm Andreessen Horowitz has promoted Connie Chan to general partner with a focus on consumer investments.<p>Chan, a partner who joined as an …

Venture Capital

JPMorgan starts offering of exchangeable bonds into Ping An Insurance

JPMorgan Chase (NYSE:JPM) launches offering of $350M of cash-settled exchangeable bonds due 2020; the bonds are referable to H-shares of Ping An …

JPMorgan Chase

Lab-grown meat could be in restaurants in 3 years

BERLIN (AP) — A Dutch company that presented the world's first lab-grown beef burger five years ago said Tuesday it has received funding to pursue its plans to make and sell artificially grown meat to restaurants from 2021.<p>Mosa Meat said it raised 7.5 million euros ($8.8 million), mainly from M …

Agriculture

Tesla sinks after Musk tweets, again

Stop us if you’ve heard this before.<p>Shares of Tesla took a nosedive Monday after CEO Elon Musk came under fire, and some market forecasters see …

Tesla

Blood Pressure Medications Recalled Over Cancer Fears

Some drugs used to control high blood pressure and prevent heart failure were voluntarily recalled this past week due to an impurity that could …

High Blood Pressure

Goldman Sachs Beats, But Equity Trading Weak; Solomon Named CEO

<b>Goldman Sachs</b> (GS) on Tuesday beat second-quarter earnings forecasts and said that CEO Lloyd Blankfein would leave that post on Sept. 30 and be …

Markets

Ford Will Pay $300 Million to Put the Takata Airbag Nightmare Behind It

Ford Motor has agreed to pay $299.1 million to settle consumers’ economic-loss claims connected to Takata air-bag recalls.<p>The settlement, filed in …

Takata

Corona's parent sharpens pitch to Hispanic drinkers

Constellation Brands wants to strengthen its appeal to Hispanic drinkers.<p>The distributor of Corona, Modelo Especial, and Pacifico bought Four Corners Brewing last week. Corona President Bill Newlands said Four Corners has been able to capitalize on a hot beer trend: Hispanic-influenced …

Beer

CVS fires two employees involved in police calls over black woman’s 'fraudulent' coupon

Video showing a CVS manager trembling on a 911 call was reportedly the result of an argument over a coupon.<p>Camilla Hudson posted the video to Facebook after she said managers at a CVS in Chicago claimed her coupon for a free product was "fraudulent." She also posted a photo of the coupon and the …

Women of Color

J&J beats quarterly expectations on drug sales surge, shares jump

(Reuters) - Johnson & Johnson on Tuesday reported better-than-expected second quarter profit as sales of pharmaceuticals surged 20 percent despite a sharp decline in blockbuster arthritis drug Remicade, and its shares rose more than 4 percent.<p>The healthcare conglomerate also expressed confidence …

Johnson & Johnson

A Prime Day Surprise: Amazon Strikes Continue to Spread Across Europe

It’s Christmas in July for Amazon, but during its 36-hour Prime Day promotion, warehouse workers across Europe are striking.<p>Chief executive Jeff …

Europe