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Trump seeks tax windfall for business
President Donald Trump is to propose slashing the rate of corporation tax when he announces his tax plan later.
White House officials say the centrepiece of Wednesday's announcement will be a sharp reduction in the business tax rate, from 35% to 15%.
Economists say the tax cuts will add trillions of dollars to the deficit over the next decade.
But Treasury Secretary Steven Mnuchin has sai... |
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GM says Venezuelan car plant is seized by government
General Motors has said its Venezuelan car plant has been seized by the government as political tension rises in the country.
Long-standing divisions in Venezuela have been brought to the fore by a deepening economic crisis.
GM said its Venezolana plant in the city of Valencia had been "unexpectedly taken by the public authorities".
The US car giant said it would "take all legal actions" ... |
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Toshiba may sell chip business to Foxconn for $27bn
Taiwan manufacturer Foxconn has signalled it could mount a $27bn (£21.7bn) bid for Toshiba's chip business, according to reports.
Toshiba has put part or all of its valuable memory chip unit up for sale to plug a gaping hole in its finances.
Foxconn's potential bid is much higher than analysts' $18bn valuation for the business, Bloomberg and the Wall Street Journal reported.
At least one ... |
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Boeing's new 787-10 Dreamliner completes its maiden flight
Boeing celebrated the first flight of its 787-10, the newest and biggest variant yet of its “Dreamliner” widebody aircraft.
Boeing completed the milestone flight on Friday at around 2:35 p.m. ET. The aircraft had been in the air for a little more than five hours after taking off around 9:30 a.m. ET.
The event came at Boeing’s assembly line in North Charleston, S.C., where a large crowd of em... |
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10 tax breaks every parent needs to know
Raising a child is expensive, but it can also be rewarding come tax time.
Starting a family isn't cheap. According to a report issued by the Department of Agriculture in early January, a middle-income married couple with two children is estimated to spend $233,610 to raise a child born in 2015. Keep in mind that this cumulative expense only covers the cost to raise a child through age 17, meani... |
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Peugeot 'set to unveil deal to buy GM's Opel on Monday'
France's PSA Group, maker of Peugeot and Citroen cars, has reached a deal with General Motors to buy its Opel and Vauxhall brands, according to reports.
PSA's board agreed the deal on Friday, and an official announcement is planned for Monday, said Reuters, citing unnamed sources.
News that the two companies were in talks emerged last month raising fears that the deal could lead to job losse... |
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How drug development is speeding up in the cloud
Developing a drug from a promising molecule to a potential life-saver can take more than a decade and cost billions of dollars.
Speeding this process up - without compromising on safety or efficacy - would seem to be in everyone's interests.
And cloud computing is helping to do just that.
"Cloud platforms are globally accessible and easily available," says Kevin Julian, managing director at Acc... |
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Trump signs legislation to scrap Dodd-Frank rule on oil extraction
President Trump signed his first legislation Tuesday, scrapping an anti-corruption measure that requires oil and mining companies to disclose their payments to foreign governments.
“This is a big signing, very important signing," Trump said in the Oval Office as he signed the legislation. "We're bringing back jobs big league. We're bringing them back at the plant level. We're bringing them back... |
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GM's US workers to get $12,000 bonus
Workers paid hourly at General Motors in the US will receive bonuses of $12,000 (£9,700) after the firm made a profit of $12bn in North America.
The United Automobile Workers union negotiated a profit sharing deal in 2011.
It is worth up to $1,000 per $1bn of profit the company makes in the continent.
However, net profit for the whole of GM dropped 2.7% last year to $9.43bn after foreign ... |
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Lady Liberty to be black woman on new US $100 coin
The US Mint and Treasury will for the first time issue a commemorative coin depicting Lady Liberty as a black woman.
The coin commemorates the Mint's 225th anniversary and shows Liberty with a crown of stars and a toga-like dress.
The 24-carat coin will weigh 20g (1oz) and have a face value of $100 (£80).
The US Mint says it plans to issue further coins depicting Liberty as women from eth... |
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