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Business

NFL Owners Have Made Millions Off Obscure Tax Break

The tax code has been very, very good to sports team owners. A little-known tweak to IRS rules in 2004 has allowed new owners to write off nearly all of the purchase price of their teams against profits over 15 years. ...


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Equifax Says 2.5M Additional Individuals Potentially Victimized

Credit reporting agency Equifax (EFX) announced on Monday that an additional 2.5 million individuals were potentially compromised during the massive cyber breach earlier this year, bringing the grand total to 145.5 million. ...


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Qatar Signs $12 Billion Deal to Buy F-15 Jets From U.S.

Qatar's Ministry of Defense said on Wednesday the country signed a deal to buy F-15 fighter jets from the United States for $12 billion. The deal was completed despite the Gulf country being criticized recently by U.S. President Donald Tr...


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Legalized Cannabis May Be a Boon for McDonald's and Taco Bell

The munchies are driving up fast-food sales in states where marijuana is legal. Cannabis has been shown to increase users’ appetite, sending many customers of legalized dispensaries to fast-food chains, according to a new ...


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American Dream is Alive and Well for African Immigrant Entrepreneur

He was granted political asylum and wound up in the city of Minneapolis, where he stayed in low-income housing with old college friends who had emigrated from Zimbabwe. He recalls the first day he stepped on American soil: “It was a very beautiful day,” he says. “I was in downtown Minneap...


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Equifax Breach Exposes 143 Million People to Identity Theft

Credit monitoring company Equifax has been hit by a high-tech heist that exposed the Social Security numbers and other sensitive information about 143 million Americans. Now the unwitting victims have to worry about the threat of having their identities stolen. ...


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Four Companies Selected to Build Prototypes for Trump's Border Wall

As President Trump battles with Congress over funding, four companies have been selected by the federal government to build concrete prototypes of the president’s long-promised wall along the border with Mexico. U.S. Customs and Border Protection said T...


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Thiel-Backed Drug Firm Secretly Tested Herpes Vaccine Overseas

A U.S. drug company backed by President Trump supporter Peter Thiel secretly conducted human trials for a herpes vaccine on the Caribbean island of St. Kitts — and the local government is now investigating, according to a report. ...


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SEC Halts Trading in First Bitcoin Capital Shares

The Securities and Exchange Commission on Thursday temporarily suspended trading in shares of First Bitcoin Capital Corp. because of concerns about the accuracy and adequacy of public information on the Canadian company. The concerns relate to the value of the company’s assets and its cap...


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Airport Employee Punches Passenger Who Was Holding a Baby

Airport officials in Nice, France, have confirmed that an employee at the Nice Airport has been suspended after punching a passenger who was holding a baby at the time. The altercation took place on Saturday, as passengers waited to board an EasyJet fli...


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Wisconsin Company to Implant Microchips in Its Employees in August

A Wisconsin tech company says they are about to become the first business in the U.S. to offer microchip implants to its employees. Three Square Market (32M), a River Falls-based software design company, says starting August 1st, it will be offering microchips to all their employees. The ...


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WINNING: Shell Prepares for 'Lower Forever' Oil Prices

Royal Dutch Shell PLC laid out a pessimistic vision for the future of oil on Thursday, even as the company reported success in generating cash during a prolonged downturn. Shell has cut costs and said it is preparing for a world in which crude prices never return to precrash levels and pe...


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Microsoft's Quarterly Profit More Than Doubles

Microsoft Corp reported better-than-expected quarterly profit and revenue on Thursday, helped by strong performance in its fast-growing cloud business. Shares of the world's largest software company rose as much as 1.5 percent in after-hours trading, after touching a record high of $74.30...


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These 19 Retailers are Closing Hundreds of Stores in 2017

As Americans do more and more of their shopping on their devices instead of at the store, traditional retailers are reeling. Some are being forced to shrink — or go out of business altogether. Already 2017 has been a year of massive store closings, led by these chains. Among them: Gymboree, Payle...


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Anti-Trump Movement Doubles Down on Amazon Boycott

An anti-Trump movement is taking advantage of Prime Day to double down on its protest of Amazon.  The Grab Your Wallet moveme...


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Milo Yiannopoulos Sues Book Publisher for $10 Million

Outspoken former Breitbart editor Milo Yiannopoulos has filed a $10 million lawsuit against publishing house Simon & Schuster after it canceled his book deal. Yiannopoulos announced the lawsuit Friday in New York, just days after he self-published the Simon & Schuster-canceled mem...


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Pool Float's Design Raises Questions

People have a lot of questions about a pool float being sold by retailers across the country. Questions like, “Was one single woman consulted about this?” Sam’s Club advertises the Aquaria Pasadena Pool Float as having “a fun marbleized design.” ...


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United Airlines Gives 2-Year-Old's Seat Away to Standby Passenger

United Airlines requires children over the age of 2 to have their own tickets and occupy their own seats, but that didn’t stop the airline from allowing a 27-month-old child from sittin...


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Not Going to be an Astronaut? Skip College and Work in a Lumberyard

Sabastian Kleis, the son of a waitress from Rust Belt Ohio, was supposed to...


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Major Liberal Companies Paying Workers to Protest

Since the election, scores of activists have taken to the streets, town halls and rallies to blast President Trump. That’s all with the blessing of their boss thanks to social justice benefits and paid time off work policies that are growing in popularity. At San Francisco marketing firm ...


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COINCIDENCE? State AG Who Sued Trump Over His Businesses Just Happens to Have Stake in Business Related to Competitor

Last week, Attorneys General from Maryland and Washington, D.C. filed a lawsuit against President Donald Trump, targeting his business empire as violating the Constitution. The complaint alleged that Trump’s global empire violated the Emoluments Clause of the constitution, saying that money paid ...


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Analysts Were Wrong About the Gun Industry

Two years ago, the FBI reported that it conducted a record number of background checks on potential gun buyers in May, more than it had ever done before for that month. It would launch a 19-month-long streak that would culminate in more than 27.5 million background checks performed in 2016, 20% m...


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US Government Awards Millions to HPE, Intel, and Others in Hopes They’ll Build Next-Gen Supercomputers

To try and edge the United States ahead of other countries in the arms race of building supercomputers, the ...


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McDonald's Pulls Out of Olympics Sponsorship

McDonald's Corp ended its 41-year-old sponsorship of the Olympic Games three years early, the International Olympic Committee said on Friday, reflecting the U.S. fast-food giant's focus on its core business as well as rising Olympics sponsorship costs and declining TV ratings. McDonald's ...


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Tech Selloff Pulls Stock Market Lower

The Nasdaq Composite and the S&P 500 were lower on Monday as a bout of profit-taking squeezed the richly-valued technology sector. Technology stocks have led a record-setting rally on Wall Street, helped largely by strong quarterly ea...


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Toshiba to Pay $3.7 Billion to Keep Building U.S. Reactors

Toshiba Corp will contribute $3.68 billion to continue building two nuclear reactors in the U.S. state of Georgia, enabling the completion of a plant project begun by the Japanese conglomerate's now-bankrupt nuclear unit. Toshiba said in a statement on Saturday it had reached an agreement...


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IKEA Designers Will Live in a Mars Simulator to Seek Inspiration

The Swedish furniture giant has sent a group of its designers to live in a Mars simulator. They'll live there for seven days, an...


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SpaceX Will Launch a Secretive Space Drone for the Air Force

SpaceX fought hard for the right to launch Air Force projects and it has landed a pretty prestigious one. Elon Musk's company will fire the X-37B miniature spaceplane into orbit with the Falcon 9, taking over from the reliable Atlas V built by United Launch Alliance, according to Reuters...


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Dow Hits Record High as Comey Testimony Ends with No ‘Smoking Gun'

U.S. equities rose on Thursday as Wall Street interpreted former FBI Director James Comey's testimony as less damaging to President Donald Trump than feared. The Dow Jones industrial average gained about 55 points and reached a record high, with the Goldman Sachs and Boeing contributing t...


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United Accused of Flying Plane "Not in Airworthy Condition"

The FAA may slap United Airlines with a $435,000 penalty for flying a plane that was "not in airworthy condition" during 23 flights. Yes, they flew an airplane, with passengers on it, that was deemed to be "not in airworthy condition" 23 times! According to the FAA, United mechanics repla...


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Stock Market Hits All-time Highs

U.S. stocks traded higher on Thursday as Wall Street remained positive about the Federal Reserve's plan to trim its balance sheet, while tech stocks climbed. The S&P 500 reached an all-time intraday high at the open, rising above its previous record of 2,405.77. Informati...


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175 People Suing CNN For Racial Discrimination

Last December, CNN and other Time Warner units were hit with a proposed class action in Georgia federal court. The named plaintiffs include Celeslie Henley, who says she worked at CNN for seven years until she was allegedly fired after emailing human resources about discriminatory treatment. ...


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New Gander Mountain CEO Promises More Guns, Better Prices

Gander Mountain's new CEO promised Twitter followers over the weekend a bigger, better gun selection will come to the 70 or so stores slated to remain open after the company's nationwide liquidation sale. Marcus Lemonis, who's company Camping World paid $38 million for Gander Mountain...


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Guns Sales Down Since Trump Took Office

In the five months since Donald Trump was elected president, the FBI has undertaken 1.6 million fewer firearm background checks compared with the same period a year earlier, government statistics show, reflecting slower sales. While the FBI checks don’t exactly track firearm sales, they a...


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Investment Firm Selling U.S. Citizenship to Indians, Report Says

Indian nationals are being sold the prospect of a fast-track to U.S. citizenship through the scandal-plagued EB-5 visa just as the Trump Administration initiated an investigation into the H-1B foreign guest worker program. ...


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Why Snap Is Now One of the Most Hated Companies on All of Wall Street

In the matter of an hour on Wednesday evening, Snap Inc. (SNAP) managed to make itself one of the most hated companies on all of Wall Street.  Here's the very simple explanation on how it managed to pull off such an ...


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U.S., China agree to first trade steps under 100-day plan

The United States and China have agreed to take action by mid-July to increase access for U.S. financial firms and expand trade in beef and chicken among other steps as part of Washington's drive to cut its trade deficit with Beijing. The deals are the first results of 100 days of trade t...


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United Airlines Attempts Free Trip Giveaway That Quickly Backfires

United Airlines has been the subject of ongoing public scrutiny after multiple incidents between airline employees and passengers aboard its flights went viral. In what seemed an apparent ploy at generating positive buzz around its presently marred reputation, United Airlines created a viral camp...


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Aetna Dumps Obamacare Exchanges

Aetna Inc. will leave the few remaining states where it had been selling Obamacare plans next year, making it the latest health insurer to pull out of the health law as Republicans attack the program as failing and work...


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Goldman Sachs to launch new 'dark pool' for stocks on Friday

Goldman Sachs Group Inc <GS.N> will launch a new private stock-trading venue, known as a "dark pool," on Friday, that is run by exchange operator Nasdaq Inc <NDAQ.O>, according to a note to clients obtained by Reuters. Goldman has been refreshing its trading technology to beco...


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United Airlines Is Under Fire Yet Again

United Airlines has found itself needing to apologize again after sending a French woman 3,000 miles in the wrong direction.Lucie Bahetoukilae was recently headed from Newark, NJ to Charles de Gaulle airport in France, but United Airlines put her on a San Francisco-bound plane instead....


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