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The GOP tax reform plan unveiled Wednesday would lead to broad reinvestment in manufacturing, according to a survey of American producers released Friday. “Two-thirds of manufacturers said, specifically, that if we get this tax plan through, they’ll invest in new plants and equipment, and hire new workers,” Jay Timmons, CEO of the National Association of
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Andrew Harrer | Bloomberg | Getty Images Travelers wait in line before going through Transportation Security Administration screening at Ronald Reagan National airport in Washington, D.C. The days of rock-bottom Thanksgiving airfares are over. Roundtrip domestic U.S. flights are about 13 percent more expensive this year than in 2016, fetching about $325 on average as
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Peter Altmaier, German Chancellor Angela Merkel’s chief of staff, will take over as acting finance minister from Wolfgang Schaeuble when he leaves office, German newspaper Sueddeutsche Zeitung reported on Friday. It said, without citing its sources, that Merkel had made the decision. On Wednesday 75-year-old veteran conservative Schaeuble agreed to become president of the parliament
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The U.S. Federal Aviation Administration said Thursday it was restricting drone flights over 10 U.S. landmarks, including the Statue of Liberty and Mount Rushmore at the request of national security and law enforcement agencies. The FAA and U.S. Interior Department said they would restrict drone flights up to 400 feet within the boundaries of the
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Built using technology from the existing Orion spacecraft, the lander has an edge against other competitors’ proposals: its single-stage reusability. Chambers says that developing a vehicle that could both land and lift off means “developing one less system,” which cuts costs. “We think you shouldn’t invent anything new if you don’t need to,” Chambers said.
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A spokesperson for AIR Worldwide told CNBC the catastrophe-modeling firm conducted an earthquake model analysis and found simulated events impacting California could result in “upwards of $300 billion in total ground-up losses to properties.” An analysis by CoreLogic, a global data analytics firm, specifically looked at a large quake along the San Andreas Fault and
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A spokesman for Quebec’s transport minister said the province would not budge on new rules requiring drivers to undergo 35 hours of training and to have their criminal background checks validated by Quebec police instead of third parties. During the pilot, Uber drivers were ticketed for not identifying their vehicles, driving cars that were too
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China is “quite serious about living up to the commitments they have made regarding North Korea,” U.S. Commerce Secretary Wilbur Ross said on Wednesday. The order for Chinese lenders to implement United Nations sanctions against North Korea “is a logical next step in the sanctions, and a very important one,” he continued. “Chinese commercial banks
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South Korea and Rwanda have also both suffered under colonial rule and experienced devastating conflict following independence: the Korean war of the early 1950s and Rwanda’s 1994 genocide against the Tutsi tribe. “This shared experience in modern history strikes a chord with Korean people,” Lee said. Rwandans in turn look towards South Korea’s “quick recovery
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Uber Chief Executive Dara Khosrowshahi admitted the firm “got things wrong” Monday in a plea to London after the ride-hailing app was stripped of its license to operate in Britain’s capital city. “While Uber has revolutionized the way people move in cities around the world, it’s equally true that we’ve got things wrong along the
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There’s a domestic dairy glut that’s so bad it’s led some American farmers to spill milk. National milk production is increasing faster than the processing capacity. Another challenge facing the industry is total per capita consumption of fluid milk has been steadily falling for some time because of competition from other beverages and because the
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Orville Redenbacher’s popcorn owner, Conagra Brands, is acquiring Angie’s Artisan treats, maker of Angie’s Boomchickapop popcorn, the company announced Friday. “Adding the Angie’s Boomchickapop brand to Conagra’s portfolio is another important step in our ongoing plan to modernize our portfolio and accelerate growth,” CEO Sean Connolly said in a statement. The deal was first reported
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Finish Line shares rebounded Friday after tumbling more than 11 percent at one point in early trading. The athletic footwear market became “much more promotional” in July and August, which pressured the retailer’s second-quarter sales and gross margins, CEO Sam Sato told analysts and investors Friday. He said he expects Finish Line’s sales and margin
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Check out which companies are making headlines before the bell: T-Mobile — T-Mobile is close to agreeing to tentative terms on a deal to merge with its telecom peer, Sprint, Reuters reported on Friday. Japan’s SoftBank, which controls Sprint, would reportedly own between 40 to 50 percent of the combined company. A deal is expected
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London stripped Uber on Friday of its license to operate from the end of September in a huge blow to the taxi app that will affect more than 40,000 drivers in one of the world’s biggest cities. “Uber’s approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which
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Orville Redenbacher’s popcorn owner Conagra Brands is nearing a deal to buy Angie’s Artisan treats, maker of Angie’s Boomchickapop popcorn, sources familiar with the matter said on Thursday. The potential deal comes as sales of big food companies have slowed, with their staples replaced by upstart — often healthier or fresher — brands. The people
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Tesla will discontinue its cheapest Model S, the rear-wheel-drive 75, on Sunday, Tesla has confirmed to CNBC. Tesla first announced in July that it would discontinue the rear-wheel model. The company is shifting to an all-wheel-drive lineup for the Model S to simplify its product offering. The Model S rear-wheel version started at just over
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