Author: Editor

Republican lawmakers pushing for the expansion of the state and local tax deduction in President Donald Trump’s economic package are slated to meet with House Speaker Mike Johnson to get specific about how much to increase the $10,000 cap on the write-off. The meeting, set for Wednesday afternoon, comes as Republicans are beginning to craft the tax cuts and spending reductions they plan to pass in the coming months.Representative Young Kim, a California Republican, said that Republicans “are still in negotiation” on how high to increase the dollar-limit on SALT deductions.Yet the meeting may be one of the most detail-oriented yet…

Treasury Secretary Scott Bessent said the European Union has some “internal matters” to sort out before the bloc can enter into trade negotiations with the U.S., singling out a tax on digital services levied by some countries.”We’re negotiating with a lot of different interests,” Bessent said Tuesday during a briefing at the White House. “Some of the European countries have put on an unfair digital service tax” on the U.S., he said.The U.S. has for years objected to moves by foreign countries that multiple administrations have argued unfairly target American technology giants like Amazon.com Inc. and Google owner Alphabet Inc.…

U.S. stocks are sinking following a discouraging report suggesting the U.S. economy may have shrunk at the start of the year, before most of U.S. President Donald Trump’s announced tariffs could take effect. Specialist Gregg Maloney works at his post on the floor of the New York Stock Exchange, Monday, April 28, 2025. (AP Photo/Richard Drew) Specialist Gregg Maloney works at his post on the floor of the New York Stock Exchange, Monday, April 28, 2025. (AP Photo/Richard Drew)Read More Christopher Lagana works on the floor at the New York Stock Exchange in New York, Wednesday, April 30, 2025. (AP…

Caterpillar said Wednesday it anticipates that tariffs may increase its second-quarter costs by up to $350 million as its first-quarter sales slipped on declining demand for its equipment.A lot of uncertainty remains over President Donald Trump’s trade war. On Tuesday Trump signed an order relaxing some U.S. tariffs on imports of autos and auto parts. But it remains unclear what impact Trump’s broader tariffs will have on the U.S. economyIn the first quarter, Caterpillar’s revenue dropped to $14.25 billion from $15.8 billion a year earlier. The performance fell short of the $14.54 billion that analysts surveyed by Zacks Investment Research…

Just because an SUV is small and inexpensive doesn’t mean it has to be as bland as plain oatmeal for breakfast. The 2025 Buick Envista and 2025 Nissan Kicks are two great examples. They look good, have surprisingly big interiors, and boast prices in the $20,000s regardless of trim level. That’s largely where the similarities stop, though. It all starts with their designs. The redesigned 2025 Kicks has the sporty vibe of a fashionable sneaker with vibrant two-tone color options. It’s fair to say it’s more youthful. The Envista definitely isn’t Grandma’s Buick. It has a coupe-like look that could…

TOKYO (AP) — Japan’s top automaker Toyota announced a partnership with U.S. autonomous driving technology company Waymo on Wednesday.The move was somewhat anticipated, as the use of such technology speeds up around the world, and Toyota Motor Corp. has been aggressive about its intention to stay on top of such advances.“Toyota is committed to realizing a society with zero traffic accidents and becoming a mobility company that delivers mobility for all. We share a strong sense of purpose and a common vision with Waymo in advancing safety through automated driving technology,” Toyota Executive Vice President Hiroki Nakajima said in a…

MENLO PARK, Calif. (AP) — Working to differentiate itself in the crowded field of artificial intelligence, Meta Platforms has launched a standalone AI app — with a social media component — to compete with OpenAI’s ChatGPT. The Meta AI app, built with the company’s Llama 4 AI system. It includes a “discover” feed that lets users see how others are interacting with AI. It also has a voice mode for interacting with the AI. “It’s smart for Meta to differentiate its ChatGPT competitor by drawing from the company’s social media roots. The app’s Discover feed is like a version of…

CFOs and other senior finance executives are feeling less optimistic about their business expansion plans as tariff worries increase in the U.S. and other parts of the world, according to a new survey.The survey, released Tuesday by Brex, polled over 500 senior finance executives at global enterprises in the first quarter of the year, and found optimism falling off sharply in recent months when it comes to growth.”Strong early-in-the-year optimism around growth, IPOs and M&As eroded sharply post-tariffs, with growth positivity alone dropping nearly 20 points,” wrote Brex president and CFO Ben Gammell. “Expansion plans have been replaced with calls…