Biden budget aims to cut deficits nearly $3T over 10 years
The proposal would seek to close the “carried interest” loophole that allows wealthy hedge fund managers and other to pay their taxes at a lower rate.
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U.S. probes Tesla Autopilot, steering wheels that can come off
The National Highway Traffic Safety Administration has been scrutinizing Teslas more intensely, seeking several recalls and opening investigations.
As bourbon booms, thirst for rare brands breeds skullduggery
The best bourbons are buttery, smooth and oaky, and a growing cult of aficionados is willing to pay an astonishing sum to score even a shot of these premium spirits. Some are even willing to bend or break laws.
Powell says ‘no decision’ on size of Fed’s next rate hike
Jerome Powell’s more nuanced remarks Wednesday appeared to be an effort to quell any assumption that the Fed has already decided to raise rates more aggressively based on a recent string of data that pointed to strong economic growth and still-high inflation.
U.S. job openings dip, but remain high at 10.8 million
For 20 straight months, employers have posted at least 10 million openings—a level never reached before 2021 in Labor Department data going back to 2000.
Fed’s Powell signals increased rate hikes if economy stays strong
Jerome Powell’s comments reflect a sharp change in the economic outlook since the Fed’s most recent policy meeting in early February.
Safety agency opens probe of Norfolk Southern rail accidents
Federal investigators are opening a wide-ranging investigation into one of the nation’s biggest railroads following a fiery derailment on the Ohio-Pennsylvania border last month and several other accidents involving Norfolk Southern.
U.S. sues to block JetBlue from buying Spirit Airlines
The Justice Department said the $3.8 billion acquisition would hurt cost-conscious travelers who depend on Spirit to find cheaper options than they can find on JetBlue and other airlines.
Biden proposes new taxes on rich to help fund Medicare
The proposed hike would likely increase tax revenues by more than $117 billion over 10 years, according to estimates by the Tax Policy Center.
Powell: Rate hikes could accelerate if economy stays strong
Most economists and Wall Street investors had expected the Fed to carry out another quarter-point increase when it next meets March 21-22. But in recent days, traders have been pricing in a greater likelihood of a half-point increase.
Bank sues to block Biden’s pause on student loan payments
SoFi Bank argues the moratorium has no legal basis and has cost the bank, known for its refinancing business, millions of dollars in profits.
Twitter hit by glitches as links, images fail to load
The company experienced an uptick of instability and bugs in recent months after new owner Elon Musk cut its staff sharply.
Marcus Ericsson wins rough IndyCar season-opening race
Jack Harvey was taken to a hospital and Helio Castroneves needed an ice pack and X-rays. A pair of cars went airborne, the leaders crashed into each other and the entire Andretti Autosport fleet was eliminated.
Biden expected to tighten rules on U.S. investment in China
The expected action is the latest effort by the White House to target China’s military and technology sectors at a time of increasingly fraught relations between the world’s two biggest economies.
Amazon pauses construction on 2nd phase of HQ2 campus in Virginia
The company has already hired more than 8,000 employees in the Arlington, Virginia, area and will welcome them to Met Park campus, the first phase of development, when it opens this June.
Toxic ‘forever chemicals’ about to get their first US limits
But experts say removing them will cost billions, a burden that will fall hardest on small communities with few resources.
Biden pushes for $1.6B funding for pandemic fraud measures
The White House is calling for money and more time to prosecute cases, to put into place new ways to prevent identity theft and to help people whose identities were stolen.
Ex-U.S. Rep. Buyer of Indiana goes on trial over stock buys
The former representative for Indiana’s 4th Congressional District is accused of illegally garnering stock windfalls by exploiting his consulting clients’ corporate secrets years after he left Congress.
New NCAA president says NIL rules could protect athletes
As Charlie Baker takes over as president of the Indianapolis-based NCAA, he brings a different way of thinking about one of the more important and most polarizing issues in college athletics: regulating how college athletes monetize their fame.
Ohio senators ready rail safety bill after fiery crash
Railroads like the one involved in last month’s fiery crash and toxic chemical release in Ohio would be subject to a series of new federal safety regulations and financial consequences under legislation being introduced Wednesday by the state’s two U.S. senators.