Business News

Apr 27, 5:49 PM EDT

Business Highlights


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Trump finds that CEO-as-president isn't always a natural fit

WASHINGTON (AP) - Donald Trump won the White House by arguing that what America needed was a president who had proved himself as a steely and successful corporate leader with no political baggage - someone, say, like himself. Yet 100 days into Trump's presidency, the businessman-as-president has struggled to apply his experience as a real estate and entertainment mogul to the Herculean task of governing the world's most powerful nation.

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Trump tax plan stands to benefit the man in the White House

WASHINGTON (AP) - Among the likely winners in President Donald Trump's tax-cut plan would be a real estate developer turned reality TV star who now happens to occupy the White House. The one-page plan released Wednesday sure appears to benefit the president's businesses.

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Retailers and insurers get taxed more, tech less

NEW YORK (AP) - A look at which major U.S. companies pay the most tax and which pay the least. Retailers and health insurer tend to pay more taxes than other companies because they do almost all their business in the U.S., where tax rates are higher.

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Trump's gyrations on NAFTA cause a flurry of head-scratching

WASHINGTON (AP) - President Donald Trump campaigned on an "America First" trade policy of bracing clarity: Renegotiate or abandon NAFTA and crack down on China's trade practices. Yet so far, his trade policy has produced mostly confusion and division, even among fellow Republicans.

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United moves to ease criticism with settlement, new policies

DALLAS (AP) - United Airlines moved to staunch criticism - and any customer defections - by reaching a settlement with David Dao, the passenger dragged off one of its planes two weeks ago and issuing new policies designed to prevent similar customer service failures. The airline and Dao's attorney kept the terms confidential.

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United CEO: I "messed up" with initial response to incident

The CEO of United Airlines is talking about the dragging incident on a United Express plane and his response to the incident. Oscar Munoz says his response, in which he blamed the passenger and supported his employees, was 'insensitive beyond belief.'

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5 reasons Amazon is experimenting with physical stores

NEW YORK (AP) - Amazon's few physical stores seem experimental, with traditional bookstores that feature products you'd find at Best Buy and a convenience store devoid of cashiers. But they could give Amazon a way to grow beyond the internet and might event boost existing online operations. The bookstores, for instance, might introduce book lovers to Kindle e-readers, while some of the efforts will help Amazon save on shipping costs.

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YouTube ad boycott could spell trouble for Alphabet's Google

SAN FRANCISCO (AP) - YouTube's inability to keep ads off unsavory videos is threatening to transform a rising star in Google's digital family into a problem child. It's not yet clear whether a recent ad boycott of YouTube will be short-lived or the start of a long-term shift away from the video service - one that could undercut Google's growth and that of its corporate parent, Alphabet Inc.

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AP-NORC poll: Most teens have taken social media break

NEW YORK (AP) - A new poll finds that most teenagers have taken a break from social media, the bulk of them even voluntarily. Reasons include social media getting in the way or work or school, or teens getting tired of "the conflict and drama." The findings come from The Associated Press-NORC Center for Public Affairs Research and seem to counter the broader narrative that teens are "handcuffed" to their social media profiles.

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Starbucks customer traffic stalls amid mobile order issues

NEW YORK (AP) - Starbucks sales fell short of Wall Street expectations for its fiscal second quarter. The coffee chain has said the congestion created by mobile order-and-pay has discouraged some customers who walk into stores and leave without buying anything. U.S. sales rose 3 percent at established locations, entirely as a result of a higher average check.

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Court: Employers can pay women less based on past salaries

SAN FRANCISCO (AP) - A federal appeals court says employers can legally pay women less than men for the same work based on differences in the employees' previous salaries. The decision by the 9th U.S. Circuit Court of Appeals on Thursday overturned a lower-court ruling saying pay differences based exclusively on prior salaries were discriminatory.

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Exxon fined $20 million for emissions from Texas plant

BAYTOWN, Texas (AP) - A judge has ordered Exxon Mobil to pay nearly $20 million for releasing 10 million pounds of pollutants into the air over eight years from a refining and chemical complex it operates east of Houston. U.S. District Judge David Hittner in a ruling Wednesday determined that Texas-based Exxon on thousands of occasions from 2005 to 2013 violated federal clean-air standards.

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The Standard & Poor's 500 index rose 1.32 points, or 0.1 percent, to 2,388.77.

The Dow Jones industrial average added 6.24 points, less than 0.1 percent, to 20,981.33.

The Nasdaq composite rose 23.71, or 0.4 percent, to 6,048.94.

Benchmark U.S. crude dropped 65 cents, or 1.3 percent, to settle at $48.97 per barrel, while Brent crude, which is used to price international oils, fell 38 cents to $51.44 a barrel. Natural gas slipped 3 cents to settle at $3.24 per 1,000 cubic feet, heating oil fell 3 cents to $1.51 per gallon and wholesale gasoline dropped 4 cents to $1.55 per gallon.

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