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NYT > Business Day

Last Build Date: Sat, 18 Nov 2017 00:03:07 GMT

Copyright: Copyright 2017 The New York Times Company

Retailers Experiment With a New Philosophy: Smaller Is Better

Fri, 17 Nov 2017 23:33:01 GMT

The entrance to Nordstrom Local on Melrose Place in Los Angeles. Nordstrom, known for its upscale department stores, is trying a showroom-style store concept to attract shoppers.Department stores and other retailers struggling to beat back e-commerce are taking cues from online start-ups by experimenting with small showrooms.

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China to Export Trumpchi Cars to U.S., Maybe With a New Name

Fri, 17 Nov 2017 20:20:15 GMT

Cars made by GAC Group, the parent company of Trumpchi cars, on display at the Guangzhou auto show on Friday.GAC Motor wants to lead an export push as China prepares the rest of its auto industry to go global and, in particular, target the American market.

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Senate Tax Plan Includes Exemption for Private Jet Management

Fri, 17 Nov 2017 22:39:32 GMT

A Cessna Citation X passenger jet operated by NetJets. The company challenged a ticket tax on aircraft management firms in court.Senate Republicans included a provision in the tax proposal that would clarify a policy toward companies that help maintain private aircraft.

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Senate, Like House, Opts to Keep Tax Break for Rich That Trump Vowed to End

Fri, 17 Nov 2017 20:37:06 GMT

From left, Senators Ron Wyden, Democrat of Oregon, Orrin G. Hatch, Republican of Utah, and Charles E. Grassley, Republican of Iowa, at a Senate Finance Committee meeting on Thursday.A provision in the House and Senate tax bills will change, but not close, the so-called carried interest tax loophole, which benefits wealthy people.

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Strategies: How to Profit From Time Warner’s Troubles

Fri, 17 Nov 2017 21:39:27 GMT

“Game of Thrones,” HBO’s television series, is among the programming treasures that AT&T could acquire in a merger with Time Warner.The Trump administration’s signals have hurt Time Warner shares. But there is money to be made if last month’s pricing was more accurate than today’s.

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DealBook Briefing: Corporate Taxes, Musk vs. Buffett, and Will Fox Strike a Deal?

Fri, 17 Nov 2017 23:32:46 GMT

Speaker Paul Ryan talks following the House’s vote on tax reform.Will companies invest their cash windfall from the Republican tax plans? Also, the Murdochs are in talks with suitors interested in pieces of their empire. But will they sell?

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Myths of the 1 Percent: What Puts People at the Top

Fri, 17 Nov 2017 19:40:20 GMT

A woman holds up a paddle with an image of Leonardo da Vinci’s “Salvator Mundi” as she arrives at Christie’s before bidding on the painting Wednesday night in New York. The work sold for a record $450.3 million.Dispelling misconceptions about what’s driving income inequality in the U.S.

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Economic View: How Cutting Taxes Makes Life Worse for the Rich

Fri, 17 Nov 2017 19:10:24 GMT

Tax cuts that give rich people more money aren’t good for anyone, including the rich. Believing it will help them buy special things is a cognitive error.

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Tesla Unveils an Electric Rival to Semi Trucks

Fri, 17 Nov 2017 23:15:49 GMT

Elon Musk, chief executive of Tesla, revealed the company’s new electric semi truck at a Thursday night presentation in Hawthorne, Calif.Aiming to remake a multibillion-dollar industry, the automaker said it would have a semi for sale in two years that would be nearly self-driving.

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China’s Soccer Push Puts a Storied Team Under Murky Ownership

Fri, 17 Nov 2017 04:45:19 GMT

The Chinese businessman Li Yonghong, center, in April with other board members of the Italian soccer club A.C. Milan. Mr. Li bought the club for $860 million, China’s biggest-ever soccer deal.Fans of Italy’s A.C. Milan greeted its new owner as a savior. Today, as the debt-burdened team bleeds money, questions swirl around its new benefactor.

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Your Money: Confused by the Tax Bills? Be Glad You’re Not an Accountant

Fri, 17 Nov 2017 18:52:07 GMT

Pity the tax adviser trying to calm anxious clients while struggling to figure out what Congress may or may not do.

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Common Sense: With AT&T and Time Warner, Battle Lines Form for an Epic Antitrust Case

Thu, 16 Nov 2017 23:47:40 GMT

The chief executives Randall L. Stephenson of AT&T, left, and Jeffrey L. Bewkes of Time Warner at a Senate hearing on their merger plan last year. While some antitrust experts say legal precedent favors approval of the deal, others point to a growing call for tougher scrutiny.The Justice Department is favoring divestiture, meaning CNN might have to go. But experts say many concerns can be addressed with “conduct remedies.”

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F.D.A. Speeds Review of Gene Therapies, Vowing to Target Rogue Clinics

Fri, 17 Nov 2017 00:35:19 GMT

Scott Gottlieb, the commissioner of the Food and Drug Administration, at a Senate hearing earlier this year. The F.D.A. issued new guidelines that will expedite treatments involving human cells and tissues.The agency plans to speed approval of treatments to get them to the market faster, signaling the quickened pace of advancements in this field.

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Wall Street Pulls Back at Week's End With Tax Changes Mulled

Fri, 17 Nov 2017 22:54:44 GMT

Wall Street ended the week on a sour note on Friday, with major indexes slipping modestly as investors weighed the fate of the Republicans' tax overhaul plan.

Apple Postpones Release of HomePod Speaker

Fri, 17 Nov 2017 23:01:02 GMT

Apple introduced its HomePod speaker in June and had said the product would ship by the end of the year.Apple had said its HomePod speaker, a response to Amazon’s Echo, would debut this year. Now it won’t be released till early next year.

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In Oregon, You Can Now Save for Retirement. Unless You Object.

Fri, 17 Nov 2017 19:25:27 GMT

Representatives of local businesses talk about signing up employees for Oregon’s state-sponsored retirement savings program, OregonSaves, at the Embassy Suites Hotel in Portland, Ore.The state is the first to have businesses that don’t offer their own plans automatically enroll workers for a payroll deduction. Workers can opt out.

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Milling 66 Acres of Oats (Every Hour) Without a Hitch

Fri, 17 Nov 2017 18:45:33 GMT

Charlie Mossman at the Quaker Oats plant in Cedar Rapids, Iowa. Mr. Mossman has worked at the company for 30 years.With the help of a “run right” board and a conveyor for traveling between floors, a shift lead keeps processes at Quaker Oats running smoothly.

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Americans Are Watching Netflix at Work and in the Bathroom

Fri, 17 Nov 2017 20:00:29 GMT

About 37 percent of Americans who streamed shows or movies outside their homes said they did so at work.Two-thirds admit to streaming movies and TV shows outside the home. And 12 percent who watch in public have done so in public restrooms.

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Island Nations, With No Time to Lose, Take Climate Response Into Their Own Hands

Fri, 17 Nov 2017 19:02:21 GMT

A backlit photo at the United Nations climate talks in Bonn, Germany. The official host of the conference is Fiji.Island states that are least responsible for global emissions but most vulnerable to storms and rising seas are looking outside the United Nations process for aid.

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How Clear Can Speed Up the Airport Screening Process

Fri, 17 Nov 2017 14:44:38 GMT

Clear uses biometric technology at airports.Clear uses biometric technology (fingerprints, iris scans) to help passengers get through security. Here’s how the program works.

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Stitch Fix Prepares an I.P.O. in the Shadow of Amazon

Fri, 17 Nov 2017 03:32:34 GMT

Stitch Fix was founded in the apartment of its chief executive, Katrina Lake, six years ago.The online retailer is a rarity: A start-up that has been profitable. But investors will have to decide if it can compete with the e-commerce behemoth.

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In Puerto Rico, Law Passed for Fiscal Crisis Hampers Storm Recovery

Fri, 17 Nov 2017 05:00:56 GMT

A school in Guaynabo, P.R., in October, during its use as a shelter after Hurricane Maria. A judge ruled this week that an oversight board has no legal authority to install new leadership at Puerto Rico’s beleaguered power company.When the hurricane-ravaged island needs Washington’s help most, 2016 legislation that set up an oversight board is restricting federal authority.

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Comcast Said to Be in Talks to Buy 21st Century Fox Assets

Fri, 17 Nov 2017 01:39:58 GMT

A scene from “Better Things” on FX, a cable network owned by 21st Century Fox.The cable giant is discussing acquiring the Fox movie studio, the FX network, regional sports channels and a vast overseas TV distribution business.

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Keystone Pipeline Leaks 210,000 Gallons of Oil in South Dakota

Fri, 17 Nov 2017 01:38:56 GMT

The spill in South Dakota comes just days before Nebraska regulators will decide on a permit needed for the proposed Keystone XL pipeline

Mulvaney Expected to Run Watchdog Agency He Wanted to Kill

Thu, 16 Nov 2017 22:59:30 GMT

Mick Mulvaney is expected to be named the acting head of the Consumer Financial Protection Bureau, a regulator that has emerged as one of the most aggressive banking watchdogs.Mick Mulvaney, the White House budget director, was a co-sponsor of a bill to shut down the Consumer Financial Protection Bureau.

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Norway’s Wealth Fund Considers Divesting From Oil Shares

Thu, 16 Nov 2017 23:13:36 GMT

An oil drilling platform operated by Statoil ASA in the North Sea near Bergen, Norway. The country is Europe’s dominant producer of oil.The move signals that the country, Europe’s top producer, does not have full confidence in oil’s future.

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A More Conciliatory Tone on Climate from the U.S. at Global Talks

Thu, 16 Nov 2017 20:25:45 GMT

The United States offered a seemingly contradictory message at the United Nations climate conference in Bonn, promising to engage in further talks while also vowing to exit the Paris accord.In a brief address at the United Nations climate conference in Bonn, a State Department official mentions climate change and not coal, drawing (polite) applause.

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The House and Senate Still Have Very Different Tax Bills. Here’s How They Compare.

Thu, 16 Nov 2017 20:21:03 GMT

The Senate Finance Committee met on Thursday to continue their consideration of tax legislation.The House tax bill, which passed on Thursday, is different in some significant ways from the Senate bill, which must still be voted on.

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Who’d Gain From an Estate Tax Rollback: The 0.2 Percenters

Fri, 17 Nov 2017 15:17:53 GMT

Treasury Secretary Steven Mnuchin with his wife, Louise Linton, and new dollar bills bearing his signature on Wednesday. Last month, Mr. Mnuchin said, “Obviously, the estate tax, I will concede, disproportionately helps rich people.”Scarcely 5,000 estates a year fall under the tax, but those seeking to reduce or eliminate it have outsize influence.

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Middle-Class Families Confront Soaring Health Insurance Costs

Thu, 16 Nov 2017 23:45:51 GMT

Ian Dixon, right, said he might hire an employee just so he could buy health insurance as a small business, at a cost far below what he and his family would have to pay on their own.In Virginia, premiums on policies sold under the Affordable Care Act are pushing health coverage out of reach, and customers see political forces at work.

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F.C.C. Opens Door to More Consolidation in TV Business

Fri, 17 Nov 2017 04:59:20 GMT

Ajit Pai, chairman of the Federal Communications Commission, has argued that media organizations would have greater ability to compete against internet giants by combining resources in local markets.The agency voted to relax several rules, including allowing a company to own more than one of the top stations in a local market.

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Breweries Find That Coffee Is Their Second Favorite Beverage

Thu, 16 Nov 2017 18:47:55 GMT

Sean Arroyo, left, pours a glass of beer at Heritage Brewing Company Market Common Brewpub & Roastery in Arlington, Va. It merges his two businesses: beer and coffee.Beer makers around the country are taking on another brew — roasting coffee, opening cafes and working both ends of the day.

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Wheels: The Near Future of Driving: Eyes Forward, but No Hands at 10 and 2

Thu, 16 Nov 2017 19:33:02 GMT

Neal Boudette drove from Michigan to Indiana largely without having to put his hands on the wheel. That meant finding other things to do, like taking a selfie. The Cadillac Super Cruise system is the latest in semiautonomous driving technology, allowing drivers to keep their hands off the wheel as long as they pay attention to the road.

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With Big Gift and Tighter Oversight, the Met Gains Solid Ground

Thu, 16 Nov 2017 17:02:08 GMT

Herbert and Florence Irving. Ms. Irving and her husband’s estate are giving $80 million to the Metropolitan Museum of Art.Coming off a tumultuous year, the museum is reducing its deficit and aiming to increase transparency. An $80 million donation helps.

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DealBook Briefing: ‘Antitrust Is Law Enforcement, Not Regulation’

Fri, 17 Nov 2017 06:48:46 GMT

A “Vote to leave” ad on a truck in Westminster, London, in 2016. According to new research, Russian-language Twitter accounts posted messages against the European Union before last year’s referendum in Britain.The Justice Department’s new antitrust chief Makan Delrahim laid out the principles that could guide a suit to block AT&T’s acquisition of Time Warner.

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China Craves Electric Cars, While U.S. Flirts With Ending Tax Credit

Thu, 16 Nov 2017 23:06:33 GMT

Workers inspected the Baojun E100 electric car at an assembly plant in Liuzhou, China, last week. The country is pushing to expand sales of electric cars.As American lawmakers weigh a repeal, automakers are gathering in China, a country demanding they sell more electric cars.

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U.N. Climate Projects, Aimed at the Poorest, Raise Red Flags

Thu, 16 Nov 2017 16:22:07 GMT

Tidal flooding on South Tarawa, one of the atolls that makes up Kiribati.The Green Climate Fund was meant to help developing countries tackle climate change, but many of the most vulnerable nations have not seen any grants.

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I.R.S. Starts to Enforce Health Law’s Rule That Employers Offer Insurance

Thu, 16 Nov 2017 19:13:47 GMT

Large companies — defined by law as those with 50 or more workers — are required to offer their employees affordable insurance or pay stiff tax penalties.Thousands of businesses, many of them small or midsize, will soon get a letter saying they owe penalties because they failed to offer qualifying insurance.

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Jet Pilot Might Not Seem Like a ‘Gig,’ but at Ryanair, It Is

Fri, 17 Nov 2017 19:10:28 GMT

A Ryanair flight attendant gives directions before departure at Dublin Airport. Employees of the European carrier have tried to organize.The biggest European budget airline employs many of its pilots as contract workers — many of whom are pushing back after a recent flight cancellation episode erupted into a clash.

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Meredith Bid for Time Inc. Said to Be Backed by Koch Brothers

Thu, 16 Nov 2017 16:55:18 GMT

Earlier talks this year between Time Inc., the publisher of People and Sports Illustrated, and the Meredith Corporation fizzled out.The billionaire Koch brothers are said to have tentatively agreed to support the publisher Meredith’s offer with an equity injection of more than $500 million.

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Deception and Ruses Fill the Toolkit of Investigators Used by Weinstein

Thu, 16 Nov 2017 12:39:20 GMT

Black Cube was thrust into the spotlight last week when The New Yorker revealed that the producer Harvey Weinstein had hired the firm to investigate the actress Rose McGowan.Black Cube, hired to ferret out information on a Weinstein accuser, used an elaborate ruse involving a fake job interview in another case.

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Nelson Peltz Declares Victory in Procter & Gamble Proxy Fight

Thu, 16 Nov 2017 00:35:11 GMT

Nelson Peltz’s proxy battle with Procter & Gamble has been closely watched as a referendum on the leadership of underperforming blue-chip companies.Trian Fund Management, Mr. Peltz’s investment firm, announced that a preliminary independent vote count showed that he had been elected to P.&G.’s board.

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Amazon Sellers Brood as States Come Calling for Taxes

Thu, 16 Nov 2017 00:21:00 GMT

The fees Amazon charges its marketplace sellers are a huge business for the company, totaling nearly $8 billion during its most recent quarter, up from $5.65 billion a year earlier. The e-commerce giant leaves collection of sales taxes up to those sellers, but few want to do so without assurances that competing merchants will do the same.Most third-party sellers on Amazon do not collect sales tax. States, thirsty for the millions of dollars in unpaid revenue, are coming for the money.

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Angolan Leader Ousts Predecessor’s Daughter as Oil Chief

Thu, 16 Nov 2017 03:32:36 GMT

Isabel dos Santos, as head of Angola’s state oil company, speaking at a London event last month.The move shakes up the country’s political calculus and its economy, which has been plagued by corruption.

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Breakingviews: A German Banking Merger Remains Far Off

Wed, 15 Nov 2017 22:46:29 GMT

Deutsche Bank’s headquarters in Frankfurt. A possible merger with Commerzbank would require the approval of investors beyond Cerberus Capital Management.Cerberus Capital Management’s investment in both Deutsche Bank and Commerzbank is not enough to spur a merger of the two institutions.

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