Amazon wins EU court fight over $300 million tax bill

Amazon wins EU court fight over $300 million tax bill

In the latest setback to European Union efforts to tackle corporate tax avoidance, a court on Wednesday annulled a ruling by the European Commission that a tax deal between Amazon and Luxembourg’s government amounted to illegal state support. The EU’s executive branch ordered the US online retailer in 2017 to pay around 250 million euros … Read more

Tesla stock falls after Elon Musk’s tweet about self-driving rollout

Tesla stock falls after Elon Musk's tweet about self-driving rollout

Tesla boss Elon Musk said that Tesla is tweaking its self-driving software to “eliminate the phantom braking problem” and may release a significantly improved version within the next two to three weeks. Tesla shares fell 2.7 percent to $600.42 in morning trade, headed for a third straight decline. US federal and state regulators have been scrutinizing Tesla’s semi-automated driving system … Read more

Tyson blames underperforming roosters for US chicken shortage

Tyson blames underperforming roosters for US chicken shortage

Underperforming roosters that aren’t producing as many chicks as expected are partly to blame for the US poultry shortage, according to executives at Tyson Foods. The Springdale, Arkansas-based company, one of the world’s largest producers of poultry and other meats, said earlier this week that it’s struggling to ramp up chicken supply because the new … Read more

Stocks hammered as sell off moves from tech to other sectors

Stocks hammered as sell off moves from tech to other sectors

Investors pulled back on stocks Tuesday as a sell-off that began in tech companies broadened to other sectors, sending the major US indices down. The Dow Jones Industrial Average tumbled about 450 points, or 1.3 percent, in mid-day trading. The S&P 500 was 0.8 percent lower and the tech-heavy Nasdaq Composite edged just 0.1 percent … Read more

US casinos raked in $11B in first quarter to match best-ever ‘win’

US casinos raked in $11B in first quarter to match best-ever ‘win’

Figures released Tuesday by the American Gaming Association, the casino industry’s national trade group, show the nation’s commercial casinos took in over $11.1 billion in the first quarter of this year. America’s commercial casinos matched their best quarter ever in the first three months of this year, as customers continued returning amid the COVID-19 pandemic … Read more

Brooklyn businesses say unemployment benefits hurt hiring

Brooklyn businesses say unemployment benefits hurt hiring

About two-thirds of Brooklyn’s merchants are having difficulty hiring workers as they seek to ramp up operations following the coronavirus shutdowns — and many are blaming generous federal emergency jobless benefits approved by President Biden for keeping people home, a new survey reveals. The Brooklyn Chamber of Commerce poll of 200 small businesses found that … Read more

US job openings soar as companies struggle to hire workers

US job openings soar as companies struggle to hire workers

US job openings soared to a record 8.1 million in March while companies struggled to recruit new workers as the economy continued to heat up, the feds said Tuesday. Total openings rose almost 600,000 compared to February, according to the Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS. The 8.1 million openings is … Read more