A European think tank says the minimum tax on corporations will generate half of the hoped-for revenue; group also urges new tax on billionaires; Japan launches Google antitrust probe; major companies urge rich countries to ditch fossil fuels by 2035.
Federal Reserve Chairman Jerome Powell said another hike may not be necessary right away; CVS removing phenylephrine-based cold treatments; Rite Aid plans 154 store closures; Toyota adopting Tesla’s charging standard.
Existing home sales are down 15% compared to a year ago; jobless claims fall below 200,000; American Airlines posts quarterly loss; E.U. increases scrutiny of social media’s handling of Israel-Hamas war disinformation.
Stocks fall; housing starts are lower than this time last year; resumption of student loan payments will have minor impact on consumer spending; labor market continues to loosen.
U.S. sanctioned 10 people and organizations; United Airlines to allow some window seat passengers to board first; Procter & Gamble profits lifted by higher prices; U.S. Bank beats quarterly earnings estimates by charging higher interest to customers.
September retail sales jumped 0.7%; Choice Hotels makes $8 billion bid for Wyndham; Bill Ford warns strike could hurt automaker’s future; analysts expect Netflix to report subscriber growth when it posts quarterly earnings tomorrow.