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Trump promotes 'giant, beautiful, massive' tax plan
WASHINGTON (AP) — President Donald Trump says the centerpiece of his plan to help American businesses and workers is a "giant, beautiful, massive, the biggest ever in our country, tax cut." Trump and congressional Republicans unveiled the broad outlines of the tax plan earlier this week. The nearly $6 trillion tax cut plan would deeply reduce taxes for corporations and simplify tax brackets. Many details remain to be fleshed out.
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Report finds GOP tax plan benefits top 1 percent
WASHINGTON (AP) — A report from nonpartisan researchers finds that the new GOP tax plan disproportionately benefits the top 1 percent of the nation's taxpayers. Its release presages a bitter partisan battle over the proposal that President Donald Trump calls the biggest tax cut in history. Republicans dispute the findings.
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Trump's health secretary resigns in travel flap
WASHINGTON (AP) — President Donald Trump's health secretary has resigned, after his pattern of traveling on costly charter flights triggered investigations and angered the president. Health and Human Services Secretary Tom Price became the first member of the Cabinet to leave office in a turbulent young administration that has seen several high-ranking White House aides ousted. Price expressed regrets and offered a partial repayment, but he couldn't save his job. He served less than eight months.
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Maria dims Puerto Rico's bleak economic outlook
NEW YORK (AP) — Hurricane Maria has thrown Puerto Rico's already messy economic recovery plans into disarray. Even after it emerges from the worst of the disaster, the U.S. territory still faces a $74 billion public debt load — a topic again raised by President Trump as he promised the rebuilding effort will "end up being one of the biggest ever."
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Trump says he will decide on Fed chair within 2 or 3 weeks
WASHINGTON (AP) — President Donald Trump said Friday that he has held four meetings to discuss who should lead the Federal Reserve starting early next year and expects to decide within two or three weeks. Trump made the disclosure in comments to reporters on the White House lawn. He did not name the candidates he has met with. But a White House official said the president and Treasury Secretary Steven Mnuchin had met Thursday with Kevin Warsh, a former Fed board member.
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SpaceX: Rocket for moon, Mars and NY-to-Shanghai in 39 mins
CAPE CANAVERAL, Fla. (AP) — SpaceX chief Elon Musk's elaborate plan for a mega-rocket to carry astronauts to Mars may have some down-to-Earth applications. During a speech in Australia on Friday, Musk said if you build a ship capable of going to Mars, why not use it for high-speed transport here at home. He proposes using his still-in-the-design phase rocket for launching passengers from New York to Shanghai in 39 minutes flat.
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Uber's CEO will meet with UK transport authorities
LONDON (AP) — London's transport authority said Friday its commissioner will meet with the chief executive of Uber next week. The meeting with Uber CEO Dara Khosrowshahi comes after London transit authorities decided to strip the ride-hailing service of its license to operate in the British capital. Uber said its new chief executive was "looking forward" to the meeting in London and wanted to work with city authorities to "make things right."
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Judge: Maryland can act against drug price-gouging, for now
ANNAPOLIS, Md. (AP) — A federal judge has denied an effort by drugmakers to block Maryland's first-in-the-nation law against pharmaceutical price gouging. A group representing makers of generic prescription drugs sought to stop the law from taking effect this Sunday.
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EU to seek higher digital taxes on US giants
TALLINN, Estonia (AP) — French President Emmanuel Macron says Friday there is a groundswell of support in the European Union to make sure U.S. digital giants pay more taxes on their lucrative business on the continent. He said he already counted 19 nations in support of plans for continentwide fiscal rules on taxing major internet companies. Ireland disagreed with the proposal and said many Nordic countries had joined it in opposition.
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Technology firms and small companies lead US stocks higher
NEW YORK (AP) — Large technology and health care companies and smaller U.S.-focused firms rose again Friday as stocks finished the third quarter at record highs.
Stocks were mixed at the start of trading, as they had been the day before. But chipmakers and big-name technology companies pulled stocks higher, as they have done all year. Health care companies also did better than the rest of the market. Tyson Foods climbed after it gave strong profit forecasts, and investors cheered strong quarterly results from homebuilder KB Home.
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The Standard & Poor's 500 index rose 9.30 points, or 0.4 percent, to 2,519.36. The Dow Jones industrial average turned higher to finish with a gain of 23.89 points, or 0.1 percent, at 22,405.09. The Nasdaq composite jumped 42.51 points, or 0.7 percent, to 6,495.96. The Russell 2000 index of small-company stocks added 2.08 points, or 0.1 percent, to 1,490.86.
Benchmark U.S. crude rose 11 cents to $51.67 a barrel in New York. Brent crude, the standard for international oil prices, rose 13 cents to $57.54 a barrel in London. Wholesale gasoline slid 3 cents to $1.61 a gallon. Heating oil declined 2 cents to $1.81 a gallon. Natural gas gave up 1 cent to $3.01 per 1,000 cubic feet.
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