Bloomberg It’s been less than a month since Congress approved a sweeping tax overhaul and states are already champing at the bit to get a piece of the action. Regulators from Montana to Kentucky have ordered utilities to act now to ensure ratepayers share in the windfall from the tax bill signed into law by President Donald Trump that slashed ...

Bloomberg President Donald Trump said Congress should enact a measure to provide legal status to young, undocumented immigrants, provided other proposals, including funding for a wall on the US border with Mexico, are also adopted — a compromise Democratic lawmakers have already rejected. “We want the wall,” Trump said at a press conference at Camp David in Maryland. “The wall ...

BEIJING / Reuters A tanker carrying Iranian oil and run by the country’s top oil shipping operator was ablaze and spewing cargo into the East China Sea on Sunday after colliding with a Chinese bulk ship, leaving its 32 crew members missing, the Chinese government said. Thick clouds of dark smoke could be seen billowing out of the Sanchi tanker, ...

AMRIYAT AL-FALLUJA / Reuters Iraqi security forces are forcibly returning civilians from refugee camps to unsafe areas in the predominantly Sunni Anbar province, exposing them to death from booby-traps or acts of vigilantism, refugees and aid workers say. Managing more than two million Iraqis displaced by the war against IS is one of Prime Minister Haider al-Abadi’s most daunting tasks. ...

Bloomberg German Chancellor Angela Merkel said she’s hopeful that make-or-break talks to renew her governing alliance with the Social Democratic Party will succeed, while cautioning that much work is needed for a deal that opens the door to her fourth term. With Europe’s dominant country and biggest economy stuck in more than three months of post-election stalemate, the acting chancellor’s ...

Bloomberg Malaysia’s opposition named Mahathir Mohamad, 92, as candidate for prime minister in an election that must be held by August. Once Malaysia’s longest serving premier, Mahathir will battle against his own hand-picked heir, Prime Minister Najib Razak, 64. The coalition known as Pakatan Harapan, or Pact of Hope, said at its convention on Sunday that Mahathir would remain prime ...

When most people think of wealth in the modern economy, they tend to think of stocks and bonds. The word ‘capital’ is often synonymous with corporate ownership. Land wealth, meanwhile, is often relegated to a footnote. Yes, people own houses, but vast fortunes are made in the stock market, while the fates of nations rise and fall with the bond ...

Facebook Inc. had countless conflagrations in 2017, but financially it was on fire in a good way. Revenue climbed 47 percent through the first nine months of 2017. It generated a remarkable 46 cents of operating profit for each dollar of revenue, and its stock price shot up more than 50 percent. Facebook is the internet’s best combination of quickly ...

One of the worries about large tax cuts for corporations is that stock-market investors will benefit more than working-class wages. There is a growing concern that much of savings will be used for dividends or share repurchases, which would potentially boost returns for those invested in stock market. This is likely to accelerate US inequality because wealthy are now by ...

Europe could not have asked for a better end to 2017. Data from the Markit Purchasing Managers’ Index showed that economic activity was the strongest in nearly seven years. The unemployment claims rate in Germany is at its lowest level since the early 1990s. Even Greece’s factories are enjoying the best run in nearly a decade. Indeed, the euro-zone economy ...