Select changes in the top statutory tax rate on long-term capital gains in recent decades:. x- unless Congress alters a pending increase. Sources: Citizens for Tax Justice, Tax Policy Center.
Less than three months remain until the maximum rate of 15 percent on long-term gains rises to 20 percent unless Congress extends the Bush-era tax cuts. On top of that, the health care reform package imposes a new 3.8 percent Medicare tax on the investment income of high-income earners.
Oil fell the most in five months on Wednesday as China's slowing economy raised questions about the strength of global oil demand. Benchmark oil fell $3.75, or 4.1 percent, to $88.14 per barrel Wednesday in New York.
AUGUSTA, Maine-- Maine Housing Authority board members say they'll continue scrutinizing the housing agency's operations and finances following a federal audit that found it failed to provide adequate oversight for its Section 8 program.
HARTFORD, Conn.-- Connecticut's athletic director says the university is looking for a sponsor to step forward and secure the naming rights for its planned basketball training center and has no plans to name the building after newly retired basketball coach Jim Calhoun.
DENVER-- The manager of a Denver Chipotle restaurant has become an Internet celebrity thanks to the wide-eyed pose he struck alongside Mitt Romney when the Republican presidential candidate stopped by for lunch. Marty Arps, 20, posed for a group photo with Romney and Chipotle Mexican Grill Inc. employees Tuesday afternoon.
EWING, N.J.-- Antares Pharma Inc. said Wednesday that it plans to sell 12.5 million shares of its stock for $4 per share, raising about $47 million after expenses. Shares of Antares fell 37 cents, or 8.4 percent, to $4.03 in afternoon trading Wednesday. It has traded between $1.51 and $5.58 in the last 12 months.
ST. LOUIS-- Bakers Footwear Group on Wednesday filed for Chapter 11 bankruptcy protection citing weak sales and mounting losses. Bakers filed in the Eastern District of Missouri. It plans to continue an existing plan to reorganize the company by selling up to 52 leases to Aldo U.S. Inc., closing other stores and selling off merchandise from closed stores.
SLIPPERY SLOPE: Lawmakers and policymakers are weighing how to use taxes and fees on oil and gas production to bolster state budgets and economies without alienating local communities or scaring away energy development.
Clinton says Tehran is responsible for the country's economic problems and Iran's currency hitting a record low against the U.S. dollar. Speaking Wednesday beside Kazakhstan's foreign minister, Clinton acknowledged that international sanctions have contributed to Iran's economic woes.
YEN FOR FLYING: The takeoff of AirAsia Japan, Peach Aviation and Jetstar Japan could change lifestyles in Japan. No longer will air travel be mostly confined to business trips and fancy vacations to places like Hawaii.
NEW YORK-- Thoratec Corp. shares rose Wednesday after a UBS analyst upgraded the stock, saying he is more confident in the heart device maker's growth prospects. THE SPARK: Analyst Rajeev Jashnani raised his rating on Thoratec shares to "Buy" from "Neutral," and increased his price target to $39 per share from $35.
CLEVELAND-- TransDigm Group Inc. said Wednesday it has asked lenders to increase its credit facility so that it can pay its shareholders a special dividend. The Cleveland- based aircraft parts maker said it is considering paying between $400 and $850 million to shareholders before the end of the year, using funds from the possible new debt financing.
JERUSALEM-- Workers at Israel's respected Haaretz newspaper have begun a strike to protest layoffs. The workers said Wednesday that they would not update the Haaretz website until midnight and will not publish the next day's paper. Haaretz has a relatively small circulation, but it is an influential daily popular with Israel's elite.
MARSHALL, Mich.-- The U.S. Environmental Protection Agency on Wednesday told Enbridge Inc. that the pipeline company's massive 2010 oil spill in the Kalamazoo River system requires more cleanup work. The agency says it informed Enbridge more work is need upstream from the Ceresco and Battle Creek dams and Morrow Lake.
ALBANY, N.Y.-- A state judge invalidated Binghamton's two-year moratorium on natural gas drilling, marking the first time a local law that would ban or delay hydraulic fracturing in New York has been struck down.
WASHINGTON-- Washington's Pennsylvania Avenue, sometimes called "America's Main Street," is being listed among the nation's endangered landscapes because of neglect and deferred maintenance by the National Park Service.
Union negotiators say workers and Connecticut Light& Power are still far apart on staffing and overtime issues and rejection of the proposed four-year agreement will automatically authorize a strike, though a work stoppage is by no means certain.