Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
British lawmakers are poised to have a big say over Brexit on Monday, as MPs divide on the European (Withdrawal) Bill for the first time.
Britain's Parliament will vote Monday evening on whether the ruling right-wing Conservative Party should have the power to transfer laws from Brussels to Britain in order to prepare for Brexit.
Prime Minister Theresa May described the EU (Withdrawal) Bill, often referred to as the Great Repeal Bill, as an "essential step" in the process of leaving the bloc. However, opposition parties appeared united in blocking the bill's progress, arguing it is reflective of a "power grab" from the government.
Here's everything you need to know ahead of the vote:
The EU (Withdrawal) Bill will repeal the 1972 European Comminutes Act – which brought the U.K. into the EU – and end the jurisdiction of the European Court of Justice.
All EU existing laws will be applied to domestic U.K. law in order to ensure a smooth Brexit immediately after the country leaves the bloc on March 29, 2019.
The U.K. Parliament could then "amend, repeal, and improve" its own laws as and when it deems necessary.
Ministers argue this process would protect the U.K. from a "cliff-edge of uncertainty". However, critics of the bill claim government officials would then possess the power to modify legislation without the appropriate scrutiny from Parliament.
The repeal bill is potentially "one of the largest legislative projects ever undertaken in the U.K." according to a report by the House of Commons library. This is because replacing EU laws with domestic legislation is by no means a straightforward process.
And, in any case, not all of this can be achieved via the Repeal Bill alone. For example, swathes of British laws would then refer to EU institutions only.
Therefore, May's government plans to create powers to "correct the statute book where necessary."
The government has proposed plans to make changes to U.K. law post-Brexit using so-called 'Henry VIII powers'.
In 1539, the 'Statute of Proclamations' gave the then King power to legislate by proclamation. Opposition parties have vehemently protested such plans, with the left-wing Labour party insisting this would hand the government "sweeping powers" to make rash and poorly judged legislative decisions.
Government officials have sought to play down concerns from critics, arguing that decisions would be time limited and not used in order to make policy changes.
The government has projected that around 1,000 measures, called statutory instruments, would be required to make sure the bill functions correctly.
Several Conservative lawmakers have expressed concerns about the plans to rewrite legislation without due parliamentary procedure yet few are expected to rebel on Monday night.
Meantime, Labour leader Jeremy Corbyn has ordered his MP's to vote against the bill. Liberal Democrat lawmakers and Scotland National Party members of parliament are also expected to vote against the bill.
While an upset does not appear likely, May's fragile working majority of just 13 has dramatically increased the power of individual backbenchers.
The bill will have to pass through both Houses of Parliament for it to be formally approved.
The government is aiming for it to be passed before Britain leaves the bloc in March 2019, but only to become law thereafter.