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
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
A federal judge in California has blocked President Donald Trump from building sections of his long-sought border wall with money secured under his declaration of a national...Politicsread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
The race is underway to find a vaccine that can control African swine fever, a highly contagious and deadly viral infection ravaging China's hog population. There is currently...Agricultureread more
Apple bought Tueo Health, which was developing tech to help parents monitor asthma symptoms in children, using a mobile app and commercial breathing sensors.Technologyread more
Some corporations have reacted to the passage of sweeping tax reform legislation by announcing stock buybacks, raising wages or planning to give bonuses. Sen. Rob Portman, R-Ohio, says the best news is yet to come.
"I've talked to a number of CEOs over the past several months about the tax reform as it relates to international business. They can now be competitive here in America," Portman told CNBC's "Squawk Box " on Thursday.
"I think you'll see some big news coming up as to companies that are literally moving factories from overseas back to the United States," he said.
A bevy of changes to the tax code at the individual, corporate and international level came into effect at the start of 2018. Large companies are getting a big cut to the corporate tax rate — down to 21 percent from 35 percent — and a new expensing period that allows them to deduct the cost of some assets.
And a number of companies have announced perks and financial gifts for employees. Some of them have directly cited the new tax law as the reason for giving out bonuses or buying back stock.
In Portman's state, for instance, Columbus-based Nationwide Insurance announced on Wednesday that it will give a $1,000 bonus to most of its 33,000 employees.
Individual tax cuts and beefed-up deductions have also come into effect, though most of them will expire in 2025.
Portman chalked up the unpopularity of the tax bill to the general distrust surrounding Washington, but reiterated the sense of corporate optimism he said he's witnessed since it became law.
"Companies that are invested in Ohio are now saying they're going to put more money into Ohio," Portman said. "They're telling me that because the lower rates and the expensing makes it better to put an investment in America rather than in Japan or in China or in Germany."