Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
Experts say the timing of Amazon executives' contributions to Rep. David Cicilline likely reflect the company's heightened urgency over growing regulatory scrutiny.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Coinbase security chief Philip Martin explains, "Possession of a key is possession of your currency. What that means is that you can't revoke a cryptocurrency key, if that key...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
The Supreme Court could strike down the constitutionality of the Consumer Financial Protection Bureau, an agency Elizabeth Warren has likened to her child and which Justice...2020 Electionsread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
The Trump administration on Monday said states should be able to require online retailers to collect sales taxes, backing an appeal by South Dakota at the U.S. Supreme Court that could mean billions of dollars in revenue for state coffers.
South Dakota is asking the justices to overturn a 1992 Supreme Court ruling that companies with no physical presence in a state are not required to collect a state sales tax on purchases. A lower court decision favored Internet retailers Wayfair, Overstock.com, and Newegg in the dispute.
In a legal brief filed on Monday with the Supreme Court, the U.S. Department of Justice said the 1992 ruling may have to be overruled because it no longer fits with the rise of modern-day e-commerce in which online retailers can replicate the shopping experience of a physical store even where it has no physical property.
"A physical-presence requirement ... bears no logical relationship to current economic conditions, and imposes intolerable burdens on the states ability to collect tax revenue they are lawfully owed," Solicitor General Noel Francisco said in the brief.
The U.S. Government Accountability Office estimated in a November report that states and municipalities could gain between $8 billion and $13 billion in annual revenue if they could require online retailers to collect sales tax. Forty-five of the 50 states have a statewide sales tax.
Some online retailers, including leading player Amazon.com Inc, already collect state sales tax but others do not.
Traditional retail industry groups argue that e-commerce businesses have an unfair advantage over brick-and-mortar competitors by being able to avoid collecting sales tax. Various trade groups and 35 states had urged the high court to take up South Dakota's appeal.
South Dakota enacted a law requiring out-of-state retailers to collect sales tax in 2016 and filed suit against four retailers soon after the law was enacted: Wayfair, Overstock.com, Newegg Inc and Systemax Inc. Systemax agreed to collect the tax, while the other companies contested the state law.
In a September 2017 ruling, the South Dakota Supreme Court, citing the 1992 precedent, ruled against the state.
The Supreme Court will hear arguments in the case in April and make a decision by the end of June, when its current term ends.