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Top News & Analysis Illinois

  • The proposal, tucked deep in the Senate tax-cut plan, calls for airlines headquartered in foreign countries to pay the U.S. incorporate tax rate if: 1) the carrier's home country does not have an income tax treaty with the United States and 2) the carrier's country of origin has fewer than two arrivals and departures, per week, operated by major U.S. airlines.

  • WASHINGTON, Nov 16- Congressional Republicans took an important step on Thursday toward the biggest U.S. tax-code overhaul since the 1980 s as the House of Representatives approved a broad package of tax cuts sought by senior lawmakers and President Donald Trump. No decisive Senate action is expected until after next week's Thanksgiving holiday.

  • CALGARY, Alberta, Nov 16- TransCanada Corp shut part of its Keystone oil pipeline system after a 5,000- barrel leak in South Dakota, the company said on Thursday, four days before neighboring Nebraska was set to decide on the company's long-delayed Keystone XL pipeline. South Dakota Department of Environmental and Natural Resources spokesman Brian Walsh said...

  • No decisive Senate action is expected until after next week's Thanksgiving holiday. But the path forward for the tax plan in the Senate, where Republicans have a narrow majority, is fraught with obstacles about concerns over the federal deficit, healthcare and the distribution of tax benefits. Republicans can lose no more than two Senate votes if Democrats...

  • The legislative battle now shifts to the Senate, where the Republican majority is much slimmer. Republicans can lose no more than two Senate votes and at least two GOP senators have already spoken against the Senate version of the bill. "The even higher hurdle is to have something pass in the Senate.

  • *House passes U.S. tax bill, battle shifts to Senate. NEW YORK, Nov 16- Wall Street's main indexes rose sharply on Thursday boosted by earnings-related gains in Wal-Mart and Cisco, while a tax bill expected to boost corporate earnings passed its first, if smallest, hurdle. Cisco touched $36.67, its highest since February 2001, a day after quarterly profit beat...

  • NEW YORK, Nov 16- A federal jury in Chicago said on Thursday that Endo International's Auxilium unit was not responsible for the heart attack a man suffered while using the company's testosterone replacement drug Testim. Some 6,000 plaintiffs allege that a range of defendants, such as AbbVie Inc, Pfizer, Inc, Endo Pharmaceuticals, Inc and GlaxoSmithKline, had...

  • AMHERST, S.D.— TransCanada Corp.' s Keystone pipeline leaked an estimated 210,000 gallons of oil onto agricultural land in northeastern South Dakota, the company and state regulators said Thursday, but state officials don't believe the leak polluted any surface water bodies or drinking water systems. Crews shut down the pipeline Thursday morning and...

  • CALGARY, Alberta, Nov 16- TransCanada Corp has shut part of its Keystone pipeline after 5,000 barrels of oil leaked in Amherst, South Dakota, the company said on Thursday, four days before the state of Nebraska was due to decide on an expansion of the system. The pipeline from Hardisty, Alberta, to Cushing, Oklahoma, and to Wood River and Patoka in Illinois, has been shut,...

  • The pipeline from Hardisty, Alberta to Cushing, Oklahoma, and to Patoka, Illinois, has been shut, while the southern leg of the system to the Gulf Coast remains operational, the company said.

  • NEW YORK, Nov 16- U.S. stocks rose and the dollar edged higher against a basket of major currencies on Thursday after the U.S. House of Representatives passed its version of a tax overhaul bill. "The tax plan isn't a foregone conclusion but it passed the lowest hurdle in the House," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago.

  • *Yield curve flattens for 4 straight days. NEW YORK, Nov 16- U.S. "This is a reflection that the Fed is still going ahead with raising rates even though inflation remains quite low," said Lou Brien, market strategist at DRW Trading in Chicago.

  • *House passes U.S. tax bill, battle shifts to Senate. NEW YORK, Nov 16- Wall Street's main indexes rose sharply on Thursday boosted by earnings-related gains in Wal-Mart and Cisco, while a tax bill expected to boost corporate earnings passed its first- if smallest- hurdle. Cisco touched $36.67, its highest since February 2001, a day after quarterly profit beat...

  • *Yield curve flattens for 4 straight days. NEW YORK, Nov 16- U.S. "This is a reflection that the Fed is still going ahead with raising rates even though inflation remains quite low," said Lou Brien, market strategist at DRW Trading in Chicago.

  • *U.S. House of Representatives approves tax overhaul. NEW YORK, Nov 16- The U.S. dollar edged higher against a basket of major currencies on Thursday, rebounding from a more than three-week low in the previous session, after the U.S. House of Representatives passed their version of the tax overhaul bill. The U.S. House of Representatives approved a broad package of...

  • Nov 16- Minnesota Governor Mark Dayton's line-item veto of money for the state legislature earlier this year was constitutional and courts lack the power to order funding, according to a ruling released on Thursday. On Thursday, the Legislative Coordinating Commission approved a plan giving the legislature access to about $20 million to keep operations...

  • No decisive Senate action was expected until after next week's Thanksgiving holiday. The path forward for the tax plan in the Senate, where Republicans have a narrow majority, is fraught with political obstacles involving the federal deficit, healthcare and the distribution of tax benefits. Republicans can lose no more than two Senate votes.

  • District Judge James Boasberg is requiring the Army Corps of Engineers to further review the pipeline's impact on tribal interests, but he's allowing oil to continue flowing while that work is done over the next several months. The tribes fear any oil spill beneath the Lake Oahe reservoir on the Missouri River would contaminate their water supply.

  • WASHINGTON, Nov 16- Major U.S. airlines are bumping far fewer passengers from overbooked flights after a high-profile incident in April prompted the industry to reassess its practices, the U.S. Department of Transportation reported on Thursday. The government reported the rate of involuntary bumping passengers among the 12 largest U.S. carriers fell to 0.15...

  • BOSTON, Nov 16- The billionaire founder of drugmaker Insys Therapeutics Inc pleaded not guilty to charges that he participated in a scheme to bribe doctors to prescribe a fentanyl-based spray intended for cancer patients. John Kapoor, who stepped down as Insys' chief executive officer and chairman in January but remained its majority shareholder, entered his...