Economy & Business

Business news

Trump's tax returns are under lock and key

Nov 16, 2017

You might think I'm making this up, but I promise you I'm not.

Politico did an interview with the departing head of the Internal Revenue Service, John Koskinen. Among other interesting tidbits, Koskinen said they're building a special safe to hold presidential tax returns. All of them. But, uh, where is it now? Here's Politico's Michael Grunwald:

Michael Grunwald: You know I've got to ask — are his taxes really being audited?

Why the pass through tax is important for businesses

Nov 16, 2017

Today the House passed its version of the tax bill. It has yet to be voted on in the Senate. To get a sense of how the bill could affect people in the economy Kai sat down with Ed Fryar, owner of the growing business Ozark Mountain Poultry.  Below is an edited version of their conversation.

Kai Ryssdal: First of all, how's the chicken business doing?

AT&T and Sinclair Broadcast Group want to increase their market share of TV stations and national TV networks. The two would-be buyers face a complicated regulatory path. But that's where their tales diverge, leaving some analysts scratching their heads. That's because Sinclair's proposed $3.9 billion acquisition of Tribune Media appears headed for smooth sailing before the Federal Communications Commission, which voted Thursday to relax its ownership rules.

Puerto Rico still has no power

Nov 16, 2017

The latest information out of Puerto Rico indicates that less than half of the island has electrical power. That means hospitals, supermarkets and small business are still struggling to literally and figuratively keep the lights on. Marketplace Weekend host Lizzie O'Leary has been reporting from Puerto Rico. She talked with Marketplace host Kai Ryssdal about the situation on the ground. The following is an edited transcript of their conversation. 

Documentary filmmaker Christopher Rufo doesn't make enough money to have to pay Seattle's new high-earners tax, but he still wants to keep Seattle income-tax-free. So much so, he joined around 30 plaintiffs suing the city.

For producer DeVon Franklin, Christian films merge his passion and his faith

Nov 16, 2017

You may not have heard of him unless you're a Hollywood insider, but DeVon Franklin, the CEO and founder of Franklin Entertainment, is arguably the person behind wide-release Christian films.

The much-vaunted Senate tax bill is now a health bill.

Updated at 11 p.m. ET

Following criticism of an in-game purchase system in the new game Star Wars Battlefront II, publisher Electronic Arts announced late Thursday, just hours before the game's worldwide release, that this system would be turned off while adjustments are made.

"This was never our intention. Sorry we didn't get this right," said a statement posted on Twitter.

Our original story continues:

Many British businesses are complaining about Brexit. They fear that when the United Kingdom leaves the European Union as scheduled at the end of March 2019, the country will lose its free and frictionless access to the huge European market on its doorstep. But one beleaguered British industry sees departure in a much more optimistic light. After decades of decline, many of the U.K.’s fishermen believe Brexit will be their salvation.

Marketplace traveled to England’s largest fishing port, at Newlyn in the southern county of Cornwall, to test the waters.

As NPR's Board of Directors meet in Washington, D.C., this week, the network finds itself confronted by a series of dispiriting developments: a CEO on medical leave; a chief news executive forced out over sexual harassment allegations; the sudden resignation of a board chairman; fresh complaints over inappropriate behavior by colleagues; and a network roiled by tensions over the treatment of its female workers.

Golf has played an outsize role in the relationship between the U.S. and Japan lately, as diplomacy between President Trump and Japanese Prime Minister Shinzo Abe often includes playing 18 holes together. But in Japan, where you can find half of all the golf courses in Asia, the industry is flagging.

America still has the largest golf industry in the world, by a long shot. But in Japan's economic heyday in the 1980s, it built up thousands of courses and the game became baked into its business culture.

11/16/2017: How's the chicken business though?

Nov 16, 2017

We step away from the Hill to talk to someone who will be affected by the tax bill: a poultry company CEO (and former economist) in Rogers, Arkansas, for whom tax cuts could allow a business expansion a year or so earlier than would be possible at the current tax rate. And we check in with Lizzie O'Leary, on the ground in San Juan, Puerto Rico, about how the island is rebuilding two months after Hurricane Maria.

feathercollector / Fotolia

Just over a quarter-century ago, Milwaukee native Steve Wallace started Omanhene Cocoa Bean Company.  It is not one of the huge players on the scene, nor is it a small boutique that makes truffles.  Its greater significance is that it makes chocolate bars in the African nation of Ghana, where the cocoa beans are grown.

The Environmental Protection Agency wants to change how it classifies "glider vehicles" — heavy trucks that are built by pairing a new chassis with an old diesel engine and powertrain. The move would keep the EPA from imposing Clean Air Act emissions standards on the trucks.

The House has narrowly approved a $1.4 trillion tax overhaul, clearing the first major hurdle in Republican attempts to cut taxes and rewrite the tax code.

The vote was almost along party lines, with no Democrats voting in support of the bill and some GOP defections over provisions in the measure that would eliminate important tax deductions taken by constituents in some high tax states.