Business

Why is Chiquita Lobbying Against a 9/11 Victims Bill?

Why is Chiquita Lobbying Against a 9/11 Victims Bill?
Banana giant Chiquita is aggressively lobbying against a 9/11 victims bill that would make it easier to sue financial backers of terrorist groups.
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High and Dry: Treasury Defends Rules on Banks, Marijuana Sellers

High and Dry: Treasury Defends Rules on Banks, Marijuana Sellers
Treasury Secretary Jack Lew on Tuesday defended the Obama administration's guidelines to banks conducting transactions with legal marijuana sellers as congressional Republicans questioned whether the guidance amounts to tacit federal approval of a drug illegal in most states. The Justice and Treasury departments issued a roadmap in February that would allow the new businesses to make payroll, save money and pay taxes, a move that enables the legalized marijuana industry to operate in Colorado and Washington state.
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Donna Cassata
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Google's Self-Driving Cars Mastering City Street Navigation

Google's Self-Driving Cars Mastering City Street Navigation
Google says that cars it has programmed to drive themselves have started to master the navigation of city streets and the challenges they bring, from jaywalkers to weaving bicyclists — a critical milestone for any commercially available self-driving car technology. Despite the progress over the past year, the cars have plenty of learning to do before 2017, when the Silicon Valley tech giant hopes to get the technology to the public.
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Justin Pritchard
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Exxon CEO Nets 3% Raise, Now Earns $28.1M Per Year

Exxon CEO Nets 3% Raise, Now Earns $28.1M Per Year
The CEO of Exxon Mobil Corp. received compensation worth $28.1 million last year, a 3 percent increase over the previous year, according to an Associated Press analysis of a company regulatory filing. Most of Rex W. Tillerson's compensation was in the form of stock awards, which the largest U.S. oil company valued at $21.3 million when they were granted.
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AP
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Sen Rand Paul Says Caterpillar Deserves 'an Award' for Dodging $2.4B in Taxes

Sen Rand Paul Says Caterpillar Deserves 'an Award' for Dodging $2.4B in Taxes
Testifying before the Senate Permanent Subcommittee on Investigations, representatives of Caterpillar, Inc. answered questions pertaining to a report that suggests the industrial giant has dodged $2.4 billion in taxes over the past decade. Amazingly, the investigation’s discoveries split the subcommittee along partisan lines. Democrats disapproved of the exploitation of tax havens while Republicans applauded the company for its diligence. Even more amazing, Sen. Rand Paul had the day's best quote.
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Chaz Bolte
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Loan Wars: High-Cost Lender Targeted by Federal Probe

Loan Wars: High-Cost Lender Targeted by Federal Probe
World Acceptance Corp., one of the largest high-cost installment lenders in the United States, disclosed late last week that it is the target of an investigation by the federal Consumer Financial Protection Bureau. Reports show that the company's loans are deceptively expensive and often trap low-income borrowers in a cycle of debt.
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Paul Kiel
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McDonald's Accused of 'Widespread Wage Theft' Across the Country

McDonald's Accused of 'Widespread Wage Theft' Across the Country
Several lawsuits across three states have put fast food giant McDonald's against the ropes over widespread claims of wage theft.
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The Video Big Food Doesn’t Want Parents to See

The Video Big Food Doesn’t Want Parents to See
Each year, “Big Food” spends $2 billion in marketing campaigns to get its unhealthy snacks and sugary drinks into the hands of children. This, and many other startling facts, were delivered in a video by Food MythBusters‘ Anna Lappe
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Halliburton, Chamber of Commerce Urging SCOTUS to Give Corps More Power Against Class-Action Suits

Halliburton, Chamber of Commerce Urging SCOTUS to Give Corps More Power Against Class-Action Suits
The Supreme Court is considering whether to abandon a quarter-century of precedent and make it tougher for investors to band together to sue corporations for securities fraud. The Obama administration opposes the change.
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Sam Hananel
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Apple CFO Steps Down Day After Joining Goldman Sachs Board

Apple CFO Steps Down Day After Joining Goldman Sachs Board
Apple's longtime Chief Financial Officer Peter Oppenheimer will retire in September and he'll be replaced by the company's corporate controller. The announcement Tuesday comes one day after Goldman Sachs named Oppenheimer as one of its 13 board members.
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AP
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