Reuters - Business Today

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Wednesday, April 26, 2017

Trump's plan to slash business taxes seen as 'guidepost' by congressional Republicans

WASHINGTON (Reuters) - U.S. President Donald Trump on Wednesday proposed slashing tax rates for businesses and on overseas corporate profits returned to the country in a plan that his fellow Republicans in Congress generally welcomed but viewed as an opening gambit.

U.S. Congress may seek one-week funding extension to avert shutdown

WASHINGTON (Reuters) - The U.S. Congress inched toward a deal to fund the government through September but was preparing to possibly extend a midnight Friday deadline in order to wrap up negotiations and avoid an imminent government shutdown.

Wall Street ticks lower as Trump tax priorities unveiled

New York (Reuters) - U.S. stocks ticked lower on Wednesday following two sessions of strong gains as strong corporate earnings were offset by uncertainty over the feasibility of a proposed business tax cut.

Twitter posts strong user growth, shares soar

(Reuters) - Shares of Twitter Inc jumped on Wednesday after the microblogging service reported better-than-expected user growth in the first quarter, although its revenue fell for the first time.

Digital ad spend jumps 22 percent to $72.5 billion in 2016: report

(Reuters) - Marketers spent $72.5 billion on digital advertising last year, an increase of 22 percent from 2015, as Google and Facebook once again booked the lion's share of new revenue, a report released by the Interactive Advertising Bureau said on Wednesday.

PayPal's profit, revenue beat on higher processing volumes

(Reuters) - Payment processor PayPal Holdings Inc reported higher-than-expected quarterly profit and revenue on Wednesday, helped by an increase in payment processing volumes and customer additions.

Exclusive: ADM names new global trade desk chief as part of wider shakeup - memo

BUENOS AIRES (Reuters) - Archer Daniels Midland Co has replaced the leader of its global trading desk, according to an internal memo seen by Reuters on Wednesday, as the company sheds traders around the world while grappling with huge grain supplies that have weakened margins.

Cost controls help offset lower Amgen first-quarter drug sales

(Reuters) - Amgen Inc on Wednesday reported higher-than-expected first-quarter profit as cost controls helped offset a sharp drop in sales of Enbrel, its blockbuster rheumatoid arthritis and psoriasis drug.

Automakers want California to revise Volkswagen charging station plan

WASHINGTON (Reuters) - Major automakers and other groups are raising objections to the way Volkswagen AG wants to spend $2 billion on electric vehicle infrastructure and projects, as part of the German automaker's atonement for diesel emissions cheating.

Ex-Jefferies Group trader sentenced to two years for fraud

NEW HAVEN, Conn. (Reuters) - A federal judge in Connecticut on Wednesday sentenced a former Jefferies Group bond trader to serve two years in prison and pay a $2 million fine after he was found guilty earlier this year of defrauding customers on bond prices.