Philadelphia officials have made no secret that as of this year’s Tax Day, they are applying the city’s Business Income and Receipts Tax — $1.41 per $1,000 of sales and $57.10 per $1,000 of profits — even when sales are under $100,000. That income used to be tax-exempt.

The city estimates 75,000 small-business owners may owe the tax for...Read more

A City Council majority failed Wednesday to override Mayor Brandon Johnson’s veto of their earlier measure freezing raises set to eliminate Chicago’s subminimum wage for waiters and other tipped workers.

Aldermen voted 30 to 19, short of the 34 needed to beat Johnson’s veto and keep current wages in place. The outcome secures ongoing ...Read more

A California woman has won a lawsuit against cruise giant Carnival Corp., in which the Florida-based company was found negligent for serving her at least 14 shots of tequila in an 8 1/2-hour period and liable for subsequent injuries she suffered while inebriated onboard.

A Miami federal jury ruled in the passenger’s favor on April 10 and ...Read more

President Donald Trump said he would fire Jerome Powell as chair of the Federal Reserve if he does not leave that post “in time,” and insisted that the Justice Department investigation into the central bank leader would continue.

“I’ll have to fire him, OK, if he’s not leaving on time. I’ve held back firing him. I’ve wanted to ...Read more

The biggest banks on Wall Street didn’t let record earnings stop them from trimming more than 5,000 jobs in the first quarter.

The bulk of the cuts were at Wells Fargo & Co., which reduced its headcount by 4,199 jobs in the first three months of the year, followed by Citigroup Inc. with 2,000 and Bank of America Corp. with 1,073. JPMorgan ...Read more

Snap, the parent company of disappearing messaging app Snapchat, said Wednesday that it's laying off 1,000 workers to reduce costs.

The Santa Monica, California, social media company is pursuing profitability and efficiency as it faces stiff competition for ad dollars from bigger rivals such as Facebook parent company Meta and Google.

Snap ...Read more

Mythos, a new artificial intelligence model that Anthropic PBC has teased as too dangerous to release, looked at first like a problem for banks. Days after the company announced the new technology, U.S. Treasury Secretary Scott Bessent summoned Wall Street leaders to make sure they were taking precautions to defend their systems, creating ...Read more

One of Los Angeles’ most influential home builders, KB Home, is relocating its headquarters out of state, becoming the latest high-profile firm to do so.

The company, which has been based in Los Angeles since 1963 and helped build its sprawling suburbs, is moving its main office to the Phoenix metropolitan area by spring 2027, in part to ...Read more

The California Air Resources Board on Tuesday announced it has made further tweaks to controversial updates to the state’s Cap-and-Invest program, in an attempt to balance competing concerns at a time when global events threaten to drive the cost of living in the Golden State even higher.

The proposed changes came as oil companies warned that...Read more

Looking at products released in the last few years, you’ll notice Apple is paying more attention to the lower cost end of the market.

These would include the iPad at $349, the MacBook Neo at $599 and, the subject of this week’s review, the iPhone 17e.

Apple has a way of positioning products in price tiers. The iPhone 17 family includes the...Read more

Microsoft Corp., the world’s biggest investor in carbon removal projects, rejected speculation that it is abandoning its efforts to build out the technology.

“Our carbon removal program has not ended,” Microsoft Chief Sustainability Officer Melanie Nakagawa, said in an emailed comment to Bloomberg. “We continue to both build on and ...Read more

President Trump has signed a bill restoring federal funding to tech startups in California and elsewhere, money that had been held up for more than six months.

The Small Business Administration money, a key source of capital for new aerospace and defense firms in the Los Angeles region, ran out in October after a Congressional impasse.

The ...Read more

Amazon.com Inc.’s $11.6 billion deal to buy Globalstar Inc. ramps up competition with Elon Musk’s Starlink in satellite communications, a market predicted to double to $200 billion in the coming years.

On Tuesday, Amazon announced plans to buy the satellite operator for a mix of stock and up to $90 a share and said that in 2028 it will ...Read more

Costco pushed back last week against claims of salmonella risk in its beloved $5 rotisserie chicken, following a proposed class-action lawsuit.

Attorneys at Seattle law firm Perkins Coie representing the Issaquah-based chain of membership warehouses said in a Friday motion that plaintiff Lisa Taylor, who filed a complaint in February, doesn’t...Read more

With the World Cup kickoff less than two months out, Miami-Dade labor leaders want to ensure that the benefits of hosting games reach the people who staff them.

At a press conference Tuesday, organizers presented a letter signed by 30 labor leaders and addressed to Alina Hudak, the president of Miami’s World Cup Host Committee. In it, they ...Read more

Industry consolidation and the exodus of film production work overseas took center stage Tuesday at the CinemaCon trade convention in Las Vegas.

Head theater lobbyist Michael O'Leary said his trade group will continue to oppose the proposed merger between Paramount Skydance and Warner Bros. Discovery, arguing the combination of two studios ...Read more

MIAMI BEACH — One cruise line has had a bigger challenge than others amid the war in Iran, but the leaders of four of the biggest cruise companies in the world all said the global oil situation is something they can’t ignore despite record numbers of people sailing.

The heads of the parent companies for Royal Caribbean, Carnival, Norwegian ...Read more

The Walt Disney Co. has begun a broad round of layoffs that is expected to result in 1,000 jobs being cut across multiple divisions within the Burbank entertainment giant.

The layoffs, which began Tuesday, will ripple across Disney's television and movie studios, sports giant ESPN, its product and technology unit, corporate functions and ...Read more

Boeing delivered fewer airplanes in March than the month prior as it dealt with an issue on a small number of 737 Max planes.

Still, the planemaker’s first quarter deliveries rose above 2023 levels, the company said Tuesday.

Boeing delivered 143 airplanes in January, February and March this year, an increase from 130 planes in the same three...Read more

Alphabet Inc.’s Google is facing billions of dollars in potential damage claims as part of mass arbitration tied to the company’s online search and advertising technology businesses, which courts have ruled were illegal monopolies.

Advertisers are banding together to seek payouts through mass arbitration proceedings. While many companies ...Read more