US Business News

GM Offers Buyouts to 400 Cadillac Dealers

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General Motors is offering 400 of its smallest Cadillac dealers a modest buyout as the luxury brand’s management team looks to reshape the image of its sales outlets to better compete with rivals.

UPS Uses Drone to Deliver Package to Boston-Area Island

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United Parcel Service said it used a drone to deliver medicine to an island near Boston, jumping into a race with competitors such as Amazon.com to test drone delivery inside the U.S.

Hillary Clinton Proposes 65% Top Rate for Estate Tax

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Democratic presidential candidate Hillary Clinton would impose a 65% tax on the largest estates and make it harder for wealthy households to pass appreciated assets to their heirs without paying taxes, according to an updated version of her tax plan released Thursday.

Yellen to Testify on Bank Supervision on Capitol Hill Wednesday

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Federal Reserve Chairwoman Janet Yellen will speak before the House Financial Services Committee at its semiannual hearing on the central bank’s supervision and regulation of the financial system.

Immigration Does More Good Than Harm to Economy, Study Finds

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Immigration has little effect on the wages or employment levels of native-born Americans over the long haul and is a net benefit for long-term economic growth, according to one of the most comprehensive studies on the flow of workers into the U.S.

Existing-Home Sales Fall for Second Straight Month

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Americans reduced home buying for the second straight month in August, suggesting the housing market might be stumbling due to a run-up in prices, an inventory shortage and persistent doubts about the economy’s strength.

World Bank Moves to Tap Private Debt Markets

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The World Bank has begun a game-changing overhaul of its development financing for the poorest countries by leveraging the private sector. As a first step, its financing arm Thursday secured a triple-A rating.

Central Bank Tools Lose Their Edge

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Central banks have shown the will to hit their growth and inflation targets. But do they have the way? That question is more pointed after the Bank of Japan on Wednesday announced two new central-bank firsts, Greg Ip writes.

Yellen Says Fed Isn't Playing Politics With Rates

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Federal Reserve Chairwoman Janet Yellen dismissed suggestions from Republican presidential nominee Donald Trump that the Fed is playing politics with its interest-rate decisions.

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