US goes ahead with tax on Canadian newsprint
The U.S. Commerce Department is going ahead with a tax on Canadian newsprint, a threat to the already-struggling American newspaper industry. The revised tariffs unveiled Thursday are mostly lower than those originally imposed earlier this year. But they would still hit the paper used by newspapers and other publications with an anti-dumping border tax as high as 16.88 percent.
Trump sides with House in fight over food stamps
President Donald Trump is siding with House Republicans in the showdown over work requirements for food stamp recipients. Trump on Thursday tweeted that he hopes lawmakers “will be able to leave the WORK REQUIREMENTS FOR FOOD STAMPS PROVISION that the House approved.”
CBS 2Q net income up as CEO faces probe
CBS is reporting a boost in second-quarter net income from the tax overhaul and higher fees from affiliates and subscribers, as turmoil swirls around the media company ahead of the important fall TV season. It faces an investigation of its CEO and is in the middle of a lawsuit against its parent company as the all-important fall TV season approaches.
Starbucks, Alibaba announce China venture
Starbucks and Chinese e-commerce giant Alibaba Group have announced a coffee delivery venture that adds to growing competition in China’s booming delivery industry. The companies said deliveries will start next month in Beijing and Shanghai and will expand to 30 cities by the end of the year. The service mimics Luckin, a Chinese upstart that is challenging Starbucks by delivering coffee ordered using a mobile phone app.
Reports: Google working on censorship-ready search
Google is reportedly working on a mobile version of its search engine that will comply with strict censorship controls in China.
The Intercept reported that the work has been ongoing since the spring of 2017 and was accelerated in December following a meeting between Google CEO Sundar Pichai and a top government official. It cited internal Google documents and unnamed people familiar with the plans.
US mends ties, prepares for trade war with China
Gathering strength for a brutal trade war with China, the United States appears to be trying to patch things up with its friends.
U.S. and Mexican negotiators are meeting in Washington Thursday and Friday to work on a rewrite of the North American Free Trade Agreement — an effort that looked virtually dead a few months ago.