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Monday
Jan232017

President Trump Meets with Top US Business Executives 

SAUL LOEB/AFP/Getty Images(WASHINGTON) -- President Trump hosted business leaders at the White House on Monday to discuss his proposed border tax.

The president wants to tax companies that are looking to close operations in the U.S. and move outside of the country.

During the meeting, he said, "We think we can cut regulations by 75 percent, maybe more, but 75 percent,” in an effort to make American operations more appealing to business executives.

Throughout his campaign, President Trump promised voters he would keep businesses in the U.S. He has also vowed to cut taxes for both businesses and the middle class.

SpaceX and Tesla CEO Elon Musk, Mark Fields of Ford Motor Company and Kevin Plank of Under Armour were all in attendance.

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Monday
Jan232017

US Stocks Close Lower as President Trump Begins Term

iStock/Thinkstock(NEW YORK) -- U.S. stocks closed lower Monday after President Trump began his first full days in office.

The Dow fell 27.40 (-0.14 percent) to finish at 19,799.85.

The Nasdaq gave up 2.39 (-0.04 percent) to close at 5,552.94, while the S&P 500 finished at 2,265.20, down 6.11 (-0.27 percent) from its open.

Crude oil prices were under $53 a barrel, down nearly 1 percent.

President Trump:
After a rocky weekend, the president met with key U.S. business leaders at the White House on Monday where he renewed his commitment to the border tax. President Trump said, "The regulations are going to be cut massively and the taxes are going to be cut way down."

Mark Field, CEO of Ford Motor Company, said the meeting was "very positive," and Dow Chemical's Andrew Liveris said they talked about the border tax quite a bit.

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Monday
Jan232017

Sierra Nevada Recalls Bottles of Beer over Packaging Flaw

Sierra Nevada Brewing Co.(MILLS RIVER, N.C.) -- Sierra Nevada Brewing Company is recalling some of its 12-ounce bottles of beer over a packaging flaw that could result in a small piece of glass breaking off and falling into the bottle.

"While we believe this concern impacts roughly 1 in every 10,000 (0.01%) of our bottles packaged during this time, Sierra Nevada has set the standard for quality in the craft brewing industry since 1980 and we have decided to take this precaution to ensure the safety of our consumers," Mike Bennett, the company's chief supply chain officer, said in a statement Sunday.

"To date, we have not received any consumer reports of injuries resulting from the potentially affected bottles and we are working with our supplier to determine the root cause of the issue," Bennett added.

Sierra Nevada says the flaw was detected in a "very limited number of bottles" following quality inspections at its brewery in Mills River, North Carolina.

The recall affects eight brews that were packaged between Dec. 5 and Jan. 13, and purchased in 36 states across the Midwest, the South and East Coast.

[ CLICK HERE TO SEE THE LIST OF AFFECTED BREWS ]

Sierra Nevada says it has stopped distributing the affected beer and is working to have the bottles pulled from store shelves. Customers affected by the recall are being asked to dispose of the beer and are eligible for a full refund.

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Monday
Jan232017

USPS Raises Price of First-Class 'Forever' Stamps to 49 Cents

USPS(WASHINGTON) -- If you're mailing a first-class letter on Monday, it's going to cost you slightly more.

On Jan. 22, the U.S. Postal Service raised the price of a first-class "Forever" stamp to 49 cents. That's up 2 cents from last April, when the agency dropped the price to 47 cents.

Customers sending postcards won't be affected by the hike, however. USPS says those stamps will remain at 34 cents a piece.

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Monday
Jan232017

United Airlines Resumes Flights After IT Issue

Raymond Boyd/Michael Ochs Archives/Getty Images(NEW YORK) -- United Airlines flights are back on schedule after an IT issue caused planes to be grounded for nearly three hours on Sunday.

United spokesperson Maddie King said in a statement that the issue had been resolved and flights had resumed by 8 p.m. CT Sunday evening.

All United flights bound for the mainland U.S. on Sunday were held due to an "IT issue," according to officials. More than 200 flights were affected.

A computer issue affected pilots' ability to receive information prior to departure, such as weight and balance information, the airline said.

The airline apologized for the inconvenience and offered system-wide waivers for users who wanted to change their flight.

United suffered a similar outage in October of 2016, but that one was system-wide, affecting flights around the world. At the time, the airline said it had "experienced an issue with the weight reporting system" followed by an outage in its reservation systems.

Many major airlines are dealing with outdated computer systems, patched together after mergers with other airlines.

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Monday
Jan232017

Samsung Reveals Cause of Exploding Galaxy Note 7 Smartphones

Samsung(NEW YORK) — Samsung has just revealed the cause behind its exploding Galaxy Note 7 phones. The company blamed battery manufacturing and design flaws, which resulted in recalls and stopped production of the igniting phones.


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Monday
Jan232017

Russian Company Unveils $25K Cellphone — And It's Not Smart

iStock/Thinkstock(MOSCOW) — A Russian company has unveiled the perfect accessory for a wealthy, religious person looking to curb an Internet addiction. Or something. Gresso's 988, also known as the "Orthodox phone," is covered in gold leaf, with 18-carat gold buttons, and is adorned on the back with an Orthodox cross.

What it doesn't have is any smartphone capability, or a camera that can compete with offerings from say, Samsung or Apple.

“We wanted to minimize users’ Internet addiction and concentrate on the mobile itself and the real world, not a virtual one,” said Anatoly Sautin, a PR rep for Gresso to the Russian outlet RT.

The company also has more luxe options like diamond-inlaid buttons, and a more economical version with less bling, for a little over six grand.

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Saturday
Jan212017

Sundance Says Cyberattack Caused Box Office to Close Briefly

iStock/Thinkstock(PARK CITY, Utah) -- The Sundance Film Festival was hit by a cyberattack briefly on Saturday, according to event officials.

The festival said on social media that the cyberattack caused network outages, shutting down Sundance's box office. All screenings were set to take place as planned, organizers assured filmgoers, but there was no further information available on the attack.

"The show must go on, and our artist's voices will be heard," the Sundance Film Festival said.

Organizers later updated filmgoers to say online ticketing for future shows and the Salt Lake City box office were both back up and running.

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Friday
Jan202017

US Stocks Close Higher as Donald Trump Becomes President

iStock/Thinkstock(NEW YORK) -- U.S. stocks closed higher on Inauguration Day, but the Dow and the S&P posted weekly declines.

The Dow jumped 94.85 (+0.48 percent) to finish at 19,827.25.

The Nasdaq gained 15.25 (+0.28 percent) to close at 5,555.33, while the S&P 500 finished at 2,271.31, up 7.62 (+0.34 percent) from its open.

Crude oil prices were at $53 a barrel, up 2 percent.

Winners and Losers: Shares in Rite-Aid Corp tumbled 16 percent after a report from Bloomberg said the Federal Trade Commission was not satisfied with the proposed offer to merge with Walgreens, and the deadline for the deal is just a week away.

Skyworks Solutions Inc.'s quarterly report beat investors' expectations and shares surged 13 percent. The semiconductor company is Apple Inc.'s chip supplier.

Fourth-quarter revenue of General Electric fell short of analysts' estimates, causing the stock to plummet 2 percent.

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Friday
Jan202017

Before Criticizing American Elite, President Trump Thanked Them for $100 Million Donation

ABC News(WASHINGTON) -- In his Inaugural Address Friday, President Donald Trump harshly criticized the Washington establishment.

“The establishment protected itself but not the citizens of the country,” he said.

But just 15 hours earlier, at an exclusive black-tie dinner, Trump saluted the corporate bosses and wealthy elite who had contributed close to $100 million for his inaugural committee.

“I want to thank all our donors,” he said to the donors whose names, under the law, can be kept secret for at least three months.

Each donor left the dinner with the President-elect carrying a large Tiffany blue gift bag.

The biggest donors were seated near the Trump family and members of Congress during the Inaugural swearing-in.

Later, many of them were at the Trump hotel bar where waiters used sabers to cut off the top of expensive bottles of champagne.

The $100 million raised by the Trump Inaugural committee is almost twice as much as was raised by President Obama’s team for is first inauguration in 2009.

The former chairman of the Obama Inaugural committee, Steve Kerrigan, said he could not understand why the Trump people appear to have raised far more than was needed for what was described as a scaled-down, “workmanlike” inaugural with far fewer balls and events than the Obama inauguration.

“The $100 million is far too much,” said Kerrigan. “They need maybe $30 million so the additional $70 million or whatever it’s going to be, I question where that’s going to go, what they’re going to do with it.”

Trump Inaugural committee officials say any money left over will be donated to charity.

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