Many companies are giving shareholders special year-end dividends in the expectation that tax rates will increase next year. The dividend tax rate for high earners could jump from 15 percent to 43.4 percent. That's leading to a flurry of payouts, including sizable ones to company insiders.
General Motors says it's building the plant with its joint venture partners in China. Set to open in 2015, it will be the third GM plant in what is now the world's biggest auto market. The company hopes the plant will eventually produce up to 2 million vehicles annually.
As the White House and Congress debate how to steer clear of the fiscal cliff, one obstacle is President Obama's insistence that the wealthy should pay more in taxes — though recently some Republicans have signaled some openness to raising revenues. One of Obama's proposals is to raise the tax rate on capital gains and dividends.
Amazon's"Prime" service — at $79 a year — includes free two-day delivery on any item Amazon stocks. That includes, according to the Wall Street Journal, a 1,500-pound safe. The company that makes the safe says it usually ships for $700.
Nearly a month after Sandy, thousands of New Yorkers still don't have electricity because they're waiting for an electrician to repair and certify wiring that was damaged by flooding. Some local officials have called on City Hall to allow electricians certified outside the city to work there until the crisis abates, but the city hasn't budged.
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