NEW YORK (AP) — U.S. stock indexes moved mostly lower in early trading Monday after the market reached a record high last week. At 10:35 a.m. Eastern Time, the Dow Jones industrial average fell 49 points to 17,089. The S&P 500 lost seven points to 2,001. And the Nasdaq composite rose four points to 4,587.
WASHINGTON (AP) — Treasury Secretary Jacob Lew says the Obama administration will decide “in the very near future” what actions it can take to make it less profitable for U.S. companies to shift their legal addresses to other countries. A growing number of U.S. companies are shifting their addresses abroad in an effort to reduce their U.S. taxes. In a speech today, Lew said these companies are eroding the U.S. tax base and shifting the burden of funding the government to other taxpayers.
UNDATED (AP) — Twitter is testing a way to let users go shopping or make charitable contributions between tweets. A small percentage of users will receive tweets from Twitter test partners today featuring a “buy” button that lets them make purchases or donate money. Initial partners are the musical groups Soundgarden and Panic! At The Disco, retailers Home Depot and Burberry, and nonprofits The Nature Conservancy and GLAAD. Users are then directed to enter shipping and payment information.
WASHINGTON (AP) — Harvard Business School alumni are offering a dim picture for the future of U.S. workers. More than 40 percent of those surveyed foresee lower pay and benefits for workers. Roughly half favor outsourcing work over hiring staffers. And nearly half say they’d rather invest in new technology than hire or keep workers. But at the same time, they say it’s becoming harder for executives to find skilled workers.
NEW YORK (AP) — Hertz Chairman and CEO Mark Frissora has stepped down from his posts for personal reasons. Fissora had served as CEO of the car rental company since January 2007. Hertz says Brian P. MacDonald, president and CEO of Hertz Equipment Rental Corp., will serve as interim CEO of Hertz Global Holdings Inc.
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