Wall Street finishes on high note ... Senate-Tax-Overhaul ... Walmart-Lord & Taylor Alliance
NEW YORK (AP) — Consumer and household goods companies led the stock market higher on Wall Street today, offsetting losses by industrial and energy stocks. The Standard & Poor’s 500 index rose 2.54 points, or 0.1 percent, to 2,584.84. The Dow Jones industrial average gained 17.49 points, or 0.1 percent, to 23,439.70. The Nasdaq composite added 6.66 points, or 0.1 percent, to 6,757.60.
WASHINGTON (AP) — A bipartisan analysis released today shows that the Senate tax overhaul plan, which has been promoted as relief for the middle class, would actually increases taxes for some 13.8 million moderate-income American households. The assessment was done by the nonpartisan Joint Committee on Taxation.
NEW YORK (AP) — Walmart will devote a section on its website to upscale Lord & Taylor, the latest strategic partnership as retailers make alliances. The initiative announced today will start next spring. Lord & Taylor hopes it’ll attract new customers already buying higher-end products on walmart.com. For Walmart, which has bought trendy fashion brands like ModCloth and Bonobos as it tried to broaden its customer base, the partnership is another move toward trying to create a premium online fashion destination.
ATHENS, Greece (AP) — Greece’s prime minister says his government will again distribute one-off Christmas payments to low-earning Greeks, drawing from a budgetary surplus built on severe spending cuts and high taxes. Alexis Tsipras says 1.4 billion euros ($1.6 billion) will be given to at least 3.4 million Greeks this holiday season, compared to the 617 million euros issued to pensioners last year.
NEW YORK (AP) — Vanity Fair has chosen its successor to longtime editor-in-chief Graydon Carter. Radhika Jones, who for the past year has been editorial director of the books department at The New York Times, will join Vanity Fair on Dec. 11. Carter, editor in chief since 1992, announced earlier this year that he was stepping down.