Stocks rise…Buffett: Economy still improving, at slower rate…Google seeks tax breaks for Minnesota data center
NEW YORK (AP) – Stocks are broadly higher in afternoon trading on Wall Street after President Donald Trump agreed to hold off on raising tariffs on Chinese goods. Information technology and industrial companies are leading the gains. Consumer goods and utility companies are lagging the overall market.
OMAHA, Neb. (AP) – Billionaire Warren Buffett says the economy continues growing although the rate of improvement has slowed. Buffett told CNBC today that the reports he gets from Berkshire Hathaway’s assorted businesses haven’t suggested the economy flattening out. But Buffett says the slow pace of home construction remains puzzling because he expected more renters would be buying their first homes by now – a decade after the recession. Buffett says inflation is clearly increasing, but he hasn’t seen anything alarming at this stage.
BECKER, Minn. (AP) – Google’s plan to build a $600 million wind-powered data center in central Minnesota may hinge on the tech giant’s request for officials to waive 20 years’ worth of future taxes. Minnesota Public Radio News reports that Google has asked Sherburne County and the city of Becker for property tax breaks that could save the company up to $15 million. The Minnesota Public Utilities Commission is already reviewing Google’s proposed facility, which would be largely powered by Xcel Energy wind farms. The project will bring an estimated 50 tech jobs to the area.
NEW YORK (AP) – President Donald Trump’s company says it has donated nearly $200,000 to the U.S. Treasury to make good on its promise to hand over profits from foreign governments using its properties. The Trump Organization says the donation represents profits from embassy parties, hotel stays and other foreign government spending at its Washington, D.C., hotel and other properties last year. The donations haven’t quieted critics who say Trump is violating the Constitution’s prohibition against presidents accepting gifts or payments from other governments.
UNDATED (AP) – The U.S. is warning pilots to use caution when flying to or over Venezuela because of civil unrest there. The Federal Aviation Administration says there is no evidence to suggest that Venezuela’s military would target civilian planes, but mistakes are possible. Several airlines halted flights to Venezuela as chaos and political strife grew, but a few still fly there.