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Here are today’s top business headlines from across the nation and world:
SEOUL, South Korea (AP) — Global stock markets rallied on Tuesday as a rebound in oil prices and upbeat economic data brightened investor sentiment. Read more
WASHINGTON (AP) — Interest rates on short-term Treasury bills were mixed in Monday’s auction.
The Treasury Department auctioned $28 billion in three-month bills at a discount rate of 0.220 percent, down from 0.230 percent last week and the lowest rate since Jan. 11, when those bills have averaged 0.215 percent. Another $24 billion in six-month bills was auctioned at a discount rate of 0.350 percent, the same as last week. Read more
TOPEKA, Kan. (AP) — After he became Kansas governor in 2011, Sam Brownback slashed personal income taxes on the promise that the deep cuts would trigger a furious wave of hiring and expansion by businesses.
But the “shot of adrenaline” hasn’t worked as envisioned, and the state budget has been in crisis ever since. Now many of the same Republicans who helped pass Brownback’s plan are in open revolt, refusing to help the governor cut spending so he can avoid rolling back any of his signature tax measures. Read more
NEW YORK (AP) — Amazon is taking on Netflix and Hulu with its own stand-alone video streaming service, just weeks before Netflix raises prices by $2 for longtime subscribers.
New customers can now pay $8.99 a month to watch Amazon’s Prime video streaming service. Previously, the only way to watch Amazon’s videos was to pay $99 a year for Prime membership. Amazon’s stand-alone streaming service is $1 less than Netflix’s standard membership and $1 more than Hulu’s basic subscription. Read more
NEW YORK (AP) — Nordstrom Inc. said Monday it will cut about 350 to 400 jobs as it looks to be more nimble at a time where shoppers are shifting their spending more online.
The cuts will be primarily in its corporate center and regional support teams. The company said the process should be completed by the end of its fiscal second quarter and will lead to $60 million in savings for the current fiscal year. Nordstrom employs more than 70,000 people. Read more