Wednesday, January 03, 2018 1:00 am
Feds probe motor home tires' safety
DETROIT – U.S. safety regulators are investigating whether some older Goodyear motor home tires can fail and cause crashes and possibly deaths.
The National Highway Traffic Safety Administration says it began the probe after a court ordered the release of Goodyear data from lawsuits, which had been sealed under court orders and confidential settlement agreements.
According to the data, the G159 tires failed while in use, resulting in deaths and injuries. The agency says in documents posted Monday that the number of claims suggests the failures could be caused by a safety defect. Goodyear wasn't required to report many of the claims to NHTSA under federal law.
The investigation covers about 40,000 tires from 1996 to 2003.
The agency also received 10 complaints of tire failure, including two that caused crashes.
IRS, Treasury allow use of lower rate
The Internal Revenue Service and the Treasury Department will generally allow existing loans and other related-party transactions involving the overseas affiliates of multinational corporations to be taxed at the lower of two preferential rates, according to an official notice.
The notice says the IRS and the Treasury Department plan new regulations clarifying how multinational companies must compute tax bills on the foreign earnings they have accumulated.
The new tax law requires companies to pay taxes on those earnings at two discounted rates – 15.5 percent on income held as cash and cash equivalents, and 8 percent for illiquid assets. Those rates apply to an estimated $3.1 trillion in earnings stockpiled overseas since 1986.
McDonald's to test fresh-beef burger
McDonald's says it's using fresh beef in another burger, the latest test by the chain to swap out frozen beef as it seeks to improve the image of its food.
The company says the new burger, called Archburger, is being tested in seven McDonald's restaurants in Tulsa, Oklahoma.
McDonald's held similar tests for fresh beef Quarter Pounders for about a year before announcing in March that it would roll it out to most of its 14,000 restaurants by the middle of this year.
Trump Ireland club again loses money
Donald Trump has lost money for a third year in a row at his golf club in Ireland.
Financial statements filed with the Irish government show the resort owned by the U.S. president lost about $2.6 million in 2016, the latest year available. The losses were down 14 percent from losses a year earlier.
The resort was hurt by a shutdown in 2015 and part of 2016 while it was being refurbished. The losses come amid signs of trouble at other Trump golf properties.
Broadway toasts record end to year
The year on Broadway has come to a very sparkly end for theater producers as many shows recorded their most profitable weeks ever despite theater-goers facing bitter cold and some eye-popping ticket prices.
The Broadway League national trade association says 10 shows last week earned more than $2 million, led by “Hamilton,” “The Lion King” and “Wicked,” which each pulled in more than $3 million.
The year ended with grosses soaring to $1.6 billion, attracting 13.74 million patrons, both records.