Within the next two years, Ford will no longer build any small cars in the United States, the automaker said Wednesday.
Production of the Ford (F) Focus and C-Max, the only small cars Ford still assembles in the United States, will be moved to Mexico, according to a Ford spokeswoman. Ford has previously said it was opening a new plant in Mexico that would employ 2,800 workers there.
The Ford Fiesta subcompact is already being assembled in Mexico. The high-performance Ford Focus RS is made in Germany. read more
The executive branch of the European Union has found that Ireland granted unfair and illegal tax breaks to the tech giant Apple, and ruled that Apple now owes more than $14.5 billion in back taxes. The commissioner in charge of competition policy, Margrethe Vestager, says that under EU rules, "Member states cannot give tax benefits to selected companies." The European Commission found that Ireland allowed Apple Inc. -- which has two companies incorporated in Ireland, Apple Sales International and Apple Operations Europe -- to pay far less in taxes than other companies did. read more
HOW can America's leaders foster broad prosperity? For most Republicans -- including Donald J. Trump -- the main answer is to "cut and extract": Cut taxes and business regulations, including pesky restrictions on the extraction of natural resources, and the economy will boom.
Mr. Trump and House Speaker Paul Ryan are united by the conviction that cutting taxes -- especially on corporations and the wealthy -- is what drives growth. read more
Waste people. Rubbish. Clay-eaters. Hillbillies. Two new books that reckon with the long, bleak history of the country's white poor suggest their plight shouldn't have caught the rest of the country off guard. read more