Page 25 - ARUBA TODAY 25

BUSINESS Saturday 25 March 2017
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US durable goods orders rose in February, led by aircraft

JOSH BOAK cent in January. Orders so to an ongoing rebound. jump in February. Orders The Federal Reserve has
AP Economics Writer far this year are running 1.6 “Manufacturing surveys also rose for primary met- said that U.S. factory output
WASHINGTON (AP) — percent higher than in the appear to promise much als. But demand for motor improved for the sixth con-
Greater demand for com- first two months of 2016. stronger numbers, so we’re vehicles slumped. secutive month in February,
mercial aircraft helped The growth indicates that hoping for better news Orders in a category that rising a seasonally adjusted
U.S. businesses increase manufacturers are steadily ahead,” said Ian Shep- reflects business investment 0.5 percent from January.
their orders for long-lasting recovering from a rough herdson, chief economist plans — and excludes air- And separately, the Insti-
manufactured goods in patch that began in 2015 at Pantheon Macroeco- craft and military goods — tute for Supply Manage-
February, but a key cate- when lower energy pric- nomics. fell 0.1 percent last month ment said that factory ac-
gory that tracks business in- es and slower economic Today’s report echoes the after a modest gain in tivity improved at the stron-
vestment plans slipped growth worldwide cut recent strength of the sur- January. But that category gest pace in more than
slightly. into demand for U.S. fac- veys in suggesting that remains stronger this year two years. Its manufactur-
The Commerce Depart- tory goods. The report con- ... business equipment in- than during the opening ing index reached 57.7 last
ment said Friday that orders tained some weakness in vestment has continued to months of last year. month, the best reading
for durable goods rose 1.7 a few sectors such as mo- rebound in the first quarter. Other reports indicate that since October 2014. Any
percent in February and an tor vehicles, but it is among Orders for commercial air- manufacturing is on an up- reading above 50 signals
upwardly revised 2.3 per- several indicators that point craft saw a 47.6 percent swing. growth.q

Mnuchin says administration tax plan coming soon

AP Economics Writer to win congressional ap-
WASHINGTON (AP) — proval of the tax measure
Treasury Secretary Steven by August. But if the time-
Mnuchin said Friday that line is delayed, he said he
after the initial congres- expected the proposal
sional battle over health to pass by the fall. At the
care, the administration White House, press secre-
plans to turn quickly to tax tary Sean Spicer acknowl-
reform with the goal of get- edged the August dead-
ting a program approved line is an “ambitious one”
by Congress by August. for such a comprehensive
“Health care is a very com- and complicated project,
plicated issue,” Mnuchin but he said it’s a goal the
said. “In a way, tax reform administration “is going to
is a lot simpler.” Mnuchin try to stick to.” “Tax reform
said he had been oversee- is something the president
ing work on the administra- is very committed to,” Spic-
tion’s bill over the past two er told reporters. Mnuchin
months and it would be had lunch at the White
introduced soon. He said House Friday with Presi-
it would be one proposal dent Donald Trump and
that would cover both cut- House Speaker Paul Ryan.
ting individual and corpo- In his earlier appearance,
rate taxes in the same leg- Mnuchin did not reveal
islation. “We are not cut- Janet Yellen, president of the Federal Reserve Board, and U.S. Treasury Secretary Steven Mnuchin whether the administration
ting this up and doing little talk to each others during the G20 finance ministers meeting in Baden-Baden, southern Germany. will include a contentious
pieces at a time,” Mnuchin Mnuchin said Friday that the administration plans to turn quickly to tax reform with the goal of get- border adjustment tax that
said. ting a program approved by Congress by August. is in a House tax proposal.
He said the goal was still (Uwe Anspach/dpa via AP) q

White House touts jobs commitment first made in 2015

TALI ARBEL won the presidency. Other But after meeting with be added over four years, were expecting the com-
AP Business Writers major companies includ- Trump in the Oval Office Fri- Rutledge said the compa- pany to spend roughly $30
WASHINGTON (AP) — Presi- ing General Motors and day, Rutledge credited the ny will also invest $25 billion billion on capital expendi-
dent Donald Trump on Ford have allowed Trump administration’s call to re- and open a new call cen- tures, such as buying cable
Friday praised a plan by to take credit for job deci- duce regulations and cor- ter in McAllen, Texas, that boxes and maintaining its
cable company Charter sions that either pre-date porate tax rates for contrib- will employ 600 workers. network, through 2020.
Communications to hire his election or involve mar- uting to the hiring decision. Texas Gov. Greg Abbott Call center jobs at Charter
20,000 American call cen- ket forces outside the ad- He went on to say that un- also attended the meeting. have a base pay of $14
ter workers. But the hiring ministration’s direct control. certainty over whether the Charter spokesman Justin an hour and total annual
initiative dates back to Charter CEO Tom Rutledge administration can deliver Venech said the company compensation of nearly
2015 as part of the com- had said at an investment those corporate tax cuts — previously had no time- $29,000, according to the
pany’s successful efforts conference in December in light of the muddle this frame for hiring the 20,000 jobs site Glassdoor.
to merge with Time War- 2015 that the company week over replacing former workers. The company Trump says the plans will
ner Cable. It’s the latest would have to make about President Barack Obama’s said Friday that it would be great for American
corporate jobs announce- 20,000 hires once it ac- health care law — could happen over four years. workers, telling Rutledge,
ment made at the White quired Time Warner Cable influence the company’s Venech also said the $25 “You watch, it will be one
House that capitalized on and Bright House to bring hiring commitment. billion investment was new, of your really fantastic
plans made before Trump outsourced jobs in-house. As part of the 20,000 jobs to although market analysts decisions.”q