The tax cut would be part of four main goals the president said should be included in a tax overhaul: simplifying the tax code, making it more competitive with tax regimes in other countries, providing tax relief for middle-class families and encouraging U.S. companies to bring back trillions of dollars in profits "parked overseas."
Aside from the call for a new corporate rate, Trump provided no specific changes he wants in the reform.
Local media have reported explosions and black smoke at the in Crosby, Texas plant, which manufactures, among other products, organic peroxide, in the early hours of Thursday morning. The plant had been damaged by the high winds and flooding associated with Harvey.
Arkema had warned Wednesday that the plant would catch fire and explode at some point, adding there was nothing that could be done about it.
What you need to about Arkema.
Most cuts are expected to take place at the ABC broadcast network, its television production studio, ABC News and local television stations. Cable networks Disney Channel and Freeform also likely see their workforces reduced as well, the people told the Journal.
The cuts are expected to represent 10% of the unit's annual costs and will be identified by the end of Disney's current fiscal year in September, according to the Journal.
4. -- Dara Khosrowshahi, the new CEO of Uber Technologies Inc., said Wednesday the ride-hailing company could go public in 18 to 36 months.
Khosrowshahi, who ran Expedia Inc. (EXPE - Get Report) for 12 years, made the remarks as he introduced himself to Uber's workforce on Wednesday during an all-staff meeting at its San Francisco headquarters, Reuters reported.
The CEO's plans include rebuilding Uber's culture and growing market share as well as possibly conducting an initial public offering in 18 to 36 months, according to people who attended the meeting, Reuters reported.
Meanwhile, Mark Okerstrom, who most recently served as Expedia's chief financial officer, was named CEO of the online travel-booking service.
Earnings reports are also expected Thursday from Campbell Soup Co. (CPB - Get Report) , Land's End Inc. (LE - Get Report) , Lululemon Athletica Inc. (LULU - Get Report) , Ciena Corp. (CIEN - Get Report) and Palo Alto Networks Inc. (PANW - Get Report) .
Updated from 6:06 a.m. ET
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