Daily business briefing

Seattle approves a scaled-down tax over Amazon's objections, Chinese leader arrives in Washington for trade talks, and more Daily business briefing 1. [Seattle approves scaled-down 'head tax' over Amazon's objections]( The Seattle City Council on Monday [passed a scaled back version of the so-called Amazon tax]( which will impose a $275-per-employee "head tax" on companies in the city with more than $20 million in gross revenue. Seattle Mayor Jenny Durkan had threatened to veto the original $540-per-employee tax, saying it would cost too many jobs, but said she would sign the latest version. The city plans to use the tax on big businesses to build affordable housing and alleviate homelessness. The tax is expected to raise $44.7 million a year. Amazon, which has 45,000 employees in Seattle, said it was "disappointed by today's City Council decision to introduce a tax on jobs," but added that the company would resume construction of a 17-story office tower it had placed on hold. [[CNN]( the story here: 2. [China vice premier arrives in U.S. for trade talks]( A top Chinese economic official, Vice Premier Liu He, arrives in Washington on Tuesday for five days of trade talks. Liu's visit comes following a surprise announcement from President Trump via Twitter that he is working with Chinese President Xi Jinping on [helping get Chinese telecom ZTE "back in business"]( after the U.S. banned American firms from selling parts and services to ZTE for seven years as punishment for its failure to respect an agreement on avoiding trade with Iran. Observers said Liu could respond to Trump's gesture by offering easier access to Chinese markets for U.S. goods. [[South China Morning Post]( the story here: 3. [Stocks lose steam, threatening Dow's 8-day winning streak]( U.S. stocks rose slightly on Monday, giving back some of their earlier gains in a late-afternoon pullback. Shares rose early on signs of easing trade tensions between the U.S. and China. The S&P 500 and the Nasdaq composite rose by 0.1 percent, while the Dow Jones Industrial Average closed up 0.3 percent, its eighth straight day of gains. The Dow's winning streak appeared to be in doubt early Tuesday, with the index falling by 0.3 percent. Futures for the S&P 500 and the Nasdaq-100 also fell by 0.3 percent. Fresh data on retail sales and the housing market, as well as Federal Reserve speeches, could steer the market during the day. [[The Associated Press]( MarketWatch]( the story here: 4. [Supreme Court rules states can allow betting on sports]( The Supreme Court on Monday struck down a federal law prohibiting states from allowing sports betting, siding with New Jersey, where lawmakers passed legislation lifting prohibitions on some sports betting as part of a bid to revitalize Atlantic City as its casinos close. The majority opinion said sports gambling is controversial, with supporters saying it can provide states with revenue and opponents saying it gets young people hooked on betting and encourages "people of modest means to squander" their limited resources. The majority concluded that the legalization of sports gambling "requires an important policy choice, but the choice is not ours to make." Liberal Justices Ruth Bader Ginsburg and Sonia Sotomayor dissented. [[The Washington Examiner]( Supreme Court]( the story here: 5. [Toys 'R' Us sells off mascot, web addresses]( Toys 'R' Us is auctioning off its Geoffrey the Giraffe mascot and hundreds of website addresses, including sex-toys-r-us.com, that the bankrupt toy retailer bought to protect its brand. Toys 'R' Us, which is winding down its business and closing 735 U.S. stores, is also selling ihatetoysrus.com, toysrussucks.com, and kinkytoysrus.com. Major companies like Toys 'R' Us often register related domain names to keep others from hijacking their brand for profit, said Bob Phibbs, a brand specialist and chief executive of the Retail Doctor consulting firm. "They just went crazy," said Phibbs. "I'm sure they were laughing and drinking Red Bull and then just came up with every iteration they could." [[Reuters]( the story here: MOST POPULAR [The 'white minority' illusion]( Damon Linker [The Democrats' ominous future]( Damon Linker [Gap apologizes to China, pulls T-shirt with map that doesn't include Taiwan]( Peter Weber [Bill O'Reilly and a slew of other ex-Fox News personalities could be headed to the same network]( Catherine Garcia [The New York Daily News brutally contrasts Ivanka Trump's smiles in Jerusalem with Palestinian deaths]( Peter Weber [Is this email not displaying correctly? View it in your browser.]( [Unsubscribe from this list]( | [Update subscription preferences]( | [Privacy Policy © 2015 THE WEEK PUBLICATIONS, INC. ALL RIGHTS RESERVED. THE WEEK ® IS A REGISTERED TRADEMARK OWNED BY FELIX DENNIS.]( Get 4 Risk-Free [issues of The Week]( [TRY IT OUT]( [Subscribe]( [Subscriber login]( [Give a gift]( [Back issues]( [Classroom subscriptions]( [Newsletters]( [Privacy policy]( [Terms & conditions]( [The Week UK]( [Contact Us]( [Ad info]( [RSS]( Daily business briefing 1.[Seattle approves scaled-down 'head tax' over Amazon's objections]( The Seattle City Council on Monday [passed a scaled back version of the so-called Amazon tax]( which will impose a $275-per-employee "head tax" on companies in the city with more than $20 million in gross revenue. Seattle Mayor Jenny Durkan had threatened to veto the original $540-per-employee tax, saying it would cost too many jobs, but said she would sign the latest version. The city plans to use the tax on big businesses to build affordable housing and alleviate homelessness. The tax is expected to raise $44.7 million a year. Amazon, which has 45,000 employees in Seattle, said it was "disappointed by today's City Council decision to introduce a tax on jobs," but added that the company would resume construction of a 17-story office tower it had placed on hold. [[CNN]( the story here: 2.[China vice premier arrives in U.S. for trade talks]( A top Chinese economic official, Vice Premier Liu He, arrives in Washington on Tuesday for five days of trade talks. Liu's visit comes following a surprise announcement from President Trump via Twitter that he is working with Chinese President Xi Jinping on [helping get Chinese telecom ZTE "back in business"]( after the U.S. banned American firms from selling parts and services to ZTE for seven years as punishment for its failure to respect an agreement on avoiding trade with Iran. Observers said Liu could respond to Trump's gesture by offering easier access to Chinese markets for U.S. goods. [[South China Morning Post]( the story here: 3.[Stocks lose steam, threatening Dow's 8-day winning streak]( U.S. stocks rose slightly on Monday, giving back some of their earlier gains in a late-afternoon pullback. Shares rose early on signs of easing trade tensions between the U.S. and China. The S&P 500 and the Nasdaq composite rose by 0.1 percent, while the Dow Jones Industrial Average closed up 0.3 percent, its eighth straight day of gains. The Dow's winning streak appeared to be in doubt early Tuesday, with the index falling by 0.3 percent. Futures for the S&P 500 and the Nasdaq-100 also fell by 0.3 percent. Fresh data on retail sales and the housing market, as well as Federal Reserve speeches, could steer the market during the day. [[The Associated Press]( MarketWatch]( the story here: 4.[Supreme Court rules states can allow betting on sports]( The Supreme Court on Monday struck down a federal law prohibiting states from allowing sports betting, siding with New Jersey, where lawmakers passed legislation lifting prohibitions on some sports betting as part of a bid to revitalize Atlantic City as its casinos close. The majority opinion said sports gambling is controversial, with supporters saying it can provide states with revenue and opponents saying it gets young people hooked on betting and encourages "people of modest means to squander" their limited resources. The majority concluded that the legalization of sports gambling "requires an important policy choice, but the choice is not ours to make." Liberal Justices Ruth Bader Ginsburg and Sonia Sotomayor dissented. [[The Washington Examiner]( Supreme Court]( the story here: 5.[Toys 'R' Us sells off mascot, web addresses]( Toys 'R' Us is auctioning off its Geoffrey the Giraffe mascot and hundreds of website addresses, including sex-toys-r-us.com, that the bankrupt toy retailer bought to protect its brand. Toys 'R' Us, which is winding down its business and closing 735 U.S. stores, is also selling ihatetoysrus.com, toysrussucks.com, and kinkytoysrus.com. Major companies like Toys 'R' Us often register related domain names to keep others from hijacking their brand for profit, said Bob Phibbs, a brand specialist and chief executive of the Retail Doctor consulting firm. "They just went crazy," said Phibbs. "I'm sure they were laughing and drinking Red Bull and then just came up with every iteration they could." [[Reuters]( the story here: MOST POPULAR [The 'white minority' illusion]( Damon Linker [The Democrats' ominous future]( Damon Linker [Gap apologizes to China, pulls T-shirt with map that doesn't include Taiwan]( Peter Weber [Bill O'Reilly and a slew of other ex-Fox News personalities could be headed to the same network]( Catherine Garcia [The New York Daily News brutally contrasts Ivanka Trump's smiles in Jerusalem with Palestinian deaths]( Peter Weber [Is this email not displaying correctly? View it in your browser.Â]( [Unsubscribe from this list]( | [Update subscription preferences]( | [Privacy Policy]( © 2015 THE WEEK PUBLICATIONS, INC. ALL RIGHTS RESERVED. THE WEEK ® IS A REGISTERED TRADEMARK OWNED BY FELIX DENNIS. Get 4 Risk-Free [issues of The Week]( [TRY IT OUT](