Business

Politico reports: Bernie Sanders has a new plan to reduce the widening gap between the rich and poor. The presidential candidate and decades-long crusader against income inequality unveiled a proposal Monday to raise taxes on businesses whose CEOs make at least 50 times more than their median workers. The boost in corporate taxes would be imposed on companies that bring …

Axios reports: Do a quick search for health insurance, and you’ll find plenty of ads for “Trumpcare” plans that cost $59 or less per month. But there’s a catch: Trumpcare doesn’t exist, and many of these advertised plans offer bare-bones coverage. Why it matters: For people who buy health insurance on their own instead of receiving it through an employer, …

The New York Daily News reports: McDonald’s is going above and beyond with its new burger. The fast-food giant has partnered with Beyond Meat to create a sandwich dubbed the PLT, made with plant-based “beef,” lettuce and tomato (ignoring the fact that lettuce and tomato are also plants). The new menu item will be tested at 28 locations in Ontario, …

CNBC reports: The U.S. Federal Trade Commission on Wednesday sued Match Group, the online dating service company that owns Tinder, OKCupid and other dating sites, alleging that it used fake love interest advertisements to trick consumers into buying paid subscriptions. Shares of Match Group dropped as much as 7% on the news, before recovering to be down around 3%. Match …

CNBC reports: Kevin Burns has resigned as Juul’s CEO and will be replaced by former Altria executive K.C. Crosthwaite, the e-cigarette company announced Wednesday. Altria invested $12.8 billion for a 35% stake in Juul late last year, placing a huge bet on the embattled vaping company. Tobacco giant Altria’s shares are down nearly 18% this year. The company on Wednesday …

The New York Times reports: Walmart said on Friday that it would end sales of e-cigarettes at its United States locations. The decision comes amid growing medical concerns about the effects of vaping. In recent months, mysterious vaping-related illnesses have been on the rise. Medical authorities said on Thursday that the number of vaping-related lung illnesses had risen to 530 …

ABC News reports: General Motors is no longer paying the health care costs for the tens of thousands of auto workers who went on strike on Monday, shifting the costs instead to a union fund. More than 49,000 union workers walked off their jobs on Sunday night, starting a nationwide strike at General Motors. As negotiations enter their third day …

CNN reports: The United Auto Workers union went out on strike against General Motors Sunday night, the first work stoppage in the US auto industry in 12 years. The union’s 48,000 hourly workers walked out at 31 GM factories and 21 other facilities, spread across nine states, mostly in the center of the country. It’s the largest strike by any …

The New York Times reports: Purdue Pharma, maker of OxyContin, the drug widely seen as igniting the opioid crisis, filed for Chapter 11 bankruptcy on Sunday night, a move at the center of the company’s efforts to shield itself and its owners from more than 2,600 federal and state lawsuits. The terms of the filing, which include a proposed resolution …

CNBC reports: The United Auto Workers union plans to strike against General Motors following the two sides not reaching a tentative deal before a Saturday night deadline. The strike, depending on its length, could easily cost GM hundreds of millions of dollars. The last time the union declared a strike at GM was in 2007. The two-day work stoppage was …

CNN reports: NASCAR rejected advertisements for its souvenir programs from multiple firearms companies earlier this summer as part of what is being seen as a “gradual shift” in its position on guns. The move may be another example of how major companies are adjusting as the nation grapples with guns in America. NASCAR’S apparent shift stunned gun enthusiasts who said …

The Associated Press reports: The family that owns OxyContin maker Purdue Pharma used Swiss and other hidden accounts to transfer $1 billion to themselves, New York state’s attorney general contends in court papers filed Friday. New York — asking a judge to enforce subpoenas of companies, banks and advisers to Purdue and its owners, the Sackler family — said it …

Variety reports: MoviePass, the long-struggling theater subscription service, finally appears to be down for the count. On Friday, MoviePass notified all of its remaining subscribers that it would be shutting down the service effective Sept. 14, 2019, because “its efforts to recapitalize MoviePass have not been successful to date,” parent company Helios and Matheson Analytics announced. “The company is continuing …

Recode reports: Federal investigators are probing the conduct and practices of Mithril Capital, a venture capital firm co-founded by Peter Thiel, Recode has learned. US officials — including the FBI — have in recent months questioned some people close to Mithril regarding concerns of possible financial misconduct at the firm, according to people familiar with the matter who insisted on …

The Associated Press reports: Attorneys for some 2,000 local governments say they have agreed to a tentative settlement with OxyContin maker Purdue Pharma over the toll of the nation’s opioid crisis. Attorney Paul Farrell said in a text message Wednesday that they have agreed to a deal that has been on the table for several weeks. Sources with direct knowledge …

The Tampa Bay Times reports: Publix is joining the growing list of stores requesting that customers not openly carry guns in states where it is legal to do so. “Publix respectfully requests that only law enforcement officials openly carry firearms in our stores,” Publix said in a statement to ABC affiliate WPLG . Although Florida is not an open-carry state, …

CNBC reports: Fifty attorneys general are joining an investigation into Google over possible antitrust violations, Texas Attorney General Ken Paxton, the initiative’s leader, announced Monday. The news confirms reports last week about the bipartisan investigation into Google’s practices. The bipartisan probe includes attorneys general from 48 states, the District of Columbia and Puerto Rico. California and Alabama are not involved …

CNBC reports: Donald Trump is tweeting more and it’s affecting the bond market. In fact, the president’s market-moving tweets ballooned in August as he hammered China on trade and went after the Federal Reserve on interest rates. In an attempt to quantify the impact of Trump’s tweets on the bond market, J.P. Morgan devised a “Volfefe Index” to analyze how …

Axios reports: Imports of American products to China dropped to $10.3 billion in August, down 22% from the same month last year. Chinese exports to the U.S. also plummeted to $44.4 billion in August, down 16%. China’s trade surplus with the U.S. shrunk to $31.3 billion in August, down $27 billion from a year prior. Both sides of the escalating …

CNBC reports: New York State Attorney General Letitia James announced Friday she is launching a multi-state investigation into Facebook for possible antitrust violations. Facebook shares were down about 0.5% in Friday’s premarket, but did not seem to react to James’ announcement. Attorneys general of Colorado, Florida, Iowa, Nebraska, North Carolina, Ohio, Tennessee and the District of Columbia will join the …