U.S Taxes, Boom Technology and BMW updates | Calamatta Cuschieri

U.S Tax Bill

The Dow stormed out of the gate, soaring 300 points in celebration of the Senate passing a bill that would cut corporate taxes. It also closed at another record high with its 81st one since last year.

Both the House and Senate bills call for slashing the corporate tax rate to 20% from 35%. They would also offer a tax break for companies to bring foreign profits back to the United States. Republican leaders promise the tax plan will create a huge economic growth.

The Financial stocks were biggest winners with a 10-year high, up 1.6%.

Building a supersonic jet

Boom Technology Inc., seeking to build a supersonic jet for passenger travel, got a $10 million investment from Japan Airlines Co. as the Denver-based startup aims to revive ultra-fast travel that ended more than a decade back with the Concorde.

Boom’s idea is to build a 45-to-55 seat aircraft that will give chance to passengers to fly between New York and London in about three hours. Japan Air, will provide its knowledge and experience as an airline to support Boom in developing the aircraft, the company stated.

Japan Air also agreed to take an option to purchase up to 20 aircrafts.

Boom in November hired Bill James, a former Airbus SE executive who led wing-design on the A380 superjumbo. The company was in the process of selecting a site for a production facility, and was in talks with about 20 airlines to sell the plane. Boom’s demonstration aircraft passed a preliminary design review in May and with a first flights scheduled for late next year.

A new ambitious goal for BMW AG

BMW AG is targeting an ambitious hike in plug-in hybrid and battery car sales next year to defend its position in the electric-car shift as competitors like Volkswagen AG. The planned increase to about 150,000 cars sold would represent a 50 percent rise from this year, and a jump of about two-thirds from last year’s deliveries of green cars. BMW is spending record amounts developing a more attractive suite of electric cars to start sluggish consumer sales. BMW’s electric push coincides with the biggest transformation for the industry in decades, drawing in a great number of new competitors like Tesla Inc. and Uber Technologies Inc. 

Disclaimer:

This article was issued by Linda De Luca, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.