News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Trump Calls for Cuts in Business, Individual Taxes

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Under President Trump's proposed tax overhaul, the corporate rate would drop to 15% from 35%, with a 35% top rate for individuals. Lower brackets would be set at 10% and 25%. The plan would end deductions for state and local taxes, and the alternative minimum tax would be repealed.

Stocks Steady on U.S. Tax Plan

Stocks were steady as the Trump administration outlined its tax plan.

Trump Administration to Launch Probe of Aluminum Imports

The Trump administration is set to launch a wide-ranging probe of aluminum imports that could end in broad tariffs or other trade restrictions on the metal, according to two people familiar with the matter.

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Regulator Outlines Net-Neutrality Rollback

A top federal regulator proposed rolling back Obama-era net neutrality rules, calling for a new rule-making proceeding to reverse the 2015 rule that reclassified internet providers as common carriers, subjecting them to utility-style FCC oversight.

Federal Reserve Restructuring Part of Large Bank Supervision Program

The Federal Reserve is restructuring a panel it set up in 2010 to improve its supervision of the largest and most complex banks, according to people familiar with the initiative, in its latest effort to implement lessons learned from the financial crisis.

Oil Prices Recover After Stockpiles Data

U.S. oil futures rose after U.S. data showed refiners gobbled up more crude oil than ever from storage tanks, drawing down stockpiles.

State Banking Regulators Sue Federal Agency to Stop Charters for Fintech Firms

State banking regulators sued a federal agency in an effort to prevent it from issuing specialty national banking licenses to financial-technology firms, a growing area of competition for traditional banking.

Report Warns of 'Problematic Conditions' in Canada's Property Market

Evidence continues to point to "problematic conditions" in Canada's real-estate market, with house-price gains in Toronto and the surrounding regions rising at a pace that can't be justified by economic fundamentals, the country's housing agency said Wednesday.

Canada Retail Sales Drop 0.6% in February

Canadian retail sales fell sharply in February on lower auto sales, representing the latest economic indicator to signal growth is slipping somewhat after a strong run.

Nafta Report Sends Peso Reeling

The Mexican peso is heading for its biggest drop in five months amid reports that the White House is drafting an order to pull out of the North American Free Trade Agreement.

(END) Dow Jones Newswires

April 26, 2017 17:15 ET (21:15 GMT)