TODAY'S PAPER
39° Good Morning
39° Good Morning
Business

Briefs: Trump Entertainment going bankrupt; Amazon slashes Fire phone price; Inversion targeted

From the foreground: Trump Taj Mahal Atlantic City,

From the foreground: Trump Taj Mahal Atlantic City, the Showboat Casino Hotel and Revel Atlantic City stand in Atlantic City, New Jersey, U.S., on August 28, 2014. Credit: Bloomberg / Kevin P. Coughlin

Here's what's happening in the world of business on Sept. 8, 2014.

Big stories

- Trump Entertainment will file for bankruptcy, a move that puts the future of the Trump Taj Mahal in jeopardy. The company has already said it will close its other Atlantic City hotel, Trump Plaza. The bankruptcy could put the hotels in the hands of investor Carl Ichan, since he holds the bulk of the company's debt.

- Electrolux will buy General Electric's appliances unit for $3.3 billion. The Swedish company, ranked second in the world behind appliance leader Whirlpool, said the deal will likely close in 2015.

- Twitter is testing out a 'buy' button, a tool that will allow users of the social networking platform to purchase products mentioned in tweets.

- The U.S. Treasury said make it harder for companies to shift their headquarters to foreign countries to save on taxes, a process called inversion. About 50 companies have moved offshore in the past decade, with Burger King being the latest in its takeover of Canadian coffee shop chain Tim Hortons.

Company news

- Rental car company Hertz said its CEO and chairman Mark Frissora has stepped down, citing personal reasons. The Park Ridge, New Jersey, company has placed its equipment rental chief Brian MacDonald in charge, and will start a formal search for a new CEO.

- Walgreen has named activist investor Barry Rosenstein to its board. The founder of Jana Partners is also a stakeholder in PetSmart. Shares earlier jumped Monday on the news, but have since fallen.

- Southwest Airlines will change the look of its planes, the company said, adding patterns of red, yellow and blue to the tails of its planes to add more bright colors to its fleet.

- Budget Irish air carrier Ryanair will order 100 of Boeing's 737 MAX 200 airplanes, a fuel-efficient passenger jet that can fit up to 200.

Tech bites

- Amazon will sell its Fire phone for 99 cents if you buy it with a 2-year AT&T plan. That price only goes for the 32 gigabyte model. The 64 gigabyte phone will sell for $99 with a 2-year contract, down from $299.

- Remember MSN? The Microsoft-run portal just got a refreshed look that's responsive across mobile platforms. The site will cull various news and other media to feature on the page.

- ATM maker Global Cash will buy Multimedia Games Holdings, a maker of video slot machines, for $1.2 billion.

Across the region

- As the search for developer Larry Glazer and his wife is called off after the couple is presumed to have died in a small plane crash in the waters off  Jamaica, developers and officials are remembering the real estate mogul for his work in turning abandoned eyesores into hot properties.

- Women in New York City will be able to request a female driver next week with the launch of SheTaxis_SheRides. Drivers, who will sport hot pink pashmina scarves, will only pick up parties with women in them.

Across the nation

- For more than 1,000 people, leaving a Bud Light commercial set turned into a traffic nightmare. After setting up a makeshift town in  Colorado ski town Crested Butte to film a commercial for its "Up for Whatever" campaign, Budweiser said many of the extras simply couldn't leave after the small nearby airport became overwhelmed by the visitors.

Across the world

- Britain wants to give Scotland more financial autonomy, a last-ditch effort to stave off the country's bid for independence before next week's vote. The looming vote, and a new poll that puts the majority of Scots on the side of secession, has caused the British pound to sink in value.

It's the economy

- Pay rates and hiring might soon stall, according to a recent survey of Harvard Business School alumni. While unemployment rates have dropped since the Great Recession, incomes have largely stayed the same or dropped when adjusted for inflation.

More news