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Business News Headlines

Senate Republicans weigh tax cuts, deficit expansion

U.S. Senate Republicans have reached a tentative budget deal that could allow tax reform legislation to eliminate as much as $1.5 trillion in revenues over 10 years through tax cuts, raising the odds that their planned tax overhaul would expand the federal deficit.

Wall Street edges higher; U.S. Fed meeting in focus

The three major U.S. stock indexes edged higher on Tuesday, logging closing records, with financial stocks providing the biggest boost a day ahead of the Federal Reserve's concluding statement from its two-day policy meeting.

Toys 'R' Us seeks bankruptcy to survive retail upheaval

Toys 'R' Us Inc got court permission on Tuesday to borrow more than $2 billion to start paying suppliers so it can stock up on items like Lego building blocks and Barbie dolls for the holiday season, a day after it filed for bankruptcy.