Business highlights: downtown business, tax proposal

Proposal would ban mink farming to stem coronavirus mutation

___ Democrats seek corporate, wealthy tax hikes for $3.5T plan

Adapt or else: Downtown businesses cope with new reality NEW YORK (AP) — As the resilient coronavirus keeps offices closed and workers at home, some are adapting while others are trying to hang on. Many business owners had looked forward to a return toward normalcy this month as offices reopened. But now that many companies have postponed plans to bring workers back, due to surging COVID-19 cases, downtown businesses are reckoning with the fact that adjustments made on the fly may become permanent. To survive, owners have taken such steps as boosting online sales or starting curbside pickup and delivery services. Or they’ve changed their hours, staffing levels and what they offer customers. Others are relying more on residential traffic. WASHINGTON (AP) — House Democrats have unveiled a sweeping proposal for tax hikes on big corporations and the wealthy to fund President Joe Biden’s $3.5 trillion rebuilding plan. Congress is speeding ahead to shape the far-reaching package that touches almost all aspects of domestic life. The proposed top tax rate would revert to 39.6% on individuals earning more than $400,000, or $450,000 for couples. There would be a 3% tax on wealthier Americans making beyond $5 million a year. For big businesses, the proposal would lift the 21% corporate tax rate to 26.5%. The tax hikes are in line with Biden’s own proposals.

___ Apple patches exploit attributed to hacker-for-hire firm

BOSTON (AP) — Apple released an emergency security software patch to fix a vulnerability that an internet watchdog group says allowed spyware from the world’s most infamous hacker-for-hire firm, NSO Group, to infect the iPhone of a Saudi activist without any user interaction. The researchers from the University of Toronto’s Citizen Lab said it was the first time a so-called “zero-click” exploit had been caught and analyzed. They said they found the malicious code on Sept. 7 and had high confidence NSO Group was behind the attack. NSO Group did not immediately respond to an email seeking comment. ___ US stocks edge higher, regrouping after a down week

NEW YORK (AP) — Stocks managed to end a wobbly day mostly higher on Wall Street Monday as the market regroups after its biggest weekly drop since June. The S&P 500 shook off an afternoon slump and edged up 0.2%, the Dow Jones Industrial Average added 0.8% and the Nasdaq slipped 0.1%. Financial and energy stocks climbed, helping to make up for losses in health care. Energy companies benefited from higher prices for oil and natural gas. Benchmark crude oil rose 1% to close above $70 a barrel for the first time time since early August. The yield on the 10-year Treasury fell to 1.32%. ___ US budget deficit rises to $2.71 trillion through August

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