1. SENATE PLANS VOTE ON INTERNET SALES TAX
Our final days of tax-free internet spending may be upon us: The Washington Post says the Senate may vote as soon as Monday on whether to give states the authority to collect sales tax on all internet purchases. Introduced by Sen. Mike Enzi (R-Wyo.), The Marketplace Fairness Act would allow states to collect sales tax on out-of-state vendors selling goods to state residents, and could lead to $11 billion a year in added revenue for states. The outcome looks good for Enzi: The Senate already approved the bill in a symbolic vote in March, 75 to 24. [Washington Post]
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2. OBLIVION RESCUES TOM CRUISE FROM BOX OFFICE OBLIVION
Tom Cruise's new sci-fi movie Oblivion grossed an estimated $38.2 million in the U.S. and Canada in its opening weekend, proving the 50-year-old star can still draw a crowd. It's good news for Universal and hedge fund Elliot Associates LP, which co-financed the movie to the tune of $150 million. The film opened overseas — where Cruise's reputation remains relatively untarnished — two weeks ago, where it has grossed an additional $112 million. Cruise's last movies Jack Reacher and Rock of Ages opened at $15.2 million and $14.4 million, respectively. [CBS]
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3. KOCH BROTHERS EYEING MAJOR NEWSPAPERS
Koch Industries is exploring a bid for Tribune Company's eight regional newspapers, including The Los Angeles Times, The Chicago Tribune and The Baltimore Sun, reports The New York Times. Charles and David Koch have, in recent years, been two of the most influential donors in GOP politics, and if their Tribune bid succeeds, the purchase could mark a pivotal moment in the libertarian-leaning brothers' push to influence government policy. The purchase would be one of the largest sales of newspapers by circulation the country has seen. But at about $623 million, it wouldn't make a huge dent in the $115 billion Koch conglomerate. [New York Times]
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4. LG DISPLAY PROFITS DROP
As Wall Street gets skittish about the future of Apple, LG Display, the Korea-based display manufacturer, is watching profits slow. Apple is responsible for about 30 percent of LG's revenue, so when Apple's shares fall — as they did all last week — so do LG's. While the manufacturer's profits are up from a year ago, they're down 74 percent from last quarter, "hurt by a seasonal slowdown in demand and by weaker sales to Apple," reports Reuters. Apple's earnings report is expected out tomorrow. [Reuters]
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5. NYC'S MOST EXPENSIVE APARTMENT LISTED FOR $125 MILLION
New York City's new "most expensive apartment" — a three-story penthouse at The Pierre Hotel on Fifth Avenue and 61st Street — is up for sale for an eye-popping $125 million. The pad, which gives a 360-degree view over Manhattan, Central Park, and the two rivers, has 16 rooms, six bathrooms, five fireplaces, and four terraces. Once home to J. Paul Getty, the crib will turn quite a profit: The last owner, stock market analyst Martin Zweig, who died in February at age 70, bought it in 1999 for $21.5 million. Monthly maintenance costs a mere $47,000. [ABC, News.com.au]
