Tag: Corporate news

House Oversight Committee: Flynn ‘Inappropriately’ Took Foreign Money

The White House on Tuesday denied the House Oversight Committee’s request for documents relating to former national security adviser Michael Flynn, who was fired in February for lying to the vice president. Additionally, the committee’s leaders said Flynn “inappropriately” accepted money from foreign governments. In a letter to the committee’s chairman, Jason Chaffetz, White House…

Trump To Propose Cutting Corporate Tax Rate To 15 Percent

On Wednesday, President Trump will announce his plan to overhaul the tax code, including his proposal to cut the corporate tax rate from 35 percent to 15 percent, White House officials told The Washington Post on Monday. Independent analysts have estimated a cut this severe could cost the federal government $2.4 trillion over 10 years,…

South Korean Prosecutors Indict Ex-President Park On Corruption Charges

On Monday, prosecutors in South Korea announced that they have indicted former President Park Geun-hye on corruption and abuse of power charges that could send her to jail for life. Park, 65, was impeached in December, formally removed from office March 10, and arrested March 30 amid a national scandal that has also swept up…

Judge Approves $25-Million Agreement To Settle Trump University Lawsuit

A judge on Friday approved an agreement reached with President Trump to pay $25 million to settle three lawsuits filed against him over Trump University real estate seminars, US District Judge Gonzalo Curiel in San Diego had been expected to sign off on the agreement, which was reached last year, ending nearly seven years of…

13 Die In Texas Church Bus Crash [VIDEO]

The death toll in a Texas bus crash rose to 13 late Wednesday after one of the injured passengers died at a hospital. The midday crash occurred when a bus carrying a church choir group from the city of New Braunfels collided head-on with a pickup truck outside Garner State Park, some 90 miles west…

Manafort’s Cyprus Linked Accounts Raised Red Flags

Financial accounts in Cyprus linked to Paul Manafort, President Trump’s former campaign chairman, were probed for possible money-laundering, NBC News reported. The Mediterranean island nation has been a well-known hub for transferring money in and out of Russia. Manafort’s past is under intense scrutiny, in part, over his ties to a Russian oligarch who has…

Nunes Calls Off All House Intel Meetings This Week

During escalating tensions for House Intelligence Committee Chairman Devin Nunes (R-CA) to recuse himself from investigations of Trump team contacts with Russian officials on Tuesday morning, Nunes reportedly canceled all upcoming full committee meetings. Multiple outlets reported the move, based on sources, the morning of a public hearing set for Tuesday, which Nunes had previously…

Trump Issues Permit For Keystone XL Pipeline

The Trump administration on Friday issued a permit for the controversial Keystone XL pipeline to be built, effectively reversing the previous White House’s decision to reject the plans two years ago. According to the Associated Press, the U.S. State Department, in reviewing the project plans, decided the pipeline would be in “the national interest,” despite…

Ivanka Trump to Move Into White House Office

Ivanka Trump will begin working from a White House office, despite previously stating that she would not take a formal role in her father’s administration, Politico reports. Trump’s new West Wing office will be located on the second floor, next to that of senior adviser Dina Powell. Trump’s new unofficial position will come with a…

White House Statement Plagiarizes ExxonMobil

A White House press release on a new ExxonMobil expansion appears to have lifted an entire paragraph from ExxonMobil’s press release on the expansion, The Washington Post reports. The two passages are identical, with the exception of the words “United States,” which appear in full in the White House statement and abbreviated in ExxonMobil’s release.…

Trump Picks Alexander Acosta for Labor Secretary

President Donald Trump on Thursday announced attorney Alexander Acosta as his next labor secretary pick, just one day after fast-food executive Andrew Puzder withdrew his bid over controversies seen as likely to upend his confirmation. Acosta, who is Latino, is an attorney who has served in the Justice Department’s civil rights division, and is the…

Senate Confirms Tom Price As HHS Secretary

On Monday the Senate voted 52 to 47 to confirm Rep. Tom Price (R-Ga.) to lead the Health and Human Services Department. The party-line vote was the fourth contested Cabinet vote in a row. Democrats argued before the vote that Price, a seven-term congressman and former orthopedic surgeon, had failed to come clean about some…

Report: DOW Hits 20,000 For The First Time Ever

U.S. equities rose on Wednesday after a series of executive orders from President Donald Trump increased bullish sentiment on Wall Street. “Traders have been waiting for more details on infrastructure spending and now they have it in a very clear format,” said Naeem Aslam, chief market analyst at Think Markets. “There is nothing bigger than…

American Automakers To Meet With Trump Tuesday

President Donald Trump meets Tuesday with the CEOs of General Motors, Ford, and Chrysler in the Oval Office. “I want new plants to be built here for cars sold here!” Trump tweeted Tuesday. Trump made a point on the campaign trail of slamming American automakers for importing cars from Mexico and vowed a border tax…

Rex Tillerson Trump’s Secretary Of State Faces Senate Grilling

The second day of Senate confirmation hearings started Wednesday morning with President-elect Donald Trump’s nominee for secretary of state, former ExxonMobil executive Rex Tillerson facing heavy questioning, especially due to his ties to Russian President Vladimir Putin. Tillerson has downplayed his relationship with Russia, though, and his prepared remarks claim “Russia today poses a danger,…

Yahoo To Be Renamed Altaba, CEO Mayer To Resign [VIDEO]

Yahoo CEO Marissa Mayer will leave the company’s board after the proposed sale of the internet pioneer’s core web properties to Verizon, according to a filing Monday. Five other directors also will go. The move was not a surprise, as the new company will essentially be an investment company holding the remaining Yahoo assets, which…

Obama, Pence Visit Capitol Hill For Obamacare Fight

President Barack Obama arrived to the Capitol to give congressional Democrats advice on how to combat the Republican drive to dismantle his health care overhaul. Vice President-elect Mike Pence is meeting with GOP lawmakers to discuss the best way to send Obama’s cherished law to its graveyard and replace it with — well, something. The…

Federal Government Blocks Dakota Access Oil Pipeline Route

The U.S. Army Corps of Engineers said Sunday that it would not approve permits to build the Dakota Access oil pipeline under Lake Oahe, a reservoir on the Missouri River near the Standing Rock Sioux reservation. The decision halted construction, a major victory for members of the tribe and other activists who have been protesting…

Pharma CEO Martin Shkreli Arrested [VIDEO]

The pharma CEO reviled for raising the price of life-saving drugs for personal gain has been arrested for securities fraud. Martin Shkreli, 32, is accused of taking stocks from Retrophin Inc. to pay off unrelated debts. He started the biotech firm in 2011. Prosecutors say he made secret payoffs and set up fake deals.

Obama Signs Order To Begin $85B In Sequester Spending

President Obama on Friday signed an order that starts putting into effect across-the-board budget cuts known as the “sequester” after he and congressional leaders failed to find an alternative budget plan. The President, after an Oval Office meeting with the lawmakers, called the cuts “just dumb.” He said they would slow the economic recovery and…