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  • Treasury pick emerges smiling from testy hearing

    January 20, 2017 2:38 AM 17

    Treasury nominee Steven T. Mnuchin spent 17 years working at Goldman Sachs, part of what President-elect Donald Trump once called the “global power structure” that has “robbed” American workers. Mnuchin’s financial disclosures revealed ties to business entities in tax havens such as the Cayman Islands and Anguilla. Mnuchin managed a California bank accused

  • Issues of Riches Trip Up Steven Mnuchin and Other Nominees

    January 20, 2017 2:04 AM 14

    But in a Washington where the tone is set by an incoming president who has refused to disclose his tax returns, it is not clear that any ethics question could actually derail a nominee, even ones that have caused problems in the past. During his prickly hearing, Mr. Mnuchin downplayed his omissions as innocent errors that were the products of cumbersome

  • Yellen Says Fed Not Behind the Curve, Backs Gradual Rate Rises

    January 20, 2017 1:15 AM 13

    Federal Reserve Chair Janet Yellen backed a strategy for gradually raising interest rates, arguing that the central bank wasn’t behind the curve in containing inflation pressures but nevertheless can’t afford to allow the economy to run too hot. “I consider it prudent to adjust the stance of monetary policy gradually over time,” she said Thursday in the text of remarks

  • IBM Revenue Declines Again Amid Transformation

    January 20, 2017 12:15 AM 8

    Company’s faster-growing businesses haven’t outpaced a decline in legacy ones International Business Machines Corp. recorded its 19th consecutive quarter of declining revenue, as it continued to try to offset declines in older businesses with sales in newer ones that are growing rapidly. Fourth-quarter revenue at the Armonk, N.Y., computing giant slid 1% from the year-earlier

  • Treasury nominee says U.S. won't default on its debt

    January 19, 2017 11:08 PM 11

    WASHINGTON -- President-elect Donald Trump’s choice to run the Treasury Department is promising that the United States won’t default on its debt, and he wants to raise the country’s borrowing limit “sooner rather than later.” The debt ceiling is only suspended through mid-March, and the so-called extraordinary measures will likely push back the deadline

  • The Trump Factor in Companies’ Jobs Pledges: Analyzing the Numbers

    January 19, 2017 10:13 PM 15

    In most cases, recent announcements reflect expansion and spending plans that had already been under way before Election Day A dozen major companies have touted the creation of about 130,000 U.S. jobs since Donald Trump was elected president, vowing to keep jobs in America. How many of those come from Mr. Trump’s pressure and how many were already planned

  • Uber to pay $20 million to settle U.S. claims it misled drivers

    January 19, 2017 9:52 PM 15

    WASHINGTON Ride-hailing company Uber Technologies Inc has agreed to pay $20 million to settle claims by the U.S. government that it exaggerated prospective earnings in seeking to recruit drivers, documents filed with a federal court on Thursday showed. The company had posted on its website that some Uber drivers made more than $90,000 in New York and $74,000 in San Francisco

  • JHSF chairman agrees to collaborate with Brazil officials in probe

    January 19, 2017 9:29 PM 14

    SAO PAULO The chairman of Brazilian builder and shopping mall operator JHSF Participações SA has agreed to collaborate with government officials as part of an investigation into illegal campaign donations in the state of Minas Gerais, the company said. According to a securities filing by the company on Thursday, Chairman José Auriemo Neto was fully responsible

  • Mnuchin emerges from confirmation hearing intact

    January 19, 2017 9:20 PM 13

    In a wide-ranging hearing that exceeded five and a half hours, Mnuchin was pressed by Democrats for details on everything from his thoughts on tax reform to how he defended foreclosures carried out under his watch as the top executive of OneWest Bank. But like many of Trump’s picks, at the end of the day it appeared that Mnuchin could still rely on enough

  • Latin chicken restaurant chain to expand in Houston

    January 19, 2017 8:04 PM 16

    Three new Pollo Campero restaurants are opening in the Houston area as part of what the Latin chicken restaurant chain is calling an "aggressive expansion" into the region. The Pollo Campero at 11570 Gulf Freeway opened this week, according to a company statement. Restaurants at 7754 W. Bellfort Ave. and 6905 Texas 6 South are scheduled to open in coming