Hundreds of millions of dollars of Paycheck Protection Program emergency funding has been claimed by large, publicly traded companies, new research published by Morgan Stanley shows.In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, the firm said.
Business leaders and their companies have profited royally off of President Donald Trump’s pro-business policies.Secretary of Education Betsy DeVos and her family are among the groups that have seen an income boon of millions through their own investments since Trump’s tax reform plan was signed, according to her latest annual financial disclosure report.
President Donald Trump’s threatened 5% tariff on all Mexican imports could hit American farmers especially hard if Mexico retaliates with punitive duties on U.S. agricultural products. Farmers are already reeling from Trump’s drawn out trade war with China and fear further losses could be in their futures.
Transportation Secretary Elaine Chao has held onto her shares of Vulcan Materials, a construction company she promised to divest from more than a year ago, The Wall Street Journal reported Tuesday. Vulcan, the U.S.′ largest supplier of sand and gravel used in paving and building, has seen its stock price rise more than 12% since April 2018, when Chao said she would cash out her shares, according to a 2017 government ethics agreement.
Federal judges reviewing complaints lodged against Supreme Court Justice Brett Kavanaugh said Tuesday that the allegations against the former federal appeals court judge are "serious" but that they must dismiss them without determining their merits because of Kavanaugh's October confirmation by the U.S. Senate.
Jack Ma, founder and chairman of Chinese retail giant Alibaba, says the company no longer plans to create 1 million jobs in the United States in the wake of the ongoing trade conflict between the U.S. and China.
Global debt has hit another high, climbing to $247 trillion in the first quarter of 2018, according to a report published Wednesday. Of that figure, the non-financial sector accounted for $186 trillion.. “Firms have used artificially low rates to borrow in the capital markets and only buy back stock in the equity market,” LaVorgna said. “The inherent instability of debt over equity financing suggests that the next downturn could hit investment spending unusually hard.”
When I visited McConnels library at the university of Louisville while researching my 2014 biography on McConnell, I was struck by what was missing: exhibits on actual governing accomplishments from the Senate majority leader’s four decades in elected office. That absence confirmed my thesis that McConnell, far more even than other politicians, was motivated by the game of politics — winning elections and rising in the leadership ranks, achieving power for power’s sake — more than by any lasting policy goals.
Starting over Fourth of July weekend, the political network funded by billionaire industrialist Charles Koch is planning to release attack ads targeting seven senators who voted against President Donald Trump's $15.4 billion spending cuts package
Special counsel Robert Mueller said Tuesday that election meddling operations like those conducted by Russia during the 2016 presidential election are still occurring. "Uncharged individuals and entities" are still engaging in operations similar to those charged in a case involving 13 Russian nationals and three entities accused of illegally interfering in U.S. politics, Mueller said.
The purchase of three properties by President Trump's son-in-law on the banks of a toxic Brooklyn canal triggered a series of unusual real estate deals and a windfall profit from transactions financed by a bank tied to the Trump family. The property transactions totaling more than $150 million began in late 2014 and early 2015 and included sales prices well above the assessed value of the parcels, as well as high-risk loans that experts said raise red flags. At the center of each deal is either Jared Kushner or Michael Cohen, whose business dealings have attracted close scrutiny from prosecutors and regulators since Trump's election.
Last week, in a development first reported by The Washington Post, the Treasury Department quietly released data estimating its 2018 borrowing needs would check in at $955 billion, then top $1 trillion in the next two fiscal years. Those sums are considerably higher than last year's $519 billion in debt issued, and an upward revision to estimates released by the Treasury in late 2017.
President Trump is planning to include a massive cut in the top tax rate on "pass-through" companies, from its current level of 39.6 percent to a mere 15 percent, the Wall Street Journal's Michael Bender and Richard Rubin report. This will be sold as a boost for small businesses, and it is, but it is mostly a huge giveaway to the rich — including the president himself.
Amid a tug-of-war between consumers who either love or loathe the Ivanka Trump brand, the company's president said it has rung up near record sales since Nordstrom dropped the collection from its stores in February.
An Oklahoma County District Court judge on Thursday ordered President Donald Trump's nominee to lead the EPA to turn over thousands of communications to a watchdog group. The order is the latest turn in a lawsuit against Oklahoma Attorney General Scott Pruitt brought by the Center for Media and Democracy earlier this month. CMD charges Pruitt violated the Oklahoma Open Records Act for declining to make public official documents the group has requested since 2015.
Donald Trump Jr. and Eric Trump are listed as "honorary co-chairmen" for the "Opening Day 2017" event, which is seeking donations for unnamed "conservation charities," according to a draft event brochure obtained by TMZ. The brochure posted by TMZ touts several packages that range from $25,000 to $1 million. The most expensive "Bald Eagle" package lists "a private reception and photo opportunity for 16 guests" with the president-elect and a multiday hunting or fishing trip with his sons, among other perks
Trump asked a foreign policy advisor why the U.S. can't use nuclear weapons, MSNBC's Joe Scarborough says, citing an unnamed source and then asked Hayden about the process in such an event and the response is that the system is built for quick execution once decision is made.