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  • In his first detailed budget submission to Congress on Tuesday, Trump requested major reductions to programs that help poor families afford groceries and poor and disabled people get healthcare. Some Republicans in Congress cheered Trump's budget. They're really deep, deep cuts, "said Republican Representative Hal Rogers, whose eastern Kentucky district...

  • QUINCY, Mass.— Facebook CEO Mark Zuckerberg has visited the Massachusetts high school where his wife attended. The 33- year-old billionaire and his wife, Priscilla Chan, stopped by Quincy High School on Tuesday and made a donation to the school. Zuckerberg says in a Facebook post the couple had stopped by the school on their way to Cambridge, Massachusetts, where...

  • HOUSTON, May 23- Saudi Aramco plans an investment of up to $30 billion in its U.S. subsidiary Motiva Enterprsies LLC, the company said in an announcement at a business summit in Saudi Arabia. The company said that $12 billion would be the initial investment in a project to expand refining capacity at Motiva's Port Arthur, Texas, refinery, already the largest in the...

  • *Pet ownership, once denounced, taking off again in China. HONG KONG, May 24- Electronic device makers such as Hong Kong- listed SUGA and other start-ups are looking to cash-in on a boom in China in so-called pet wearables, like smart collars, leashes and feeders. Pet ownership, denounced as a decadent and bourgeois habit after the Communist Party took power in China...

  • TORONTO, May 23- Canada's biggest non-bank lender Home Capital said on Tuesday that it had drawn down an additional C $250 million from a high interest credit line to meet a repayment on its debt due on Wednesday. Home Capital said in a statement that it had now drawn down C $1.65 billion from a C $2 billion facility it agreed last month with the Healthcare of Ontario...

  • LONDON, May 24- Commodities-related revenue at the 12 biggest investment banks fell 29 percent year-on-year in the first quarter of 2017 to its lowest in more than a decade, mainly due to weakness in the energy sector, a consultancy said on Wednesday. Revenue from commodity trading, selling derivatives to investors and other activities in the sector fell to...

  • LONDON, May 24- Bond trading revenue at the world's top banks rebounded sharply in the first three months of the year as strong activity in credit and interest rate products eclipsed the lowest currency trading volume in over a decade, a survey showed on Wednesday. The period saw Donald Trump sworn in as U.S. president and an initial surge of investor optimism that...

  • *April manufacturers' sentiment index +24 vs +26 in April Service- sector index +30 in May vs 28 in April. TOKYO, May 24- Confidence among Japanese manufacturers worsened in May for the first time in nine months after hitting a decade-high level April, a Reuters survey found, showing the guarded nature of business optimism in a nascent export-led economic recovery.

  • WASHINGTON, May 23- The U.S. Federal Communications Commission said on Tuesday it will not impose any fine or take any action after receiving thousands of complaints about a May 1 broadcast of CBS Corp's "Late Show with Stephen Colbert." Talk show comedian Stephen Colbert made a joke about President Donald Trump and Russian President Vladimir Putin that was...

  • WASHINGTON, May 23- American steel executives said on Tuesday that a Trump administration national security review of their industry could provide relief from imports that dozens of U.S. Commerce Department anti-dumping cases have only partly offered. The probe could result in broader protections that solve a "whack-a-mole" problem of shutting out...

  • WASHINGTON, May 23- A Trump administration plan to sell off half the U.S. emergency crude oil stockpile to help balance the budget faces opposition in Congress, with lawmakers from both parties worried the proposal would undermine the drilling industry and make the country vulnerable to supply shocks. The White House's 2018 budget proposal, sent to Congress on...

  • The biggest savings would come from cuts to the Medicaid healthcare program for the poor, which are embedded in a Republican healthcare bill passed by the House of Representatives. Trump wants lawmakers to cut at least $610 billion from Medicaid and more than $192 billion from food stamps over a decade. The White House said its proposed tax cuts would help fuel...

  • May 23- Private equity firm Apollo Global Management is in advanced talks to acquire U.S. job-hunting website CareerBuilder LLC after negotiations with another buyout firm ended unsuccessfully, according to people familiar with the matter. CareerBuilder's owners, TV station operator Tegna Inc, broadcasting company Tribune Media Co and newspaper group...

  • NEW YORK— There will be no fine for Stephen Colbert's risque joke about President Donald Trump. A Federal Communications Commission spokesman said Tuesday that the agency received "thousands" of complaints about the late-night host's May 1 show, so it reviewed the material as "standard operating procedure." It's the FCC's job to police obscene or indecent...

  • The company announced its plans for a store in Trenton on Tuesday. Trenton officials have said they're excited about the store, believing it will help bring more foot traffic to the downtown area. Trenton is now one of only four state capitals around the country without a Starbucks.

  • Best Co affirmed its financial strength rating on American International Group Inc on Tuesday, lifting some uncertainty over the New York- based insurer's ability to meet its long-term debt obligations, which had unsettled some investors. In January, it announced a deal to pay $10.2 billion to Warren Buffett's Berkshire Hathaway Inc to take on many of its...

  • SANTA ANA, Calif.— The Latest on a jury awarding more than $256 million in a lawsuit against Nissan:. Nissan says it will appeal a jury's award of more than $256 million to a California auto dealer who claimed the company put him out of business during the recession. The Orange County panel ruled Monday in favor of Michael Kahn, who owned seven Nissan and other...

  • NEW YORK, May 23- Chris Hempstead, a well-known specialist in exchange-traded fund sales at KCG Holdings Inc, has been let go as part of a round of layoffs at the trading company, according to a person with knowledge of the matter. Virtu Financial Inc announced last month that it would buy rival KCG in a $1.4 billion deal bringing together two major U.S. electronic...

  • WASHINGTON— Trump budget director Mick Mulvaney, defending an administration that promises more economic growth than many think it can deliver, said Tuesday it's the Obama administration that went overboard in its forecasts for growth. MULVANEY, head of the Office of Management and Budget: "I went back and looked at some of the economic assumptions that the...

  • CARACAS, May 23- Venezuela has arrested the manager of the Petropiar heavy crude upgrader, owned by state oil company PDVSA and U.S. major Chevron Corp, for alleged "irregularities" in contracts awarded in the oil-rich Orinoco Belt. Francisco Velasquez was detained on May 13 and he remains behind bars in the city of Barcelona, in the eastern state of Anzoategui, the...