Treasury Secretary Steven Mnuchin says he has spoken with a top Walmart executive about how it can keep prices low amid the U.S.-China spat.Marketsread more
When the Fed releases minutes of its last meeting this afternoon, it risks sounding a bit hawkish.Market Insiderread more
China is considering cutting natural gas purchases from the U.S. in its tit-for-tat on trade, according to the South China Morning Post.Marketsread more
Treasury Secretary Steven Mnuchin is scheduled to testify before the House Financial Services Committee on Wednesday about the international financial system.Politicsread more
Target's CEO thinks the retail industry is shaking out to show clear winners and losers. Those companies that are investing in stores and online are winners, he said.Retailread more
Such a move could provide a buffer against any economic weakness that the U.S.-China trade war could cause.The Fedread more
Morgan Stanley caused a stir with its "bear case" scenario of $10. Now, Citi is getting in on the act.Investingread more
A federal judge grants an injunction ordering Qualcomm to renegotiate its licensing agreements.Technologyread more
Apple's China business accounted for more than 17% of its sales in its fiscal second quarter, coming in at $10.22 billion.Marketsread more
"I've had no conversations ever with the president or anyone in the White House about delivering the president's tax returns to Congress," Mnuchin said during a hearing before...Politicsread more
If you beat the odds and nab the top Mega Millions prize, the IRS would get more than $58 million before the windfall reaches you. You also could count on owing more at tax...Personal Financeread more
The Obama administration hasn't been able to eliminate the "carried interest" tax break for hedge fund managers, but Vice President Joe Biden called it "not sustainable" and predicted the next president will succeed.
The tax break allows certain compensation for hedge fund managers, among others, to be taxed at lower capital gains rates rather than ordinary income. "There's no justification," Biden said in an interview with CNBC, and the White House has asked Congress to close the loophole.
The administration hasn't won on the issue, Biden said, because its crowded agenda has never permitted sustained focus on it.
"We haven't had the clear space to do nothing but talk about how unfair the tax system is as it relates to the tax expenditures, loopholes we want to eliminate," he said. "And consequently what happens is a lot of people can go home, if you're a Republican, and say, 'These Democrats are just going after business.' "
Indeed, when the administration first sought to close the loophole, one major Wall Street figure, Steve Schwarzman, likened its approach to business to Hitler's invasion of Poland. Schwarzman subsequently apologized.
Biden laughed off the comparison, saying, "I'd say it's like us liberating death camps."
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