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Some in GOP split with White House on Russia sanctions
WASHINGTON (AP) — Almost a dozen Senate Republicans broke with the White House Tuesday on Russia, voting to move forward on a resolution that would maintain sanctions on companies linked to oligarch Oleg Deripaska.The Democratic resolution would stop the Treasury Department from lifting penalties against the Russian aluminum manufacturing giant Rusal and two other companies connected to Deripaska. Senators took two procedural votes to proceed to the resolution, with 11 Republicans voting with Democrats.
While Democrats are unlikely to get the 60 votes they will... Read More
PG&E bankruptcy could mean price hikes, unpaid fire lawsuits
SACRAMENTO, Calif. (AP) — Pacific Gas & Electric Co. said this week it will file for bankruptcy, raising concern that rates for electricity and gas will rise and victims of California wildfires who are suing the nation's largest utility won't get all the money they may be owed.Here are some key things to know about the impact of the company's financial situation:
WHAT DOES BANKRUPTCY MEAN?
PG&E says it can't afford at least $30 billion in expected costs related to California's deadly 2017 and 2018 wildfires. Filing for Chapter 11 bankruptcy will allow... Read More
United Airlines posts smaller profit but tops expectations
CHICAGO (AP) — United Airlines reported Tuesday that its fourth-quarter profit slipped 20 percent due to higher fuel and labor costs, but its profit and revenue both beat analysts' expectations.Shares of United's parent rose in after-hours trading.
United is adding seats faster than its rivals Delta and American, but it has filled most of them, and at higher prices. A key measure of pricing power, revenue for each seat flown one mile, climbed 5 percent in the three months that ended Dec. 31. Total revenue jumped 11 percent.
Chicago-based United expects... Read More
Ivanka Trump to work on World Bank president search
WASHINGTON (AP) — The White House says Ivanka Trump will take part in the nomination process for a new head of the World Bank.The senior adviser was asked to participate by Treasury Secretary Steven Mnuchin because she has worked with World Bank leaders on a variety of projects. The White House said she is not a contender for the post.
Jim Yong Kim, the current president of the World Bank, announced last week that he is resigning.
With Kim's exit, President Donald Trump will have the opportunity to nominate his own choice to fill the position. The... Read More
Trump's AG pick vows not to target marijuana businesses
WASHINGTON (AP) — President Donald Trump's pick to become the next attorney general said Tuesday that he would "not go after" marijuana companies in states where cannabis is legal, even though he personally believes the drug should be outlawed.In his testimony before the Senate Judiciary Committee, William Barr said he would not use limited government resources to target cannabis businesses that are complying with state laws. Businesses in the marijuana industry relied on Obama-era guidance that kept federal authorities from cracking down on the pot trade in states where... Read More
Top Stories in Business/Finance
- Some in GOP split with White House on Russia sanctions
- Senators ask FDA to update rules on certain pot products
- PG&E bankruptcy could mean price hikes, unpaid fire lawsuits
- United Airlines posts smaller profit but tops expectations
- No-shows for auto shows? Detroit and others aim to retool
- Ivanka Trump to work on World Bank president search
- Trump's AG pick vows not to target marijuana businesses
- The IRS is recalling 46,000 workers to handle tax returns
- Netflix raising prices for 58M US subscribers as costs rise
- Razor burn: Gillette ad stirs online uproar
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