The Trump administration and the business world

Trump's Fed pick, Jerome Powell, is likely to be tested early on interest rate policy

President Trump’s choice for the next Federal Reserve chief, Jerome H. Powell, will face an immediate test as stronger economic growth exerts greater pressure on the central bank to step up the pace of interest rate hikes.

Consumer protection chief appeals directly to Trump in bid to save class-action lawsuit rule

In a rare direct appeal to President Trump, the director of the Consumer Financial Protection Bureau wrote a letter asking the president to veto legislation that would kill a new rule that makes it easier for customers to bring class-action suits against banks.

Education Department could scale back loan help for defrauded students

The Education Department is considering only partially forgiving federal loans for students defrauded by for-profit colleges, according to department officials.

Trump OKs test program to expand domestic drone flights

Americans could see a lot more drones flying around their communities as the result of a Trump administration test program to increase government and commercial use of the unmanned aircraft.

Senate votes to kill new rule allowing class-action lawsuits against banks; Pence casts deciding vote

The Senate voted Tuesday night to kill a controversial pending rule that would have allowed Americans to file class-action suits against banks instead of being forced into private arbitration or small claims court. Vice President Mike Pence broke a tie and cast the deciding vote.

FCC ends decades-old rule designed to keep TV and radio under local control

Federal regulators have voted to eliminate a long-standing rule covering radio and television stations, in a move that could ultimately reshape America's media landscape.

Treasury report slams consumer bureau in latest salvo over arbitration rule

In a new report Monday, the Treasury Department slammed a pending rule that would ban the use of some arbitration agreements by banks and other financial firms. The report comes as some conservatives remain hopeful the Senate will move to block the rule.

Trump vows 'no change' to 401(k) rules in Republican tax bill

The outlines of the tax overhaul released by the White House and Republican leaders last month said that “[t]ax reform will aim to maintain or raise retirement plan participation of workers and the resources available for retirement.”

Trump's pick for FTC chief: a Washington insider who has represented many tech firms

President Trump intends to nominate Joseph Simons, a longtime expert in competition law, to head the Federal Trade Commission, America's top privacy and consumer protection agency, the White House said Thursday.

Mnuchin warns of 'significant' stock market drop if tax reform fails

Treasury Secretary Steven T. Mnuchin said Tuesday that failure to pass the Republican tax overhaul would trigger a “significant” drop in the stock market, which has rallied to record highs in recent months.

  • Analysis
Why tax cuts won't generate as much economic growth as Trump hopes

Despite high hopes, tax reform isn't likely to push up economic growth very much

NAFTA talks bog down over U.S. demands as latest round concludes

After wrapping up their latest and most contentious round of NAFTA negotiations Tuesday, top trade officials from the U.S., Mexico and Canada were openly critical of each other’s positions.

White House says Fed chair search down to 5 finalists, including Yellen, Cohn

A White House official says President Donald Trump has narrowed his search for the next Federal Reserve chairman to five final candidates. A decision is

Killing state and local tax deduction hits many Californians hard. Limiting it only affects top 1%

Limiting instead of scrapping the state and local tax deduction would keep the benefit for all but the top 1% of income earners, but would raise only about a quarter of the revenue for lawmakers looking to offset broader proposed tax cuts, according to a new analysis.

Effect of Trump's Obamacare subsidy cuts is blunted in California — for now

What the Trump administration's decision to stop paying health insurance subsidies means for Californians.

Trump threatens networks, saying it's 'disgusting the way the press is able to write whatever they want'

President Trump intensified his threat against the media Wednesday, suggesting government power be used to yank the licenses of broadcasting networks after NBC reported his private remarks on nuclear weapons.

Covered California slaps a surcharge on health plans as Trump remains coy on subsidies

Covered California authorized a 12.4% average surcharge on silver-tier plans, the second-least expensive option sold on the exchange. It brings the total average premium increase on those plans to nearly 25% next year.

Court limits government warrant for data about anti-Trump website

A judge in Washington D.C. limited the scope of a Justice Department warrant against L.A.-based DreamHost for information about visitors to an anti-Trump website.

Obamacare 101: How Trump might 'use the power of the pen' to overhaul healthcare

A look at how Trump's executive order on health insurance could work and what it might do

Trump touts economic development bill 'which nobody knows about'

President Trump said he has an economic development bill, “which nobody knows about,” that would provide incentives to keep companies in the U.S. and “severely” penalize them if they move offshore.

Trump administration launches attack in a culture war, rolls back Obama rules on birth control and transgender employees

Trump administration rolls back Obama rules and frees employers from paying for contraceptives.

Trump's Treasury suggests: Roll back financial rules created after financial crisis

The Treasury Department on Friday recommended rolling back key parts of Obama-era regulations on Wall Street, including a requirement that companies disclose the pay gap between CEOs and their employees. The report is the second of four ordered by President Trump to review the banking ...

SpaceX and Blue Origin could gain from Mike Pence's call for a return to the moon

Vice President Mike Pence called for the U.S. to return to the moon and use that as a steppingstone to Mars, which could be a boon for commercial space companies.

Much more than washing machines at stake in a trade case that could test Trump's agenda

With Trump in White House, companies such as Whirlpool are emboldened to dust off old rules to fight unfair trade. But Whirlpool's case could threaten plans by Samsung and LG to build plants in the United States. The case is becoming a test of Trump's trade policies.

Even red states feel left in the lurch by the Trump administration's management of healthcare

As it works to roll back the Affordable Care Act, the Trump administration is letting critical state health initiatives languish and frustrating a growing number of state leaders trying to help their residents, including several from solidly Republican states.

Turmoil in Washington adds uncertainty to health insurance enrollment

The annual ritual of selecting the right health plan for the coming year is rife with uncertainty this year.

GOP tax plan would benefit super-rich the most, slightly raise taxes on upper earners, analysis finds

The Republican tax plan would give the biggest benefit to the super-rich and slightly raise taxes on upper earners while reducing them for everyone else, according to an analysis released Wednesday by a non-partisan think tank.

Tax breaks aimed at small businesses may favor a sliver of wealthy owners

Tax experts said only a small minority of wealthy business owners stand to benefit from the proposal.

Here's why Trump's tax plan will hit Californians especially hard

Many Californians could take a big hit with the loss of the federal deduction for state and local taxes in the tax outline released Wednesday by President Trump and top Congressional Republicans.

Trump pitches tax plan as 'once-in-a-generation opportunity,' but leaves many issues unresolved

The GOP tax overhaul outline released Wednesday has a lot for businesses to like and a lot of unanswered questions for everyone else.

Ivanka Trump's business ties in China are shrouded in secrecy

It is no secret that the bulk of Ivanka Trump's merchandise comes from China. But just which Chinese companies manufacture and export her handbags, shoes and clothes is more secret than ever.

NFL pregame shows tackling players' response to Trump get a ratings boost

Interest in pregame shows following Trump's comments was particularly high on Sunday.

Trump's chance to reshape the Federal Reserve could be his biggest economic legacy

President Trump’s efforts to turbocharge the U.S. economy require help from the Federal Reserve. Now he's in a unique position to try to assure he gets that assistance.

Treasury inspector general looking into Steven Mnuchin's request for a military jet for his honeymoon

Treasury Secretary Steven T. Mnuchin requested a military plane for his European honeymoon this summer, triggering new questions about the use of government aircraft by him and his wife.

Boeing wins nearly $600-million contract for Air Force One preliminary design

Boeing Co. has won a nearly $600-million contract to start preliminary design efforts on Air Force One.

Driverless cars on public highways? Go for it, Trump administration says

Driverless-car developers should go for it! In essence, that’s the Trump administration’s new directive to automakers and technology companies.

Trump's Education Department puts in limbo 65,000 people who say for-profit colleges swindled them

Tens of thousands of former students who say they were swindled by for-profit colleges are being left in limbo as the Trump administration delays action on requests for loan forgiveness.

Feds probe Uber's tracking of Lyft drivers

The Justice Department in Manhattan is investigating whether Uber illegally used software to track drivers for Lyft, its main ride-hailing competitor.

In the face of major premium hikes, state insurance regulators urge Congress to act quickly

State insurance commissioners urged Congress to fix Obamacare markets as lawmakers began considering bipartisan amendments to the law

Federal Reserve vice chairman to resign, opening another seat for Trump to fill

Federal Reserve Vice Chairman Stanley Fischer announced Wednesday that he will step down next month, opening another seat on the central bank’s board for President Trump to fill.

Congress warns Trump against scrapping South Korea trade agreement

Congressional leaders are calling on the White House to pursue further discussions instead of pulling out of a trade pact with South Korea.

Tech leaders call on Trump administration to preserve DACA program

Tech leaders, including Tim Cook of Apple, have signed on to a letter calling on President Trump and congressional leaders to keep the DACA program.

Trump administration slashes funds to promote signing up for Obamacare

Affirming its disdain for "Obamacare," the Trump administration on Thursday announced sharp cuts in programs promoting healthcare enrollment under the Affordable Care Act for next year.

Trump administration picks former official at for-profit DeVry University to head student aid enforcement unit

The Trump administration has picked a former official at for-profit DeVry University, which paid $100 million last year to settle claims it misled students, to head a student aid enforcement unit.

Ski resorts and others worry the Trump administration may cut visa workers program

Ski resorts and hotels urge the Trump administration not to cut a visa program for temporary student workers.

  • Analysis
Trump said he would turn the GOP into the party 'of the American worker.' How's that going?

With Steve Bannon out of the White House and former investment bankers and Democrats in key positions, what happens to President Trump's populist agenda?

White House stops plan for companies to report worker pay by race and gender

The White House cancels an Obama-era rule to require firms to report employees' pay by gender and race.

Trump launches push for tax overhaul with populist speech devoid of details

In a speech heavy on populism but lacking details, President Trump on Wednesday launched a push for a trickle-down tax overhaul centered on slashing the rate paid by businesses and individuals.

FDA approves historic 'living drug' treatment to fight childhood leukemia

The Food and Drug Administration has approved the first treatment that genetically engineers patients' own blood cells to seek and destroy childhood leukemia. The move opens a new era in cancer care.

Why Trump's threat to withdraw from NAFTA is an empty one

President Trump says he will probably end up pulling out of NAFTA, but the threat is not credible.

Gary Cohn publicly criticizes Trump's Charlottesville response and reportedly came close to resigning over it

Top White House economic advisor Gary Cohn has publicly criticized President Trump's response to the violence in Charlottesville, Va., and reportedly came close to resigning over it.

Yellen defends tougher financial regulations, a move that could hurt her chance for renomination as Fed chair

Federal Reserve Chairwoman Janet L. Yellen said Friday that tough new regulations have made the financial system safer with little downside, comments that could hurt her renomination chances.

Judge approves limited search warrant for data on anti-Trump protesters

The Washington, D.C., court orders a Web host provider to release information about anti-Trump protesters.

  • Nation Now
Trump advisor Carl Icahn resigned in advance of magazine article on his potential conflicts of interest

Carl Icahn, who resigned Friday from as President Donald Trump's adviser on deregulation efforts, stepped down ahead of a lengthy article detailing his potential conflicts of interest.

Corporate America voices its strongest repudiation yet of Trump as councils disband

President Trump announced Wednesday that the White House’s economic advisory council and manufacturing council have dissolved — panels that consisted of business leaders from high-profile companies.

What the 15 top executives who quit Trump's business councils said about why they left

The executive defections accelerated after what many saw as Trump's defense of white supremacists on Tuesday. Then he shut the councils down.

Trump administration agrees to continue healthcare subsidy for now

The Trump administration will continue paying a subsidy to insurance companies that is critical for maintaining stability in healthcare marketplaces.

Justice Department wants data on anti-Trump protesters. An L.A. tech firm is resisting

DreamHost is resisting a federal demand for more than 1.3 million IP addresses to identify who visited a website set up to coordinate anti-Trump protests on Inauguration Day.

Will a trade fight with Asia sabotage the U.S. solar industry? That may be up to Trump

A trade case filed by two bankrupt solar firms could leave Trump an opening to undermine the solar industry and touch off a trade war with China. Will he take it?

If Trump pushes 'buy American' in NAFTA talks, he may get more than he bargained for

Trump's overhaul of NAFTA includes restoring "buy American" principles in government procurement.

CEOs of Intel, Merck and Under Armour quit Trump advisory panel over Charlottesville controversy

The chief executive of Merck & Co., publicly resigned from a White House manufacturing council on Monday, declaring he felt “a responsibility to take a stand against intolerance."

Trump might be right that North Korea's threat to Guam will boost tourism

President Trump promises that Guam's tourism industry will be boosted by threat from North Korea.

Trump's moves are causing health insurance premiums to jump, study says

Actions by the Trump administration are triggering double-digit premium increases on individual health insurance policies purchased by many people, according to a nonpartisan study.

What Trump effect? Airlines are adding routes to handle growing cross-border travel demand from Mexicans and Americans

U.S. and Mexican airlines are adding new routes between the two countries, despite fear that Trump would alienate Mexican travelers.

L.A. wants to know if city contractors are helping build Mexico border wall

Los Angeles lawmakers want city contractors to reveal whether they are helping to build a border wall with Mexico.

Trump company applies for casino trademark in Macau

A Trump Organization company has applied for four new trademarks in the Asian gambling hub of Macau, including one for casinos, public records show. The new

Officials say immigration agents showed up at labor dispute proceedings. California wants them out

Federal immigration officials are looking for workers who file complaints against their bosses.

  • Nation Now
Trump pushes to sharply cut the number of legal immigrants and move U.S. to a 'merit-based' immigration system

President Trump is pushing for a 'merit-based' immigration system.

Trump and GOP leaders agree to drop border-adjustment tax from reform

The Trump administration and congressional Republican leaders have ditched a controversial border-adjusted tax proposal as part of an effort to present a united front for a broad tax-overhaul.

What do booty shorts, classical music and whiskey have in common? President Trump's 'great again' slogan

Never mind healthcare. President Trump has made slogans great again.

Trump administration is sitting on tens of thousands of student debt forgiveness claims

A letter released Wednesday by Sen. Richard J. Durbin reveals that the Trump administration has done little to help defrauded student loan borrowers since taking office.

Democrats criticize financial industry backgrounds of two Trump bank regulator nominees

Senate Democrats on Thursday criticized the financial industry backgrounds of President Trump’s nominees for two key banking regulatory positions, arguing they wouldn't protect consumers.

iPhone builder Foxconn will open factory in Wisconsin

Foxconn, the Taiwanese maker of Apple Inc.’s iPhone, will build its first American factory in Wisconsin, a sprawling campus to produce liquid-crystal display panels.

Tech firms criticize Trump's call for a transgender military ban

Leaders of Apple, Google, Uber, Facebook and Twitter voiced support for transgender service members — but were careful not to mention Trump by name.

New TSA rule for screening electronics will apply at all U.S. airports

Transportation Security Administration is about to start new screening procedures for electronics in carry-on luggage at all airports nationwide.

House votes to kill new bank arbitration rule in blow to federal consumer agency

The House of Representatives voted Tuesday to block a new rule that would make it easier for consumers to bring class-action lawsuits against banks.

Trump's controversial remarks to Boy Scouts follow invitation from AT&T's Stephenson

The AT&T chief finds himself in an awkward spot as his company seeks the Trump administration's approval for Time Warner Inc. deal

Trump floats Gary Cohn for Fed chief — or maybe he'll keep Janet Yellen

President Trump said he's considering either re-nominating Janet Yellen for a second term as Fed chair or replacing her with someone else, possibly Gary Cohn, who leads his National Economic Council.

Net neutrality face-off: Lawmakers ask Google, Comcast and other execs to testify

In the net neutrality debate, top executives from AT&T, Comcast, Facebook, Google, Netflix and Verizon, among others, are being asked to Capitol Hill on Sept. 7 to argue their sides.

Trump's presidency may be hurting his L.A.-area golf course

Some parts of Trump's empire stand to benefit from his new power, but the Trump National Golf Club in Rancho Palos Verdes seems to be experiencing backlash.

Republicans introduce bills to scrap new bank arbitration rule

House and Senate Republicans introduced bills Thursday calling for the repeal of a just-announced CFPB rule that would make it easier for consumers to bring class-action lawsuits against banks.

Revised GOP healthcare bill would still leave millions without insurance, new report concludes

The Congressional Budget Office releases an update of its analysis of the new Senate Republican bill rolling back Obamacare.

U.S. ends airline laptop ban: New security measures make the electronics OK to carry on

New security measures mean flights to the U.S. can allow laptops, tablets and other large electronics in the cabins of airline flights, the The Department of Homeland Security said.

When will the other shoe drop in U.S.-China economic relations

US and China meet for high level talks on economic and trade relations

Federal officials order 15,000 new visas for low-wage workers

The Department of Homeland Security announced a one-time increase of 15,000 additional visas for low-wage, seasonal workers for the remainder of this fiscal year.

Trump appointee wants to delay rule that lets consumers bring class-action suits against banks

A new rule allowing consumers to file class-action suits against banks instead of being forced into private arbitration has become caught in a dispute between key financial regulators.

Yellen says risk of financial crisis increases if some Trump regulatory rollbacks are enacted

Federal Reserve Chairwoman Janet L. Yellen on Thursday told lawmakers the risk of another financial crisis would increase if some Trump administration proposals to roll back regulations were enacted.

Net neutrality supporters say online rally is just the start of the fight to keep tough FCC rules

Some off the Web’s biggest names – Amazon, Google, Netflix and Twitter – along with thousands of smaller websites – urged their users to tell Washington to leave the Internet the way it is.

Trump administration delays program that lets immigrant entrepreneurs into the U.S.

The United States just became a bit less friendly for foreign entrepreneurs.

Lawsuit alleges President Trump violated 1st Amendment by blocking U.S. citizens on Twitter

The Knight First Amendment Institute filed a lawsuit against the White House for blocking Twitter users

Trump to nominate investment fund manager Randal Quarles to key Federal Reserve post

President Trump made the first move Monday to put his stamp on the Federal Reserve, nominating investment-fund manager Randall Quarles to a key vacancy overseeing regulatory efforts.