Tag Archives: Treasury

The Treasury Department is staffing up — finally

Why tax reform is so hard Steven Mnuchin is no longer a lone wolf at the Treasury Department. Senate lawmakers on Thursday finally approved five of President Trump’s nominees for key positions at the agency, overseeing tax policy, regulations and international finance. Lawmakers confirmed David Malpass, a former Bear Stearns chief economist, to serve as the agency’s top financial diplomat; veteran lawyer David Kautter to act as the department’s point-person on tax policy; and Christopher Campbell, a longtime former Republican Senate Finance Committee staffer, to oversee financial institutions. Related: Trump ...

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Treasury secretary's fiancée to resign from Hollywood CEO job after senator's criticism

Steve Mnuchin in 90 seconds Treasury Secretary Steven Mnuchin’s fiancée will sever ties to the Hollywood business Mnuchin once headed. Louise Linton plans to step down from her position as interim CEO of Dune Entertainment, a film financing firm, according to a letter from Treasury reviewed by CNNMoney. Linton took over the top spot at Dune Entertainment earlier this year, as Mnuchin headed for Washington. News that Linton plans to resign comes two weeks after Senate Finance Committee member Ron Wyden, a Democrat, sent a letter to a Treasury ethics ...

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Trump's pick for No. 2 spot at Treasury drops out

Why Trump’s tax plan could raise taxes for 8.7 million households President Trump’s nominee to serve as deputy treasury secretary has dropped his bid for the job. Jim Donovan, a long-time Goldman Sachs executive, was nominated in March to be the right-hand man to Treasury Secretary Steven Mnuchin. He told the White House he wanted to withdraw his name from consideration for personal reasons. “[A]t this time I want to focus on my family, and I can no longer accept it,” Donovan said in a statement Friday. “I hope to ...

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U.S. Treasury slaps sanctions on 8 Venezuela court justices

Venezuela on brink of collapse The Treasury Department on Thursday froze U.S. assets of eight members of Venezuela’s Supreme Court of Justice and barred American citizens from engaging in any financial transactions with them. The agency said the justices were responsible for a number of rulings in the past year that have usurped the authority of Venezuela’s democratically-elected legislature, the National Assembly. “The Venezuelan people are suffering from a collapsing economy brought about by their government’s mismanagement and corruption,” Treasury Secretary Steven Mnuchin said. “Members of the country’s Supreme Court ...

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Dodd-Frank in Trump's sights ahead of Friday Treasury meeting

Robert Rubin: Much of Dodd-Frank was ‘necessary’ President Donald Trump is planning to take the next step Friday in his steady attack over the 2010 Dodd-Frank financial reform law. The president will direct Treasury Secretary Steven Mnuchin to review regulators’ authority to unwind a bank on the brink of failure and to label nonbank firms — insurance companies, private equity firms and hedge-funds — as risky institutions, according to a preview of the president’s schedule from the White House. He will also sign an executive order at the Treasury Department ...

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Treasury Secretary Mnuchin: Major tax reform plan coming 'very soon'

Treasury Secretary Mnuchin: Tax reform coming ‘very soon’ Treasury Secretary Steven Mnuchin said Thursday the Trumpadministration plans to release a “major tax reform” plan “very soon,” regardless of the outcome of a healthcare overhaul bill. “We hope that this won’t take until the end of the year,” said Mnuchin, speaking at a policy summit in Washington hosted by the Institute of International Finance. The administration has repeatedly stressed that tax reform is a top priority this year. The fresh guidance comes on the heels of a recent interview with the ...

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Former UK Treasury chief takes job editing a free newspaper

He used to run the world’s fifth largest economy. Now he’ll edit London’s free evening newspaper. Former U.K. Treasury chief George Osborne is the new editor of the Evening Standard, owner Evgeny Lebedev announced Friday. The Standard is free tabloid with a circulation of 900,000. “I am proud to have an editor of such substance, who reinforces The Standard’s standing and influence in London and and whose political viewpoint — socially liberal and economically pragmatic — closely matches that of many of our readers,” Lebedev said in a Tweet. Osborne, ...

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Trump Treasury pick Mnuchin faces committee vote

Senate grills Treasury pick on foreclosure record Steven Mnuchin could clear a major hurdle Monday toward being confirmed as Treasury secretary. The Senate Finance Committee is expected to vote at 6 p.m. ET on whether to send Mnuchin’s nomination to the full Senate. Mnuchin, a former Goldman Sachs banker and Hollywood movie producer, was one of the last of President Trump’s Cabinet picks to face Congress this month. Related: Trump Treasury pick: ‘I have been maligned’ At his confirmation hearing Jan. 19, Mnuchin defended his record as a banker. Committee ...

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Treasury takes back £384m school funding

The Treasury has taken back £384m originally promised for schools in England – at a time when head teachers are protesting about a cash crisis. The money had been announced last year to fund a plan to require all schools to become academies. But the Department for Education has revealed that when the compulsory academy plan was ditched, the Treasury took back most of this extra funding. Heads said this was “outrageous” when schools could not “make ends meet”. But the Department for Education said the return of funds was ...

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Trump's treasury pick: 'No across-the-board border tax'

Senate grills Treasury pick on foreclosure record Donald Trump’s choice for treasury secretary, Steven Mnuchin, said Thursday that the incoming Trump administration doesn’t plan to quickly impose an across the board 35% tax on items manufactured in other countries. Trump has pledged repeatedly to levy a border tax on items such as cars that are manufactured in Mexico and sold in the U.S., in an effort to keep jobs from leaving the country. Let’s block ads! (Why?) Latest financial news – CNNMoney.com

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