Global banks handled laundered Russian cash worth hundreds of millions

Global banks handled laundered Russian cash worth hundreds of millions

How to create an offshore shell company Some of the world’s biggest banks processed hundreds of millions of dollars reportedly from a vast Russian money-laundering scheme, data from leaked documents show. The data show that major U.S. banks including Bank of America (BAC), JP Morgan (JPM), Wells Fargo (WFC) and Citi (C) all processed money → Read More

Whale of a deal: SeaWorld owner sells stake

Whale of a deal: SeaWorld owner sells stake

Should there still be a SeaWorld? SeaWorld stock is surging after one of its owners agreed to sell its stake to a Chinese company. Blackstone (BX), the private investment firm, is selling its 21% stake in the amusement park chain to Zhonghong Group for $23 a share. Read More

Steven Mnuchin calls out debt limit as a 'ridiculous concept'

Steven Mnuchin calls out debt limit as a 'ridiculous concept'

Breaking down Trump’s budget proposal Treasury Secretary Steven Mnuchin on Friday suggested the idea of a U.S. debt limit is misleading. “We’ve spent the money. So the concept of the debt limit is somewhat of a ridiculous concept. … This is a payment limitation,” Mnuchin said in an interview with Axios cofounder Mike Allen. Read More

Mnuchin: Trump has 'perfect genes,' has given up KFC

Mnuchin: Trump has 'perfect genes,' has given up KFC

Steve Mnuchin in 90 seconds President Trump has perfect genes. That’s according to Treasury Secretary Steven Mnuchin, who sat for a wide-ranging interview with news site Axios on Friday in Washington. When he wasn’t discussing economic growth and tax reform, Mnuchin riffed on the president’s “incredible” stamina and his improved White House diet. Here are → Read More

Keystone XL pipeline would only create 35 permanent jobs

Keystone XL pipeline would only create 35 permanent jobs

Trump signs oil pipeline executive actions President Trump hailed the State Department’s approval of the controversial Keystone XL pipeline as a big win for American workers. “It’s a great day for American jobs,” Trump said from the Oval Office on Friday after the State Department issued a permit allowing the pipeline proposed by TransCanada to → Read More

Steven Mnuchin: Trump's new tax reform plan coming 'very soon'

Steven Mnuchin: Trump's new tax reform plan coming 'very soon'

Breaking down Trump’s budget proposal Treasury Secretary Steven Mnuchin remains confident that tax reform will happen this year, if not by August as he originally predicted, then definitely by the fall, he said Friday. “We’ll come out with a plan very soon,” Mnuchin said in an interview with Axios cofounder Mike Allen. Read More

Enough about Trump! Market tired of politics

Enough about Trump! Market tired of politics

Happy birthday, bull run! Wall Street has had it with the obsession over Donald Trump and everything going on in Washington. Yes, what happens in the nation’s capital will affect the broader economy — to a certain extent. Read More

Mnuchin talks tech: 'I don't understand these valuations'

Mnuchin talks tech: 'I don't understand these valuations'

Steve Mnuchin in 90 seconds Tech stocks are booming. But Treasury Secretary Steven Mnuchin thinks they might be too expensive. “I don’t understand these valuations,” he said Friday in an interview with the news site Axios in Washington. Apple (AAPL, Tech30) and Facebook (FB, Tech30) stock are each up more than 20% this year. Amazon → Read More

What's inside the Republican health care bill?

What's inside the Republican health care bill?

GOP’s Obamacare replacement bill: Winners and losers House GOP lawmakers are preparing to try to fulfill their promise to repeal Obamacare … or major portions of it. The House is set to vote on the legislation, called the American Health Care Act, on Friday. Republican leaders have already made several changes to placate both conservatives → Read More

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