The U.S. House of Representatives voted to cut the Internal Revenue Service’s budget by $1.14 billion in another blow to the tax agency.
Read More »Citigroup to pay $7B to settle mortgage-bond probe
Citigroup Inc. agreed to pay $7 billion in fines and consumer relief to resolve government claims that it misled investors about the quality of mortgage-backed bonds sold before the 2008 financial crisis.
Read More »Curb on contracts of companies exiting U.S. wins in House
The House of Representatives voted to prevent companies that move their tax addresses from the U.S. to Bermuda or the Cayman Islands from winning some federal contracts.
Read More »‘Spinversions’ make giants candidates to escape U.S. tax
American conglomerates that want a piece of the tax-inversion deal bonanza may start turning to a new tactic. Call it the “spinversion.”
Read More »Justice Department passes on spying spat between Senate and CIA
The U.S. Justice Department has declined to pursue a criminal investigation in a dispute between a Senate committee and the CIA over accusations of spying and the purloining of classified documents.
Read More »Senator’s Obamacare Congress subsidy lawsuit fought by U.S.
U.S. Sen. Ron Johnson’s lawsuit challenging an Obamacare provision subsidizing health insurance for members of Congress and their aides should be thrown out because the lawmaker can’t show the measure has hurt him or his staff, government lawyers told a federal judge.
Read More »Tsarnaev classmate hid evidence to shield him, jury told
A college classmate of Dzhokhar Tsarnaev conspired with other young men to protect their friend, “who they knew was being investigated for the Boston Marathon bombings,” a prosecutor told federal court jurors.
Read More »Commentary: Export-Import Bank earns its keep and pays back U.S.
The Ex-Im Bank certainly creates losers, certainly helps politically connected large corporations, and is certainly a corporatist institution. That does not mean it should die.
Read More »JPMorgan CEO Dimon to undergo treatment for throat cancer
Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., told employees and shareholders in a memo that he’s beginning treatment for throat cancer and will continue to run the company “as normal.”
Read More »GM judge says concealing switch defect would have been fraud
General Motors Co. customers who sued the automaker over fallen car prices might have a stronger case if they could prove company executives defrauded the court about a faulty ignition switch when testifying during its 2009 bankruptcy, a judge said.
Read More »GM will pay all claims from ignition-switch flaws, Feinberg says
General Motors Co. will spend whatever it takes to compensate victims of accidents in Cobalts, Ions and other cars with faulty ignition switches, said Ken Feinberg, the lawyer hired to make the payments.
Read More »