The bipartisan agreement cuts food stamps, the biggest U.S. Department of Agriculture program, less than Republicans demanded while modifying subsidy programs for crop growers and leaving mostly unscathed companies that provide insurance for farmers.
Read More »Fed would need to reveal more on bank oversight under bill
The bill would require the Fed to perform a cost-benefit analysis of any new banking rule and disclose more about bank stress tests.
Tagged with: Federal Reserve
Read More »SEC deploying new tool to spot insider trading
The agency’s National Exam Analytics Tool will allow SEC examiners to analyze millions of trades for patterns that suggest suspicious activity “in a fraction of the time it has taken in years past."
Tagged with: Securities and Exchange Commission
Read More »Tax-free gifts quadrupled when Congress raised limit
U.S. taxpayers reported making $122 billion in nontaxable gifts on the returns they filed in 2012, more than four times the amount they made in each of the two previous years.
Read More »Supreme Court gives big wins to businesses
The court on Monday gave airlines greater immunity from lawsuits when they report potential security threats. The justices also ruled for U.S. Steel Corp. by saying companies in many cases don’t have to pay workers for time spent putting on and taking off safety gear.
Tagged with: U.S. Supreme Court
Read More »Report: Refinancing for commercial real estate may become tougher
A national analytics firm estimates $1.4 trillion of commercial mortgages issued before the recession are expected to mature within the next four years.
Read More »JPMorgan ups CEO’s pay 74 percent to $20 million
JPMorgan Chase & Co. gave Chief Executive Officer Jamie Dimon a 74 percent raise to $20 million last year, bringing his pay closer to where it stood before the board faulted his oversight of botched derivatives bets.
Tagged with: JPMorgan Chase & Co.
Read More »Business lobby woos religious groups for immigration revamp
The U.S. Chamber of Commerce is wooing religious groups to overcome opposition of conservative lawmakers to immigration-law revisions as Congress is poised to consider the issue.
Read More »Tax-avoidance proposals to focus on digital economy
The rules would try to keep companies from putting patent rights into mailbox companies or taking interest deductions in one country without reporting taxable profits in another.
Read More »Bill Gates predicts almost no poor countries left by 2035
Bill Gates, the world’s richest man, said that by 2035 no nation will be as poor as any of the 35 that the World Bank now classifies as low-income, even adjusting for inflation.
Read More »Verizon: Government requests rose to 320,000 last year
Verizon Communications Inc. said it received 320,000 inquiries from federal, state and local authorities in the U.S. last year.
Tagged with: National Security Agency Verizon Communications
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