President Donald Trump will sign executive orders on Friday to review the Dodd-Frank Wall Street reforms and halt a Labor Department rule designed to curb potential conflicts among brokers who give retirement advice, according to a White House spokeswoman.
Trump’s move marks a step toward making good on a campaign promise to dismantle the 2010 Dodd-Frank law, which was passed in the wake of the 2007-2009 financial crisis. The legislation forced banks to take various steps to prevent another financial crisis, including holding more capital and taking yearly “stress tests” to prove they could withstand economic turbulence. The financial industry, particularly its small community banks, complained the rules went too far.
Financial markets are reacting with a bit of confusion. Some are seeing the headline number and thinking a hike is on the cards while others are digging below the surface and concluding it might not be.
President Donald Trump has proposed construction of a US-Mexican border wall and is expected to pause the flow of refugees to America as he launched broad but divisive plans to reshape US immigration and national security policy.
A draft executive order seen by Reuters that Trump is expected to sign in the coming days would block the entry of refugees from war-torn Syria and suspend the entry of any immigrants from Muslim-majority Middle Eastern and African countries Syria, Sudan, Somalia, Iraq, Iran, Libya and Yemen while permanent rules are studied.
U.S. President Donald Trump on Tuesday pushed the heads of GM, Ford and Fiat Chrysler to build more of their cars in the United States and boost American employment in the process.
After weeks of taunting the automotive industry over Twitter, Trump made a point to meet with the CEOs of General Motors, Ford and Fiat Chrysler just days into his term. He has pressured the companies to build more vehicles in the U.S. and hire more Americans into manufacturing jobs.
"I want new plants to be built here for cars sold here!" Trump said in a tweet ahead of the breakfast meeting with automakers, saying he would discuss U.S. jobs with the chief executives.
President Donald Trump moved Monday to pull the United States out of the Trans-Pacific Partnership; the 12-nation trade deal was a linchpin of former President Barack Obama’s Asia policy.
Among a series of executive orders, the first was a memo on withdrawing from the vast TPP trade pact, which aimed to set trade rules for the 21st century and bind US allies against growing Chinese economic clout.
"We’re going to stop the ridiculous trade deals that have taken everybody out of our country and taken companies out of our country," the Republican president said as he met with union leaders in the White House’s Roosevelt Room.
Half a decade into its search for a new handgun, the US Army has chosen Sig Sauer’s version of the Modular Handgun System, according to a Thursday announcement from the Army. The $580 million contract announced yesterday covers procurement over 10 years. Sig Sauer is a German Swiss company and will provide thousands of new handguns to the US military under the contract over the next decade, the Defense Department explained.
Donald Trump, the US President-elect who bitterly divided his nation, has been named TIME magazine’s Person of the Year.
In fact, the cover of the magazine called him the "President of the Divided States of America."
Time editor Nancy Gibbs explained: “For all of Trump’s public life, tastemakers and intellectuals have dismissed him as a vulgarian and carnival barker, a showman with big flash and little substance. “But what those critics never understood was that their disdain gave him strength.”
Trump was described by the magazine as having “upended the leadership of both major political parties and effectively shifted the political direction of the international order."
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