US Treasury Secretary Steven Mnuchin met with Bank of England Governor Mark Carney and discussed the US role in global financial regulations. "Secretary Mnuchin underscored that he looked forward to working with Governor Carney on international financial regulatory issues and noted that one of the administration's core principles for financial regulation is to promote American interests in international financial regulatory negotiations and meetings," according to a Treasury Department statement.
President Donald Trump has signed a bill to end a three-day shutdown of the government. Senate Democrats voted for an interim measure that funds the government through Feb. 8 after Senate Majority Leader Mitch McConnell, R-Ky., said he would allow a vote on an immigration bill in coming weeks.
The Senate has voted 84-13 to confirm Jerome Powell as chairman of the Federal Reserve. Powell will assume the duty when the term of Chair Janet Yellen ends Feb. 3.
Federal Reserve Chairman Jerome Powell says he expects the central bank to press ahead with interest-rate increases as it works to get inflation up to its 2% target. Gradual increases will support steady economic expansion and a strong labor market "as long as the economy continues broadly on its current path," he says.
The House tax bill would restrict preferential treatment of carried interest to investments held for three or more years. The Senate bill in its present form doesn't make any changes, but Sen. Chuck Grassley, R-Iowa, a senior member of the Senate Finance Committee, has said some changes will probably be made when the committee takes up the bill.
The Trump administration has no plans to break up big banks, Treasury Secretary Steven Mnuchin told the Senate banking committee Thursday. Breaking up Wall Street's biggest banks would negatively affect liquidity and the economy, he said.
Amazon's push into the grocery market has prompted other grocers to look for their own high-tech partners among startups working on key issues such as inventory management. "Are technology folks like us going to figure out retail faster than the retailers figure out technology?" asked Chieh Huang of Boxed, which received a major investment this week from Japanese retailer Aeon Group.
Amazon has begun its program offering discounts to Prime members on many items at Whole Foods Market, as well as 10% off special sale items. The program has launched in Florida stores and will expand to other areas this summer.
Walmart is touting its brick-and-mortar locations as a key advantage over Amazon for brands to retarget consumers from Walmart.com. Offline transaction data and the sheer scale of its operations are the unique elements the retailing giant cites in its pitch to brands and agencies, executive sources note.
Branching out from its debut store in Seattle, Amazon is taking its checkout-free Go stores to Chicago and San Francisco. To shop in a Go store, the customer must download the Amazon Go app on their smartphone and select a mobile payment method.
- Page 1