Why the tech giants may suffer lasting pain from their Hill lashing
Wednesday's much-anticipated antitrust hearing subjected four of the tech industry's most powerful CEOs to hours of aggressive questioning by Republicans and Democrats alike.
But it also may have revealed something far more lasting: A Congress that has largely soured on Silicon Valley is beginning to figure out how to hold it to account, compiling piles of documents that could back up allegatio...
Delaware Beer Distributor: I Wore a Wire to Probe Biden’s Fundraising
Christopher Tigani was a wealthy beer distributor who relished his close ties to Delaware politicians, particularly Joe Biden, when the FBI confronted him outside a Royal Farms gas station in September 2010.
Tigani was in trouble. While serving as a bundler for Biden’s aborted 2008 presidential campaign, he had reimbursed his employees for contributions made in their names, a well-worn tactic f...
Fraud concerns loom over move to forgive small business loans
The banking industry is pressing Congress to convert millions of emergency small business loans into grants with minimal paperwork — an idea that some lawmakers and watchdog groups warn could expose the government to massive fraud.
The banks are pushing the issue because businesses that took the so-called Paycheck Protection Program loans are beginning to file applications to have the loans for...
EU looks to target Big Tech in trade war with America
Europe is ready to get creative to win the next bout of trade war against America.
The EU is preparing a law that could allow its executive body, the European Commission, to hit back against U.S. tariffs by imposing sanctions on the intellectual property of companies such as Amazon, Google and Facebook.
In a rare united front, Europe's main political groups on July 6 backed proposals to stre...
Trump stares down a ticking economic time bomb
It’s crunch time for the key issue President Donald Trump’s aides and advisers believe will determine his fate this November.
A stretch of critical decisions from mid-July until Labor Day will lay the foundation for what the U.S. economy will look like in October before voters make their final decisions. And White House officials are scrambling to prevent a dangerous pileup.
Governors must t...
Mnuchin: Congress should consider forgiving smaller business loans
Treasury Secretary Steven Mnuchin told lawmakers on Friday that they should consider automatic forgiveness for many loans under the Paycheck Protection Program, the $670 billion government-backed rescue of small businesses.
“I know one of the things we’ll talk about is: Should we just have forgiveness for all the small loans?” Mnuchin said during testimony to the House Small Business Committee....
Massive hack roils Twitter after seizing accounts of Obama, Biden and others
Unknown hackers plunged Twitter into chaos on Wednesday evening, commandeering the accounts of high-profile politicians and other famous figures in a massive breach that forced the social network to curtail access and disrupted everything from news coverage to government tornado warnings.
The fraudulent tweets sent from the accounts of high-profile figures such as former President Barack Obama,...
Big banks set aside billions for potential loan defaults
JPMorgan Chase notched higher-than-expected earnings in the second quarter but braced for losses from borrowers defaulting on their loans, as the bank's outlook for the U.S. economy becomes more pessimistic.
JPMorgan, the biggest bank in the country, set aside $10.5 billion to cover potential losses on its loan books, cutting aggressively into its profits, which came in at $4.7 billion. Its dec...