House panel approves GOP Dodd-Frank rewrite
The House Financial Services Committee approved a bill Thursday to repeal and roll back significant pieces of the Dodd-Frank Wall Street Reform and Consumer Protection Act.The panel voted to send Chairman Jeb Hensarling’s (R-Texas) Financial CHOICE Act to the House floor, 34-26, along party lines. The bill would accomplish much of a long-term GOP goal: to revoke the expansive financial regulations passed under President Obama after the 2008 financial crisis and long protected by Democrats.All of..>> view originalChina's New Jetliner, the Comac C919, Takes Flight for First Time
Planning for the 158-seat C919 began more than a decade ago, but the plane has become a centerpiece of the country’s more recent ambitions to become largely self-sufficient in many high-tech goods and to export them as well. That plan, called Made in China 2025, worries many Western businesses who fear competing against government-supported Chinese companies. Photo Employees on Thursday in the hangar of the building where a second C919 aircraft is being built. The manufacturer said that it wou..>> view originalUber Faces Federal Inquiry Over Use of Greyball Tool to Evade Authorities
Reuters reported on Thursday that the inquiry was a criminal investigation. The United States attorney’s office for the Northern District of California generally conducts criminal investigations, and some of the laws that Uber may have broken carry criminal penalties. A federal inquiry often does not result in any charges being filed. Press officers for Uber and the United States attorney’s office, as well as the City of Portland, declined to comment on Thursday.Uber has been grappling with a n..>> view originalFCC Chief: Net Neutrality Rules Treating Internet As Utility Stifle Growth
Federal Communications Commission Chairman Ajit Pai has started the process to roll back Obama-era regulations for Internet service providers. Emily Bogle/NPR hide caption toggle caption Emily Bogle/NPR Federal Communications Commission Chairman Ajit Pai has started the process to roll back Obama-era regulations for Internet ..>> view originalApple plans to spend $1 billion to support advanced manufacturing jobs in the US
(John Taggart/Bloomberg News) Apple says that it intends to bolster the U.S. manufacturing sector by creating a $1 billion “advanced manufacturing fund” — with some of that initial money going toward a company the tech giant is prepared to partner with, chief executive Tim Cook said. The announcement, which Cook made Wednesday on CNBC, comes after months of focus by President Trump on jobs, manufacturing and the global economy. Cook did not appear to suggest that his company's decision was ..>> view originalDelta Air Lines kicks US family off flight after row over toddler
Image copyright Brian Schear Image caption The Schears and their two toddlers were forced off the flight US airline Delta is facing a public-relations problem after a family claimed they were kicked off a flight for refusing to give up a child's seat."This is a federal offence and then you and your wife will be in jail and your kids will be in foster care," a crew member can be heard telling the family.A YouTube video of the incident has clocked up mo..>> view originalFirst test flight of stratospheric solar plane
Payerne (Switzerland) (AFP) - The first solar plane aimed at reaching the stratosphere made an initial low-altitude test flight over Switzerland Friday.The SolarStratos, a super-light, sleek, white two-seater aircraft with long wings covered with solar panels, took off from Payerne at 8:00 am (0600 GMT), according to an AFP photographer at the airbase in western Switzerland."The maiden flight of the prototype ... went off without a hitch," the SolarStratos team said in a statement.Pilot Damian H..>> view originalTesla Has a Lot More in Store Than the Model 3
After Tesla Inc. reported earnings on Wednesday, Elon Musk cracked open the lid on his box of secrets. While most investors focused on rising costs and execution risk as he prepares for his most important product launch, the CEO dropped a pile of hints about what new adventures may be in store for the darling of America’s electrified future. Here are 14 noteworthy nuggets: Model 3 is “close to the bullseye.” As Tesla approaches the July launch of its first mass-market car, Musk provided details..>> view originalOil Steadies After Slump to Five-Month Low as Shale Subdues OPEC
Oil steadied after sliding below $45 a barrel for the first time since OPEC agreed to cut output in November as U.S. shale confounds the producer group’s attempts to prop up prices. The most important business stories of the day. Get Bloomberg's daily newsletter. In less than 10 minutes on Friday, U.S. futures slumped more than $1 amid a surge in volume. They have collapsed 7.8 percent this w..>> view originalMessage of Puerto Rico Debt Crisis: Easy Bets Sometimes Lose
The unprecedented legal filing came only a few days after hedge funds and other holders of Puerto Rico’s general obligation debt thought they had cut a deal with the government to avoid bankruptcy. The move represented one of the lowest points in Wall Street’s long, torturous history of investing in Puerto Rico’s bonds. The hedge funds have been battling to protect their investments through the administrations of two Puerto Rico governors and across Capitol Hill, keeping an army of lawyers, con..>> view original
Tuesday, May 30, 2017
House panel approves GOP Dodd-Frank rewrite and other top stories.
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