An anonymous reader quotes a report from Reuters: President Donald Trump on Friday threatened to block federal aid for the U.S. Postal Service unless it raises shipping rates for online companies like Amazon.com, prompting criticism that the move would hurt consumers relying more than usual on packages during the coronavirus outbreak. The president has long accused the post office of charging…
Tag: Treasury Department
The Trump Administration and a Group of Major Airlines Have Agreed On a $25 Billion Bailout
According to The New York Times, the Trump administration has reached an agreement in principle with major airline companies over a $25 billion bailout to prop up the struggling industry. From the report: The terms of the agreement were not disclosed on Tuesday. The Treasury Department said that Alaska Airlines, Allegiant Air, American Airlines, Delta Air Lines, Frontier Airlines, Hawaiian Airlines,…
Postal Service Warns of $22 Billion Hole From Coronavirus
The U.S. Postal Service is facing a precipitous decline in mail volume and billions of dollars in additional losses as it operates during the pandemic, where hundreds of its workers have fallen sick and a dozen have died from the coronavirus. The Wall Street Journal reports: The quasigovernmental agency, which operates as part of the executive branch, is asking Congress for…
April 3 is John Burroughs’ birthday
John Burroughs – born in 1837 – was one of the 1st nature writers. He said: “I go to nature to be soothed and healed, and to have my senses put in order.” Source: https://earthsky.org/human-world/this-date-in-science-john-burroughs-birthday…
Pentagon Blocks Clampdown on Huawei Sales
The Commerce Department’s efforts to tighten the noose on Huawei Technologies Co. is facing a formidable obstacle: the Pentagon. From a report:Commerce officials have withdrawn proposed regulations making it harder for U.S. companies to sell to Huawei [the link may be paywalled] from their overseas facilities following objections from the Defense Department as well as the Treasury Department, people familiar with…
IRS Programmer Stole Identities, Funded A Two-Year Shopping Spree
A computer programmer at America’s tax-collecting agency “stole multiple people’s identities, and used them to open illicit credit cards to fund vacations and shop for shoes and other goods,” write Quartz, citing a complaint unsealed last week in federal court. An anonymous reader quotes their report:
The complaint accuses the 35-year-old federal worker of racking up almost $70,000 in charges over the…
US Holds Off On Huawei Licenses As China Halts Crop-Buying
After China said it was halting purchases of U.S. farming goods earlier this week, the White House retaliated by postponing a decision about licenses for U.S. companies to restart business with Huawei. “Commerce Secretary Wilbur Ross, whose department has vetted the applications to resume sales, said last week he’s received 50 requests and that a decision on them was pending,” reports…
Donald Trump Blasts Bitcoin, Facebook Libra, Demands They Face Banking Regulations
President Donald Trump on Thursday night warned Facebook over its plan to create digital currency Libra, a move that poses a new obstacle to the company’s cryptocurrency ambitions. From a report: “Facebook Libra’s ‘virtual currency’ will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject…
David Malpass, Trump’s Pick to Lead World Bank, Is Approved
Mr. Malpass, a Wall Street veteran and a Treasury official, is a longtime critic of the international agency’s lending practices and business model. Source: https://www.nytimes.com/2019/04/05/business/david-malpass-world-bank.html?partner=rss&emc=rss
Trump Names Jovita Carranza, U.S. Treasurer, to Lead the Small Business Administration
The current administrator of the agency, the former pro wrestling executive Linda E. McMahon, stepped down from the role last week. Source: https://www.nytimes.com/2019/04/04/us/politics/jovita-carranza-small-business-administration.html?partner=rss&emc=rss