Category Archives: Business

Huge investment in Navy shipyards drive economic turnaround

As tensions continue to escalate between the United States, North Korea and Iran over nuclear capabilities and intentions, thousands of civilians and Navy personnel at the Portsmouth Naval Shipyard are hard at work overhauling, repairing and modernizing U.S. submarines that could one day be sent into battle.

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Trump’s $4.1tr budget takes hatchet to safety net

The White House has unveiled Trump’s $4.1tr (£3.1tr) budget that would take the axe to the social safety net for the poor.The plan would sharply slash food stamps, healthcare for low-income patients, disability benefits and eliminate student loan subsidies.

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US trade representative says United States won’t return to Trans-Pacific Partnership

Sunday U.S. Trade Representative Robert Lighthizer reaffirmed that the United States will not return to the Trans-Pacific Partnership trade deal. Attending a meeting of ministers from Asia-Pacific Economic Cooperation (APEC) countries in Vietnam, Lighthizer said that the U.S. favors bilateral over multicultural trade deals, Reuters reported.

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Trump in Saudi Arabia signs $110B arms deal with Persian Gulf ally

Saturday President Trump in Saudi Arabia signed a nearly $110 billion arms deal to help the Persian Gulf ally with its military-defense system. “The package includes defense equipment and other support to help the Arab nation and the rest of the Gulf region again the threat of a nuclear-armed Iran terrorism,” according to the White House.

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Trump to follow Pence in releasing 2016 financial records

According to the White House, President Donald Trump is preparing to go public with information about how last year shaped his personal fortune. The plan was disclosed Monday as Vice President Mike Pence filed his own 2016 personal financial disclosure form with the Office of Government Ethics. Pence reported earning about $110,000 last year, entirely from his …

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Mnuchin: US partners more comfortable with Trump on trade

U.S. Treasury Secretary Steven Mnuchin says major trading partners “are much more comfortable” with the Trump administration’s trade policies and understand U.S. growth will benefit them.

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AFL-CIO ‘Paywatch’ report slams CEO pay but not the high pay of its own execs

A powerful labor union’s new report slams the pay gap between CEOs and rank-and-file workers, but critics say it conveniently ignores the sky-high salaries union bosses pull down.

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Gun sales remain near record levels in April

The number of gun-related background checks in April remained near record levels, FBI statistics released on Monday show. The National Instant Criminal Background Check System (NICS) ran 2,045,564 gun-related checks in April. That represents a decrease of about a hundred thousand checks from the all-time record for the month of April set in 2016. It also is a drop of …

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FDA approves new drug with a whopping $700,000 price tag

BioMarin estimates that between 1,200 to 1,600 children across the globe have the condition — 85 percent of whom live outside the United States. Though patients won’t actually have to pay that much money for the drug, it adds to the controversy surrounding high prices for rare disease drugs.

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Obama reportedly pulls in another $400G for speech

With that kind of money, he doesn’t need that pension, does he? Odummer who has been criticized for taking in $400,000 for a Wall Street-sponsored speech, has reportedly pulled in the exact same amount for another speech in New York.

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