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Treasury Blocks Chinese Bank From U.S. Financial System Over North Korea Ties

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The Trump administration officially cut off a small Chinese bank from the U.S. financial system on Thursday, accusing it of helping North Korea develop its illegal ballistic missile program.

Trump Says Jerome Powell Is His Choice to Lead Federal Reserve

President Donald Trump said he would nominate Federal Reserve governor Jerome Powell to be the next chairman of the central bank, saying he has the "wisdom and leadership" to guide the economy through any turbulence that arises.

Inside Trump's Search for a Fed Leader

As he cast about for someone to lead the world's most powerful central bank, President Donald Trump kept everyone guessing.

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Republicans Stick With Big Corporate Tax Cuts in House Bill

The Tax Cuts and Jobs Act would permanently chop the corporate tax rate from 35% to 20%, compress the number of individual income tax brackets, and repeal the taxes paid by large estates starting in 2024, according to a detailed summary of the plan reviewed by The Wall Street Journal. The plan would seek the biggest transformation of the U.S. tax code in more than 30 years.

Cash-Strapped Venezuela Seeks to Restructure Debt

Venezuelan President Nicolás Maduro said the cash-strapped South American country will seek to restructure its debt, raising the prospect of a showdown with bondholders that could be complicated by U.S. sanctions on key members of the Venezuelan administration.

CFTC Official: Revamp Postcrisis Swap Rules

Postcrisis swap rules are too dependent on misleading measurements of risk, Commodity Futures Trading Commission member Brian Quintenz said in a speech Thursday.

Winners and Losers of Republican Tax Plan

The heirs of wealthy people and business owners in low-tax states are among those most likely to benefit from the tax overhaul proposed Thursday by Republicans in the House of Representatives

Tax Plan Puts GOP Divisions on Display

Republicans cheered the unveiling of their long-awaited tax-overhaul bill, though fault lines quickly emerged over some of the proposal's components.

How GOP Tax Plan Could Hobble Housing Market

The House GOP tax bill would reduce or eliminate virtually all of the tax incentives of homeownership. Builders, lenders and Realtors say it would damage an industry that accounts for nearly one-sixth of the U.S. economy.

Plan Offers Way for Companies to Bring Money to U.S.

A lower, but mandatory, tax on offshore earnings could pave the way for U.S. companies to repatriate more than $1.3 trillion currently parked overseas.

(END) Dow Jones Newswires

November 02, 2017 21:15 ET (01:15 GMT)