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President Barack Obama named top White House budget office aide Daniel Werfel to be acting commissioner of the Internal Revenue Service, the White House said on Thursday.Obama ousted acting IRS commissioner Steven Miller late on Wednesday shortly after the revelation the IRS had targeted conservative groups for special scrutiny. The president called the targeting inexcusable, but the incident has become a embarrassment for him.Werfel is controller of the White House Office of Management and Budget. He was in the public eye earlier this year when he briefed reporters about deep government spending cuts that went into effect March 1 under the process known as sequestration.Werfel warned at the time that sequestration would pose "a serious threat to our national security, domestic priorities and the economy." Many economists say that if the cuts had not occurred, unemployment would be lower, and Congress acted quickly to prevent the reductions from disrupting air traffic, but in general, ...
A source tells FOX Business the Federal Aviation Administration will begin sequester-related furloughs on Sunday, a move that has airlines preparing for the worst. W...
U.S. satellite TV company Dish Network Corp. has asked the Federal Communications Commission to suspend a review of its rival suitor Softbank Corp.'s bid for U.S. ce...
Daimler AG (DDAIY, DAI.XE) said it made plans to sell its remaining 7.5% stake in Airbus owner European Aeronautic Defence & Space Co. (EADSY, EAD.FR), the final ste...
It's the question looming over every soon-to-be college graduates' head: Will I find a job?The Great Recession took its toll on the still-recovering labor market and...
Rio Tinto PLC (RIO) is accelerating a plan to sell billions of dollars in non-core assets despite a slowdown in commodities that could lower the price tag on the dea...
China's Huawei Technologies Co. has had a rough time persuading countries from the U.S. to Australia that its latest communications gear doesn't pose a national secu...
President Barack Obama included $4 billion to improve security at hundreds of overseas diplomatic posts in his budget proposal on Wednesday, in the wake of the deadl...
Internet giant Google Inc. (GOOG) is facing a new controversy over its mapping software and services as India's police started scrutinizing whether its recent contes...
If there's anyone that's got the might, dollars and energy to take on the FBI, it's Google. The Internet search giant, which is constantly battling concerns about pr...
Recent news stories have highlighted the extent to which American companies have been subjected to cyber attacks. (The week-long series on cyber security by FOX Busi...
A Huawei Technologies Co. executive admitted that the company's core wireless network business will see no growth this year in the U.S. as it has been effectively sh...
South Korea said Monday it would speed up plans to develop missile-defense systems, as President Park Geun-hye called for "strong retaliation" against any provocatio...
U.S. broadcast networks head into their biggest ad-selling season this week, competing with streaming services like Netflix, battling online players for ad dollars, ...
Ren Zhengfei, founder and CEO of Huawei Technologies Co Ltd, defended the Chinese firm's stand on U.S. cyber-security concerns when he spoke to the media for the fir...
A group of activist hackers kicked off an ambitious cyber operation on Tuesday that targeteted a slew of high-profile American targets, however the Group Anonymous a...
Samsung Electronics Co. (005930.SE) and Apple Inc. (AAPL) are bringing the smartphone wars to the Pentagon.The Department of Defense is expected in coming weeks to g...
Morgan Stanley has hired Michele Davis, a public relations official and policy director who helped shape the Treasury Department's strategy during the financial cris...
Detractors of immigration reform say the Tsarnaev brothers’ legal residence points to huge problems in the U.S. system. But supporters argue this is just a distraction – and that the nation’s entrepreneurs need reform fast.
Sprint Nextel Corp and SoftBank Corp <9984.T> asked regulators on Friday to go ahead with a review of their proposed $20.1 billion deal after Sprint's rival suitor, ...
