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20199 articles published since 08 Mar 2022

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Toyota arm Hino makes deal to settle emission fraud case
Toyota arm Hino makes deal to settle emission fraud case
Economy

US officials late Wednesday announced a $1.6 billion deal with Toyota subsidiary Hino Motors to settle charges it deceived regulators about the amount of emissions spewed by its diesel engines. US regulators and the state of California, which has strict vehicle emission standards, worked out criminal and civil remedies with Hino valued at more than $1.6 billion.

US firms concerned about Trump tariff, immigration plans: Fed
US firms concerned about Trump tariff, immigration plans: Fed
Economy

US businesses across the country are concerned about the economic impact of President-elect Donald Trump's proposals to raise tariffs and sharply curtail immigration, the Federal Reserve said Wednesday. Despite the worries, businesses across the Fed's 12 districts reported an overall increase in economic activity in late November and December, the Fed said.

Yellen warns against extending Trump's first-term US tax cuts
Yellen warns against extending Trump's first-term US tax cuts
Economy

US Treasury Secretary Janet Yellen warned Wednesday that plans to extend President-elect Donald Trump's 2017 tax cuts -- which remained in place under Joe Biden but are set to expire -- will add to unsustainable deficits. Yellen pointed to estimates that extending provisions of the Tax Cuts and Jobs Act could add around $4 trillion to deficits through 2034.

US bank profits rise as Wall Street hopes for merger boom
US bank profits rise as Wall Street hopes for merger boom
Economy

Large US banks reported soaring profits Wednesday propelled by strength in trading and financial advisory services as Wall Street eyes a potential merger boom under the incoming Trump administration. Gains in banking shares helped lift Wall Street stocks Wednesday.

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