New York (CNNMoney) - Donald Trump didn't make it to the White House, but his next hotel may not be far away.
The General Services Administration announced an agreement with the Trump Organization Wednesday to redevelop Washington's historic Old Post Office building, just a few blocks from the White House on Pennsylvania Avenue. The deal is still subject to review by Congress.
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New York (CNNMoney) - Apple executives are set to defend the company's tax practices and call for corporate tax reform on Capitol Hill Tuesday amid harsh criticism following a Senate investigation.
A report released Monday by Senators John McCain, R-Arizona, and Carl Levin, D-Michigan, charged that Apple "has used a complex web of offshore entities - including three foreign subsidiaries the company claims are not tax resident in any nation - to avoid paying billions of dollars in U.S. income taxes."
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New York (CNNMoney) - President Obama's allies in the labor movement may not be happy with his choice for commerce secretary.
Obama nominated Chicago businesswoman Penny Pritzker for the post at a ceremony in the White House Rose Garden on Thursday. Pritzker still needs to be confirmed by the Senate.
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New York (CNNMoney) - Standard & Poor's said Friday that the fiscal cliff gridlock in Washington is unlikely to spark an additional downgrade of the country's credit rating.
S&P made headlines in August of 2011 by knocking the U.S. down from AAA status to to AA+ following the political wrangling over the debt ceiling. At the time, the rating agency said the affair showed "America's governance and policymaking becoming less stable, less effective, and less predictable."
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New York (CNNMoney) - President Obama vetoed the acquisition of four wind-farm companies in the U.S. by a Chinese-owned firm on Friday, citing national security concerns.
The companies' projects are all located near a U.S. military site in Oregon, the Naval Weapons Systems Training Facility Boardman, the Treasury Department said in a statement.
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New York (CNNMoney) - Congress' official scorekeeper said Wednesday that roughly two million more Americans will pay penalties under President Obama's health care law for lacking insurance than had previously been estimated.
Under the law, Americans must be insured starting in 2014 or pay a penalty assessed on their tax returns.
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