{"id":49076,"date":"2017-10-27T05:46:22","date_gmt":"2017-10-27T05:46:22","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=49076"},"modified":"2017-10-27T05:46:22","modified_gmt":"2017-10-27T05:46:22","slug":"trump-names-acting-irs-commissioner","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/news\/trump-names-acting-irs-commissioner.html","title":{"rendered":"Trump names acting IRS commissioner"},"content":{"rendered":"

Trump names acting IRS commissioner<\/span><\/strong><\/span><\/h2>\n

Trump names acting IRS commissioner:- The White House named a Treasury official to serve as acting commissioner of the Internal Revenue Service on Thursday, succeeding an IRS commissioner who has drawn the ire of congressional Republicans over his response to the screening of political groups.<\/span><\/p>\n

The White House said David Kautter will serve as acting IRS commissioner effective Nov. 13, as IRS chief John Koskinen completes his term.<\/span><\/p>\n

\u201cDavid will provide important leadership while we wait to confirm a permanent commissioner,\u201d Treasury Secretary Steven Mnuchin said.<\/span><\/p>\n

GOP lawmakers have slammed Koskinen for what they called a slow response to an Obama-era scandal involving the agency\u2019s singling out of conservative tea party groups for extra scrutiny when they applied for tax-exempt status, accusing him of destroying evidence when Congress was investigating IRS oversight of those groups.<\/span><\/p>\n

U.S. prosecutors brought a fraud and racketeering case Thursday against the founder of an opioid medication maker that has faced scrutiny across the country over allegations of pushing prescriptions of powerful painkillers.<\/span><\/p>\n

The charges against Insys Therapeutics founder John Kapoor follow indictments against the company\u2019s former chief executives and other executives and managers on allegations that they provided kickbacks to doctors to prescribe a potent opioid called Subsys.<\/span><\/p>\n

In the new indictment, Kapoor, 74, and the others are accused of offering bribes to doctors to write large numbers of prescriptions for the fentanyl-based pain medication meant only for cancer patients. Most of those who got the prescriptions did not have cancer. It also alleges they conspired to mislead and defraud insurers reluctant to approve payment for the drug for patients without cancer.<\/span><\/p>\n

Saudia Arabia announced Thursday it plans to invest $1 billion in Richard Branson\u2019s space companies.<\/span><\/p>\n

In a statement, Crown Prince Mohammed bin Salman said the country intended to take a large stake in Branson\u2019s ventures in an effort \u201cto enhance the role of innovative technology within the Kingdom\u2019s blueprint for a modern, diversified economy.\u201d<\/span><\/p>\n

The infusion of cash is a huge boon for Branson, who has said that Virgin Galactic intends to start flying tourists to the edge of space in the coming months. The investment would also go into Virgin Orbit, which is building a rocket capable of delivering small satellites to space. The deal gives the kingdom an option to invest $480 million more in future space services.<\/span><\/p>\n

In addition to flying tourists and satellites, Branson hopes to one day fly passengers around the world at incredibly high speeds in what\u2019s known as point-to-point travel.<\/span><\/p>\n

Google parent Alphabet reported a 24 percent jump in quarterly revenue on robust mobile advertising on Thursday. On a consolidated basis, the company\u2019s revenue rose to $27.77 billion in the third quarter that ended Sept. 30. Ad revenue surged 21.4 percent, to $24.07 billion. Paid clicks, where an advertiser pays only if a user clicks on ads, rose 47 percent. Analysts on average had expected an increase of 46.1 percent, according to data and analytics firm FactSet.<\/span><\/p>\n

Microsoft reported a 16 percent rise in quarterly profit on Thursday as demand for its cloud computing services for companies rose and personal computer software business stabilized. The tech giant\u2019s net income rose to $6.58 billion, or 84 cents per share, in the first quarter ended Sept. 30, from $5.67 billion, or 72 cents per share, a year earlier. Revenue rose 12 percent, to $24.54 billion.<\/span><\/p>\n

The World Trade Organization issued a ruling Thursday favoring the United States in its trade dispute with Mexico over \u201cdolphin-safe\u201d labeling for tuna. The U.S. Trade Representative\u2019s Office hailed the ruling as a \u201ccomplete and resounding victory.\u201d But Mexico\u2019s Economy Department said the country will appeal. Mexico says the U.S. rules unfairly discriminate against its tuna industry.<\/span><\/p>\n

Source:-\u00a0https:\/\/www.washingtonpost.com\/business\/economy\/trump-names-acting-irs-commissioner\/2017\/10\/26\/e214ae7a-ba64-11e7-9e58-e6288544af98_story.html?utm_term=.527cf4b7e04a<\/span><\/p>\n

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