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The Guardian

Clinton supports hand-counting Wisconsin ballots: Hillary Clinton made her first move in the presidential election recount effort on Tuesday, declaring support for an attempt to force Wisconsin authorities to review the state’s 3m votes by hand. Clinton intervened in the case of a lawsuit brought by Jill Stein, the Green party candidate, which seeks to bar officials in Wisconsin from carrying out recounts with machines, according to the docket for the case at Dane County circuit court. An attorney for Clinton said in a court filing that the former secretary of state argues, like Stein, that hand recounts are superior to automatic recounts of ballots by optical scanners, which are used by about 90% of counties in the state.

The Economist

A bad time to be cutting Britain’s corporate-tax rate: PHILIP HAMMOND, the chancellor, made a few tweaks in his Autumn Statement on November 23rd but otherwise stuck to the fiscal policy set by his predecessor, George Osborne. A central plank of this stance is to keep cutting corporation tax, which is levied on company profits. The government hopes that will persuade businesses to invest in Britain. It might, but on political grounds it still looks unwise. As firms have become more mobile, governments have had to work harder to keep them. The corporate-tax rate has tumbled across the G20 group of rich countries in recent years. Britain has led the way. Its rate was 52% in the 1970s. Between 2010 and 2015 it fell from 28% to 20%. Mr Hammond will bring it down to 17% by 2020. Theresa May, the prime minister, has reportedly told her EU counterparts that, unless she gets a good Brexit deal, she may slash the rate to 10%.

The New York Times

Trump Said to Pick Hollywood Financier to Lead Treasury: Steven Mnuchin, a financier with deep roots on Wall Street and in Hollywood but no government experience, is expected to be named Donald J. Trump’s Treasury secretary as soon as Wednesday, people close to the transition say. Mr. Mnuchin, 53, was the national finance chairman for Mr. Trump’s campaign, and his selection would elevate a wealthy loyalist to a pivotal economic post. He began his career at Goldman Sachs, where he became a partner, before creating his own hedge fund, moving to the West Coast and entering the first rank of movie financiers by bankrolling hits like the “X-Men” franchise and “Avatar.”

Financial Times

Mnuchin set to be Trump’s Treasury secretary: The next US Treasury secretary is set to be Steven Mnuchin, a Goldman Sachs veteran turned movie producer, who US media outlets said on Tuesday had been picked by Donald Trump as the latest Wall Street figure to receive a cabinet post. Mr Mnuchin chairs the Dune Capital hedge fund and Dune Entertainment Partners and has been a longtime business associate of Mr Trump, who he supported during the Republican primary and then served as campaign finance director. As Treasury secretary he will face the challenges of managing the national debt, global financial ties and Wall Street regulation for a president whose plans appear set to raise government borrowing, risk trade tensions and loosen the shackles on banks.

 

 

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