Aug 27, 2019 - Politics & Policy

Deutsche Bank has Trump's tax records sought by House Democrats

President Donald Trump speaks to reporters at the White House in Washington, D.C. Photo: Mandel Ngan/ AFP/Getty Images

Deutsche Bank confirmed in a letter Tuesday that it has tax returns subpoenad by House Democrats seeking financial information on President Trump and his family.

The big picture: The disclosure was filed in response to an appeals court order amid a legal battle between Congress and the president over access to Trump’s business records, per the Washington Post. The court is considering a request by Trump to block access to financial records at the German bank and Capital One Financial Corp., Bloomberg notes. The bank’s public redacted response does not identify its client by name.

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Marisa Fernandez
1 hour ago - Politics & Policy

Downtown Chicago hit by widespread looting

Police officers inspect a damaged Best Buy in Chicago that was looted and vandalized. Photo: Scott Olson/Getty Images

Chicago police responded to hundreds of people looting stores and causing widespread property damage in the city's downtown overnight, resulting in at least one exchange of gunfire, the Chicago Tribune reports.

The state of play: Police superintendent David Brown said the event was a coordinated response after an officer shot a suspect on Sunday evening, per CBS Chicago.

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Fadel Allassan
2 hours ago - Economy & Business

McDonald's sues former CEO, alleging he lied about relationships with employees

Former McDonald's CEO Steve Easterbrook. Photo: Drew Angerer/Getty Images

McDonald's on Monday sued its former CEO Steve Easterbrook, seeking to recoup tens of millions in severance benefits while alleging he took part in and concealed undisclosed relationships with company employees, per the New York Times.

Why it matters: Corporations have traditionally chosen to ignore executive misbehavior to avoid bad press, but they have become more proactive — especially with the rise of the #MeToo and Black Lives Matter movements — in addressing issues head-on.

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Dion Rabouin
4 hours ago - Economy & Business

The transformation of the Fed

Illustration: Eniola Odetunde/Axios

The Federal Reserve is undergoing an overhaul. Conceived to keep inflation in check and oversee the country's money supply, the central bank is now essentially directing the economy and moving away from worries about rising prices.

What we're hearing: The move to act less quickly and forcefully to tamp down on inflation has been in the works for years, but some economists fear that the Fed is moving too far from its original mandate.

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