Bloomberg Politics: news on page 597

Turnbull Government Reclaims Majority With Sydney Election Win

Turnbull Government Reclaims Majority With Sydney Election Win

Australia’s government won a key election in Sydney on Saturday, regaining its parliamentary majority in a boost for Prime Minister Malcolm Turnbull.
Trump Says U.S. Economy to ‘Rock’ as GOP Races to Tax-Cut Finish

Trump Says U.S. Economy to ‘Rock’ as GOP Races to Tax-Cut Finish

President Donald Trump predicted the U.S. economy is “going to start to rock” when the Republican rewrite of the U.S. tax code is complete after a six-week sprint.

South Africa's ANC Delays Start of Elective Conference

South Africa’s ruling party announced a five-hour delay to the start of its elective conference on Saturday to enable it to complete the process of registering about 5,000 voting delegates.

S. Africa to Start Free Tertiary Education for Poor Citizens

South Africa will introduce free tertiary education for students from homes where the combined annual income is 350,000 rand ($27,600) or less annually.
China Seeks Financial Cooperation With U.K.

China Seeks Financial Cooperation With U.K.

China wants to deepen financial and investment links with the U.K. as Britain seeks to boost two-way trade once it leaves the European Union.

Democrats Hit Justice Department for Release of Anti-Trump Texts

The Justice Department’s inspector general said Friday that his office wasn’t consulted about the decision to release private anti-Trump text messages between two FBI officials to reporters this week.
GOP Tax Plan Sets Higher Rate Than Expected on Offshore Earnings

GOP Tax Plan Sets Higher Rate Than Expected on Offshore Earnings

The top tax rate that U.S. companies would pay on an estimated $3.1 trillion in earnings they’ve stockpiled overseas crept up to 15.5 percent in the final version of the GOP tax bill released Friday.
Tax Bill Drops FIFO Rule That Could Raise Taxes on Stock Sales

Tax Bill Drops FIFO Rule That Could Raise Taxes on Stock Sales

Investors have dodged a rule change that could have raised their tax bills when they sell stock.

Puerto Rico to Lose Tax Advantages Under GOP Plan, Expert Says

The final version of the Republican tax plan would end some of the tax advantages companies with operations in Puerto Rico have long enjoyed, potentially delivering an economic blow to the territory
Tax Savings for K-12 Tuition Riles Public School Advocates

Tax Savings for K-12 Tuition Riles Public School Advocates

A pair of provisions in the final version of the Republican tax overhaul proposal would be a boon to private schools, but risks reducing local funds for public schools, according education advocates.
Democrats Threaten to Allow Medicare Cuts to Save Obamacare

Democrats Threaten to Allow Medicare Cuts to Save Obamacare

House Democrats are threatening to allow automatic spending cuts triggered by the Republican tax bill to take effect next year unless Speaker Paul Ryan ends an attempt to cripple Obamacare.
Poland Stares Down EU Sanctions Talk by Revamping Supreme Court

Poland Stares Down EU Sanctions Talk by Revamping Supreme Court

The European Union is set to move ahead next week with plans to slap unprecedented sanctions on one of its own members, Poland, for failing to uphold democratic norms during overhauls of the country’s
Highlights From the GOP's Revised Tax Bill

Highlights From the GOP's Revised Tax Bill

Congressional Republicans revealed the final details of their agreed-upon tax-overhaul legislation. Bloomberg's Anna Edgerton takes a look at the highlights on "Bloomberg Technology." (Source:
Obamacare Subsidy Lawsuit Settled by White House, Democrats

Obamacare Subsidy Lawsuit Settled by White House, Democrats

A long-running lawsuit between the Trump administration, House Republicans and Democratic attorneys general over billions of dollars of Obamacare subsidies has been settled, according to an agreement
Corporate Winners and Losers in GOP Tax Bill

Corporate Winners and Losers in GOP Tax Bill

Now that Republicans in Congress have released their final tax bill, two big questions remain.
Trump Lawyers Will Meet Mueller as Early as Next Week

Trump Lawyers Will Meet Mueller as Early as Next Week

President Donald Trump’s private lawyers are set to meet with Special Counsel Robert Mueller as early as next week to discuss the next phases of his Russia investigation, according to a person
Deutsche Bank Queried for Info Possibly Tied to Flynn, WSJ Says

Deutsche Bank Queried for Info Possibly Tied to Flynn, WSJ Says

U.S. authorities asked Deutsche Bank AG to hand over information about transactions that could be linked to former national security adviser Michael Flynn or entities connected to him, the Wall Street

Congress's Tax Bill Keeps Subsidies for Private Activity Bonds

The final version of the tax bill struck by Congressional negotiators would continue to subsidize municipal bonds that help businesses to finance infrastructure projects such as airports and toll
Boeing Sales to Iran at Risk as Trump Revisits 2015 Nuclear Deal

Boeing Sales to Iran at Risk as Trump Revisits 2015 Nuclear Deal

The Trump administration is considering blocking planned sales by Boeing Co., Airbus SE and General Electric Co. to Iran, as the president reconsiders the 2015 deal to curb the Islamic Republic’s
Ramaphosa Said to Be Ahead in Tight Race to Lead ANC

Ramaphosa Said to Be Ahead in Tight Race to Lead ANC

The top-decision making structure of South Africa’s ruling African National Congress will hold a special meeting following three court rulings which likely disqualified more than 100 delegates who