Michael Flynn will reportedly testify that President Trump instructed him to make contact with Russians during the 2016 presidential campaign, ABC News reported on Friday. "[Flynn] is prepared to testify ... against President Trump, against members of the Trump family, and others in the White House," Brian Ross reported. He added that Flynn's testimony, as such, would "contradict all that President Trump has said up to this moment." Flynn, Trump's former national-security adviser, pleaded guilty Friday to charges that he misled the FBI during a January 2017 interview.
More than half of North American CNBC Global CFO Council members welcome the GOP tax reform plan, but only one-third think it will lead to higher worker wages.
The CNBC Global CFO Council represents some of the largest public and private companies in the world, collectively managing more than $4 trillion in market capitalization across a wide variety of sectors.
While the GOP plan to lower corporate tax rates to 20 percent remains under debate, less than half of North American council members expect their effective tax rate to be lower in 2018.
Special counsel Robert Mueller has charged former Trump national security adviser Michael Flynn with "willfully and knowingly" making "false, fictitious and fraudulent statements" to the FBI regarding conversations with Russia's ambassador.
Flynn is the first Trump administration official and the fourth connected to the campaign to be charged as part of Mueller's investigation into possible collusion between the Russian government and members of Trump's team, as well as potential obstruction of justice and financial crimes. read more
Federal Judge Peter J. Messitte has just ruled in favor of two attorney generals seeking to subpoena the Trump organization relating to President Trump unlawfully receiving emoluments from foreign and domestic governments.
D.C. Attorney General Karl A. Racine and Maryland Attorney General Brian E. Frosh can now subpoena the Trump organization, thereby forcing them to preserve documents in relation to President Trump's alleged indiscretions.
The case advances a very high-profile attempt to see if President Trump is violating the emoluments clause of the U.S. Constitution, which precludes him from receiving gifts from foreign or state governments. The Trump Organization will be compelled to comply with the court's ruling. read more
A string of corporate giants have said that they would give back to shareholders any gains they make from corporate tax cuts proposed in the GOP's tax plan, Bloomberg News reported, undercutting Republican claims that the revenues will quickly trickle down to workers.
The comments from company executives -- including those at Cisco Systems Inc., Pfizer Inc. and Coca-Cola Co. -- come after the White House released a paper last month arguing that a corporate tax cut would boost wages.
The chief executive of Amgen Inc. said in an October call that the company is "actively returning capital in the form of growing dividend and buyback." read more