Obama orders crackdown on contractors dodging taxes
President Obama signs an executive order directing federal agencies to bar nonpayers from new contracts and enlists the IRS to audit contractor tax filings. Officials say the measures curb waste and abuse in government contracting and could save billions, with GAO estimates of over 5 billion dollars in unpaid taxes by firms winning contracts.
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Washington, D.C
Barack Obama
Obama
IRS
Government Accountability Office
United States
Construction Falls as Wholesale Prices Rise
Data show December home construction dropping 4 percent to a 557000 annual rate, under forecasts, amid weather and financing worries. Permits rose 11 percent to 653000, the strongest since October 2008, signaling activity ahead for spring. Wholesale prices gained 0.2 percent due to higher food costs despite lower energy prices, easing inflation fears.
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Washington, D.C
Commerce Department
Thomson Reuters
Northeast
Midwest
David Crowe
National Association of Home Builders
Crowe
Labor Department
Wells Fargo Posts Surprise 394 Million Fourth Quarter Profit
Wells Fargo & Co reports a 394 million profit for the fourth quarter. The bank flags lending portfolio risks and a potential downturn, but anticipates a brighter 2010 as credit metrics improve. Analysts remain cautious on timing of a recovery. The New York Times plans metered online access starting in 2011, charging after a free article threshold while preserving free access for print subscribers.
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New York
Wells Fargo & Co
Jpmorgan Chase & Co
Citigroup Inc
Wells Fargo
Mike Loughlin
Adam Barkstrom
Sterne Agee
the Times
New York Times Co
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