The Federal Communications Commission’s auction of television airwaves is wrapping up after attracting about $18.2 billion in bids, far less than the last sale of government licenses amid weaker demand.
Hanjin Shipping Co. won U.S. bankruptcy court approval for a hotly contested sale of the shipper’s stake in a Long Beach, Calif., container terminal operator, after a judge overruled objections from a group of U.S. creditors.
President Barack Obama took office in the middle of a financial crisis with Corporate America hemorrhaging jobs. He leaves with stocks near record highs and 75 straight months of job creation. Yet his economic legacy is marred by a long run of slow wage growth, low worker productivity and the slowest economic expansion in post-World War II history.
Wilbur Ross, the billionaire investor tapped by President-elect Donald Trump to serve as his commerce secretary, on Wednesday took the incoming administration’s tough-on-China trade talk to Capitol Hill.