Exclusive: Center for American Progress takes aim at Trump’s Wall Street-friendly rules

WASHINGTON: Washington's leading liberal think tank, which for years has shaped Democratic financial, economic and social policies, has begun drawing up a list of Wall Street-friendly rules that could be swiftly repealed if the party wins big in the election. The list from the Center for American Progress (CAP), shared exclusively with Reuters, offers the first glimpse at which of the financial rules by President Donald Trump's administration could be first on the chopping block if Democrats take the White House and the U.S. Senate on Nov. 3. Advertisement Advertisement They include rules that eased speculative bank investments, reduced swap capital cushions, and overhauled fair lending regulation, all of which, if reversed, could cost the financial industry tens of billions of dollars. According to CAP's analysis, these could be swiftly axed via the Congressional Review Act (CRA), a 1996 law that allows Congress to reverse new federal rules with a simple majority...


Illumina to pay US$7.1 billion for cancer test developer Grail: WSJ

Business Gene sequencing company Illumina Inc will pay US$7.1 billion in cash and stock to buy cancer test startup Grail Inc, the Wall Street Journal reported on Monday, citing people familiar with the matter. FILE PHOTO: A new office building housing genetic research company Illumina is shown in San Diego, California, U.S., May 30, 2018. REUTERS/Mike Blake 21 Sep 2020 07:00PM (Updated: 21 Sep 2020 07:35PM) Share this content Bookmark REUTERS: Gene sequencing company Illumina Inc will pay US$8 billion in cash and stock to buy cancer screening startup Grail Inc, the companies said on Monday. Grail, which is developing a blood test to identify early-stage cancers, was founded by Illumina as a separate company in 2016 and is backed by Inc founder Jeff Bezos and billionaire philanthropist Bill Gates. Advertisement Advertisement The deal would give Illumina access to Grail's test for early detection of cancer from blood called Galleri, which is expected to launch ..

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