Sweeping changes to U.S. tax law led to a $6.53 billion loss at Fannie Mae last quarter, putting the government-controlled mortgage company in the position of seeking cash assistance from taxpayers for the first time since it emerged from the housing crisis six years ago. Fannie Mae said Wednesday its net worth sank to a negative $3.7 billion after it had to “remeasure” its deferred tax assets to the tune of $9.9 billion as required by the Tax Cuts and Jobs Act, signed into law by President Donald Trump just before the end of the year.
Trump shows willingness to boost fuel taxes: President Donald Trump on Wednesday signaled his openness to a 25-cent fuel tax increase to help pay for his infrastructure proposal. Sen. Tom Carper, D-Del., said Trump told lawmakers in a White House meeting he would be willing to provide leadership on such an increase.
Two women claim Steve Wynn sexually assaulted them in 1970s: Two women have come forward saying casino mogul Steve Wynn sexually assaulted them in the 1970s. Las Vegas police said Tuesday the women filed reports in the past two weeks. One woman reported Wynn assaulted her in Las Vegas and the other said she was assaulted in Chicago. The Las Vegas case will not be investigated because the statute of limitations in Nevada is 20 years.
Sam’s Club to offer some free shipping: Sam’s Club is offering free shipping for premium members and simplifying its membership tiers. The Walmart-owned warehouse club will give free shipping on online orders for Plus members on 95 percent of the items it sells.
— Associated Press
Free shipping and faster delivery have been key areas as retailers try to adapt to shoppers’ shift online. The company is also converting its three membership plans into two types.