Business Briefs – February 13, 2017

Sears and Kmart Remove Some Trump Products Online

NEW YORK (AP) — Sears and Kmart have evicted some Trump-branded items from their online stores, but say hundreds of branded items are still available through its third-party online marketplace. The company wouldn’t specify how many Donald Trump or Ivanka Trump items it removed. It’s another sign of how companies are trying to tread a careful line, after the president rebuked Nordstrom publicly for deciding to stop selling his daughter’s clothing and accessories line.

Janet Yellen Faces Congress At Time Of Haziness Over Pres. Trump’s Plans

WASHINGTON (AP) — The frenetic first three weeks of Donald Trump’s presidency have left political leaders divided and dizzy with uncertainty over what happens next. This week, it will be Federal Reserve Chair Janet Yellen’s turn to weigh in — if she chooses to — on how the economy could fare in the early months of Mr. Trump’s administration.

Former Spain Central Bank Chief Investigated For Failed IPO

MADRID (AP) — Spain’s National Court is summoning the former heads of Spain’s central bank and the stock market watchdog to be questioned for failing to stop the disastrous flotation of a savings bank that had to be bailed out. Eight officials, including former Bank of Spain Governor Miguel Angel Fernandez Ordonez, allegedly failed to stop Bankia’s listing in 2011 despite “repeated warnings” the bank was “unviable,” according to an investigation led by the court’s magistrates.

EU Forecasts British Economic Slowdown During Brexit Talks

BRUSSELS (AP) — The European Union is down on British economic forecasts in the wake of the Brexit decision while it paints a more optimistic picture of the whole of the bloc the next two years. In its 2017 Winter Economic Forecast, the EU says that for Britain, “economic growth is projected to moderate in 2017 and weaken further in 2018.”

Lawmakers Question Pricing Of Drug For Genetic Disease

WASHINGTON (AP) — Two congressional lawmakers are asking Marathon Pharmaceuticals for information related to its pricing of a drug to treat genetic muscle deterioration in about 15,000 Americans. Sen. Bernie Sanders of Vermont and congressman Elijah Cummings of Maryland say that Marathon Pharmaceuticals plans to charge $89,000 a year for a drug that’s widely available abroad for about $1,000 a year. The company hasn’t responded to their criticism.