Business Briefs – October 26, 2017

Trump Names Treasury Official to Be Acting IRS Commissioner

WASHINGTON (AP) – The White House is naming a Treasury official to serve as acting commissioner of the Internal Revenue Service. David Kautter will succeed an IRS commissioner who has drawn the ire of congressional Republicans. The White House says Kautter will be acting IRS commissioner effective Nov. 13, allowing IRS Commissioner John Koskinen to complete his five-year term. Some congressional Republicans accused Koskinen of abusing the public trust and lying to Congress.

Twitter to Ban Ads From Russia’s RT, Sputnik

NEW YORK (AP) – Twitter says it will ban ads from RT and Sputnik, two state-sponsored Russian news outlets that the U.S. intelligence community has said tried to interfere with the 2016 U.S. presidential election. The San Francisco company also plans to donate proceeds from RT and Sputnik ads to support outside research on Twitter use in civic engagement and elections.

UPS Predicts Record Holiday Deliveries, Defends Price Hike

DALLAS (AP) — UPS expects another record year-end season, with deliveries up 5 percent over last year, as online shopping continues to grow. The company said Thursday that it expects to deliver more than 750 million packages between Thanksgiving and Dec. 31. It expects to haul at least 30 million packages on 17 of the last 21 delivery days before Dec. 25.

Trump Signs $36.5 Billion Emergency Aid Bill for Disasters

WASHINGTON (AP) – President Donald Trump signed a $36.5 billion emergency aid measure on Thursday to refill disaster accounts, provide a cash infusion to Puerto Rico and bail out the federal flood insurance program.

The president signed the bill after the Senate sent him the measure earlier this week to help Florida, Texas and Puerto Rico after a devastating string of hurricanes. The funding will also bolster Western states dealing with massive wildfires.

To date, Congress has approved more than $50 billion in disaster aid this fall but more money will be needed.

The measure provides $18.7 billion to replenish the Federal Emergency Management Agency’s accounts, and $16 billion to allow the flood insurance program to keep paying claims.