The tax overhaul backed by the Trump administration might take away the tax break for carried interest from hedge funds but let businesses that create jobs continue benefiting from it, Treasury Secretary Steven Mnuchin said. "What we are focused on is there are many other types of funds that do create jobs, and we want to make sure we don't discourage investment," he said. Bloomberg (21 Aug.)
The UK Department for Exiting the European Union issued a position paper Tuesday clarifying its stance on civil judicial issues, which would apply to financial contracts. One key point from the paper is the call for pre-Brexit contracts to be enforced by EU rules after the UK withdraws from the bloc. Politico Pro (subscription required) (22 Aug.)
Google and Walmart will work together to compete with Amazon. Walmart products will be offered on Google Express, the first time Walmart sells to US consumers online away from its website. The New York Times (free-article access for SmartBrief readers) (23 Aug.)
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