Wednesday October 17, 2018
Home Politics President-Ele...

President-Elect Donald Trump wants Billionaire Investor Wilbur Ross as Commerce Secretary

Ross, 78, is famed for restructuring failed companies, and he is also a trusted economic adviser to Team Trump

0
//
163
FILE - In this Sept. 24, 2015, file photo, Republican presidential candidate Donald Trump waves to the crowd gathered in front of Trump Tower ahead of the arrival of the pope's motorcade for an appearance in New York's Central Park. Trump holds a trademark to use the words “Central Park” on items including furniture, chandeliers and even key chains. Records show his first application came in 1991, when the city’s crime rate was near its height and the park had a less-than-glamorous reputation. (AP Photo/Kevin Hagen, File). VOA
Republish
Reprint

Washington, Nov 16, 2016: US President-elect Donald Trump wants to name billionaire investor Wilbur Ross as Commerce Secretary.

Ross, 78, is famed for restructuring failed companies, and he is also a trusted economic adviser to Team Trump.

New York investor Carl Icahn appeared to confirm the news on Tuesday that his fat cat pal is the leading candidate for the job, New York Post reported.

NewsGram brings to you current foreign news from all over the world.

“Spoke to @realDonaldTrump. Steve Mnuchin and Wilbur Ross are being considered for Treasury and Commerce. Both would be great choices,” Icahn tweeted.

“Both are good friends of mine but, more importantly, they are two of the smartest people I know,” he added.

Mnuchin, a veteran Wall Street insider and Goldman Sachs vet, was the finance chair of Trump’s campaign.

NewsGram brings to you top news around the world today.

In August, Ross agreed to reimburse investors $11.8 million and pay a fine of $2.3 million to settle a Securities and Exchange Commission probe into the company’s misappropriation of fees.

Investors in W.L. Ross’ fund were wrongly assessed the fees from 2001-2011, the SEC found.

Ross was, according to its fund agreements, supposed to take 50 per cent of the fees it charged its companies and give it to fund investors to offset their fund management fees, but did not do so, the SEC found.

Ross did not admit any liability. It had self-reported the issue to the SEC. (IANS)

Click here for reuse options!
Copyright 2016 NewsGram

Next Story

Aadhaar Helpline Mystery: French Security Expert Tweets of doing a Full Disclosure Tomorrow about Code of the Google SetUP Wizard App

0
cryptocurrency. google
Pichai met with senior Republicans on Friday to discuss their concerns, House Majority Leader Kevin McCarthy said. Wikimedia Commons

Google’s admission that it had in 2014 inadvertently coded the 112 distress number and the UIDAI helpline number into its setup wizard for Android devices triggered another controversy on Saturday as India’s telecom regulator had only recommended the use of 112 as an emergency number in April 2015.

After a large section of smartphone users in India saw a toll-free helpline number of UIDAI saved in their phone-books by default, Google issued a statement, saying its “internal review revealed that in 2014, the then UIDAI helpline number and the 112 distress helpline number were inadvertently coded into the SetUp wizard of the Android release given to OEMs for use in India and has remained there since”.

Aadhaar Helpline Number Mystery: French security expert tweets of doing a full disclosure tomorrow about Code of the Google SetUP Wizard App, Image: Wikimedia Commons.

However, the Telecom Regulatory Authority of India (TRAI) recommended only in April 2015 that the number 112 be adopted as the single emergency number for the country.

According to Google, “since the numbers get listed on a user’s contact list, these get  transferred accordingly to the contacts on any new device”.

Google was yet to comment on the new development.

Meanwhile, French security expert that goes by the name of Elliot Alderson and has been at the core of the entire Aadhaar controversy, tweeted on Saturday: “I just found something interesting. I will probably do full disclosure tomorrow”.

“I’m digging into the code of the @Google SetupWizard app and I found that”.

“As far as I can see this object is not used in the current code, so there is no implications. This is just a poor coding practice in term of security,” he further tweeted.

On Friday, both the Unique Identification Authority of India (UIDAI) as well as the telecom operators washed their hand of the issue.

While the telecom industry denied any role in the strange incident, the UIDAI said that he strange incident, the UIDAI said that some vested interests were trying to create “unwarranted confusion” in the public and clarified that it had not asked any manufacturer or telecom service provider to provide any such facility.

Twitter was abuzz with the new development after a huge uproar due to Telecom Regulatory Authority of India (TRAI) Chairman R.S. Sharma’s open Aadhaar challenge to critics and hackers.

Ethical hackers exposed at least 14 personal details of the TRAI Chairman, including mobile numbers, home address, date of birth, PAN number and voter ID among others. (IANS)

Also Read: Why India Is Still Nowhere Near Securing Its Citizens’ Data?