The daily business briefing: November 6, 2017

Leak reveals commerce secretary's ties to Putin allies, Republicans discuss scrapping ObamaCare mandate with tax bill, and more

Paul Ryan looks at President Trump
(Image credit: Drew Angerer/Getty Images)

1. 'Paradise Papers' reveal ties between commerce secretary and Putin allies

A trove of more than 13.4 million documents, the "Paradise Papers," has leaked from the Bermuda law firm Appleby, a year after the Panama Papers exposed how many wealthy individuals and corporations have hidden money in offshore tax havens. Appleby helps big corporations and super wealthy individuals hide ownership of assets from yachts to companies. The Paradise Papers, like the Panama Papers, were obtained by the German newspaper Süddeutsche Zeitung and analyzed by the International Consortium of Investigative Journalists. Among the revelations: After joining the Trump administration, Commerce Secretary Wilbur Ross retained investments in Navigator Holdings, a shipping firm he once controlled that has ties to a relative of Russian President Vladimir Putin and a Russian oligarch facing U.S. sanctions.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.