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Tim Devaney

tdevaney@washingtontimes.com

Tim Devaney was a national reporter who covered business and international trade for The Washington Times.

Articles by Tim Devaney

Michael Froman (left), President Obama's pick to be the nation's top trade negotiator, has said he has about $500,000 in Cayman Islands bank accounts. (Associated Press)

Cayman Islands bankers defend rules ahead of trade nominee vote

A day before President Obama's pick to be the nation's top trade negotiator faces a Senate committee vote, Cayman Islands officials defended their banking system and the kinds of offshore investments that have gotten the trade nominee into some hot water on the road to confirmation.

June 10, 2013
**FILE** President Obama speaks on May 2, 2013, in the Rose Garden of the White House in Washington, where he announced he will nominate Penny Pritzker (right) as secretary of commerce and Michael Froman (left) as U.S. trade representative. (Associated Press)

Trade pick presses for ‘fast-track’ authority for new deals

President Obama's pick to be his top trade adviser told lawmakers Thursday that he would push for Congress to restore the administration's "fast-track" authority to negotiate free-trade pacts, as the administration gears up for major market-opening talks with the European Union and with Asia-Pacific nations.

June 6, 2013
**FILE** A line of 2012 Chevrolet Cruze sedans sits Feb. 19, 2012, at a dealership in the south Denver suburb of Englewood, Colo. (Associated Press)

Feds announce big sale of GM bailout shares

The U.S. government is taking advantage of General Motors' return to the S&P 500 index and recent rising stock prices to sell off another 30 million shares in the nation's No. 1 car manufacturer that it acquired in the auto bailout, the Obama administration announced Wednesday.

June 5, 2013
Protesters light flares and shout slogans during a protest at Taksim Square in Istanbul, on Tuesday. Thousands have joined anti-government rallies across since Friday, when police launched a pre-dawn raid against a sit-in protesting plans to uproot trees in the square. Since then, the demonstrations have spiraled into Turkey's biggest anti-government disturbances in years. (Associated Press)

Turkey’s financial standing at risk

Political unrest in the streets of Turkey poses a threat to the country's long-standing reputation as a financial bulwark in the otherwise chaotic Middle East, financial analysts say.

June 4, 2013

Obama urged to ‘punch’ China

A leading U.S. manufacturing group on Monday called on President Obama to take a tough line on China when he holds his first summit with new Chinese President Xi Jinping at the end of the week in California.

June 3, 2013
** FILE ** In this photo taken Tuesday, Jan 6, 2004, Chinese men share a newspaper outside a Bank of China branch in Guangzhou, southeastern China Guangdong province. One of China's biggest banks said Tuesday, May 7, 2013, that it has halted business with the Foreign Trade Bank of North Korea. (AP Photo/Ng Han Guan)

U.S. government shows a new openness to buyers from China

From the AMC movie theater chain to the personal computer lines once owned by IBM to the country's biggest hog farmer, Chinese investment in America is on a record pace, with the ring of the cash register drowning out security concerns in a rebounding U.S. economy.

June 3, 2013
Tiffany & Co. is opening more stores, including this one in Ohio.

Luxury in demand: High-end brands find a growing customer base

As the rich get richer, demand for luxury items continues to rise. Makers of high-end products have emerged from the global recession stronger than before, thanks to a growing customer base of the wealthy and superwealthy who are more willing than ever to pay premium prices for top-of-the-line brands.

May 28, 2013
Marine Cpl. Todd Love thought his piano days were over when he lost his left arm and both legs in Afghanistan. With the help of MusiCorps, Cpl. Love got through one of the most difficult parts of his life. He now can play piano better one-handed than many amateur musicians can play with two. (MusicCorps)

When all seems lost, MusiCorps helps change the tune for wounded warriors

A roadside bomb in Afghanistan took his right eye, crushed the side of his face and left him dealing with serious brain injuries. A six-string guitar and an innovative music therapy program at the Walter Reed National Military Medical Center are playing key roles in leading him on the road to recovery.

May 26, 2013
**FILE** President Obama pauses in the State Dining Room of the White House on Jan. 24, 2013, as he announces that he will nominate Mary Joe White to lead the Security and Exchange Commission and re-nominate Richard Cordray to lead the Consumer Financial Protection Bureau, a role that he has held for the last year under a recess appointment. (Associated Press)

Chamber weighs in against Obama NLRB picks

The legal arm of the U.S. Chamber of Commerce on Thursday asked the Supreme Court to uphold a lower court ruling that invalidated President Obama's controversial recess appointments to the National Labor Relations Board.

May 23, 2013
News of Tumblr's sale to Yahoo Inc. scrolls on a Times Square ticker in New York City on Monday. Yahoo announced it will purchase Tumblr for about $1.1 billion and pledged to take a hands-off approach to the popular social media startup. (Associated Press)

Yahoo pledges ‘not to screw up’ Tumblr

Yahoo Inc. promised Monday "not to screw up" Tumblr's reputation for "cool" when it takes over — even as many of the trendy social network's 300 million users took to the site to complain about just that possibility.

May 20, 2013
**FILE** Sens. Patrick Leahy (right), Vermont Democrat and president pro tempore of the Senate, and Thad Cochran, Mississippi Republican, walk to the floor of the Senate on Capitol Hill on May 6, 2013, during a vote on legislation to collect sales tax on Internet purchases. (Associated Press)

GOP generational divide could sink Web sales tax bill: Study

Critics of Internet sales tax say that rising resistance from newer GOP lawmakers could sink a bill now before the Republican-controlled House to require online retailers such as eBay to start collecting sales taxes for the states.

May 20, 2013

Greece warns of ‘vicious cycle of inequality’ in EU

A top Greek official on Wednesday warned of a "widening gap" in the eurozone that separates financially stable countries such as Germany from their southern European partners that are struggling to keep up.

May 15, 2013

McDonald’s sales slump not a reason for concern

McDonald's can't sugarcoat its thus-far disappointing sales figures in 2013. The world's fast-food champion recently announced yet another monthly decline in sales amid growing talk in the market that diners' changing habits, shrinking profit margins and growing problems in once-promising overseas markets have tarnished the gleam of the golden arches.

May 12, 2013