NOMINEE SUPPORTS KEY FED GOALS

» Richard WASHINGTON

Clarida, President Donald Trump’s nominee for the No. 2 post at the Federal Reserve, pledged support Tuesday for the Fed’s twin goals of stabilizing inflation and maximizing employment while also declaring the importance of the central bank’s independence.

Clarida, an economics professor at Columbia University who is among the nation’s leading experts on monetary policy, is the latest of several Trump selections to the Fed’s board. In filling those key slots, the president has been gradually putting his personal stamp on the Fed.

Along with Michelle Bowman, another Trump nominee to the sevenmember board, Clarida received generally favorable reviews during a confirmation hearing before the Senate Banking Committee. Both are expected to win approval, although some committee Democrats questioned their commitment to tough oversight of the nation’s banks.

Uber shifts policy for alleged sexual misconduct on service.

SAN FRANCISCO»

Uber’s ride-hailing service will give its U.S. passengers and drivers more leeway to pursue claims of sexual misconduct, its latest attempt to shed its reputation for brushing aside bad behavior.

The shift announced Tuesday will allow riders and drivers to file allegations of rape, sexual assault and harassment in courts and mediation, rather than being locked into an arbitration hearing. The San Francisco company is also scrapping a policy requiring all settlements of sexual misconduct to be kept confidential, giving victims the choice of whether they want to make their allegations public.

Mexico acknowledges banks were hacked.

» Mexico established a one-day waiting period on electronic money transfers of over $2,500 in the wake of a hacking attack that may have taken as much as $20 million from several Mexican banks.

It was the latest in a string of embarrassments for the Mexican banking system, which has seen slowdowns in e-payment, debit card transactions and transfers since late April.

The head of the country’s central bank, Alejandro Diaz de Leon acknowledged late Monday that a “cyberattack” was involved in shadowy transfers of between $18 million and $20 million.

Trade body: EU still providing illegal subsidies to Airbus.

GENEVA

» A World Trade Organization panel ruled Tuesday that the European Union continues to provide illegal subsidies to plane-maker Airbus, the latest in a string of tussles between the European manufacturer and U.S. rival Boeing.

The decision by the WTO’s appellate body comes as the Trump administration has exerted intense pressure on the Geneva-based organization over what the president alleges is its “unfair” treatment of the U.S.

The appellate body maintained an earlier WTO ruling that EU “launch aid” provided to Airbus had resulted in lost sales for Boeing in the twin-aisle and very-large aircraft markets. The ruling, which rejected some U.S. claims, was a relative U.S. victory on the question of EU aid for two aircraft. — Denver Post wire services