Alex Acosta quits as the Jeffrey Epstein case intensifies

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VIEW IN BROWSER | SUBSCRIBE FRI, JUL 12, 2019 CNBC POLITICS EDITOR'S NOTE Hello readers,   Happy Friday.   The Jeffrey Epstein sex-trafficking case rattled Washington all week. On Friday morning, it hit a new flash point with the stunning resignation of Labor Secretary Alex Acosta,  who oversaw a non-prosecution deal with the wealthy financier over a decade ago. Standing beside President Trump outside the White House, Acosta said he was quitting because the scandal had become too big a distraction for the administration.   But the Labor Department might not be free of scandal just yet.  Patrick Pizzella, the man appointed to replace Acosta on an acting basis, is under scrutiny for his work with disgraced lobbyist Jack Abramoff  two decades ago. One advocacy group accused Pizzella of lobbying for policies that "essentially allowed for unchecked slave labor." Tucker Higgins has the details.   On the global stage, France took aim at U.S. tech giants such as Facebook and Google with a 3% tax. Jacob Pramuk explains how Trump could respond with tariffs potentially aimed at French goods such as wine. Such a move might give the president another weapon in his political arsenal as he looks to shore up base support ahead of the 2020 election.   Thanks for reading, and have a great weekend.   Have friends or colleagues who might like this newsletter? They can sign up here.   Join CNBC Events next Tuesday 7/16 in Chicago for the @Work Human Capital + Finance Summit. Steve Liesman will sit down with Chicago Fed President Charles Evans, and leaders from IBM, Snap-On, Delta and Adobe will talk about what the future of work means for your bottom line. Visit cnbcevents.com/work-capital-finance for tickets. Mike Calia @Michael_Calia KEY STORIES  Labor Secretary Alex Acosta resigns amid pressure from Jeffrey Epstein sex traffic case Acosta made the announcement to reporters while standing next to President Donald Trump, less than a week after wealthy businessman Jeffrey Epstein was arrested on new charges of sex trafficking. How Trump could use tariffs to fight back against France's tax on US technology giants Trump is most likely to put steep tariffs on French wine in response to France's digital tax that will affect Facebook and Google. Incoming acting Labor secretary under scrutiny for work with disgraced lobbyist Jack Abramoff Incoming acting Labor Secretary Patrick Pizzella will take the helm of the department after the resignation Friday of Alex Acosta, who faced scrutiny over his role in prosecuting alleged sex trafficker Jeffrey Epstein more than a decade ago. Treasury could run out of cash in early September The Treasury Department said it could run out of cash in two months, asking Congress to increase the debt ceiling before lawmakers leave for a six-week recess. Jeffrey Epstein used $46 million charitable donation to keep alive his ties with billionaire Les Wexner Wealthy financier and accused child molester Jeffrey Epstein had a complicated relationship with billionaire and L Brands Chairman Les Wexner. It included a $46 million transaction between their foundations and a breakup.       Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS