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Obama names Chicago tycoon as commerce chief

US President Barack Obama (L) announces his nominee for Secretary of Commerce, Penny Pritzker, during an event in the Rose Garden of the White House in Washington, DC, on May 2, 2013.US President Barack Obama on Thursday nominated billionaire Hyatt hotels heiress and major Democratic campaign contributor Penny Pritzker as his new commerce secretary. Filling out his second term economics team, Obama also named Michael Froman, currently his top advisor on international economics, to be US Trade Representative, as his administration tries to boost US exports.