White House Government Agencies

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  • April 8- Wells Fargo& Co has formally reached a $1.2 billion settlement to end a U.S. Department of Justice lawsuit accusing it of knowingly deceiving the federal government into insuring thousands of risky mortgages. The accord was filed on Friday in Manhattan federal court. It also resolves claims against Kurt Lofrano, a former Wells Fargo vice president.

  • *Crude oil rally lifts energy shares. April 8- A sharp rally in crude oil and energy shares lifted U.S. stocks on Friday, but indexes registered losses for the week and investors were cautious ahead of earnings season. Investors took their cue again from the oil market and the Federal Reserve, but focus will shift next week to expectedly weak quarterly reports, said...

  • April 8- The U.S. Food and Drug Administration on Friday moved to revoke approval of a drug used to treat certain conditions in pigs because it could leave a cancerous residue that may affect human health. Dave Warner, a spokesman for the Pork Producers Council, which represents the pork industry, said it is reviewing the implications of the FDA move but will let the...

  • In a letter filed in federal court in Brooklyn, New York, the Justice Department said "the government continues to require Apple's assistance in accessing the data that it is authorized to search by warrant." The letter came a day after Federal Bureau of Investigation Director James Comey said the agency's secret method for unlocking an iPhone 5 c used by one of...

  • WASHINGTON, April 8- The chairman of the U.S. Federal Communications Commission is proposing to reform the estimated $25 billion a year market for high-capacity data and voice connections, known as special access lines, to businesses. FCC chairman Tom Wheeler on Friday said he was proposing a new "regulatory framework" barring some contractual practices by...

  • A panel of outside advisers to the FDA is scheduled to vote on the drug on Tuesday. The experts will discuss whether the drug's benefits outweigh risks, and vote if data from an ongoing late-stage study should be submitted before FDA makes its decision. FDA staff reviewers on Friday recommended that rociletinib carry a black box warning, the strongest warning...

  • WASHINGTON, April 8- Net capital outflows from emerging markets will ease somewhat in 2016, but could increase again if China abruptly devalues its currency or the U.S. Federal Reserve raises interest rates more quickly than expected, the Institute of International Finance said on Friday. The IIF, a global banking group, forecasts that 2016 emerging market net...

  • BRIDGEPORT, Conn., April 8- The Federal Reserve must approach further rate hikes cautiously and gradually because of lingering external risks to the U.S. economy, despite some strength at home and welcome hints of inflation, an influential Fed official said on Friday. In a speech that carefully weighed overseas threats against expectations of further domestic...

  • The reviewers also recommended that rociletinib carry a black box warning, the strongest warning imposed by the FDA, of increased heart risk on its label. The FDA staff raised concerns whether the effect of the pill would translate into a clinical benefit, and if that was superior to existing drugs. Clovis, which is seeking an accelerated approval for...

  • April 8- Staff reviewers from the U.S. Food and Drug Administration on Friday questioned if Clovis Oncology Inc's lung cancer drug was more effective than available treatments. The reviewers also recommended including a black box warning, the FDA's strictest warning, in the drug's label. Rociletinib, which is very similar to an AstraZeneca Plc drug already on...

  • LONDON, April 8- Gold fell on Friday as strength in equities prompted investors to cash in some of the previous day's gains, but remained on track for its biggest weekly rise in five as the Federal Reserve stayed cautious on U.S. rate hikes. Spot gold was down 0.4 percent at $1,236.00 an ounce at 0937 GMT, while U.S. gold futures for June delivery were flat at $1,237.50...

  • April 7- The Federal Reserve could stoke financial instability and set the stage for a recession if it waits too long to raise interest rates further, Kansas City Fed President Esther George said on Thursday. George said the Fed was tempting fate by keeping monetary policy exceptionally loose when the job market appears to be near full strength and inflation is...

  • April 7- The U. S Food and Drug Administration approved Abiomed Inc's heart pump to treat patients who suffer cardiac shock after heart attack or heart surgery, sending its shares up about 4 percent in extended trading. On an average, only about 7 percent of people who have heart attacks develop the condition, according to the National Institutes of Health.

  • April 7- An advisory panel to the U.S. Food and Drug Administration on Thursday unanimously backed the accelerated approval of Intercept Pharmaceuticals Inc's drug to treat a rare liver condition. "If approved, we project launch in July and gross peak annual worldwide sales could reach about $2.2 billion," Wedbush Securities analyst Liana Moussatos said in a...

  • NEW YORK, April 7- Short-term U.S. interest rate futures rose on Thursday on worries about slowing economic growth and a selloff on Wall Street, suggesting traders see diminishing chances the Federal Reserve would raise interest rates in 2016.. In a Reuters poll on April 1, 10 of the 16 top Wall Street firms surveyed said the Fed would lift its fed funds target...

  • April 7- An advisory panel to the U.S. Food and Drug Administration on Thursday unanimously backed the accelerated approval of Intercept Pharmaceuticals Inc's drug to treat a rare liver condition.

  • NEW YORK, April 7- U.S. Oil slipped around 1 percent and Wall Street stocks were down 1.5 percent. Federal Open Market Committee meeting released Wednesday at 2 p.m. highlighted concerns about the Federal Reserve's limited ability to tackle a global economic slowdown, reducing the odds of a rate increase this year.

  • DEPARTMENT OF DEFENSE ASKS RAIL REGULATOR TO RULE ON CP VOTING TRUST PROPOSAL IN A WAY "THAT DOES NOT PERMIT DE FACTO COMMON CONTROL TO OCCUR".

  • DEPARTMENT OF DEFENSE SAYS THAT MAKING CP CEO HUNTER HARRISON THE CEO OF NORFOLK SOUTHERN AS PART OF VOTING TRUST "COULD PROVE TO BE UNTENABLE" DUE TO "THE APPEARANCE OF COMMON CONTROL".

  • DEPARTMENT OF DEFENSE SAYS "POTENTIAL CERTAINLY EXISTS" FOR A CP MERGER WITH NORFOLK SOUTHERN TO "ADVERSELY AFFECT NATIONAL DEFENSE".