White House Government Agencies

  • Sept 28- Vertex Pharamceuticals Inc said the U.S. Food and Drug Administration expanded the use of its cystic fibrosis drug to treat a new subgroup of patients with the rare genetic disorder. The company said it now expects Orkambi revenue of $950 million to $990 million, down from $1.0 billion to $1.1 billion it had previously forecast. The FDA approved the use of...

  • ST. LOUIS, Sept 28- Investors may be expecting a U.S. interest rate increase in December, but Federal Reserve policymakers remain divided over whether the economy is mired in a rut, strong enough to withstand an immediate hike or hovering somewhere in between. "The low interest rate environment is not just a U.S. phenomenon, or simply a situation engineered by...

  • CLEVELAND, Sept 28- The U.S. Federal Reserve should take another step in removing monetary policy accommodation because not doing so risks overheating the economy which in turn could cause a recession, Cleveland Fed President Loretta Mester said on Wednesday. "If we continue to delay even as we make further progress on our inflation goal and labor markets...

  • ST. LOUIS, Sept 28- Investors may be expecting a U.S. interest rate increase in December, but Federal Reserve policymakers remain divided over whether the economy is mired in a rut, strong enough to withstand an immediate hike or hovering somewhere in between. "The low interest rate environment is not just a U.S. phenomenon, or simply a situation engineered by...

  • WASHINGTON— Federal regulators have approved a first-of-a-kind "artificial pancreas," a device that can help some diabetes patients manage their disease by constantly monitoring their blood sugar and delivering insulin as needed. The device from Medtronic was approved Wednesday for patients with Type 1 diabetes, the kind usually diagnosed during...

  • Sept 28- The U.S. Food and Drug Administration on Wednesday approved Medtronic Plc's "artificial pancreas" designed to automatically deliver the right dose of insulin to patients with type 1 diabetes. Jeffrey Shuren, director of the FDA's medical device division said in a statement. "This device will mean peace of mind, in knowing a person will be in normal blood...

  • PARIS— Volkswagen CEO Matthias Mueller says the company is cooperating with U.S. authorities and hopes to reach a settlement on a fine with the Justice Department for equipping diesel vehicles to cheat on emissions tests. Mueller said the company admits it "made a big mistake" and that "we have worked on a very cooperative basis with the authorities in Germany,...

  • ST. LOUIS, Sept 28- Weak growth, an aging workforce and poor productivity may leave the U.S. economy stuck with low interest rates for years to come, and the Federal Reserve struggling to reach its inflation target, Chicago Fed President Charles Evans said on Wednesday. As some in the financial industry press for higher interest rates to improve their lending...

  • WASHINGTON, Sept 28- Federal Reserve Chair Janet Yellen was thrust into the election-year boxing ring during a congressional committee hearing on Wednesday, defending the central bank's regulatory role, taking and landing punches on Wells Fargo and other banks considered too big to fail, and addressing accusations of political conflicts of interest.

  • *Fed Chair Yellen testifies before Congressional committee. Sept 28- Wall Street was lower on Wednesday as health stocks weighed and financials fell after Federal Reserve Chair Janet Yellen said the central bank was considering changes to the annual stress test. Adding to the downbeat market sentiment was the lowering of the 2016 U.S. growth forecast by the...

  • WASHINGTON, Sept 28- Federal Reserve Chair Janet Yellen denied on Wednesday accusations by a Republican lawmaker that she let politics influence interest rate policy, saying she was unaware of any contact between a top Fed policymaker and Democratic presidential candidate Hillary Clinton. In a House of Representatives committee hearing, Representative...

  • NEW YORK, Sept 28- U.S. stock prices slipped on Wednesday after comments from Federal Reserve Chair Janet Yellen raised concerns about increased banking regulations, while oil prices rose in choppy trading amid hopes of an output agreement and data showing a bigger-than-expected increase in U.S. gasoline inventories. The dollar rose against the euro as...

  • WASHINGTON, Sept 28- The Federal Reserve is considering changes to the annual stress tests it gives U.S. banks to move to a more risk-sensitive, firm-specific approach that would raise capital requirements for big banks based on their test results, according to its chair, Janet Yellen. Testifying at a House of Representatives Financial Services Committee...

  • *Traders watching Algiers oil producers' meeting. LONDON, Sept 28- Gold prices hit a one-week low on Wednesday, as the dollar firmed and investors assessed Federal Reserve Chair Janet Yellen's testimony before a Congressional committee. Gold's next technical support level stands at $1,320, while the closest resistance is $1,350, MKS SA head of trading Afshin...

  • WASHINGTON, Sept 28- The Federal Reserve is considering changing the annual stress tests it gives to U.S. banks to see if they can withstand a massive financial crisis, and also using test results to set the capital buffers that banks must maintain to blunt the effects of a downturn, according to its chair, Janet Yellen. In prepared testimony for a House of...

  • Bank consultants say tens of millions of dollars are spent each year on initiatives to build a culture of integrity, partly at the urging of regulators such as the Federal Reserve Bank of New York and the U.S. Office of the Comptroller of the Currency. Wells Fargo's debacle- involving the creation of as many as 2 million accounts without customers' permission- is...

  • Sept 28- Wall Street was set to open little changed on Wednesday as investors awaited Federal Reserve Chair Janet Yellen's testimony before a Congressional committee. Five Fed officials from various states are also scheduled to speak at separate events, including voting members Esther George, James Bullard and Loretta Mester. "I don't expect a major shift in...

  • Republican presidential candidate Donald Trump speaks at a rally Tuesday, Sept. 27, 2016, in Melbourne, Fla.

    Donald Trump, all day Tuesday, maintained he won a debate that most pundits, and many polls, said he lost.

  • *Oil up on U.S. inventories data, eyes on Algiers talks. LONDON, Sept 28- A recovery in Deutsche Bank shares helped push European stocks higher on Wednesday, easing concerns over Germany's financial sector that had hit equities in Asia and drove investors into safe-haven government bonds and the dollar. Federal Reserve Chair Janet Yellen and European Central...

  • Sept 28- U.S. stock index futures were little changed on Wednesday as investors awaited Federal Reserve Chair Janet Yellen's testimony before a Congressional Committee. *Fed presidents and voting members Esther George, James Bullard and Loretta Mester are among the five officials scheduled to speak at separate events through the day. The report is due at...