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Barack Obama

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  • NEW YORK, July 13- Citigroup agreed to pay $7 billion to resolve a U.S. government investigation into shoddy mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis in a settlement set to be announced on Monday, sources said.

  • China's popular TV journalist taken by prosecutors Saturday, 12 Jul 2014 | 7:18 AM ET

    BEIJING— A top business journalist at China's state broadcaster was taken away by prosecutors, abruptly absent from his nightly newscast he was anchoring, China's financial news magazine Caixin reported Saturday.

  • Head of US pension agency resigning Friday, 11 Jul 2014 | 8:06 PM ET

    WASHINGTON— The federal agency that insures company pensions for more than 40 million Americans says its top official is resigning. Joshua Gotbaum, a former investment banker, was appointed by President Barack Obama as director of the Pension Benefit Guaranty Corp. in July 2010.

  • The SIPC is a corporate non-profit that administers a fund paid for by Wall Street to compensate investors if a brokerage firm collapses. In an unprecedented case, the SEC decided to take legal action against the fund and force SIPC to start court proceedings for victims to file claims.

  • Business Highlights Friday, 11 Jul 2014 | 5:46 PM ET

    WASHINGTON— Would-be home sellers across the country are grappling with a once-in-a-lifetime problem: They have mortgage rates so absurdly low it would hurt them financially to sell. Tobacco firms Reynolds, Lorillard in merger talks. RICHMOND, Va.— Big Tobacco may soon get smaller.

  • WASHINGTON, July 11- The White House lowered its U.S. federal deficit forecast for the 2014 fiscal year by $66 billion to $583 billion on Friday on the basis of gathering economic momentum as evidenced by gains in hiring.

  • WASHINGTON, July 11- New enrollments in Obamacare's Medicaid expansion and other healthcare programs for the poor have reached 6.7 million people since the launch of President Barack Obama's healthcare reforms last year, the administration said on Friday.

  • WASHINGTON, July 11- The U.S. Congress will ultimately support an extension of an interim agreement of talks on Iran's nuclear program, lawmakers and congressional aides said, despite calls by Republicans and some Democrats to abandon negotiations and return to tough sanctions to deter Tehran from building a nuclear bomb.

  • WASHINGTON, July 11- The U.S. House of Representatives voted 258-160 on Friday to extend permanently a business tax break dealing with deductions for depreciating certain capital investments, a move that would cost U.S. taxpayers an estimated $287 billion over 10 years.

  • White House: 2014 deficit to drop $100B Friday, 11 Jul 2014 | 3:12 PM ET

    WASHINGTON— The government's budget deficit will drop to $583 billion this year, the lowest level of President Barack Obama's tenure, the White House said Friday. The latest update from the White House budget office is also $66 billion less than the administration predicted earlier this year when releasing the president's budget.

  • But I feel like I'm changing one or two minds here or there, "said Felice Pete, a nurse anesthetist and a member of the state party's Black Advisory Board. The swing state, one of 11 where the Republican National Committee has hired staff to reach black voters, hosts one of the country's most important Senate races in November's midterm elections.

  • In a 3-2 vote, the FCC approved Chairman Tom Wheeler's proposal to phase out E-Rate spending on older technologies such as pagers, shift focus to high-speed Internet and commit $2 billion in the next two years to Wi-Fi, without raising the program's budget.

  • US records $71 billion budget surplus in June Friday, 11 Jul 2014 | 2:04 PM ET

    The Treasury Department said Friday that its June surplus totaled $71 billion, following a $130 billion deficit in May. The government also ran a surplus in June 2013, bolstered by dividends from Fannie Mae, the mortgage giant under federal conservatorship for the past six years.

  • Obama taps controversial nominee for labor board Friday, 11 Jul 2014 | 7:16 AM ET

    WASHINGTON— President Barack Obama is once again nominating lawyer Sharon Block to serve on the National Labor Relations Board, a move that could anger congressional Republicans. The Supreme Court ruled last month that the appointments were invalid.

  • Senate confirms housing chief to run budget office Friday, 11 Jul 2014 | 7:01 AM ET

    WASHINGTON— The Senate on Thursday confirmed President Barack Obama's housing chief as the new director of the White House budget office, completing a second-term Cabinet shuffle. Jeff Sessions of Alabama, who said Donovan was unqualified and hadn't proved he understood fiscal and budgetary issues.

  • Ahead of the Bell: US budget deficit Friday, 11 Jul 2014 | 6:29 AM ET

    WASHINGTON— The Treasury Department will report on the government's budget deficit for June. SURPLUS EXPECTED: Through the first eight months of the budget year, which began Oct. 1, the government has recorded a deficit of $436.4 billion.

  • For the larger companies, the initiative ensures that their own suppliers are robust and "demonstrates a recognition that a healthy supply chain is good for business," the White House said in a statement.

  • Obama asking companies to pay suppliers faster Friday, 11 Jul 2014 | 6:00 AM ET

    WASHINGTON— Dozens of companies, including Apple, Honda and Coca-Cola, have agreed to pay their suppliers more quickly in a bid to boost small businesses, the White House announced Friday.

  • Afghan aid is dropping, but how fast is too fast? Thursday, 10 Jul 2014 | 3:21 PM ET

    WASHINGTON— Civilian assistance to Afghanistan was always slated to shrink with America's military footprint, but U.S. aid officials were caught off-guard when Congress, upset by testy relations with Afghan President Hamid Karzai, slashed civilian aid by 50 percent this year.

  • Mass. reports progress in fixing health website Thursday, 10 Jul 2014 | 3:05 PM ET

    BOSTON— Software ordered by Massachusetts to fix its hobbled health care exchange passed initial tests, renewing hopes that the state could finally have a fully operational website by year's end, officials said Thursday.