Washington DC


  • Business Highlights Thursday, 21 Aug 2014 | 6:01 PM ET

    Bank of America settlement likely to benefit few. WASHINGTON— Bank of America's record $16.65 billion settlement for its role in selling shoddy mortgage bonds— $7 billion of it geared for consumer relief— offers a glint of hope for desperate homeowners. NEW YORK— To win the hearts of frequent business travelers, United Airlines is going through their stomachs.

  • NEW YORK, Aug 21- Bank of America Corp has long argued to enforcement officials that it was being forced to pay for the sins of companies it acquired in the crisis, but on Thursday the bank admitted at least some of its mortgage problems happened on its watch.

  • WASHINGTON, Aug 21- The U.S. government is tightening restrictions on hydrocodone, an opioid painkiller contained in Vicodin and other addictive drugs. The move comes as health and law enforcement officials try to curb a rising tide of prescription drug abuse.

  • NKorea launch pad expansion 'nearing completion' Thursday, 21 Aug 2014 | 4:49 PM ET

    WASHINGTON— Construction to upgrade North Korea's main rocket launch pad should be complete by this fall, allowing Pyongyang to conduct a launch by year's end if it decides to do so, a U.S. research institute said Thursday.

  • Federal Reserve should avoid waiting too long to raise interest rates, a top policymaker said on Thursday, arguing that there was no longer a lot of slack in the labor market.

  • NEW YORK/ LOS ANGELES, Aug 21- A clutch of states including California, New York and Illinois will share in a mini-bonanza from the $16.65 billion settlement agreed by Bank of America Corp on Thursday.

  • FOREX-Dollar softens on wariness ahead of Yellen speech Thursday, 21 Aug 2014 | 4:17 PM ET

    NEW YORK, Aug 21- The dollar surrendered some recent gains on Thursday as central bankers gathered for a three-day meeting in Wyoming that will feature a potentially market-rattling speech by Federal Reserve Chair Janet Yellen.

  • Figures on government spending and debt Thursday, 21 Aug 2014 | 4:17 PM ET

    WASHINGTON— Figures on government spending and debt.

  • ATLANTA, Aug 21- Appearing thin but smiling, a Texas doctor who weeks ago entered an Atlanta hospital in a full-body biohazard suit to be treated for Ebola said on Thursday he was "thrilled to be alive" as doctors declared him virus-free and safe for release.

  • FDA clears Eliquis for new use against blood clots Thursday, 21 Aug 2014 | 3:10 PM ET

    WASHINGTON— Bristol-Myers Squibb and Pfizer said Thursday that federal regulators have expanded approval of their blood thinner Eliquis to treat two types of dangerous blood clots. The Food and Drug Administration cleared the drug for patients suffering from or at risk of deep vein thrombosis and pulmonary embolism.

  • Cuba struggles to attract investors despite reforms Thursday, 21 Aug 2014 | 1:04 PM ET

    HAVANA, Aug 21- Cuba has yet to attract new foreign investors despite launching two major initiatives in the past year, a sign of the lingering caution over doing business with the communist government and its own hesitancy to follow through on free-market-style reforms.

  • YOUR MONEY-Top travel tips for a hassle-free journey Thursday, 21 Aug 2014 | 12:11 PM ET

    Aug 21- When is the best time to book a trip to Walt Disney World? During a Twitter discussion on Aug. 19 hosted by Reuters, a panel of experts fielded questions about travel. The panel comprised Brian Kelly, who runs ThePointsGuy.com; Tim Winship, editor and publisher of FrequentFlier.com, and Jason Cochran, editor of Frommers.com.

  • Average US 30-year mortgage rate at 4.10 pct Thursday, 21 Aug 2014 | 12:09 PM ET

    WASHINGTON— Average long-term U.S. mortgage rates declined this week, with the 30- year loan rate hitting its 52- week low. Mortgage company Freddie Mac said Thursday the nationwide average for a 30- year mortgage fell to 4.10 percent from 4.12 percent last week.

  • SolarWorld to double-check solar panel systems Thursday, 21 Aug 2014 | 12:05 PM ET

    WASHINGTON— SolarWorld will verify proper installation of solar systems involving 1.5 million of its panels due to installation instructions that could lead to a possible electric shock, electrocution or fire hazard. SolarWorld said that it has received one report of corrosion related to the bare copper lugs.

  • New restrictions on hydrocodone to take effect Thursday, 21 Aug 2014 | 11:06 AM ET

    The move, announced in a federal notice, comes more than a decade after the Drug Enforcement Administration first recommended reclassifying hydrocodone due to its risks for abuse and addiction. But last year the FDA changed its position, citing the national epidemic of overdoses and deaths tied to prescription painkillers known as opioids.

  • WRAPUP 2-U.S. housing, jobs data bolster economic outlook Thursday, 21 Aug 2014 | 11:05 AM ET

    WASHINGTON, Aug 21- U.S. home resales rose to a 10- month high in July and the number of Americans filing new claims for unemployment benefits fell last week, signaling strength in the economy early in the third quarter.

  • FOREX-Dollar trades in tight range ahead of Yellen speech Thursday, 21 Aug 2014 | 10:47 AM ET

    NEW YORK, Aug 21- The dollar held onto healthy recent gains to trade little changed on Thursday as central bankers gathered for a three-day meeting in Wyoming that will feature a potentially market-rattling speech by Federal Reserve Chair Janet Yellen. The euro, which traded in early May a hair under $1.40, was last up 0.20 percent to $1.3283.

  • Gauge of US economy rises 0.9 percent in July Thursday, 21 Aug 2014 | 10:27 AM ET

    WASHINGTON— A gauge designed to predict the economy's future health posted the sharpest advance in four months in July, indicating the economy is gaining traction headed into the last half of the year.

  • JOHANNESBURG, Aug 21- Surviving sickness can make you stronger. "If anything, I think it is teaching us something," Mustapha Sidiki Kaloko, the African Union's Commissioner for Social Affairs, told reporters in Addis Ababa this month.

  • US housing recovery appears to be back on track Thursday, 21 Aug 2014 | 10:01 AM ET

    WASHINGTON— A fourth straight monthly increase in sales of existing homes provided the latest evidence Thursday that the U.S. housing market is rebounding from a weak start to the year.