Washington DC


  • Fed No. 2 Fischer says care needed to avert crisis Thursday, 10 Jul 2014 | 4:40 PM ET

    WASHINGTON— The Federal Reserve's new No. 2 official says regulators must continue to work to end the need for the government to bail out big banks in a crisis. Fischer, a former official of the International Monetary Fund and a head of the Bank of Israel, said regulators "need to be vigilant" in trying to prevent the next crisis— "and there will one."

  • Union pulls black college support after Koch gift Thursday, 10 Jul 2014 | 4:35 PM ET

    WASHINGTON— A powerful government workers' union will end its support for the United Negro College Fund after the group accepted $25 million from the conservative powerhouse Koch brothers and the college fund's president appeared at a Koch event. It accepted a $25 million grant last month from Koch Industries Inc. and the Charles Koch Foundation.

  • 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.

  • Ace Cash Express settles debt collection claims Thursday, 10 Jul 2014 | 2:46 PM ET

    WASHINGTON— Ace Cash Express Inc. has agreed to pay $10 million in a settlement with federal regulators who accused the payday lender of illegally harassing borrowers to collect debts and get them to take out additional loans. The Consumer Financial Protection Bureau announced the agreement with Ace, one of the biggest payday lenders in the U.S.

  • Washington's blueberry crop growing to 45,000 tons Thursday, 10 Jul 2014 | 1:50 PM ET

    SEATTLE— Washington blueberry growers expect to harvest 90 million pounds— 45,000 tons— of blueberries this summer. The Washington Blueberry Commission says that's 10 million pounds more than last year and ranks the state fourth in the nation in blueberry production behind Michigan, Oregon and Georgia.

  • Federal judge orders IRS to explain lost emails Thursday, 10 Jul 2014 | 1:29 PM ET

    WASHINGTON— A federal judge on Thursday ordered the IRS to explain under oath how it lost a trove of emails to and from a central figure in the agency's tea party controversy. He said the IRS declaration must be signed, under oath, by the appropriate IRS official. The IRS says it lost the emails in 2011 when Lois Lerner's computer crashed.

  • Chelsea Clinton speaking fees can reach $75,000 Thursday, 10 Jul 2014 | 12:54 PM ET

    The family's finances have come under scrutiny in recent weeks after the former secretary of state said during her book tour that the family was "dead broke" and in debt when husband Bill Clinton left the White House in January 2001.

  • House, Senate committees advance highway aid plans Thursday, 10 Jul 2014 | 12:15 PM ET

    Dave Camp, R- Mich., that cobbles together $11 billion in pension tax changes, customs fees and money from a fund to repair leaking underground fuel storage tanks to shore up the federal Highway Trust Fund through May 2015. In the Senate, the Finance Committee, also on a voice vote, approved a compromise worked out between the committee's chairman, Sen.

  • Uber driver kidnaps rider, leads high-speed chase Thursday, 10 Jul 2014 | 12:08 PM ET

    A visitor to the nation's capital was kidnapped by an Uber driver and led on a high-speed chase through the city.

  • Senate panel backs tighter rules on political cash Thursday, 10 Jul 2014 | 11:56 AM ET

    WASHINGTON— Members of the Democratic-controlled Senate Judiciary Committee on Thursday sent to their colleagues a long-shot proposed change to the Constitution that would rein in political spending. "The plain text of this amendment would allow Congress to ban books, to ban movies and to silence the NAACP," said Sen.

  • Treasury sanctions Hezbollah procurement network Thursday, 10 Jul 2014 | 11:23 AM ET

    WASHINGTON— The Treasury Department on Thursday targeted a procurement network suspected of helping Hezbollah, an Islamic militant group based in Lebanon.

  • Average US 30-year mortgage rate rises to 4.15 pct Thursday, 10 Jul 2014 | 10:11 AM ET

    WASHINGTON— Average U.S. rates on fixed mortgages edged up slightly this week, remaining near historically low levels. Mortgage buyer Freddie Mac said Thursday that the nationwide average rate for a 30- year loan rose to 4.15 percent from 4.12 percent last week.

  • US wholesalers slow restocking as sales weaken Thursday, 10 Jul 2014 | 10:07 AM ET

    WASHINGTON— U.S. wholesale stockpiles rose in May at the weakest pace in five months as companies kept their supplies in line with slower sales. Wholesale stockpiles grew 0.5 percent in May, the Commerce Department said Thursday, down from a 1 percent surge in April. Big gains in inventories of autos, lumber and metals drove the latest increase.

  • July 9- Chinese hackers broke into the computer networks of the U.S. government agency that keeps the personal information of all federal employees in March, the New York Times reported, citing senior U.S. officials. Asked about the report during annual high-level talks between the U.S. and China on Thursday, U.S.

  • US unemployment aid applications fall to 304,000 Thursday, 10 Jul 2014 | 8:34 AM ET

    WASHINGTON— Fewer people sought U.S. unemployment benefits last week, driving down the level of applications to nearly the lowest in seven years. Weekly applications for unemployment aid dropped 11,000 to a seasonally adjusted 304,000, the Labor Department said Thursday.

  • Ahead of the Bell: US Wholesale Inventories Thursday, 10 Jul 2014 | 6:29 AM ET

    WASHINGTON— The Commerce Department reports how much U.S. wholesale businesses adjusted stockpiles in May in response to their sales. The report will be issued at 10 a.m. Eastern on Thursday. SALES RISING: Economists forecast that sales by wholesale businesses rose 0.7 percent in May, according to a survey by FactSet.

  • Ahead of the Bell: US Unemployment Benefits Thursday, 10 Jul 2014 | 6:24 AM ET

    WASHINGTON— The U.S. Labor Department reports on the number of people who applied for unemployment benefits last week. The report will be released at 8:30 a.m. Eastern on Thursday. FLAT READING: Economists forecast that weekly applications were unchanged at 315,000, according to a survey by FactSet.

  • BEIJING, July 10- U.S. and Chinese leaders have agreed that China will reduce its intervention in the currency market when conditions are ripe, reaching an understanding on a prickly issue that has hurt ties between the world's two biggest economies for years.

  • Report: Chinese hackers hit US personnel networks Thursday, 10 Jul 2014 | 4:45 AM ET

    WASHINGTON— Chinese hackers broke into the computer networks of the Office of Personnel Management earlier this year with the intention of accessing the files of tens of thousands of federal employees who had applied for top-secret security clearances, according to The New York Times.

  • US, China talk cyberhacking amid new allegations Thursday, 10 Jul 2014 | 3:37 AM ET

    BEIJING— China and the United States on Thursday promised closer cooperation on climate change and North Korea, although China warned the U.S. not to take sides on its maritime disputes with Asian neighbors. Secretary of State John Kerry said the two sides discussed ways to persuade North Korea to give up nuclear weapons.