GOLETA, California— Two federal agencies issued an order Wednesday to ensure that Plains All American Pipeline finishes the cleanup of what they call the largest coastal oil spill in California in 25 years. The Environmental Protection Agency and the Coast Guard issued the joint Clean Water Act order to ensure the cleanup of heavy crude on land, at the...» Read More
A senior scientist at Consumers Union told "Squawk Box" that the U.S. regulators need to step-up inspections of food coming from China, particularly seafood.
Britain's financial watchdog has found poor practice by intermediaries and lenders in the U.K. subprime mortgage market and has launched enforcement action against five firms, it said on Wednesday.
Filmmaker Michael Moore, whose movie "Sicko" opens Friday, told CNBC that he's urging investors to dump shares of health insurers and health maintenance organizations because "people don't need a middleman between the doctor and the patient."
U.S. Treasury Secretary Henry Paulson said it would be unwise and dangerous to single out hedge funds and private equity when revising the tax code.Speaking at the Wall Street Journal's Deals and Dealmakers Conference, which was shown live on CNBC.com, Paulson said proposals in Congress to boost the tax rate on hedge funds and private equity firms to 35% from 15% ignore the economic benefits of partnerships.
International concerns over China's food safety problems have increased, though one advisor said the U.S. must still look after its trading partner. "China is a natural ally of the United States. We should not make it otherwise," Robert Kuhn, senior advisor at Citigroup said on "Power Lunch."
The U.S. Securities and Exchange Commission has opened 12 enforcement investigations into matters surrounding collateralized debt obligations (CDO), the agency's leader told a Congressional panel.
Senators reached agreement on a proposal to increase automobile fuel economy standards to 35 miles per gallon, the first significant boost demanded of automakers in nearly 20 years.
Prime Minister Tony Blair said Wednesday that there are legitimate concerns about the level of tax paid by private equity companies and their executives, which the government is studying.
Federal antitrust regulators have cleared Cerberus Capital Management's $7 billion purchase of Chrysler, people close to the deal said.
A debate continues in the Senate over the energy bill that could bring massive changes to the current U.S. energy policy. On “Morning Call,” Christopher Horner, author of “The Politically Incorrect Guide to Global Warming and Environmentalism,” and David Hamilton, director of the Sierra Club’s Global Warming & Energy program, debated which party has the best policy.
The U.S. International Trade Commission ordered a ban on Thursday of some imported cell phone models containing Qualcomm chips that infringe on a Broadcom patent.
A U.S. appeals court overruled regulators who decided that expletives uttered on broadcast television violated decency standards, a major victory for TV networks.
Regulators postponed a decision Friday on revoking the license of BP's Russian joint venture for a giant gas field, days before President Vladimir Putin heads into a Group of Eight summit amid grumbles about the Kremlin using energy as a political weapon.
New York Gov. Eliot Spitzer, who rose to political prominence by uncovering wrongdoing on Wall Street, Tuesday proposed overhauling how the state oversees financial firms to reflect their consolidation.
China's former top drug regulator was sentenced to death in an unusually harsh punishment for taking bribes to approve substandard medicines, including an antibiotic blamed for at least 10 deaths.
The Federal Reserve will consider whether new regulations could curtail lending practices that have contributed to a rise in mortgage delinquencies, Fed Chairman Ben Bernanke said in a letter released on Friday.
The British government ordered the country's competition watchdog on Thursday to carry out a full inquiry into British Sky Broadcasting's purchase of a significant stake in commercial broadcaster ITV.
The U.S. Securities and Exchange Commission approved new guidance to help companies comply with what critics say is a burdensome and costly provision of the Sarbanes-Oxley corporate reform law.
The U.S. House of Representatives passed a bill Wednesday to charge firms and individuals fines and criminal penalties for so-called gasoline price-gouging. On “Power Lunch,” experts debated the bill's benefits to and impact on consumers.
The House passed a bill that would give the FTC more authority to probe price profiteering from gasoline and other refined products. Violators would face criminal penalties and fines. The bill, which the Bush administration has threatened to veto, is meant to prevent gasoline stations from running up prices.