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  • WASHINGTON, March 3- The Senate Banking Committee on Tuesday launched its effort to pursue reforms at the Federal Reserve, with the central bank's regional structure among the topics that came into the panel's cross-hairs. This month, outgoing Dallas Fed President Richard Fisher said the Fed should revamp its rules to address perceptions of conflicts of...

  • WASHINGTON, March 3- U.S. automakers have written to Federal Reserve Chair Janet Yellen to say the U.S. central bank need not worry about the impact of adding currency rules to trade deals. Yellen warned Congress last week against a bid to crack down on currency cheats and said adding currency rules to trade deals could hobble monetary policy.

  • WASHINGTON— Republicans controlling the Senate moved Tuesday to try to reverse a new National Labor Relations Board rule that would shorten the time between a union's request for representation and the vote on whether to certify a union. But the White House promised to veto the measure just before the Senate's 53-45 party-line vote. The White House statement...

  • WASHINGTON, March 3- The chairman of the U.S. Senate Banking Committee said on Tuesday that the Federal Reserve is not immune from congressional oversight. Senator Richard Shelby said at a Fed reform committee hearing on Tuesday that the panel will explore reforming the Fed system, as the Alabama Republican and other lawmakers add pressure to the U.S. central...

  • WASHINGTON, March 3- The Federal Aviation Administration is seeking ways to speed up the approval process for commercial drone operations, but its efforts have been hindered by its lack of authority to review multiple applications on a group basis, the FAA chief said on Tuesday. The FAA recently proposed new regulations that would lift the current ban on most...

  • WASHINGTON— The world's central banks are injecting a new complication into the Federal Reserve's decision on when to raise interest rates from record lows:. Last weekend, China's central bank slashed key rates for a second time in three months to try to stimulate the slowing Chinese economy. That move followed the European Central Bank's decision in January...

  • Cradle-bassinet recalled over danger to infants Tuesday, 3 Mar 2015 | 1:52 PM ET

    NEW YORK— Dream On Me is recalling its 2- in-1 Bassinet to Cradle because it poses a falling and suffocation risk for infants, the U.S. Consumer Product Safety Commission said Tuesday. The products were sold at websites including Amazon.com, Walmart.com, Wayfair.com, ToysRUs.com and Kohls.com between May 2012 and October 2014. They were made in China.

  • FDA warning: men's testosterone drugs overused Tuesday, 3 Mar 2015 | 12:10 PM ET

    Additionally, the FDA cautioned that the drugs may increase the risk of heart attack, stroke and other cardiovascular problems. Drugmakers must add information about that potential risk to their prescribing labels and conduct a long-term study to further examine the issue, the FDA said. The FDA action follows years of industry marketing for new gels, patches...

  • Federal agency cancels sensitive U.S. patent program Tuesday, 3 Mar 2015 | 11:23 AM ET

    March 3- The United States Patent and Trademark Office has canceled a largely unknown but controversial program that flagged "sensitive" patent applications for heavier scrutiny, saying it was of minimal benefit. The program, called the Sensitive Application Warning System, began in 1994 and was meant to notify the federal agency's leadership of...

  • Netanyahu takes center stage in GOP war with Obama Tuesday, 3 Mar 2015 | 6:31 AM ET
    Israeli Prime Minister Benjamin Netanyahu casts his ballot at a polling station on election day, January 22, 2013 in Jerusalem, Israel.

    Iraeli Prime Minister Netanyahu will address Congress featuring divisions not only over his likely message, but on the nature of his trip to the nation's capital. NBCNews reports.

  • Did Hillary Clinton break rules over email use? Tuesday, 3 Mar 2015 | 2:40 AM ET
    Hillary Clinton at the 2014 CGI annual meeting in New York.

    Hillary Clinton exclusively used a personal email account to conduct government business, possibly breaking rules, the NYT reports.

  • *Gold back above $1,200, but below two-week high. March 3- Gold edged higher on Tuesday, recovering from early losses that pulled it briefly below $1,200 an ounce, as the dollar came off an 11- year peak against a basket of currencies. Gold fell the most in five months in February, with the Federal Reserve seen to be set to lift rates this year for the first time since 2006...

  • DIARY-Top Economic Events to March 15 Monday, 2 Mar 2015 | 7:01 PM ET

    LONDON- Bank of England's Paul Fisher speaks at the Economist's Insurance Summit 2015- 0910 GMT. LONDON- Bank of England's Anthony Habgood and Governor Mark Carney appears before Treasury Select Committee- Grabiner Report- 1000 GMT. LAKE FOREST, United States- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic conditions and...

  • Pacira Pharma slumps after FDA ruling on pain drug Monday, 2 Mar 2015 | 5:08 PM ET

    NEW YORK— Shares of Pacira Pharmaceuticals tumbled Monday after the company said regulators refused to grant a new marketing approval for its post-surgical pain drug Exparel. Pacira Pharmaceuticals wants to market the drug for blocking nerves to relieve pain after surgery, but the Food and Drug Administration did not give it marketing approval.

  • WASHINGTON, March 2- The Obama administration is waiting for China to respond to concerns raised about planned new rules pushing Chinese banks to purchase high-tech products from domestic vendors, a senior State Department official said on Monday. Novelli said there was no set timeline for China to respond, but said the United States had looked into whether...

  • WASHINGTON— One of the nation's leading medical researchers joined the Food and Drug Administration on Monday, taking on the agency's No. 2 leadership job at a critical juncture for prescription drugs, medical devices and tobacco products. Robert Califf comes to the job of FDA deputy commissioner after more than 30 years as a researcher and administrator at...

  • University president tapped to head Philadelphia Fed Monday, 2 Mar 2015 | 11:12 AM ET

    WASHINGTON— The head of the University of Delaware has been selected to be the new president of the Federal Reserve Bank of Philadelphia. The bank's board of directors announced Monday that Patrick T. Harker, 56, will succeed Charles Plosser, who retired effective March 1. In addition to serving as president of the University of Delaware, Harker was a professor of...

  • March 2- The Philadelphia Federal Reserve on Monday named Patrick Harker, one of its directors and the head of the University of Delaware, as its president and newest U.S. monetary policymaker. Harker, a lifelong resident of Pennsylvania and neighboring Delaware, has been president since 2007 of the university, where he teaches business administration and...

  • March 2- The U.S. Food and Drug Administration rejected Pacira Pharmaceuticals Inc's application for expanding the use of its post-surgery pain drug, Exparel. Pacira said on Monday it would work with the FDA to secure the new indication for Exparel, which will allow it to harness a wider range of post-operative patients. Exparel, approved in April 2012 for...

  • March 2- The U.S. Food and Drug Administration rejected Pacira Pharmaceuticals Inc's application for expanding the use of its pain drug, exparel.