Edward Woodard, the former chief executive of Bank of the Commonwealth, was found guilty along with two other executives by a federal jury in Norfolk following a multi-week trial, the U.S. Justice Department said.» Read More
If lawmakers don't act, the US Postal Service could run out of money "between six months and a year" and there could be a period of time when mail isn't delivered, policy and economics experts said.
*Financial data, Social Security numbers stolen. WASHINGTON, Jan 28- California- based CBR Systems Inc, which stores stem cells from umbilical cord blood, has settled charges that poor data protection policies led to the exposure of hundreds of thousands of clients' Social Security numbers and financial data, the Federal Trade Commission said on Monday.
In a letter dated Jan. 25, the Iowa Republican demanded a briefing and internal documents from Commodity Futures Trading Commission Inspector General A. Roy Lavik.
LONDON, Jan 27- The Federal Reserve's ultra-loose monetary policy is a root cause of the "currency wars" that some see as a looming threat to the world economy, but don't expect the U.S. central bank to signal a shift back to normal any time soon.
The court found that the Senate was not truly in recess, for the purpose of a recess appointment, when Obama in January 2012 installed three nominees to the National Labor Relations Board. Republicans argued that Obama undercut the Senate's power to confirm nominees because although most of its members were out of town, the Senate had not formally adjourned.
A federal appeals court has invalidated President Obama's "recess" appointments to a labor board last year, ruling that the move was unconstitutional and dealing a blow to Obama's strategy of bypassing Senate Republicans.
*Approvals in past 2 years "cause for optimism"- FDA head. DAVOS, Switzerland, Jan 25- Pharmaceutical industry productivity is improving as a more targeted approach to drug development yields dividends and regulators offer speedier decisions on medicines that make a real difference to patients.
WASHINGTON, Jan 25- A federal appeals court on Friday rejected President Barack Obama's "recess" appointments to a labor board last year, saying they were constitutionally invalid. The appointments to the National Labor Relations Board were made while the Senate was out of town but potentially available to act on them.
WASHINGTON, Jan 25- Timothy Geithner, who steps down as U.S. Geithner had been viewed as a top candidate to replace current Fed chief Ben Bernanke, whose second four-year term as chairman of the U.S. central bank ends on Jan. 31, 2014.
Jan 25- U.S. health regulators approved Merck& Co's nonprescription version of Oxytrol to treat overactive bladder in women ages 18 and older, the agency said on Friday. Oxytrol for Women is a patch that contains oxybutynin, a medicine that helps relax the bladder muscle, and is designed to be applied to the skin every four days, the FDA said.
The three appointments to the National Labor Relations Board in January 2012 were made while the Senate was out of town but potentially available to act on them.
Treasury Secretary Timothy Geithner prepares to step down on Friday, former colleagues are posing awkward questions about an allegation he leaked information on a planned interest rate cut when he led the New York Federal Reserve Bank.
One whistleblower is adamant about his fear about the use of lithium-ion batteries on the Boeing 787 Dreamliner, saying they could "explode."
WASHINGTON, Jan 24- Jill Sommers, a Republican, said on Thursday she is stepping down as a commissioner of the U.S. Commodity Futures Trading Commission, leaving the main U.S. derivatives regulator firmly in Democratic hands as it puts in place the last building blocks of a Wall Street overhaul.
Jan 23- The U.S. Food and Drug Administration on Wednesday approved the use of Roche's Avastin for patients whose colorectal cancer has worsened despite previous treatment with the drug.
WASHINGTON, Jan 23- The U.S. Federal Aviation Administration does not know yet what caused battery problems on Boeing Co's 787 Dreamliner and cannot speculate when a comprehensive review of the plane will end, FAA Administrator Michael Huerta said on Wednesday.
With tacit support from President Barack Obama, the GOP-controlled House approved an extension of the debt ceiling Wednesday, heading off an economy-rattling fiscal crisis for at least four months.
SEATTLE/ TOKYO, Jan 22- In 2007, U.S. regulators cleared Boeing's use of a highly flammable battery in the 787 Dreamliner, deciding it was safe to let the lithium-ion battery burn out if it caught fire mid-air as long as the flames were contained, and smoke and fumes vented properly, according to documents reviewed by Reuters.
WASHINGTON, Jan 22- The U.S. Supreme Court on Tuesday refused to consider an appeal by Asarco LLC over how much authority a top federal environmental regulator should have in setting air quality standards. The EPA is authorized under the Clean Air Act to adopt standards that are necessary to protect the public health, while allowing an "adequate margin of safety".
Jan 22- Allegations that Timothy Geithner, then head of the New York Federal Reserve, may have told banks ahead of time about a surprise policy move in 2007 underscores the pressing case for reform to safeguard the integrity and independence of the central bank.