WASHINGTON— Congress accomplished relatively little in a short work period, missing deadlines on the budget and on helping Puerto Rico with its financial crisis as lawmakers began a weeklong break. "It's very, very hard to get anything done if you are a drive-by Congress," House Minority Leader Nancy Pelosi, D- Calif., said Friday. Over the past month, the Senate... » Read More
The White House said that President Bush would not veto a final bill from Congress that orders a halt to filling the Strategic Petroleum Reserve while oil prices are very high.
Key members of the U.S. Senate have reached a deal on a sweeping housing rescue plan that would see Fannie Mae and Freddie Mac backstop a government mortgage insurance fund, two industry sources said Thursday.
The judge presiding over Russia's $22.5 billion lawsuit against the Bank of New York Mellon insisted on Tuesday the case move toward a quick conclusion after more than a year of procedural delays.
The House is due Wednesday to begin debating a housing rescue package that could see the government buy up $15 billion of abandoned homes and help an estimated half million homeowners facing foreclosure.
A senior UBS employee was briefly detained by U.S. authorities in April as part of an investigation into the bank's cross-border business, the Swiss bank said on Wednesday.
Federal prosecutors in New York have formed a task force together with other government agencies to examine the collapse of the market for risky home loans, a spokesman for the U.S. Attorney's Office in Brooklyn said Monday.
A New York state judge on Thursday made no immediate ruling on a group of banks' request to dismiss a lawsuit seeking to force them to fund the $20 billion leveraged buyout of Clear Channel Communications.
U.S. federal regulators will announce a settlement on Friday with former Fannie Mae executives over their alleged roles in a 2004 multibillion-dollar accounting scandal, a person familiar with the settlement said on Thursday.
Attorneys for former Enron CEO Jeffrey Skilling will argue Wednesday that his 2006 conviction should be overturned because of “shocking” and “egregious” misconduct by prosecutors.
Well, not altogether true, of course. Or rather: It´s not so much confidence, but the notable lack thereof. Has Ben Bernanke completely lost his bearings? That's the question of the day ...
Jerome Kerviel, the Frenchman blamed by his company for the world's biggest rogue trading scandal, left jail on Tuesday after winning a legal battle against detention.
Attorneys for jailed former Enron CEO Jeffrey Skilling say the government illegally withheld key evidence that would have proven he is innocent.
A federal grand jury and the Securities and Exchange Commission have been investigating the anti-money laundering practices of Fidelity Investments, according to a report in the Boston Business Journal.
Police arrested another employee of Societe Generale on Wednesday as part of its inquiry into an alleged rogue trading scandal at France's second-biggest listed bank, the Paris prosecutor's office said.
It is the ECB's mandate, credo and conviction that only an inflation-free (inflation-free in ECB speak is a rise in consumer prices of no more than 2 percent) economy is a healthy economy and that price stability is the best guarantor for economic growth and prowess.
The latest sovereign wealth fund move underlines hemes at this year's MIPIM: where do the value opportunities lie a year after the credit crunch started to take hold, and who will emerge as the new dominant players?
The 28,000 delegates can now start to discuss the real issue of the day. Who will throw the most fabulous party? And more importantly: how the devil are they making enough money to pay for it?
We all expected the credit crunch to cast a shadow across the start of this year's MIPIM real-estate conference starting in Cannes tomorrow. But a literal storm was the immediate problem.
I've received so many emails from readers who are interested in following up on how American Apparel is doing and asking for details of CEO Dov Charney's sex harassment trial. The last post on Retail Detail mentioned that Charney was headed to trial.
You might have seen the headlines. You might have seen curious press pics and television news clips with German top managers, such a Klaus Zuminkel, the (since pushed into resigning) CEO of Deutsche Post, led in handcuffs from their homes, a battalion of tax investigators bearing boxes of documents trailing triumphantly.