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Top News & Analysis Washington DC

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  • WASHINGTON— After a terrible winter, the economy is improving, with a solid rebound in the spring expected to be followed by stronger growth in the second half of the year. That's the view of many economists who think a steadily improving job market will give households more income to spend and boost consumer spending, which drives about 70 percent of the economy.

  • WASHINGTON— Expectations have grown that sometime this year, the Federal Reserve will raise interest rates from record lows. The only question seems to be when. Many analysts foresee the first hike in September, though Fed Chair Janet Yellen has stressed that any increase will be driven by the latest economic data.

  • But there are signs of slowing momentum around New York, Los Angeles and Washington. Rents continue to jump at double-digit rates in Denver, San Francisco and San Jose, California. Median prices slipped month over month in the New York metro area by $15 to $2,340, while also dropping slightly in Washington and flat-lining in Los Angeles.

  • Vanda reports 2Q loss 10 Hours Ago

    WASHINGTON _ Vanda Pharmaceuticals Inc. on Wednesday reported a loss of $5.4 million in its second quarter. The Washington- based company said it had a loss of 13 cents per share. Keywords: Vanda Pharmaceuticals, Earnings Report.

  • NEW YORK— A former software engineer at a prominent California law firm was sentenced Wednesday to two years in prison for insider trading by a judge who noted that he should have realized the dangers of what he was doing when one of his firm's lawyers was arrested on the same charges in a separate prosecution. District Judge Paul A. Engelmayer in Manhattan told...

  • WASHINGTON— Air safety investigators have a "high degree of confidence" that aircraft debris found in the Indian Ocean is of a wing component unique to the Boeing 777, the same model as the Malaysia Airlines plane that disappeared last year, a U.S. official said Wednesday. A French official close to an investigation of the debris confirmed Wednesday that French...

  • Earlier this week, U.S. crude prices hit four-month lows and Brent, the more important global benchmark, neared a six-month trough as a global oil glut, resurgent dollar and stock market tumble in top energy consumer China took a toll. "I see a rebound of about five bucks off the recent lows in the most likely scenario," said Chris Jarvis at Caprock Risk Management, an...

  • WASHINGTON— Treasury Secretary Jacob Lew told Congress on Wednesday that he will extend for another three months the authority he is using to take emergency measures to keep from breaching the nation's borrowing limit. The Congressional Budget Office has estimated that the bookkeeping maneuvers should keep the government's borrowing below the new limit...

  • WASHINGTON— The University of Phoenix, which runs an online college popular among military veterans, is under federal investigation for possible deceptive or unfair business practices, its parent company the Apollo Education Group told shareholders Wednesday. Since 2009, when the GI Bill expanded student aid benefits for veterans, the University of...

  • WASHINGTON, July 29- The United States is in talks to reach an agreement on currency policy with all its partners in a potential Asia-Pacific trade pact, a U.S. Treasury official said on Wednesday. "We are discussing with all of our TPP partners provisions to promote our mutual interest in preventing unfair currency practices," the official said, referring to the...

  • WASHINGTON— Figures on government spending and debt.

  • NEW YORK, July 29- The dollar rose modestly against a basket of currencies on Wednesday as the Federal Reserve upgraded its view of the labor market, supporting some traders' opinion that it would raise benchmark U.S. interest rates, perhaps as early as September. Although inflation has remained below the Fed's 2 percent target and overseas developments...

  • *Crude futures rise $1 before ending off highs on strong dollar. NEW YORK, July 29- Oil settled higher on Wednesday, recovering from multi-month lows, after U.S. government data showed a surprisingly large crude stockpile draw that signaled the market may have been wrong in predicting slumping demand for energy. Crude futures lost more than $10 a barrel over the...

  • WASHINGTON— The U.S. Fish and Wildlife Service says it is ready to assist Zimbabwe in its investigation of an American dentist's killing of a protected African lion and will conduct its own probe. Laury Parramore of the Fish and Wildlife Service on Wednesday declined to say what the agency might do once it has more information. Police have not said whether Palmer...

  • WASHINGTON— The Republican leader of the U.S. House of Representatives says he supports a push by U.S. oil companies to ship their crude oil overseas and lift a decades-long ban on exports. Speaker John Boehner said the change would be a boon for the economy, creating up to a million jobs and bringing U.S. energy policy into the 21st century. The export ban is a relic of...

  • WASHINGTON, July 29- Daniel Hawke, a 16- year veteran at the Securities and Exchange Commission who helped lead major high-profile enforcement cases against stock exchanges and brokerages, is planning to leave the agency in August, the SEC announced on Wednesday. Hawke, who heads the SEC enforcement division's market abuse unit, is a well-known figure among...

  • WASHINGTON— Below is the statement the Fed released Wednesday after its latest policy meeting ended:. Information received since the Federal Open Market Committee met in June indicates that economic activity has been expanding moderately in recent months. Growth in household spending has been moderate and the housing sector has shown additional...

  • WASHINGTON— The Federal Reserve appears on track to raise interest rates later this year but signaled Wednesday that it wants to see further economic gains and higher inflation before doing so. A statement from the Fed after its latest policy meeting provided no timetable. Many analysts foresee the first hike in September, though Fed Chair Janet Yellen has...

  • WASHINGTON— Fed keeps interest rate unchanged, seeks further economic gains before starting hikes.

  • FDA approves stomach-filling balloon for weight loss. FDA approves medical balloon to treat obesity by filling up stomach. Patients are sedated during the procedure, which takes less than 30 minutes, according to an FDA release.