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Top News & Analysis Washington DC

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  • NEW ORLEANS, Aug 27- President Barack Obama said on Thursday urged the U.S. Congress to avoid contributing to global economic uncertainty and quickly pass a budget before a deadline at the end of September to prevent a government shutdown. He said Congress should avoid attaching to the bill "unrelated partisan issues," a reference to a tactic to use the must-pass...

  • WASHINGTON— Amgen Inc. has won federal approval for the second medicine in a new class of pricey biotech drugs that reduce artery-clogging cholesterol more than older statin drugs that have been used for decades. Thousand Oaks, California- based Amgen was expected to announce the drug's price following the FDA announcement. A similar drug called Praluent,...

  • WASHINGTON— Figures on government spending and debt.

  • NEW YORK, Aug 27- The dollar rose for a third consecutive session on Thursday, bolstered by data showing a much stronger U.S. economy than had been thought and by gains in global equities, which benefited from improving risk sentiment. The reports, however, did little to change the view that the Federal Reserve would delay raising interest rates given recent market...

  • "The FDA's job is to ensure tobacco products are not marketed in a way that leads consumers to believe cigarettes with descriptors like' additive-free' and' natural' pose fewer health risks than other cigarettes, unless the claims have been scientifically supported," Mitch Zeller, director of the FDA's tobacco products division, said in a statement.

  • BEIJING, Aug 27- Concerns over a possible U.S. rate rise by the Federal Reserve may have sparked a global stock market rout rather than the devaluation of China's yuan currency, a senior Chinese central bank official told Reuters on Thursday. Yao's comments, which came on the same day that state media issued a number of commentaries defending China's policy...

  • WASHINGTON— Institute for Supply Management releases its manufacturing index for August, 10 a.m.; Commerce Department releases construction spending for July, 10 a.m.. WASHINGTON— Labor Department releases second-quarter productivity data, 8:30 a.m.; Commerce Department releases factory orders for July, 10 a.m.; Federal Reserve releases Beige Book, 2 p.m..

  • But representatives for the generic drug industry warned that the FDA's proposal could curb those savings by making the drugs more difficult to prescribe. For decades, they have not faced generic competition because the FDA lacked a system to approve cheaper versions until 2012. Earlier this year the agency approved the first "biosimilar."

  • NEW YORK, Aug 27- The dollar advanced for a third consecutive session on Thursday, bolstered by data showing a much stronger U.S. economy than had been thought and by gains in global equities, which benefited from improving risk sentiment. The reports, however, did little to change the view that the Federal Reserve would delay raising interest rates given recent...

  • WASHINGTON— Average long-term U.S. mortgage rates dropped this week to their lowest levels since May, in a week marked by turmoil in global markets that was stoked by economic developments in China. Mortgage giant Freddie Mac said Thursday the average rate on a 30- year fixed-rate mortgage fell to 3.84 percent from 3.93 percent a week earlier.

  • WASHINGTON— Slightly more Americans signed contracts to buy homes in July, as pending sales edged up after dipping in June. The National Association of Realtors said Thursday that its seasonally adjusted pending home sales index rose 0.5 percent to 110.9 last month. "The pending sales index has stalled, at least for now," said Ian Shepherdson, chief economist at...

  • WASHINGTON— The Associated Press sued the U.S. Department of Justice Thursday over the FBI's failure to provide public records related to the creation of a fake news story used to plant surveillance software on a suspect's computer. The link enabled the FBI to infect the suspect's computer with software that revealed its location and Internet address.

  • WASHINGTON— Fewer people sought U.S. unemployment benefits last week, evidence that employers remain confident in the economy and are laying off few workers. The Labor Department said Thursday that weekly applications for unemployment aid dropped 6,000 to a seasonally adjusted 271,000. The four-week average, a less volatile measure, ticked up 1,000 to...

  • WASHINGTON— The Labor Department reports on the number of people who applied for unemployment benefits last week at 8:30 a.m. Eastern Thursday. GLOBAL ECONOMIC TURMOIL: Economic turmoil in China and uncertainty about the Federal Reserve's next moves on interest rates caused US stocks to tumble for six straight days before recovering some lost ground...

  • WASHINGTON— Famous people don't often get involved with Medicare payment policy, but a Boston Marathon bombing survivor and a former U.S. senator who lost a leg in wartime service have joined an industry campaign to block new requirements for artificial legs and feet. A Medicare spokesman refused to answer questions about the proposed changes, issuing a...

  • The economy as measured by gross domestic product expanded at an annual rate of 3.7 percent in the April-June quarter, the Commerce Department reported Thursday. Since the spring, it has been hit with deepening concerns about a slowdown in China and recent turbulence in global financial markets. "The U.S. economy entered the current market turbulence with...

  • German Chancellor Angela Merkel, EU foreign policy chief Federica Mogherini, European Commission Vice President Maros Sefcovic, European Bank for Reconstruction and Development President Sir Suma Chakrabarti and prime ministers of Italy, Serbia, Slovenia, Croatia and Albania to attend. PARIS- European Central Bank board member Benoit Coeure speaks at the...

  • Aug 26- Presidential candidate Donald Trump on Wednesday said he thought it was "worth the fight" for congressional Republicans to threaten not to raise the U.S. debt limit as a way to pressure the Obama administration to agree to spending cuts. The Treasury Department has said the federal government can stay under its borrowing limit until at least the end of...

  • WASHINGTON, Aug 26- The World Trade Organization has ruled against India in a dispute with the United States over its solar power program, Indian business newspaper Mint reported on Wednesday. Mint quoted an unnamed official from the Indian commerce ministry as saying the country planned to appeal the decision, made after the United States complained about...

  • Aug 26- Presidential candidate Donald Trump on Wednesday said he thought it was "worth the fight" for congressional Republicans to threaten not to raise the U.S. debt limit as a way to pressure the Obama administration to agree to spending cuts. "Honestly there is so much fat in Washington that if you had the right people in there you could cut it," Trump said on...