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Top News & Analysis Washington DC

  • WASHINGTON— Treasury Secretary Steven Mnuchin told lawmakers on Wednesday that they should vote to increase the government's borrowing authority— and avert a disastrous economic default— before their August recess. It had been expected that Congress wouldn't have to act on the politically painful measure until sometime this fall, but tax revenues are...

  • WASHINGTON— Federal Reserve officials signaled in discussions early this month that they would likely start reducing the Fed's huge portfolio of bond holdings later this year, a step that could cause borrowing rates to rise. The minutes of the Fed's May 2-3 meeting, released Wednesday, show that officials not only discussed beginning a reduction of bond...

  • CHICAGO, May 24- Commodity trader Glencore Plc's confirmation on Tuesday that it sought a tie up with grains trader Bunge Ltd likely signals the start of a wave of consolidation and partnering in the industry, as middlemen struggle to make profits amid a massive global food glut. Bunge and other top grains traders-- who make money by buying, selling, storing,...

  • WASHINGTON, May 24- Puma Biotechnology Inc's experimental breast cancer drug reduces the risk of disease recurrence and should be approved, an advisory committee to the U.S. Food and Drug Administration concluded on Wednesday. The FDA is not obliged to follow the recommendations of its advisory panels, but typically does so. Grzegorz Nowakowski, associate...

  • NEW YORK, May 24- Five men, including a Washington, D.C. political consultant and a federal employee, were criminally charged on Wednesday with engaging in an insider trading scheme based on leaks from within a federal healthcare agency. Federal prosecutors in Manhattan on Wednesday announced the arrest of political consultant David Blaszczak, founder of...

  • WASHINGTON— The Trump administration is eyeing plans to encourage the sale of public assets, such as airports and bridges, to help pay for a $1 trillion overhaul of the nation's aging infrastructure, an administration official said Wednesday. The Washington Post reported Wednesday that Trump advisers are considering enticing state and local governments to...

  • NEW YORK, May 24- A Washington, D.C., political consultant, a federal employee and three others have been charged with using confidential information from within a U.S. health agency to engage in an insider trading scheme. Federal prosecutors on Wednesday unsealed an indictment in Manhattan federal court against political consultant David Blaszczak, founder...

  • WASHINGTON, May 24- Puma Biotechnology Inc's experimental breast cancer drug reduces the risk of disease recurrence and should be approved, an advisory committee to the U.S. Food and Drug Administration concluded on Wednesday. The FDA is not obliged to follow the recommendations of its advisory panels, but typically does so. Grzegorz Nowakowski, associate...

  • Instead, the Congressional Budget Office "score" of the bill passed earlier this month says that in some cases, people with pre-existing conditions would not be able to purchase comprehensive health insurance at premiums comparable to those under current law, "if they could purchase it at all." That's according to a new estimate released Wednesday by the...

  • May 24- Democrats on a U.S. of House of Representatives panel have asked Deutsche Bank to provide information on whether any accounts connected to President Donald Trump have ties to Russia, adding another dimension to probes into connections between Moscow and Trump. The congressional inquiry also seeks information about a Russian "mirror trading" scheme...

  • The FAA proposed the action last year and made it final on Wednesday. The FAA says the seats can slide forward in crashes and cause passengers' heads to slide down the back of the seats in front of them, hitting their chins on the tray tables. Zodiac, Bombardier and others protested that the FAA underestimated the cost of removing 10,482 seats, which the FAA put at...

  • WASHINGTON— A senior Education Department official in charge of managing federal student aid has resigned ahead of a House hearing, the government said Wednesday. James Runcie submitted his resignation late Tuesday, the Education Department said in a statement. Education Department Press Secretary Liz Hill said the office overseen by Runcie had "a litany of...

  • President Donald Trump have ties to Russia. The congressional inquiry also seeks information about a Russian "mirror trading" scheme that allowed $10 billion to flow out of Russia. Congress remains in the dark on whether loans Deutsche Bank made to President Trump were guaranteed by the Russian government, or were in any way connected to Russia, "the Democrats...

  • Federal prosecutors on Wednesday unsealed an indictment in Manhattan federal court against political consultant David Blaszczak, founder of Precipio Health Strategies; former U.S. Department of Health and Human Services employee Christopher Worrall; and Rob Olan and Ted Huber, listed as employees on the website of healthcare hedge fund Deerfield...

  • President Donald Trump have ties to Russia. The congressional inquiry also seeks information about a Russian "mirror trading" scheme that allowed $10 billion to flow out of Russia. Congress remains in the dark on whether loans Deutsche Bank made to President Trump were guaranteed by the Russian government, or were in any way connected to Russia, "the Democrats...

  • The case, and one about hiring practice at another regulator, the Consumer Financial Protection Bureau that is being heard by the same court on Wednesday, could have major ramifications for the policing of Wall Street. The two court challenges have already emboldened some financial firms to push back against the CFPB and the SEC when they have accused them of...

  • Attorney Joon H. Kim said the defendants used "highly sensitive and confidential information" from the Centers for Medicare& Medicaid Services, part of the U.S. Department of Health and Human Services, to enable three hedge fund workers to make over $3.5 million illegally for their company from 2012 through 2014. The Securities and Exchange Commission said the...

  • WASHINGTON— The Latest on President Donald Trump's budget:. Members of a House appropriations subcommittee are skeptical about President Donald Trump's plan to cut hundreds of millions of dollars from security grant programs managed by the Homeland Security Department. Homeland Security John Kelly says the Trump administration had to make cuts as part of...

  • NEW YORK, May 24- The dollar hovered just above 6-1/ 2- month lows on Wednesday, as investors' focus shifted from U.S. politics to monetary policy ahead of the release of the minutes of the U.S. "The dollar has taken quite a beating over the last month," said Minh Trang, senior currency trader at Silicon Valley Bank in Santa Clara, California. President Donald Trump's...

  • WASHINGTON— Americans pulled back their pace of home-buying in April, as the shrinking number of houses for sale and rising prices are putting them in a bind as their options dwindle. The National Association of Realtors said Wednesday that sales of existing homes declined 2.3 percent last month to a seasonally adjusted annual rate of 5.57 million.