×

Top News & Analysis Washington DC

  • WASHINGTON, Oct 10- JPMorgan Chase& Co Chief Executive Jamie Dimon said his company has lost up to $10 billion as a result of the government asking him to buy teetering Wall Street firm Bear Stearns during the financial crisis.

  • *Sources said Germany opposed the $45 billion aerospace merger. PARIS/ BERLIN/ LONDON, Oct 10- EADS and BAE Systems called off the world's largest defence and aviation merger on Wednesday, and pinned the blame on Germany for wrecking the $45 billion deal.

  • WASHINGTON, Oct 10- It's time to watch Washington to see just how bad your New Year's eve is going to be. Beginning on January 1, there's a new 3.8 percent surtax on investment income for people earning more than $200,000.

  • WASHINGTON-- Stronger housing markets helped boost economic growth at the end of the summer in nearly every region of the United States, according to a Federal Reserve survey released Wednesday. The Fed said growth improved in 10 of its 12 regional banking districts from mid-August through September, while leveling off in one region and slowing in another.

  • WASHINGTON-- Nearly all regions of the United States are reporting that stronger housing markets have helped boost economic growth since the middle of August, according to a survey by the Federal Reserve. The Fed says growth improved in 10 of its 12 regional banking districts, while leveling off in one region and slowing in another.

  • WASHINGTON-- Thousands of motorists may be driving cars and trucks installed with dangerous counterfeit bags and they should have them replaced at their own expense, the Obama administration warned Wednesday.

  • WASHINGTON-- Four years ago, Joe Biden was careful not to appear overly aggressive in his vice presidential debate with Sarah Palin, then a newcomer to the national stage. Now, as he prepares to debate Paul Ryan, a 14- year House veteran and the top Republican budget writer, Biden is less concerned about looking like a bully.

  • WASHINGTON-- Supreme Court justices sharply questioned the University of Texas' use of race in college admissions Wednesday in a case that could lead to new limits on affirmative action. Justice Anthony Kennedy, whose vote could be decisive, looked skeptically on Texas' defense of the program. "

  • House Majority Leader Tom DeLay told an appeals court Wednesday that the onetime GOP heavyweight's efforts to influence Texas elections may have been distasteful but weren't illegal.

  • WASHINGTON, Oct 10- The chief executive of JPMorgan Chase& Co, Jamie Dimon, waded into the U.S. fiscal debate on Wednesday when he said he was willing to pay a higher individual tax rate while calling for lower corporate taxes so U.S. business can compete in a global economy.

  • WASHINGTON, Oct 10- JPMorgan Chase& Co Chief Executive Jamie Dimon said his company has lost up to $10 billion as a result of the government asking him to buy teetering Wall Street firm Bear Stearns during the financial crisis. "I'm going to say we've lost $5 billion to $10 billion on various things related to Bear Stearns now.

  • WASHINGTON, Oct 10- The chief executive of JPMorgan Chase& Co said he should have caught the " London whale" derivatives trades that resulted in a multibillion-dollar loss for the bank. So far, JPMorgan has estimated its total trading loss at $5.8 billion.

  • *Equifax pays $393,000; Direct Lending $1.2 million. WASHINGTON, Oct 10- Consumer credit rating company Equifax Inc has agreed to pay $393,000 to settle allegations that it improperly sold information on consumers who had fallen behind on their mortgages, the Federal Trade Commission said on Wednesday.

  • WASHINGTON, Oct 10- U.S. wholesale inventories rose as expected in August while sales at wholesalers posted the first gain after three consecutive months of decline, according to government data released on Wednesday. Total wholesale inventories advanced 0.5 percent to $487.5 billion, the Commerce Department said.

  • WASHINGTON-- As Bain& Co. head in the early 1990 s, Mitt Romney presided over the corporate strategy firm's expanding operations into China and Russia, helping their initial attempts to move into the world's free market system. In his campaign, China and Russia are prime targets for criticism.

  • WASHINGTON, Oct 10- The number of U.S. job openings fell slightly in August, a troubling sign for a labor market that is recovering at a painfully slow pace. Job openings- a measure of labor demand- dropped to 3.56 million from 3.59 million in July, the Labor Department said on Wednesday in its monthly Job Openings and Labor Turnover Survey.

  • NAGOYA, Japan, Oct 10- A Boeing Co official said the planemaker has its sprawling global supply chain under control for its lightweight Dreamliner jet and plans to ratchet up production, a jump in output a Japanese supplier said could expose new supply bottlenecks.

  • WASHINGTON-- U.S. employers advertised slightly fewer jobs in August than July, while they filled the most positions in three months, offering a mixed signal on the job market. The Labor Department said Wednesday that job openings dropped by 32,000 to 3.56 million in August. July's openings were also revised lower.

  • AKRON, Ohio-- Republican Mitt Romney is making a fresh bid for Ohio voters, trying to use post-debate momentum to make up ground in a state that has been a mainstay of GOP presidential candidates and could help President Barack Obama hold onto the White House. We're going to do it here in Ohio. "

  • WASHINGTON-- U.S. wholesalers increased their stockpiles in August and their sales rose for the first time in four months. The Commerce Department said Wednesday that wholesale stockpiles grew 0.5 percent in August after a 0.6 percent increase in July.