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Top News & Analysis Washington DC

  • WASHINGTON, Oct 2- Firms responsible for the 2008 financial crisis will face more government lawsuits, federal and state officials said on Tuesday, a day after New York state sued JPMorgan Chase& Co for fraud over mortgage-backed securities packaged and sold by Bear Stearns.

  • It's not just a matter of keeping up with the times, Duncan said in remarks to the National Press Club. South Korea, which consistently outperforms the U.S. when it comes to educational outcomes, is moving far faster than the U.S. in adopting digital learning environments.

  • *Spain seen requesting bailout, but uncertainty weighs. NEW YORK, Oct 2- The euro rose against the dollar on Tuesday on expectations that a request by Spain for a bailout is imminent, but major stock markets fell on uncertainty of when Madrid will make its request and growing uneasiness over third-quarter earnings.

  • WASHINGTON, Oct 2- The U.S. Supreme Court on Tuesday considered whether the federal government could be liable for money damages by printing confidential credit card information on a customer's receipt, increasing the risk of identity theft.

  • WASHINGTON, Oct 2- U.S. credit terms to hedge funds and other large investors were largely unchanged in the last three months, with lending conditions easing marginally for real estate-backed bond dealers and managed funds.

  • WASHINGTON, Oct 2- A federal judge on Tuesday sentenced Abbott Laboratories Inc to pay $700 million in fines and other costs for illegal marketing of its drug Depakote, in connection with a previously announced settlement, the U.S. Justice Department said. The pharmaceutical maker said in May it would plead guilty to a misdemeanor violation of misbranding.

  • WASHINGTON-- A federal court imposed a judgment of more than $163 million on a woman accused of using computer "scareware" to trick consumers into thinking their computers were infected with viruses and then selling them software to fix the non-existent problem, the Federal Trade Commission said Tuesday.

  • VATICAN CITY, Oct 2- Pope Benedict's former butler, on trial for stealing papal documents, told a Vatican court on Tuesday that during the first weeks of his detention he was held in an isolation room so small he couldn't stretch out his arms and with light on constantly.

  • WASHINGTON-- In a story Sept. 28 about a presidential decision to block a Chinese company's business deal in Oregon over national security concerns, The Associated Press erroneously cited when another Chinese firm, Huawei Technologies, had abandoned plans for its purchase of a U.S. computer company, 3 Leaf Systems.

  • Homeland Security Secretary Janet Napolitano described it as a "logical development in close security, economic and people-to-people" ties between the U.S. and Taiwan.

  • Sales rose for most automakers, led by gains of more than 30 percent for Toyota and Volkswagen. Toyota sales rose 42 percent from a year earlier, while Volkswagen jumped 34 percent from September 2011. Nissan, which has been hurt as Toyota and Honda recover from last year's earthquake in Japan, saw sales fall 1.1 percent.

  • BERLIN, N.H.-- Mitt Romney is a part-time resident of this tiny state, and his fiscally conservative, socially moderate tenure as governor of neighboring Massachusetts once seemed a good match for New Hampshire's independent and libertarian-leaning electorate.

  • *Tells court he had no direct accomplices but influenced by others, malaise in Vatican. VATICAN CITY, Oct 2- Pope Benedict's former butler, facing trial for stealing papal documents, told a Vatican court on Tuesday that he was held in a tiny room with the light on constantly and put under pyschological pressure in the first few weeks of his detention.

  • WASHINGTON-- The government is considering whether American International Group is large enough to threaten the broader financial system, a designation that would subject the bailed-out insurance giant to greater federal oversight.

  • WASHINGTON-- President Barack Obama is designating the California home of labor leader Cesar Chavez as a national monument, a move likely to shore up support from Hispanic and progressive voters just five weeks before the election.

  • WASHINGTON, Oct 2- Tighter military budgets in the United States and Europe reduced the revenues of top weapons makers by one percent in the first half of the year and are likely to continue to depress sales in the full year, a new study by Deloitte LLC showed.

  • HENDERSON, Nev.-- Sometimes all President Barack Obama has to do is look out the window to get a firsthand look at the country's economic woes. This week in this town, the presidential motorcade speeds past opulent homes lining manmade Lake Las Vegas as he heads to the sprawling luxury development where he's preparing for the upcoming debates with Mitt Romney.

  • BAGHDAD-- Iraq on Tuesday signed a $14 million deal with a U.S. consortium to modernize a major port in the country's southern province of Basra in a move aimed at developing key infrastructure neglected during years of war and sanctions.