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Top News & Analysis Washington DC

  • 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.

  • CoreLogic, a private real estate data provider, also said Tuesday that prices rose 0.3 percent in August from July, the sixth straight monthly gain. Housing prices are rising in most areas, according to CoreLogic.

  • Oct 2- LPL Financial LLC, the largest U.S. independent broker-dealer by revenue, said on Tuesday it landed San Diego- based independent advisory firm Washington Wealth Management LLC with $750 million in client assets.

  • DETROIT-- Chrysler's U.S. sales rose almost 12 percent last month as the company reported its best September in five years. Volkswagen also reported a large sales increase, up 34 percent from a year earlier. "We remain optimistic about the health of the U.S. new vehicle sales industry and our position in it," said Reid Bigland, Chrysler's head of U.S. sales.

  • *New York's top prosecutor opened a new front in efforts to hold banks accountable for the financial crisis by filing a civil lawsuit against JPMorgan Chase& Co, alleging widespread fraud by the company's Bear Stearns unit in the sale of mortgage-backed securities. *The judge overseeing the patent dispute between Apple Inc.

  • WASHINGTON-- The AFL-CIO has endorsed a nationwide consumer boycott of American Crystal Sugar products to protest its 14- month lockout of union workers.

  • *Spain seen requesting bailout, but uncertainty weighs. NEW YORK, Oct 2- The euro continued to strengthen 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- Federal and state officials pledged on Tuesday to bring more cases against misconduct that fueled the financial crisis, after New York sued JPMorgan Chase& Co late Monday over mortgage-backed securities packaged and sold by Bear Stearns.

  • WASHINGTON, Oct 2- Last year's sale from U.S. emergency crude oil reserves has helped battle shrinking capacity or "creep" at the 62 salt caverns in Texas and Louisiana that form the Strategic Petroleum Reserve, the Energy Department's inspector general said on Tuesday.

  • Ralls Corp said when Obama ordered the company last week to divest its projects due to national security risks, he exceeded his power by dictating the terms of the sale, allowing the government to inspect all aspects of its operations and not treating the company equally as required under the law.

  • The two advisers, who started at the same Prudential Securities office in Washington, D.C. in 1997, moved to Wells Fargo& Co's independent broker-dealer on Tuesday. Luts and Greenleigh moved to Citigroup's Smith Barney in 2004 after their old firm, Prudential Securities, was bought by Wachovia.

  • NEW YORK-- Americans are expected to spend more during what's traditionally the busiest shopping season of the year, but they're not exactly ready to shop `til they drop like they have been in the past two years.

  • WASHINGTON, Oct 2- U.S. antitrust regulators found no wrongdoing in a deal made four years ago between German drugmaker Bayer AG and a division of Teva Pharmaceuticals to end patent litigation over the popular Yasmin birth control pill.

  • WASHINGTON-- The federal government on Tuesday threw its support behind a lawsuit against JPMorgan Chase accusing Bear Stearns, the investment bank JPMorgan bought in 2008, of engaging in massive fraud in deals involving billions in residential mortgage-backed securities. Bear Stearns was sold to JPMorgan Chase in 2008..

  • NEW YORK-- Americans are expected to spend more during what's traditionally the busiest shopping season of the year, but they're not exactly ready to shop `til they drop like they have been in the past two years.

  • By Kevin Drawbaugh and Kim Dixon. Here are some questions worth asking Democratic President Barack Obama and Republican challenger Mitt Romney on taxes. Politicians often talk about fixing it, but so far, no Congress or White House has been able to match President Ronald Reagan's historic, bipartisan 1986 tax reform.

  • *U.S. office rents inch up 0.3 percent- Reis report. NEW YORK, Oct 2- The U.S. office market recovery remained stalled in the third quarter as uncertainty over the upcoming federal elections, U.S. tax policy and Europe's fiscal problems crimped job growth, keeping demand for office space limp and rent growth anemic.

  • WASHINGTON, Oct 1- A Kentucky businessman was arrested on Monday and charged with evading $53 million in taxes in a multi-faceted case stemming from an ongoing U.S. investigation of failed Park Avenue Bank.

  • DETROIT-- Interest rates are low, trade-in values are high, and carmakers are rolling out attractive new models in key areas. All of these factors combined to keep auto sales strong in September.