After the announced drawdown of troops from the Middle East, the Eurozone crisis, and a G-20 summit that lacked spectacular developments, the Obama administration is hoping enhanced economic ties with the Pacific Rim will open a fruitful venue for enduring growth.
Asia-Pacific CEOs will press world leaders on Friday to boost growth and seal a regional trade deal, goals made more urgent by the European debt crisis that has darkened global economic growth prospects.
Asia Pacific countries pressed Europe on Thursday to act more forcefully to quell its debt crisis, setting the tone for a summit overshadowed by growing alarm over the fallout from euro-zone upheaval.
Treasury Secretary Timothy Geithner pressed Europe on Thursday to act more forcefully to quell its debt crisis, setting the stage for an Asia-Pacific summit overshadowed by euro-zone upheaval.
The fall of Jon Corzine, a prominent figure with a toehold in the worlds of both finance and politics, is not only an issue for himself, but for one of the men who likely sought his advice and support on a regular basis, President Barack Obama. Perhaps more importantly, it follows a trend that has dogged the president since 2010, as, due to a variety of causes, many of the people close to Wall Street he had previously sought out have later found themselves uninvited to tea in the Rose Garden.
White House officials bristled on Thursday at the suggestion U.S. power within the G20 had been diminished by budget woes back home, as Europe looked toward an economically self-confident China for help.
In early April, Jon Corzine was in a tough spot. MF Global, the company he had run for the previous year, was about to post a fourth-quarter loss, marking its fourth successive fiscal year of red ink.
The Obama administration and the regulator for Fannie Mae and Freddie Mac are expected to unveil new steps to help distressed homeowners in the next week or two, a senior congressional aide said on Thursday.
In an attempt to further distance himself from his rival, former Massachusetts Gov. Mitt Romney, Texas Gov. Rick Perry said he will soon lay out details of his flat tax plan.
Republican presidential candidate Rick Perry said on Wednesday he will propose a flat tax as part of an overhaul of the U.S. tax code as he seeks to claw his way back to the top tier of the 2012 race.
Under the proposed terms of the settlement -- which could total $25 billion -- banks would get a broader relief from potential state civil lawsuits in exchange for refinancing underwater loans, those mortgages where borrowers owe more than their homes are worth, sources said.
The following are highlights from a Senate Small Business Committee hearing on Tuesday with U.S. Treasury Secretary Timothy Geithner testifying on the Small Business Jobs Act of 2010.
Treasury Secretary Timothy Geithner said on Tuesday the country's tax code was riddled with special preferences but it was not possible to fix the system before the end of the year.
The chief public finance official of the world's largest economy said Sunday that he sees a ray of light in Europe's most recent effort to stop its sovereign debt crisis. U.S. Treasury Secretary Timothy Geithner, while attending a Group of Twenty (G20) meeting in Paris, said he is encouraged by the latest effort to address the crisis.
G20 finance ministers and central bank governors put strong pressure on euro zone leaders at a two-day meeting in Paris to come up with a convincing solution to the bloc's debt crisis and avert the risk of a fresh global recession.
U.S. economic growth has gained some strength, but remains too slow, and it would benefit from passage of a package of job proposals that congressional Republicans have blocked, Treasury Secretary Timothy Geithner said Saturday.
Economic growth has gained some strength but remains too slow and would benefit from passage of a package of job proposals that congressional Republicans have blocked, Treasury Secretary Timothy Geithner said on Saturday.
The world's leading economies kept the pressure firmly on Europe to sort out its debt crisis on Saturday with the sense of urgency to be reflected in a communique at the end of a G-20 finance chiefs' meeting.
Stocks rose on Thursday after the European Central Bank launched fresh liquidity measures to help banks weather the euro zone's debt crisis, easing one of the major concerns overhanging markets.
U.S. Treasury Secretary Tim Geithner warned Republicans about delaying the confirmation of a director to lead the Consumer Financial Protection Bureau.
New claims for unemployment benefits rose modestly last week but hovered near levels normally associated with improving labor market conditions, in a hopeful sign for the struggling economy.
While fear fosters headlines, cash is what creates stories. And cash is the route the European Central Bank has chosen to go.
The following are highlights from a House Financial Services Committee hearing on Thursday with U.S. Treasury Secretary Timothy Geithner testifying on the Financial Stability Oversight Council Annual Report to Congress.
New claims for unemployment benefits rose modestly last week but hovered near levels normally associated with improving labor market conditions, a hopeful sign for the struggling economy.
Europe's worsening debt crisis could significantly damage the U.S. economy, Treasury Secretary Timothy Geithner warned on Thursday as he urged Europe to shore up its bailout fund.
Finance Minister Jim Flaherty voiced cautious optimism on Wednesday that Canada would be granted an exemption from an onerous U.S. tax reporting law that he called an inefficient use of capital.
Some large U.S. banks would have stronger capital bases to better deal with today's market stresses had regulators not relaxed bailout repayment criteria in late 2009, a new government audit showed on Friday.
U.S. businesses should support the role of multilateral development banks in trying to bolster global growth because their efforts help boost export markets, U.S. Treasury Secretary Timothy Geithner said on Tuesday.
It is in U.S. business' own interest to support the role of multilateral development banks as they try to bolster global growth, Treasury Secretary Timothy Geithner said on Tuesday.
Euro-zone officials are working to magnify the firepower of the region's rescue fund, European Central Bank policymakers said on Monday, while President Barack Obama piled on pressure for Europe to staunch a sovereign debt crisis that threatens the world economy.