CONGRESS

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Congress to probe Toyota recalls

Congressional investigators on Thursday sought documents on Thursday from Toyota Motor Corp and U.S. safety regulators about a pair of safety recalls the automaker was racing to address.

Exxon-XTO merger draws scrutiny from Congress

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Several Democratic lawmakers on Wednesday expressed concern that the merger of Exxon Mobil and XTO Energy would reduce competition in the oil and gas industries and increase the use of a controversial drilling technique that could pollute water supplies.

Congress makes job creation top 2010 priority

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Members of the U.S. Congress begin 2010 scrambling to reduce the double-digit U.S. jobless rate, knowing their own jobs will be at stake in the November election if they fail to deliver.
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Pelosi says Congress close to health deal

U.S. House of Representatives Speaker Nancy Pelosi said on Wednesday congressional Democrats were close to agreement on merging their healthcare bills but still faced challenges in blending the two approaches.
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Congress 'studying' hacked Global Warming emails

U.S. congress has begun investigating climate scientists whose emails and documents were hacked into to see if their global warming theories have misrepresented the truth behind the cause of climate change.
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Congress Probes Global Warming Emails

U.S. congress has begun investigating climate scientists whose emails and documents were hacked into to see if their global warming theories have misrepresented the truth behind the cause of climate change. Investigators have begun studying the 1,079 e-mails and over 3,800 documents that were hackers stole last week from the Climate Research Unit (CRU) at East Anglia University in the U.K, Rep. Darrel Issa from California told the Wall Street Journal.
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Big Oil to Congress: Expand offshore drilling

Executives from two major oil companies told Congress on Thursday that the U.S. government should open more offshore areas to oil and natural gas drilling so America can rely less on foreign suppliers.
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Congress urged to combat China trade practices

The United States must combat China's trade-distorting industrial and currency policies with U.S. trade laws and by using the World Trade Organization, a congressional advisory body said on Thursday.
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Financial reforms grind forward in Congress

The U.S. Congress edged closer on Wednesday to creating new government powers to break up giant financial firms, which Europe is already doing, while a U.S. derivatives market crackdown got more complicated.
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Congress panel backs big bank break-up power

The U.S. House Financial Services Committee voted on Wednesday to approve a proposal that would empower government regulators to break up large financial firms that threaten economic stability.
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Banks sense danger, warn Congress on breakup power

Some of the world's largest financial firms on Monday urged a top U.S. lawmaker not to pursue big bank break-up legislation, an idea attracting interest in Congress and causing alarm on Wall Street.
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Aid for jobless, homebuyers clears Congress

The U.S. Congress approved more aid for jobless workers and broadened tax breaks for homebuyers and businesses on Thursday and sent the measure to President Barack Obama to sign into law.
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Merkel to press US on climate in speech to Congress

German Chancellor Angela Merkel is expected to urge the United States to take bold action to combat global warming in a speech to a joint session of Congress on Tuesday, a month before a U.N. climate summit.
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Obama too big to fail plan blasted in Congress

The Obama administration's new proposal for tackling financial risk in the U.S. economy, unveiled just two days ago, came under attack on Thursday from Congress and regulators, with questions raised about its funding and scope.
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Obama's too big to fail plan blasted in Congress

The Obama administration's new proposal for tackling financial risk in the U.S. economy, unveiled just two days ago, came under attack on Thursday from all sides, with critics targeting its funding and scope.
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Obama financial reforms advance in Congress

The Obama administration made gains on Tuesday in its push for U.S. financial reform, unveiling a landmark bill to tackle systemic risk in the economy and winning congressional committee approval for a measure to expose hedge funds to more government scrutiny.
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Bernanke Prods Congress for Financial Reform

Federal Reserve Chief Ben Bernanke, seeking policy solutions to manage financial risks as the nation exits a severe economic crisis, on Friday stressed the critical need for Congress take action to tighten finance laws and give greater powers to the government's financial supervisors.
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Banks blasted by Congress, regulators in U.S., UK

Big banks took a beating from government on Thursday, both in the U.S. Congress where lawmakers backed tougher industry rules, and from U.S. and UK regulators who moved aggressively to restrain bankers' pay.
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Congress cranks up pressure on insurance industry

Democrats in the U.S. Congress moved on Wednesday to repeal the health insurance industry's exemption from antitrust laws, cranking up the pressure in a growing battle over President Barack Obama's healthcare reform plans.
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Congress to probe compensation at AIG, others

Congress will soon probe executive compensation at companies such as American International Group Inc and Bank of America Corp receiving significant taxpayer funds, the chairman of the House Oversight and Government Reform panel said on Wednesday.

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