The U.S. Congress probably has broad authority to empower regulators to take over big banks and other giant financial companies, even if shareholders and other creditors lose out, analysts said.
President Barack Obama wants the U.S. Congress to send him a sweeping overhaul of the $2.5 trillion U.S. healthcare system by October to help put the struggling U.S. economy on a solid path of growth.
Bank of America Corp Chief Executive Kenneth Lewis has been asked to testify before a congressional committee about when the bank became aware of deteriorating conditions late last year at Merrill Lynch & Co, which prompted a federal bailout.
Days after the makers of Slumdog Millionaire said they had bought an apartment for one of the child actors whose shanty had been demolished, the state's chief minister said he had allotted flats to both child stars.
U.S. Treasury Secretary Timothy Geithner said Thursday that the Obama administration and Congress will be working together to reduce the nation’s deficits once the recovery is underway.
The U.S. House of Representatives voted on Wednesday to approve legislation to curb sudden credit card interest rate hikes and hidden fees, with President Barack Obama expected to sign it within days.
The U.S. Congress on Wednesday gave final approval to a bill that would impose sweeping new limits on the credit card industry, with President Barack Obama expected to sign it into law within days.
The U.S. climate bill is expected to pass Congress this week according to the Chairman of the House Energy and Commerce Committee Henry Waxman who said he thinks he will obtain a majority of votes, Reuters reported.
India's Congress party was expected to appoint key reformers to the new cabinet as financial markets soared on Monday on hopes its sweeping election win would herald a strong coalition government.
Indian Prime Minister Manmohan Singh's ruling coalition won an overwhelming election victory on Saturday, boosting hopes of a stable government as the emerging Asian power faces economic downturn and tensions with Pakistan.
American International Group Inc CEO Ed Liddy met some harsh criticism at a congressional hearing on Wednesday as lawmakers demanded answers on the taxpayer bailout of the giant insurer.
Auto dealers lobbied Congress on Wednesday to try to slow plans by General Motors Corp and Chrysler LLC to cut their ranks.
With General Motors Corp planning to end production of Saturns and Pontiacs at its Delaware plant which employs more than 1,000 people, state leaders are scrambling to win new work at the facility or persuade the company to move other operations to the region.
The CEO of AIG tried to reassure the U.S. Congress on Wednesday that the bailed-out insurer will be able to repay taxpayer aid within three to five years if the economy permits.
The ruling Congress-led coalition was slightly ahead of the opposition Hindu-nationalist alliance in India's general election, but both groups fell short of a parliamentary majority, early projections said on Wednesday.
There is no consensus at this time on the climate bill, said U.S. House of Representatives Majority Leader Steny H. Hoyer said on Tuesday, according to Reuters.
WASHINGTON - U.S. Defense Secretary Robert Gates on Thursday pressed Congress to quickly approve $83.4 billion for the wars in Iraq and Afghanistan and for aid to Pakistan.
Barack Obama's presidency has been a wild ride for the U.S. Congress and lawmakers are bracing for more turbulence when they begin returning on Monday to tackle an array of tough issues from healthcare to energy.
U.S. lawmakers will pass major energy legislation, possibly including measures to address climate change, by the end of this year, a top White House official said on Sunday.
U.S. lawmakers are puzzled by a Pentagon estimate that it would cost $7 billion extra to split a potential $35 billion refueling plane contract between two bidders, and say they may still move forward on such a plan despite Defense Secretary Robert Gates' vehement opposition.
The U.S. Federal Reserve may face uncomfortably close congressional scrutiny unless it can convince lawmakers that its job in the midst of a crisis is much bigger than merely raising and lowering interest rates.
The House and Senate Thursday approved President Obama' ambitious and expensive budget blueprints and endorsed a $3.5 trillion spending plan that would trim Obama's spending proposals for the fiscal year that begins in October.
