A pair of key senators on Thursday urged President Barack Obama to name a permanent regulator for Fannie Mae and Freddie Mac, the mortgage finance giants seized by the government almost two years ago at the height of the financial crisis.
General Motors Co and Chrysler are now on an orderly course a year after their government-brokered bankruptcies, with the Obama administration hopeful GM can seek a public offering of shares this year.
New claims for unemployment benefits slipped last week, but stayed at a stubbornly high level that underscored the labor market recovery was having trouble gaining traction.
Senate Republicans blocked a $30-billion plan to help community banks boost lending to small businesses, dealing a blow to President Barack Obama's election-year battle to reduce unemployment.
Moody's Corp reported a better-than-expected second-quarter profit as a pickup in debt issuance drove an increase in demand for its ratings, but it was cautious on its outlook for this business.
The United States will suffer high unemployment for some time as it slowly recovers from the deep recession that ended in 2009, a former second in command at the Federal Reserve said on Wednesday.
Visa Inc , the world's largest credit and debit card processing network, beat expectations with a quarterly profit of $716 million on Wednesday, as consumers resumed spending.
The U.S. Senate Banking Committee on Wednesday approved the nomination of three new members to the Federal Reserve's powerful board, including Janet Yellen for vice chairman, clearing the way for a final vote by the whole Senate.
The International Monetary Fund has chosen not to call the yuan substantially undervalued, a move that recognizes China's efforts to free up its exchange rate and avoids friction with an increasingly influential shareholder.
General Motors on Tuesday set a price of $41,000 for its electric Chevrolet Volt -- $8,000 more than its nearest competitor, the Nissan Leaf.
Americans by a large majority believe President Barack Obama has not focused enough on job creation, as economic fears threaten Democrats ahead of November 2 elections
Nations must not pull back too quickly on economic stimulus because the global recovery still needs support, a top U.S. Treasury Department official said on Monday.
The man who acquired a solid gold reputation for fixing sticky situations for the U.S. government is facing one of his toughest challenges yet: running BP Plc's $20 billion compensation fund.
The economy is not likely to slip back into recession but letting tax cuts for the wealthiest Americans expire is necessary to show commitment to cutting budget deficits, Treasury Secretary Timothy Geithner said on Sunday.
The U.S. economy is not likely to slip back into recession but letting tax cuts for the wealthiest Americans expire is necessary to show commitment to cutting budget deficits, Treasury Secretary Timothy Geithner said on Sunday.
The Obama administration warned on Friday the U.S. economy had encountered strong headwinds and the country's fiscal challenge remained grim, but it lowered an estimate for the budget deficit this year.
The Obama administration warned on Friday the U.S. economy had encountered strong headwinds and the country's fiscal challenge remained grave, but it lowered an estimate for the budget deficit this year.
Seventeen big banks getting bailouts from taxpayers made ill-advised overpayments to executives in late 2008 and early 2009, but they can't be forced to pay them back, U.S. pay czar Kenneth Feinberg said on Friday.
A U.S. Securities and Exchange Commission watchdog said on Thursday that he will expand his investigation of the agency's fraud suit against Goldman Sachs Group Inc to look into concerns raised about the timing of the firm's $550 million settlement.
American voters overwhelmingly say lowering unemployment is more important than reducing the federal budget deficit, according to a Quinnipiac University poll released on Thursday.
The Obama administration may report somewhat better fiscal news when it delivers its mid-session budget review later this week, but the United States still faces a massive deficit and rising debt.
Higher corporate taxes and Wall Street's quick repayment of a taxpayer bailout could see the projected 2010 U.S. budget deficit fall a bit when the review is released on Friday.
U.S. Treasury Secretary Timothy Geithner said on Wednesday that Elizabeth Warren has the credentials needed to head the new Bureau of Consumer Protection set up as part of a landmark financial reform overhaul.
