The Obama administration is expected to send Congress legislative language on its proposal to clamp down on banks' risky activities.
The Obama administration reasserted its commitment to banning proprietary trading by banks with draft legislative language on Wednesday, despite signs that Congress is unlikely to adopt such a rule.
The Obama administration reasserted its commitment to banning proprietary trading by banks with draft legislative language on Wednesday, despite signs that the U.S. Congress is unlikely to adopt such a rule.
The two largest U.S. military shipyards warned on Wednesday that the U.S. Navy's 30-year shipbuilding plan funded 13 fewer surface ships in the near term, which would likely result in layoffs across the industry and higher shipbuilding costs.
The top House Republican is attempting to open the way for voters to see debates about U.S. finances and a key report recommending fixes for the budget deficit ahead of November's elections.
U.S. stocks ended little changed on Wednesday as worries about bank regulation and a setback for drug company Pfizer offset signs of improvement in the labor market and services sector.
U.S. banks would be banned from proprietary trading and other large financial firms would face quantitative limits on such activity, according to draft language on the so-called Volcker rule from the Obama administration.
President Barack Obama said on Wednesday it is time to pass his sweeping healthcare overhaul using only a slim Democratic majority in Congress if necessary, saying the issue is too important to be delayed by politics after a year of debate.
U.S. stocks lost gains and were trading little changed on Wednesday as the White House stepped up its efforts to overhaul healthcare and bank regulation, sparking concerns about the potential impact on profits in those sectors.
The following is a transcript of President Barack Obama's prepared statement for a speech on health insurance reform on Wednesday where he urges members of Congress to pass bill within the next few weeks after a year of debate.
President Barack Obama on Wednesday called for Congress to decide upon health insurance reforms with an up-or-down vote in the next few weeks, the clearest indication yet that he favors passing a bill through the reconciliation process.
Republicans have called on President Barack Obama and his fellow Democrats to scrap their legislation overhauling the U.S. healthcare system and start over with some Republican ideas.
Conservative incumbent Rick Perry rode strong anti-Washington rhetoric to a victory over a sitting U.S. senator for the Texas Republican gubernatorial nomination in a race that could be a model in this year's crucial U.S. mid-term congressional elections.
U.S. stock index futures were little changed on Wednesday as investors awaited data on the labor market for clues ahead of a critical employment report and Greece took steps to meet fiscal targets.
A key figure in the battle to revamp U.S. healthcare may soon be the U.S. Senate's little-known, mustachioed and highly respected umpire, Alan Frumin.
President Barack Obama is preparing a final push for a healthcare overhaul and is expected to announce a plan on Wednesday to move the ambitious legislation forward without support from opposition Republicans.
President Barack Obama said on Tuesday he would explore adding more Republican ideas to his healthcare plan, even as congressional Democrats prepared for a final push to pass the overhaul without Republican backing.
Incumbent Rick Perry beat U.S. Senator Kay Bailey Hutchison in a bruising primary election on Tuesday to decide the Republican candidate for Texas governor.
The White House has contacted Massachusetts Institute of Technology Professor Peter Diamond about joining the Federal Reserve's board of governors, Bloomberg reported, citing two people familiar with the discussion.
Congress should not create blanket exemptions from new rules designed to make trading of over-the-counter derivatives more transparent, a commissioner on the top U.S. futures regulator said on Tuesday.
on Tuesday proposed rebates of up to $3,000 to help homeowners pay for the cost of making their homes more energy efficient, a $6 billion program intended to create jobs.
U.S. President Barack Obama made a last-ditch bid on Tuesday to overcome Republican opposition to his stalled healthcare overhaul, saying he was ready to consider several of their proposals for crafting final legislation.
