Banking & Finance
The latest coverage of the banking and financial sectors.
President Biden has devoted the past several weeks to promoting the positive impacts of his policies — but his efforts have yet to meaningfully register with the public.
Sen. Joe Manchin III single-handedly controlled the fate of the Inflation Reduction Act, the giant budget-climate law Democrats rammed through Congress last year. Despite the conservative West Virginia Democrat’s pivotal role, Mr. Manchin runs hot and cold on the law — emblematic of the complicated politics of the legislation.
The Congressional Budget Office revised its projections Tuesday, saying it now expects the federal government to run a $1.7 trillion deficit this year as inflation hits Uncle Sam hard.
The electric bus maker Proterra has filed for Chapter 11 bankruptcy, a little more than two years after the California-based public company received praise from President Biden for being the future of the EV industry.
Over the past year, inflation in the United States has tumbled from 9% all the way to 3%, softening most of the price pressures that have gripped the nation for more than two years.
Trucking company Yellow Corp. has declared bankruptcy after years of financial struggles and growing debt, marking a significant shift for the U.S. transportation industry and shippers nationwide.
A 65-year-old D.C. man was found guilty Thursday of armed robbery and felony threats for using a bomb threat to rob a District bank in October.
Embattled Texas Attorney General Ken Paxton, awaiting the start of a separate impeachment trial, is set to appear in a Houston courtroom Thursday to discuss his nearly decade-long delayed trial on securities fraud charges.
Fitch Ratings’ downgrade of the federal government’s credit rating is not just an embarrassing black eye for Washington; it also will hit the government — and possibly average Americans — in the wallet, economists say.
Iran announced a nationwide two-day holiday because of increasing temperatures, state media reported Tuesday.
Fitch Ratings has downgraded the United States government’s credit rating, citing rising debt at the federal, state, and local levels and a “steady deterioration in standards of governance” over the past two decades.
Lebanon’s embattled central bank governor stepped down on Monday under a cloud of investigation and blame for his country’s economic crisis as several European countries are probing his alleged financial crimes.
Flashing a thumbs-up to his well-wishers, a police officer who was critically wounded while responding to a mass shooting at a Louisville bank in April was discharged from the hospital on Friday after enduring multiple surgeries and intensive therapy.
Florida mom Catherine Russo says “intense” is the only word to describe rising back-to-school prices as her son prepares to start first grade in a Palm Beach County public school.
The U.S. economy accelerated unexpectedly to a 2.4% annual growth rate from April through June, showing continued resilience in the face of steadily higher interest rates resulting from the Federal Reserve’s 16-month-long fight against inflation.
Confidence in big business among Republicans has fallen to a record low during the Biden administration, a new Gallup survey has found.