June 3, 2010 at 1:50 p.m.
Filed under:
Airlines,
Airports,
Government,
Transportation
Dow Jones Newswires | Boeing Co. (BA) said Thursday that its
subcontracting team won a U.S. research and development support contract
valued at up to $1.7 billion for upgrading the nation’s air traffic
management system.
Altogether the Federal Aviation Administration has handed out about $4.4
billion in contracts to install a satellite-based traffic management
system in the next decade. Two more contracts are expected to be awarded
under the Next Generation Air Transportation System program, or
NextGen, which has a $7 billion ceiling, making it the largest set of
awards in FAA history.
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June 2, 2010 at 1:31 p.m.
Filed under:
Airlines,
Government
By Julie Johnsson |
Consumers frustrated with deteriorating airline service and rising
fees may soon have their revenge.
Airlines would have to pay up to $1,300 to passengers bumped from overbooked flights and would be required to prominently disclose fees under new passenger-centric rules proposed by the U.S. Department of Transportation.
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June 1, 2010 at 1:15 p.m.
Filed under:
Banking,
Government,
Investigations
Dow Jones Newswires | The inspector general of the Securities and
Exchange Commission, David Kotz, has expanded his investigation of the
agency’s civil-case settlement with Bank of America Corp. over the
company’s acquisition of brokerage Merrill Lynch & Co., CNBC reports
Tuesday.
In his semiannual report to Congress, Kotz also will recommend
disciplinary action against two attorneys on the staff of the SEC’s
enforcement division for their role in the release of unauthorized
information to a Federal Bureau of Investigation agent. CNBC says the
agent was working on an investigation in conjunction with an imprisoned
former short seller the cable network identified as Anthony Elgindy.
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June 1, 2010 at 3:26 a.m.
Filed under:
Energy,
Government
BP’s shares were down 15 percent in early afternoon trading on the London Stock Exchange. Here, Greenpeace demonstrators hang a flag reading “British Polluters” at BP’s headquarters in central London on May 20, 2010. (AFP/Getty Images)
Associated Press | Atty. Gen. Eric Holder Attorney General Eric Holder says federal authorities have opened criminal and civil investigations into the Deepwater Horizon explosion and oil spill.
Holder would not specify Tuesday which companies or individuals might be the targets of the probe. He says federal clean air and pollution laws give him the power to open the investigations.
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May 28, 2010 at 1:43 p.m.
Filed under:
Government,
Jobs/employment
Reuters | The House of Representatives Friday passed a
scaled-back economic-stimulus package of tax breaks and safety net
spending that would raise taxes on fund managers and multinational
corporations.
Democrats say the bill will help bring down the 9.9 percent
unemployment rate, but it comes too late for hundreds of thousands of
Americans who will see their jobless benefits expire starting next week.
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May 25, 2010 at 2:31 p.m.
Filed under:
Government,
Jobs/employment,
Manufacturing
Associated Press | Boeing Co. said Tuesday that it will bring an
estimated 450 jobs and $25 million in annual economic impact to
Michigan if it wins the Pentagon’s contract to build a new fleet of
aerial refueling jets.
The aerospace company said its proposed plane, based on a military
variant of the 767 passenger jet, would include components made by
companies with manufacturing facilities in Michigan. Those include Eaton
Aerospace, General Electric and Honeywell International.
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May 25, 2010 at 1:17 p.m.
Filed under:
Banking,
Economy,
Government
Associated Press | A new document shows three of the Federal
Reserve’s 12 regional banks made a push last month to bump up the
interest rate banks pay the Fed for emergency loans.
The regional banks were in Kansas City, St. Louis and Dallas. They
wanted to boost the discount rate to 1 percent from 0.75 percent. The
rate doesn’t directly affect borrowing costs for Americans.
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May 25, 2010 at 8:10 a.m.
Filed under:
Autos,
Government
Reuters | No definitive decision on German aid for carmaker Opel
should be expected Tuesday, economy minister Rainer Bruederle said,
leaving open the fate of thousands of jobs at the General Motors unit.
The steering committee of Germany’s rescue fund is to meet Tuesday to
recommend whether taxpayers should backstop loans to Opel worth about
$1.6 billion that would finance 8,300 upcoming job cuts.
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May 25, 2010 at 7:55 a.m.
Filed under:
Autos,
Consumer news,
Government
Associated Press | In a rare defeat for President Barack Obama,
the Senate on Monday called for auto dealers to be excluded from the
regulations of a proposed consumer financial protection bureau.
The nonbinding 60-30 vote provides direction to lawmakers as they
assemble broad Senate and House bills setting new, sweeping controls on
Wall Street. The Senate passed its bill last week; the House acted in
December.
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May 20, 2010 at 8:04 p.m.
Filed under:
Chicago executives,
Government,
Markets
Reuters | The U.S. Senate approved a sweeping Wall Street reform bill on Thursday night, capping months of wrangling over the biggest overhaul of financial regulation since the 1930s.
By a vote of 59 to 39, the Senate handed a victory to President Barack Obama, a champion of tighter rules for banks and capital markets following the 2007-2009 financial crisis that led to a deep recession and massive taxpayer bailouts.
May 20, 2010 at 2:26 p.m.
Filed under:
Exchanges,
Government
Reuters | The U.S. Senate voted Thursday to end debate on the biggest overhaul of
financial regulation since the 1930s, allowing a final vote on the bill
later on Thursday or on Friday.
The legislation is one of President Barack Obama’s top domestic
priorities. If passed, it would mean far-reaching changes for the
banking industry affecting profits, banks’ ability to grow and to take
on risk.
The vote to close off debate was 60-40, and the Senate could vote on
the bill’s passage as soon as Thursday, two Democratic Senate aides
said.
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May 20, 2010 at 8:00 a.m.
Filed under:
Economy,
Government,
Jobs/employment
Job listings are posted on a bulletin board in San Francisco, California. (Photo by Justin Sullivan/Getty Images)
Associated Press | The number of people filing new claims for
unemployment benefits in the U.S. unexpectedly rose last week by the
largest amount in three months. The big surge was a setback to hopes
that layoffs were declining. Applications for unemployment benefits
rose to 471,000 last week, up 25,000 from the previous week, the Labor
Department said Thursday. It was the first increase in five weeks and
the biggest jump since a gain of 40,000 in February.
The forecast had been for claims to fall by around 4,000 from the
previous week. The large rise in new claims is evidence of how volatile
the job market remains, even as the economy grows.
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May 19, 2010 at 1:18 p.m.
Filed under:
Consumer news,
Government,
Health care,
Retail
From Reuters | A U.S. House of Representatives panel is investigating personal genetic testing kits like those originally slated this month to be sold by Walgreens. Walgreens, and later CVS, reversed plans to sell the tests after the FDA said it had not approved them.
Get the full story: reuters.com
May 19, 2010 at 1:02 p.m.
Filed under:
Economy,
Government,
Mortgages
Associated Press | Federal Reserve officials have a slightly brighter view of the economy than they did at the start of the year. Fed officials say in a new forecast that they think the economy can
grow between 3.2 percent and 3.7 percent this year. That’s an upward
revision from a growth range of 2.8 percent to 3.5 percent in their
January forecast.
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May 17, 2010 at 1:52 p.m.
Filed under:
Government,
Taxes,
Work culture
Associated Press | A new report from Congress says Social
Security’s big shortfall can be wiped out with just modest changes to
payroll taxes and benefits.
The report by the Senate Special Committee on Aging says Social
Security faces a $5.3 trillion shortfall over the next 75 years. But
the massive government retirement program can be made healthy and whole
through what the committee’s chairman describes as small “tweaks.”
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