Finance

Factbox: What happens in a U.S. government shutdown?

By Richard Cowan and Susan Cornwell and Amanda Becker and Richard Cowan and Susan Cornwell and Amanda Becker, Reuters

In shutdowns, nonessential government employees are furloughed, or placed on temporary unpaid leave. Workers deemed essential, including those dealing with public safety and national security, keep...
Delaware Sues Opioid Manufacturers, Distributors Over Epidemic

By Nate Raymond, Reuters

(Reuters) - Delaware on Friday became the latest state to file a lawsuit accusing corporations of helping fuel the national opioid epidemic, suing a wide range of companies involved in making,...
Trump's Coal Job Push Stumbles in Most States

By Valerie Volcovici, Reuters

WASHINGTON (Reuters) - President Donald Trump's effort to put coal miners back to work stumbled in most coal producing states last year, even as overall employment in the downtrodden sector grew...
Trump's drug czar nominee withdraws from consideration

By Sarah N. Lynch and Makini Brice, Reuters

WASHINGTON (Reuters) - The U.S. lawmaker who was President Donald Trump's pick for drug czar withdrew on Tuesday after a report he spearheaded a bill that hurt the government's ability to crack down...
U.S. consumer finance agency expected to punish Equifax: lawyers

By Reuters and Patrick Rucker

By Lisa Lambert and Patrick Rucker WASHINGTON (Reuters) - The U.S. consumer finance watchdog agency is expected to punish Equifax for its cyber breach with the wide-ranging powers it has used with...

Congress sends Trump disaster aid, debt limit increase

By Richard Cowan and Amanda Becker, Reuters

WASHINGTON (Reuters) - The U.S. House of Representatives approved a bill to provide disaster aid, extend the debt ceiling and fund the federal government for three months on Friday, delivering on...
Congress Must Raise Debt Ceiling by Mid-October: CBO

By Ginger Gibson, Reuters

WASHINGTON (Reuters) - The U.S. Congress will need to raise the nation's debt limit by early to mid-October to avoid defaulting on loan payments, the Congressional Budget Office said in a report on...
The Five Largest US Banks are Launching Their Venmo 'Killer'

By David Henry and Anna Irrera, Reuters

The U.S. banking industry is about to launch its answer to the popular mobile payments app Venmo, in what is likely to be the biggest change in years in how individuals exchange funds digitally. Over...
Forget Trump, Here's What's Driving Stocks Higher

By Alex Rosenberg, CNBC

It looks like investor hopes about President Donald Trump will go unfulfilled, but stocks will keep rising anyway, according to famed investment strategist Byron Wien. "At the beginning of the year,...
Are the Banks Flashing a Warning Sign for the Economy?

By Jeff Cox, CNBC

Despite high levels of economic confidence expressed by business owners and consumers, one key indicator shows that it has not translated into much action yet. Loan issuance declined in the first...

India's Modi vows to fix broken government, but no big bang reforms

By Sanjeev Miglani and John Chalmers, Reuters

NEW DELHI (Reuters) - Indian Prime Minister Narendra Modi voiced dismay on Friday at the government in-fighting he found on assuming office in May and vowed to fire up the bureaucracy to deliver...
Berkshire Hathaway stock hits new milestone at $200,000

By Luciana Lopez and Jonathan Stempel, Reuters

(Reuters) - Berkshire Hathaway Inc's <BRKa.N> share price on Thursday surpassed and closed above $200,000 for the first time, the latest milestone for a company that Warren Buffett has built...
Wal-Mart cuts forecast as it spends more on healthcare, online

By Reuters

(Reuters) - Wal-Mart Stores Inc cut its full-year profit forecast, citing higher employee healthcare costs and increased investment in its online business. The world's largest retailer, which has 1.4...
Cisco to cut another 6,000 jobs as forecast falls flat

By Marina Lopes, Reuters

(Reuters) - Cisco Systems Inc <CSCO.O> forecast tepid current-quarter results and said it plans to cut another 6,000 jobs, as the network equipment maker works through a transition toward a new...
Ballmer Scores with $2B Purchase of LA Clippers

By RONALD GROVER and Eric Kelsey, Reuters

Steve Ballmer, the former head of Microsoft ( MSFT.O ), completed a $2 billion purchase of the Los Angeles Clippers basketball team on Tuesday, ending an ugly saga involving former owner Donald...

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