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...

South China Sea tensions rise as Vietnam says China rammed ships

By Nguyen Phuong Linh and Michael Martina, Reuters

HANOI/BEIJING (Reuters) - Vietnam said on Wednesday a Chinese vessel intentionally rammed two of its ships in a part of the disputed South China Sea where Beijing has deployed a giant oil rig,...
Obama health nominee's first task? Ward off new crises

By David Morgan, Reuters

WASHINGTON (Reuters) - Sylvia Mathews Burwell, President Barack Obama's nominee for U.S. health secretary, will need all her skills as a crisis manager to steer the law known as Obamacare away from...
Insight: Pimco's bad bets on emerging markets add to firm's troubles

By Jennifer Ablan and Guillermo Parra-Bernal, Reuters

NEW YORK/SAO PAULO (Reuters) - Betting on emerging markets has led to losses for many over the past year - but among big investors few got the timing of their wagers as wrong as Pacific Investment...
Minnesota Senate advances medical marijuana bill

By Reuters

MINNEAPOLIS (Reuters) - Minnesota senators on Tuesday advanced a bill that would make physician-prescribed medical marijuana legal for a broad range of patient suffering, joining more than 20 other U...
Alibaba files for what may be biggest tech IPO

By Alexei Oreskovic and Deepa Seetharaman, Reuters

SAN FRANCISCO (Reuters) - Alibaba gave investors a closer look at the scale and growth of the Chinese e-commerce juggernaut in an initial public offering (IPO) prospectus filed on Tuesday, the first...

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