The latest coverage of the banking and financial sectors.
By David R. Sands - The Washington Times
The Obama administration increasingly finds itself on the outside looking in as Canadian officials announced Thursday plans to apply for membership in the Asian Infrastructure Investment Bank, the first North American country to join the China-founded development bank. Published August 31, 2016
Many of the same centrist Republicans who complained about conservatives stabbing the GOP in the back on congressional procedures are behind the effort to circumvent their own leaders and force a vote on the divisive Export-Import Bank.
A conservative group is thanking House Republicans who spurned a bid by centrist GOP members and nearly all Democrats to force a vote to revive the Export-Import Bank, an obscure credit agency that is slowly dying off amid conservative complains it handed out "corporate welfare" for far too long.
Emerging from a dust cloud of political chaos in the House, a bipartisan coalition said Friday it had mustered enough support to bring back the federal Export-Import Bank, an obscure credit agency that expired after top conservatives accused it of handing out "corporate welfare" to companies that didn't need it.
China's central bank on Wednesday devalued the nation's currency for a second consecutive day, sending more shock waves through East Asian markets.
Buffeted by scandals, squeezed profits, new competitors and a disorienting technological revolution, some of the world's biggest banks are going on a radical diet, shedding thousands of workers and shaking up the boardroom in a bid to stay profitable and relevant in a fast-changing financial landscape.
Sen. Elizabeth Warren of Massachusetts is calling on President Obama to make a proposed trade deal with Pacific Rim nations public before Congress decides whether to press forward on it.
Democrats are "overwhelmingly" opposed to both fast-track trade authority and to the Asian trade deal the administration is negotiating, exposing doubts about President Obama from within his own ranks — and an ever-shrinking number of lawmakers even willing to be persuaded by him.
Count the American head of the World Bank as one more major player ignoring Obama administration concerns to say he welcomes the creation of a major new China-sponsored development bank to fund infrastructure projects across Asia.
U.S. efforts to head off a new China-sponsored development bank for the booming Asia region ended in abject failure this week as organizers announced nearly four dozen countries — including some of America's closest Asian and European allies — have applied to membership, amid growing criticism of how the Obama administration handled the entire episode.
The rush to join the China's new development bank for Asia has become a stampede, with even longtime U.S. allies such as Georgia, South Korea, Australia and even Taiwan now saying they are ready to join despite the clear reservations of the Obama administration.
In early 2008 liberal icon Edward M. Kennedy blessed Barack Obama's long shot presidential campaign, declaring the freshman Illinois senator the next great progressive leader in a symbolic passing of the torch.
Sen. Elizabeth Warren of Massachusetts should reconsider her stated vow that she is not running for president in 2016, the Boston Globe editorial board said.
The battle of wills between Beijing and Washington over a China-sponsored development bank for Asia is turning into a rout, and the Obama administration has found itself isolated and embarrassed as its top allies lined up this week to join the proposed Asian Infrastructure Investment Bank.
Sen. Elizabeth Warren hijacked a Senate committee hearing on recreational hunting, fishing and shooting Thursday to advance her crusade against big business, calling for new laws to expose the details of legal settlements between the government and corporations accused of wrongdoing.
Nearly seven years after it was bailed out from the housing market crash, mortgage giant Fannie Mae is still engaging in behavior that could precipitate future financial crises and taxpayer losses, a government watchdog warns in a report to be released Wednesday.
Roughly 6.5 million people with active Social Security numbers are age 112 and older, according to an audit by the Social Security Administration's inspector general.
Academy Award-winning actress Emma Thompson and her husband, Greg Wise, say they're mulling a protest to withhold their personal tax dollars from the government, until HSBC officials connected to the bank's latest swindling scandal are sent to prison.
Leading Wall Street regulator Ben Lawsky, who heads up the New York Department of Financial Services, warned that the United States should be preparing for a massive cyberattack on banks -- that it's inevitable, and looming.
The U.S. economy is underperforming, and the Federal Reserve's low interest rate policies won't reinvigorate it.
It was — and always is — enlightening to be outside the D.C. Beltway, where manufacturers grapple not only with increasing and sustaining sales, but with the real-world implications of Washington's latest action or inaction.
