Defense investigators raid Siemens Medical in Pa. weeks after firm wins $267M contractPHILADELPHIA — Criminal investigators with the Defense Department searched the headquarters of Siemens Medical Solutions USA on Wednesday in connection with a government contract, weeks after the firm won a $267 million medical-imaging contract. Obama wins fight on halting F-22s, new skirmishes with Boeing on horizonWASHINGTON — The Obama administration has chalked up a quick victory in its drive to kill an expensive jet fighter better suited for the Cold War than Afghanistan, but more skirmishes with job-rich defense contractors and their allies in Congress are just over the horizon. Boeing executive: company would support split contract on $35 billion tanker if Pentagon doesWASHINGTON — Boeing Co.’s top defense executive said Wednesday the company will support splitting a $35 billion contract with rival Northrop Grumman Corp. for new Air Force refueling jets if the Pentagon chooses that approach. Ford expected to lower cash burn rate in first quarter following labor and production cutsDETROIT — Ford Motor Co. is scheduled to report earnings for the first quarter on Friday. The following is a summary of key developments and analyst opinion related to the period. With ups and downs of the markets, financial sector and government get cheers and jeersWASHINGTON — It’s a mixed bag out there in the financial sector. Bank lending has declined, mortgage refinancing has improved. And despite a watchdog agency’s warnings about the government’s bank rescue effort, investors rally at the news that banks might indeed be better off. US Senate Republican leader McConnell demands Obama explain where Gitmo detainees will goSAN JUAN, Puerto Rico — President Barack Obama came under fire Tuesday for including $80 million to close Guantanamo in a massive funding request to fight America’s wars in Iraq and Afghanistan. The $83.4 billion request to Congress was submitted on April 9, when lawmakers were on break over the Easter holidays. Mich. man convicted of defrauding Defense Department caught in Bahamas after 21 years on runRICHMOND, Va. — After 21 years on the run, a Michigan man convicted of defrauding the Defense Department returned to a Virginia courtroom Tuesday to face a charge of failure to appear at his 1988 sentencing, federal prosecutors said. Geithner faces questions about bailout amid warning it could expose taxpayers to lossesWASHINGTON — Treasury Secretary Timothy Geithner acknowledged continued weaknesses in the financial system Tuesday, citing declines in consumer lending and higher costs for credit despite billions of dollars of government money for financial institutions. |
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