Despite millions in donations, Afghan students still waiting for their textbooks

KABUL — Day laborer Sayed Sekander spent more than half a day’s pay on textbooks for his third-grade son, stuffing them into a dirty rice sack to take home. He will wait before buying any for his two daughters.

With ups and downs of the markets, financial sector and government get cheers and jeers

WASHINGTON — 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 Bancorp’s 1st-qtr earnings decline 61 percent on rising loan losses but beat expectations

NEW YORK — U.S. Bancorp said Tuesday its first-quarter profit fell 61 percent as it more than doubled its provision for loan losses and took charges tied to securities losses. However, the bank still beat analysts’ expectations.

UnitedHealth earnings fall on decline in investment income, shrinking margins but top views

INDIANAPOLIS — UnitedHealth Group Inc. topped analyst expectations when it reported a slightly smaller first-quarter profit Tuesday, but company leaders say the sour economy is offsetting some of the gains the health insurer made.

Banks still broken, Geithner tells impatient overseers as they press for timetable, costs

WASHINGTON — America’s banks are still broken despite all their bailout billions, Treasury Secretary Timothy Geithner told impatient rescue overseers Tuesday as they pressed him on when things will get better and how much it will cost. A bleak new report estimated U.S. banks and other financial institutions could lose a stunning $2.7 trillion in all.

Banks still broken, Geithner tells impatient overseers as they press for timetable, costs

WASHINGTON — America’s banks are still broken despite all their bailout billions, Treasury Secretary Timothy Geithner told impatient rescue overseers Tuesday as they pressed him on when things will get better and how much it will cost. A bleak new report estimated U.S. banks and other financial institutions could lose a stunning $2.7 trillion in all.

Caterpillar reports $112M loss in 1Q on layoff charge, weaker sales amid faltering economy

PITTSBURGH — Heavy equipment maker Caterpillar Inc. reported its first quarterly loss in 17 years on Tuesday, hurt by plunging sales and the cost of laying off thousands of workers. It also said the Obama administration should have allocated more money for roads, bridges and other public works under its stimulus plans.

Senator says Medicare program to focus on ‘wellness’ to prevent needless hospital stays

WASHINGTON — Older Americans could see big changes in Medicare as a result of a health care overhaul, lawmakers and experts said Tuesday as Congress began working on the sweeping legislation.