Bernanke: Fed ‘well suited’ to oversee largest financial cos.; subdued on consumer protectionWASHINGTON — Federal Reserve Chairman Ben Bernanke told a skeptical Congress Thursday that the central bank is “well suited” to oversee colossal financial companies whose failure could endanger the entire economy. Senate climate bill fails to lift perceptions of US at international global warming talksBANGKOK — The honeymoon appears to be over for the United States at U.N. climate talks. Democrats eye mid-October launch for health care debate in the full House and SenateWASHINGTON — Historic health care legislation could be on the floor of both houses of Congress as early as mid-October as Democrats work to answer President Barack Obama’s call for greater protections for those who have unreliable insurance or no coverage at all. Supreme Court looking at gun control by cities, states; could bring changes in legal limitsWASHINGTON — The Supreme Court could ignite a vigorous new fight over state and local gun controls across the nation when it rules on a challenge to Chicago’s handgun ban. Transportation chief signals goal should put the brakes on drivers texting behind the wheelWASHINGTON — Determined to stop people from texting while driving, the Obama administration plans a campaign similar to past government efforts to discourage drunken driving and encourage the use of seat belts. Sugar beet debate leaves farmers waiting as Colo.’s Boulder County reconsiders biotech cropsBOULDER, Colo. — Famuer Rasmussen Jr. and five other farmers filed what they thought was a routine request to grow genetically modified sugar beets on public land in Colorado’s Boulder County. The county already had allowed genetically altered corn. Rivalries in oil-rich Kirkuk threaten to complicate Iraq’s parliament electionsBAGHDAD — Iraqi lawmakers appear to be snagged again at a familiar impasse: how to settle power-sharing disputes in the oil-rich city of Kirkuk before important national elections. Ecuador president says 1 Indian killed, 40 police wounded in protest over water, mining lawsQUITO, Ecuador — Police on Wednesday battled Amazon Indians protesting laws they believe would encourage oil drilling and mining on their lands, leaving one Indian dead and 40 police and nine Indians wounded, officials said. Indians said two civilians were killed. After Ken Lewis’ departure, next Bank of America CEO must make Merrill deal pay offNEW YORK — Ken Lewis’ legacy as CEO of Bank of America Corp. will likely be determined by whether his successor can do what Lewis couldn’t: prove that the bank’s messy acquisition of Merrill Lynch & Co. was worth the money. 29 police, 9 Indians wounded in clash during protest over Ecuador water, oil and mining lawsLIMA, Peru — Police clashed with Amazon Indians protesting proposed water, oil and mining laws Wednesday, leaving at least 29 police officers and nine Indians wounded, Ecuadorean officials said. Indians said two civilians were killed. Fed Reserve Chairman Bernanke says regulators should prevent the next ‘too big to fail’ firmWASHINGTON — Federal Reserve Chairman Ben Bernanke says federal regulators should be responsible for ensuring that the financial institutions they oversee don’t become so big and unwieldy that their failure could bring down the economy. Hopi lawmakers, Navajo president say environmentalists harming tribes’ economiesFLAGSTAFF, Ariz. — The leader of the country’s largest Indian reservation threw his support behind the neighboring Hopi Tribe, whose lawmakers declared environmental groups unwelcome on the reservation. US financial regulators say G-20 goals for more global coordination worthy but hard to meetWASHINGTON — U.S. financial regulators told Congress on Wednesday that national differences are vexing efforts to make good on pledges by world leaders to establish new international mechanisms to prevent another financial meltdown. Senate delivers stopgap spending bill to Obama, averts government shutdownWASHINGTON — The Senate has passed a spending bill to prevent keep the government running after a midnight deadline — and to raise Congress’ own budget by 6 percent. Bank of America CEO Ken Lewis to retire from troubled bank by end of the yearNEW YORK — Ken Lewis, the embattled CEO of Bank of America Corp., is leaving the company, succumbing to nearly a year of strife that followed his company’s acquisition of Merrill Lynch & Co. With fight ahead, Democrats drop controversial “cap and trade” term and talk energy securityWASHINGTON — Senate Democrats tried out a new catch phrase Wednesday to sell their global warming bill: pollution reduction and investment, or PRI. Health care vote predicted soon by Senate panel; GOP challenges swept aside as emotions riseWASHINGTON — A White House-backed overhaul of the nation’s health care system weathered repeated challenges from Republican critics over taxes, abortion and more on Wednesday, and the bill’s architect claimed enough votes to push it through the Senate Finance Committee as early as week’s end. Meltdown 101: Why do we have so many different bank regulators, and what do they do?WASHINGTON — The financial crisis has renewed the focus on bank regulation. Critics contend the patchwork system contributed to the crisis by allowing some banks to slip through the cracks and others to seek weaker oversight. Supreme Court to rule on gun control by cities, states, could set off rollback in legal limitsWASHINGTON — The Supreme Court says it will take up a challenge to Chicago’s ban on handguns, opening the way for a ruling that could set off a vigorous new campaign to roll back state and local gun controls across the nation. Transportation Department holds summit to find ways of curbing cell phone use by driversWASHINGTON — Driving while distracted is a growing peril in a nation reluctant to put down its cell phones and handheld devices even behind the wheel, the Obama administration declared on Wednesday. Officials said Congress and the public must team up to reduce the danger. Key lawmaker proposes group liability for credit rating agencies to stem conflictsWASHINGTON — A key House lawmaker wants to make credit rating agencies — widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities that triggered the financial crisis — collectively liable for inaccuracies. EPA proposes first-ever permits for greenhouse gases from power plants and factoriesWASHINGTON — Proposed regulations would require power plants, factories and refineries to reduce greenhouse gases by installing the best available technology and improving energy efficiency whenever a facility is significantly changed or built. American Express eliminates inactivity fee from gift cardsNEW YORK — At a time when credit and debit card fees are under fire, American Express Co. said Wednesday it will no longer charge monthly fees on its gift cards. Summary of actions by the Supreme Court on WednesdayThe Supreme Court on Wednesday: Former Moody’s employees lay out misconduct claims as lawmakers aim at rating industryWASHINGTON — Two former Moody’s Investors Service employees detailed allegations of misconduct at the big ratings firm as lawmakers took aim at a credit rating industry they condemned as rife with conflicts of interest and needing reform. EPA to delay 79 mountaintop coal mining permits in 4 states, citing risk to water qualityCHARLESTON, W.Va. — President Barack Obama’s administration put the brakes on 79 applications for surface coal mining permits in four states Wednesday, saying they would violate the Clean Water Act. Conservation groups say EPA violating federal laws with registration of prairie dog poisonKANSAS CITY, Mo. — Two conservation groups are suing the Environmental Protection Agency for its decision to register pesticides that curtail prairie dogs. NRC finds 2 problems with emergency shutdown of NJ plant following July lightning strikeLACEY TOWNSHIP, N.J. — Federal regulators say the emergency shutdown of the nation’s oldest nuclear power plant in July exposed two low-level problems. Transportation Department kicks off effort to prevent drivers from using mobile devicesWASHINGTON — Transportation Secretary Ray LaHood called distracted driving a “menace to society” Wednesday, kicking off a two-day meeting on preventing drivers from using mobile devices behind the wheel. Senators writing health overhaul bill reject anti-abortion language sought by conservativesWASHINGTON — In a vote with far-reaching political implications, senators writing a health care overhaul Wednesday rejected a bid to strengthen anti-abortion provisions in the legislation — which could reach the Senate floor in the next two weeks. |
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