Search results for

President Barack Obama and Treasury Secretary Tim Geithner have announced stricter rules on executive compensation at banks receiving "exceptional" levels of aid from the federal government. Some executives will have their annual salary capped at $500,000.

Leaders of the Group of 20 nations approved more than $1 trillion of additional resources for the International Monetary Fund and World Bank. They also agreed on a regulatory crackdown that will bring hedge funds and other financial institutions under tighter global supervision.

The U.S. ambassador to Thailand said an American plane filled with relief supplies was ready to take off for Myanmar on Thursday, but the government there revoked permission. U.S. disaster relief specialists are also having trouble getting in, despite their unique and badly needed skills.

Treasury Secretary-nominee Timothy Geithner has told a Senate panel at his confirmation hearing that his failure to pay $34,000 in taxes was a careless mistake. Despite questioning from lawmakers on the issue, Geithner has wide support from both parties.

New government data released Thursday showed an economy that is growing again for the first time in a year. But the economy is receiving much support right now, and no one knows whether it is capable of growing on its own.

The nation's gross domestic product went negative in the third quarter, falling by 0.3 percent. Consumer spending was especially weak, falling more than 3 percent in the period. That's the sharpest drop in spending in 28 years.

The government's latest response to the financial crisis involves taking ownership stakes in financial institutions in order to get credit flowing through the economy again. Treasury Secretary Paulson said he didn't like government ownership of banks, but the alternatives, he said, were "totally unacceptable."

Although the Obama campaign's $66 million in August may not be enough to maintain his advantage over the combined funds of the McCain campaign and the Republican National Committee, liberal 527 groups may steal the spotlight with their anti-McCain ads.

The Federal Reserve kept its target for the federal funds rate, the interest that banks charge on overnight loans, unchanged at 2 percent. It said, however, that strains in financial markets had "increased significantly."

Inauguration Day was so cold, musician Yo-Yo Ma and others recorded their performance two days earlier and played along during Tuesday's ceremony. It was feared the frigid temperatures would crack instruments and break strings. Ma discusses what happened.

The Obama administration has unveiled its plan for overhauling the financial regulatory system. Treasury Secretary Timothy Geithner told lawmakers the administration wants to bring some of the market's most complicated products under federal oversight.

The Labor Department says the economy lost another 539,000 jobs in April. Although that's not a good number, it's better than some of the steeper losses earlier this year. The unemployment rate is at 8.9 percent.

President Barack Obama says up to 9 million struggling homeowners could get help from the housing rescue plan he outlined. The plan commits $275 billion in government funds to the effort and would help some homeowners reduce home payments by refinancing.

The Hardy family goes back generations in a tiny neighborhood called Gerritsen Beach in Brooklyn. For them, Superstorm Sandy has created an extended family reunion. Not only is their small, barely livable home bursting with family members — the storm brought an emotional change, as well.

Venezuela's authoritarian regime has just banned the most popular opposition candidate of standing in next year's election. As recent history has shown, that might not work in their favor.

The archbishop of Canterbury says he is embarrassed by revelations that the Church of England indirectly invested in a payday loan firm that he had pledged to put out of business.

Albert "Tootie" Heath has died at age 88. He played drums with basically all the greats of the 1950s, '60s and beyond and is on the first albums that Nina Simone and John Coltrane made as bandleaders.

The streamer has tried to create an avalanche of appointment television this week. We analyze whether it succeeded.

Opposition candidates unable to register or stand in the election, and now fears that many potential voters will be unable to register at all. Is Venezuela's election turning into a farce?

The story of one Venezuelan torture survivor who has recreated his brutal experience behind bars using virtual reality.