Washington Financial News

(Reuters) — White House officials met with UnitedHealth Group (NYSE:UNH) CEO Andrew Witty and others in the industry on Tuesday to discuss a hack at the healthcare conglomerate's tech unit that has disrupted operations across the United States.

severe thunderstorms looms over the central regions of the United States. Stretching from Texas through the Midwest and up to the Great Lakes, millions of residents are on high alert, preparing for the onslaught of yet another multiday bout of severe weather. Commencing on Tuesday with its focal point in Missouri, the impending threat gradually intensifies, morphing into a widespread concern by Thursday. This expansive weather system will cast its shadow over tens of millions of individuals, spanning from the vibrant cityscape of Dallas to the bustling urban sprawl of the Chicago area.

Housing and Urban Development Deputy Secretary Adrianne Todman will serve as acting secretary when Marcia Fudge's resignation takes effect March 22

Quiver Quantitative — The failure of Silicon Valley Bank (SVB) last year came with a hefty price tag, not just for the bank itself, but also for the US banking system at large. A crucial yet overlooked aspect of SVB's collapse was the $285 million in fees charged for prematurely ending emergency financing from the Federal Home Loan Bank (FHLB) system. This fee, necessary to retire billions in financing obtained by SVB in a desperate bid to survive a run on deposits, is the largest of its kind for any bank failure since before the 2008 financial crisis. This situation highlights the significant role of FHLBs in providing emergency lending, even to banks that eventually fail, and brings into focus the ongoing debate in Washington about reforming this Depression-era system initially designed to finance mortgage lending.

India negotiate lower prices for Russian oil as it deepens sanctions on tankers carrying the petroleum above Western price caps, President Joe Biden's energy envoy said on Tuesday. Washington imposed sanctions late last month on Russia's leading tanker group Sovcomflot on the two-year anniversary of Moscow's full scale invasion of Ukraine. It also designated 14 crude oil tankers as property in which Sovcomflot had an interest. That led to concerns in India of a potential dent in Russian oil sales to India, the biggest buyer of Russian seaborne crude, and that the fresh sanctions could complicate efforts by Indian state refiners to secure annual supply deals, Reuters reported late last month.

By David Shepardson

By David Shepardson

Retired nurse Joyce Fleming shares why she decided to return to work due to rising costs.

The U.S. commerce secretary says Washington is constantly assessing the need to expand export controls to stop China from acquiring advanced computer chips and manufacturing equipment that can be used to boost its military

Consumer prices likely rose last month at a pace that would exceed the Federal Reserve’s inflation target, underscoring why the Fed is being cautious as it considers when to cut interest rates and suggesting that inflation will remain a potent issue in...

By David Shepardson

By David Lawder

President Joe Biden’s budget proposal — which calls for sweeping tax increases on corporations and the wealthy — is the opening round of a looming tax fight set to consume Washington next year.

By David Shepardson

By Trevor Hunnicutt and David Lawder

Shortly after Israel launched its sweeping military operation in Gaza in response to Hamas’s Oct. 7 assault, Jake Sullivan, President Biden’s national security adviser, sat down for an hour-long private meeting at the White House with a group of Muslim and Arab-American leaders. They implored the administration to do more to protect Palestinian civilians in the Gaza, as well as the West Bank, where settler violence was escalating.

By Francesco Guarascio

By Jonathan Stempel

By Jamie McGeever

The script at China’s National People’s Congress is pre-determined months before the event, but there had been speculation this week that Beijing might name a new foreign minister. Instead, it seems senior diplomat Wang Yi will continue in the role. The world’s second-largest economy has missed a trick.

President Joe Biden is all-in on calling out “shrinkflation.”