Washington Financial News

Taxpayers are expected to save billions after the Biden administration inked deals with pharmaceutical companies to knock down the list prices for 10 of Medicare’s costliest drugs

Americans stepped up spending at retailers last month by the most in a year and a half, easing concerns that the economy might be weakening under the pressure of higher prices and elevated interest rates

The number of Americans applying for unemployment benefits fell last week, another sign that the job market remains resilient in the face of high interest rates

Russia, invaded over the past 10 days by Ukraine’s forces rolling into Kursk, last saw its borders violated this way only in World War II (by Nazi Germany). This flip in fortunes has stunned not just weary war watchers, who were wondering how long Kyiv could hold up against its bigger adversary, but perhaps Moscow too, given the latter’s sluggish response.

ESPN fired NFL studio host Samantha Ponder and football analyst Robert Griffin III, The Athletic reported Thursday. Ponder and Griffin were dismissed for financial reasons and were the only two on-air personalities to lose their jobs as ESPN prepares to close its fiscal year next month. Both Ponder and Griffin earned seven-figure annual salaries, according to The Athletic. Ponder joined ESPN in 2011 and initially served primarily as a sideline reporter. She became host of «Sunday NFL Countdown» in March 2017, becoming just the third person to hold the job in the show's first 32 years and working alongside, most recently, a panel of former NFL head coach Rex Ryan and retired players Tedy Bruschi, Randy Moss and Alex Smith. Potential replacements for Ponder include «NFL Live» host Laura Rutledge and longtime ESPN personality Mike Greenberg.

Kamala Harris unveils her economic agenda before the US Presidential Election 2024? Derided and attacked for "Kamalanomics" by Donald Trump, the Democrat contender is most likely to call for a ban on food «price gouging,» she may signal a critical view of mergers, and talk about her struggles against large corporations as she announces her economic vision Friday. According to the 'Washington Post', Harris may hold companies responsible for the higher cost of groceries in recent years at her election rally in Raleigh, N.C. She may try to send strong signals to all-important swing state voters.

A top Federal Reserve official warned that the central bank needs to cut its key interest rate before the job market weakened further or the Fed would risk moving too late and potentially imperil the economy

A startup developing a high-tech battery that is seen as a potential game-changer in the booming industry plans to invest $1.4 billion to build its first big plant in North Carolina, according to people familiar with the matter. Natron Energy is one of the few U.S. companies focusing on sodium, an abundant mineral that can produce batteries that are cheaper and safer than the lithium-based batteries that power electric vehicles.

Collective Behaviour, the show spans three-and-a-half decades of her practice. The artist, who reflects on colonial histories of the subcontinent, and draws inspiration from miniature traditions and manuscripts, was in the news recently for vandalism of her work in the US. “At 3 am on July 8, a man with a hammer decapitated an 18-foot sculpture of a woman at the University of Houston.

Former IMF chief economist Kenneth Rogoff discusses the state of the economy following the July CPI report.

California bill that could impose restrictions on artificial intelligence has tech companies, investors and activists scrambling to explain what the first-of-its-kind legislation could mean for their industry in the state. The bill is still winding its way through the state capital in Sacramento. It is expected to reach the California state assembly appropriations committee on Thursday before facing a vote by the full assembly. If signed into law by Gov. Gavin Newsom, the bill would require companies to test the safety of powerful AI technologies before releasing them to the public. It would also allow California's attorney general to sue companies if their technologies cause serious harm, such as mass property damage or human casualties.

Donald Trump spoke on the phone with Israeli Prime Minister Benjamin Netanyahu on Wednesday and discussed the Gaza ceasefire and hostage release deal, Axios reported, citing two U.S. sources. One source told Axios Trump's call was intended to encourage Netanyahu to take the deal, but stressed he did not know if this is indeed what the former president told Netanyahu. The Trump campaign did not immediately respond to a request for comment. Late last month, Netanyahu visited the U.S. and met President Joe Biden, Vice President and Democratic presidential candidate Kamala Harris and Republican former President Trump.

A federal agency says it has recommendations for improving the safety of commercial aviation including air tours and air ambulances

Wholesale price increases in the United States eased in July, suggesting that inflation pressures are further cooling as the Federal Reserve moves closer to cutting interest rates, likely beginning next month

Bahnsen Group managing partner David Bahnsen analyzes the Feds plan to reduce inflation on Varney & Co.

Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September

Vice President Kamala Harris is trying to outmaneuver former President Donald Trump and address old vulnerabilities on her policy positions as she starts to fill in how she would govern if elected in November

The investigation that resulted in the arrests of two Toronto men accused of plotting an attack for ISIS began with a tip from France, sources have told Global News.

Donald Trump and Kamala Harris are in a tax policy arms race, copying and one-upping each other’s proposals in a bid to court key battleground state voting blocs ahead of a looming battle in Washington to rewrite the tax code. 

In the name of consumer protection, a slew of U.S. federal agencies are working to make it easier for Americans to click the unsubscribe button for unwanted memberships and recurring payment services

Three news outlets were recently leaked confidential material from inside the Trump campaign, but have chosen not to reveal any of the details about what they received