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California nears financial meltdown

California's government risks a financial "meltdown" within 50 days in light of its weakening May revenues unless Governor Arnold Schwarzenegger and lawmakers quickly plug a $24.3 billion budget gap, the…

Feds find few signs of economic recovery

The slumping US economy is showing only spotty signs of recovery, with overall conditions still weak, the Federal Reserve said in its Beige Book report Wednesday.

The central bank…

New Chrysler, same as old Chrysler?

Chrysler may have been granted a fresh start, but it still faces old problems: how to sell enough cars and realign its fleet away from the trucks and SUVs consumers…

Gunman opens fire at Holocaust Museum

An 88-year-old gunman with a violent and virulently anti-Semitic past opened fire with a rifle inside the crowded U.S. Holocaust Memorial Museum on Wednesday, fatally wounding a security guard before…

Pentagon riddled with conflicts of interest

Pentagon employees have received millions of dollars in free travel and lodging from foreign countries, trade groups and companies with an interest in shaping policies or doing business with the…

Obama plans new curbs on Wall Street pay

An up and coming Wall Street executive might want to hold off on buying that condo in Aspen. The Obama administration is ready to issue broad new guidelines that would…

With hurdles cleared, Chrysler ready for sale

Chrysler was a step closer to emerging from bankruptcy protection Wednesday, a day after opponents of the automaker's planned partnership with Italy's Fiat exhausted their appeals in an effort to…

Banks set to repay government

Ten big US banks got approval Tuesday to repay 68 billion dollars in capital from the Treasury, in the latest sign the ailing financial sector is standing on its own…

First Gitmo detainee in U.S. for trial

U.S. authorities have brought the first Guantanamo Bay detainee to the United States, flying him into New York to face trial for bombing U.S. embassies, the Justice Department said Tuesday.

Court to judges: Avoid appearance of bias

The Supreme Court ruled Monday that elected judges must step aside from cases when large campaign contributions from interested parties create the appearance of bias.

By a 5-4 vote…