Four of the largest banks in the United States announced with Treasury Secretary Henry Paulson that they would be starting a U.S. market for covered bonds, to create an alternative way to provide mortgage loans.
Vanda Pharmaceuticals Inc. is objecting to a decision by U.S. regulators to reject its application to sell a drug called iloperidone for schizophrenia. The company's market value fell $2.46, or 73 percent, to 90 cents in the Nasdaq Stock Market on Monday.
A record deficit of nearly $490 billion is expected for the fiscal year beginning Oct. 1, according to a new report, as a result of the sluggish economy and costs related to the $168 billion fiscal stimulus package passed by Congress.
The Federal Communications Commission is expected to rule this week that Comcast cannot slow its customers’ Internet traffic, which the company had been doing in an effort to prevent the sharing of videos online via file-sharing services such as BitTorrent.
President Bush met with Pakistani Prime Minister Yousaf Raza Gilani and praised the country's commitment to fighting the Taliban, just hours after a U.S. missile strike hit a militant outpost in the region.
Three blasts caused by suicide bombers killed at least 25 people and wounded 73 in Baghdad in the midst of a major religious event that is expected to attract about a million people to the northwestern part of the city.