President Barack Obama’s fiscal-year 2015 budget projects the Federal Housing Administration won’t require a taxpayer subsidy this year as the agency’s efforts to shore up its finances have offset losses from defaulted loans.
The Pentagon’s proposed $495.6 billion budget for the coming fiscal year would provide $154 billion for weapons purchases and research, $25 billion less than projected a year ago, according to the Defense Department.
U.S. stocks rose, with the Standard & Poor’s 500 Index rebounding to a record from its biggest loss in a month, as comments from Russian President Vladimir Putin signaled the Ukraine crisis won’t immediately escalate.
Vladimir Putin said he sees no immediate need to invade eastern Ukraine as the Obama administration prepares $1 billion in loan guarantees for the cash-strapped nation and threatens sanctions against Russia.
The U.S. Supreme Court expanded the reach of a federal law enacted in response to the 2001 Enron Corp. collapse, saying it protects people who work for a public company’s contractors, including law firms and auditors.
President Barack Obama sent Congress a $3.9 trillion budget request with increased spending for employment, education and job-training programs to boost the economy, financed partly by trimming tax breaks for upper-income families and some businesses.