Financial markets are more at risk from policy makers getting spending and interest rates wrong than rising oil prices, according to investment strategists in Scotland overseeing about 530 billion pounds ($850 billion).
The Navy ordered a review of security at U.S. military facilities as Congress pressed the Pentagon to make public a report showing lapses in the way private contractors receive permission to work on bases.
John Thain, who sold Merrill Lynch & Co. for a premium at the height of the financial crisis, has transformed the once-bankrupt lender CIT Group Inc. into an enticing takeover target for some of the largest banks.
Democratic U.S. Representative Tim Ryan’s district includes Youngstown and part of Akron, two Ohio cities once dominated by steel and rubber mills. He’s concerned that Washington’s debt-ceiling deal will hurt an economy that’s already struggling.