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Stock market continues to tank over budget impasse

US stocks fell Thursday as continued concern about the US budget impasse, underscored by a dire Treasury report, and weak US services sector data offset other upbeat economic data. About 55 minutes into trade, the Dow Jones Industrial Average tumbled 121.41 points (0.80 percent) to 15,011,73. The broad-based S&P 500…

Treasury Department: Legally-married same sex couples qualify to file joint taxes regardless of their state

The US government on Thursday announced that legally married gay couples will be treated the same as married couples for federal tax purposes. The decision applies to legally married same-sex couples whether they live in a state that recognizes the marriage or not, the US Treasury Department and the Internal…

U.S. hits Iran ministry for ties to Syria crackdown

WASHINGTON — The United States hit Iran’s intelligence ministry with sanctions Thursday, claiming it had supported Syria’s crackdown on dissidents, fueled repression at home and aided Al-Qaeda. The US Treasury Department said Iran’s Ministry of Intelligence and Security supported the Syrian regime as it “continues to commit human rights abuses”…

U.S. sanctions five over Saudi ambassador plot

WASHINGTON — The US Treasury Department on Tuesday announced measures against five individuals allegedly connected to a plot to assassinate the Saudi ambassador to the United States. The five include Manssor Arbabsiar and Gholam Shakuri, two men charged by the Justice Department with the alleged plot to kill ambassador Adel…

Senators target China with currency bill

WASHINGTON — US senators unveiled legislation Thursday to punish China over its alleged currency manipulation, promising angry American voters to put an end to Beijing’s “economic murder” of US jobs. The measure aims to make it harder for the US Treasury Department to avoid labeling Beijing a currency cheat, triggering…

JPMorgan fined for contravening Iran, Cuba sanctions

WASHINGTON — JPMorgan Chase Bank has been fined $88.3 million for contravening US sanctions against regimes in Iran, Cuba and Sudan, and the former Liberian government, the US Treasury Department announced Thursday. The Treasury said that the bank had engaged in a number of “egregious” financial transfers, loans and other…

US targets Afghan laundering network

WASHINGTON — The US government on Friday slapped sanctions on a high-profile Afghan money exchange house and its executives, accusing them of laundering cash for drug traffickers. The Kabul-based New Ansari Money Exchange as well as 15 related people and firms were accused of hiding “illicit narcotics proceeds” in billions…

Obama stands by vow to cut waste from federal budget

WASHINGTON – US President Barack Obama said on Saturday he was determined to carry out budget cuts needed to improve America’s balance sheet, but insisted on making key investments in the country’s future. The president unveils his spending blueprint on Monday, with White House officials saying it will freeze annual…

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