By David Lawder and Ismail Shakil WASHINGTON () -U.S. Treasury Secretary Janet Yellen said that the government will reach its statutory borrowing limit on Tuesday and begin employing "extraordinary measures" to keep from breaching the cap and risking a potential catastrophic default. Yellen, in a letter on Friday to congressional leaders just three days before

By David Shepardson WASHINGTON () -The outgoing head of the Federal Communications Commission said a massive Chinese-linked cyber-espionage operation against U.S. telecoms firms known as "Salt Typhoon" is a "clarion call" to address significant telecommunications security issues. "Salt Typhoon is a clarion call that reminds us that the security of our networks is absolutely vital

By Jonathan Stempel NEW YORK () - Federal prosecutors on Friday dropped their corruption case against former New York Lieutenant Governor Brian Benjamin, following the death of a key witness. Benjamin, 48, had been expected to face trial in Manhattan federal court after being accused of funneling a $50,000 state grant to a real estate

By Chuck Mikolajczak NEW YORK () - U.S. stocks rallied on Friday to close out a strong week on optimism over the health of the economy and path of interest rates as investors braced for a slew of policy changes under the incoming Trump administration. The and Dow Industrials registered their biggest weekly percentage gains

() -The U.S. government has awarded Moderna (NASDAQ:) $590 million to advance the development of its bird flu vaccine, as the country doubles down on efforts to tackle increasing infections in humans. This is in addition to $176 million awarded by the U.S. Department of Health and Human Services (HHS) last year to complete the

By Timothy Gardner WASHINGTON () - U.S. President Joe Biden's administration has protected about 84%, or $96.7 billion in clean energy grants created by its signature climate law from any clawback by the next administration, a White House official said on Friday. WHY IT'S IMPORTANT The 84% of the grants from the Inflation Reduction Act

() -The U.S. Securities and Exchange Commission on Friday said Digital Currency Group Inc. and the CEO of its now-defunct subsidiary Genesis Global Capital LLC have agreed to pay a combined $38.5 million in civil penalties to settle charges they misled investors about Genesis's financial condition. Regulators found that DCG and Genesis chief Soichoro Moro

By Chuck Mikolajczak () -U.S. stocks rallied on Friday on optimism over the health of the economy and path of interest rates as investors braced for a slew of policy changes under the incoming Trump administration. The and Dow Industrials were poised for their biggest weekly percentage gains since late November and the Nasdaq fared

By Chris Prentice and Jonathan Stempel () -Vanguard Group will pay $106.4 million to settle U.S. Securities and Exchange Commission charges alleging it failed to disclose important tax information about its popular target-date funds, resulting in hundreds of thousands of ordinary investors getting stuck with inflated tax bills. The settlement stemmed from Vanguard's December 2020

WASHINGTON () - The U.S. on Friday imposed sanctions on a Yemen-based financial institution that Washington accused of financially supporting the Houthis, as President Joe Biden's administration sought to further pressure the militant group before Biden leaves office. The U.S. Treasury Department in a statement said it imposed sanctions on Yemen Kuwait Bank, accusing it