CONGRESS

U.S. lawmakers are puzzled by a Pentagon estimate that it would cost $7 billion extra to split a potential $35 billion refueling plane contract between two bidders, and say they may still move forward on such a plan despite Defense Secretary Robert Gates' vehement opposition.

The U.S. Federal Reserve may face uncomfortably close congressional scrutiny unless it can convince lawmakers that its job in the midst of a crisis is much bigger than merely raising and lowering interest rates.

The House and Senate Thursday approved President Obama' ambitious and expensive budget blueprints and endorsed a $3.5 trillion spending plan that would trim Obama's spending proposals for the fiscal year that begins in October.

The Democratic-controlled U.S. Congress on Thursday approved budget blueprints embracing President Barack Obama's agenda but leaving many hard choices until later and a government deeply in the red.

Maurice Greenberg, the former chief executive of American International Group Inc and creator of the doomed unit whose investments triggered its downfall, came under fire from U.S. lawmakers on Thursday who questioned his claims of ignorance.

The Democratic-led U.S. Congress gave final approval on Wednesday to sweeping land and water conservation legislation that environmental groups praised as one of the most significant in U.S. history.

Congressional Democrats moved on Wednesday to slim down President Barack Obama's 2010 budget request amid bipartisan worries that the his plan could make the U.S. deficit balloon with new federal spending.

Outraged U.S. lawmakers proposed a special surtax on Tuesday on millions of dollars in executive bonuses at bailed-out insurer American International Group Inc amid howls of protest over the payouts.

Congress has begun to draft a bill that will require companies like Google to warn its users beforehand of its ad-tracking activity in a bid to protect users’ privacy rights.

Merrill Lynch & Co may have misled Congress in representing last November that it planned to pay out bonuses at year end, when in fact it decided to accelerate those payouts, New York Attorney General Andrew Cuomo said on Wednesday.

Acknowledging that U.S. financial bailout costs may rise, Treasury Secretary Timothy Geithner on Tuesday said the Obama administration will work with Congress to determine the size and shape of future rescue efforts

U.S. Treasury Secretary Timothy Geithner said on Tuesday President Barack Obama will work with Congress to determine the appropriate size and shape of future financial stability efforts as conditions develop.

President Obama urged Congress to pass the economic stimulus package before the end of the holiday weekend so he could sign it into law in an effort to help the nation emerge from a recession.

Microsoft Corp., the world's largest software maker is ready to announce My Phone at the Mobile World Congress in Barcelona next week where it could announce more details about a test of the service.

The lawmakers of House Financial Service Committee on Wednesday are holding a hearing with chief executive officers of eight banks that received injections of capital from the government's Troubled Asset Relief Program.

Taiwanese-based PC computer company Acer has just begun distributing invitations to a press event in Barcelona, Spain during the Mobile World Congress being held there next month.

WASHINGTON - Both President-elect Barack Obama and Vice President-elect Joe Biden will huddle with Democratic and Republican congressional leaders on Monday to try to advance a huge economic stimulus bill that Obama hopes can be enacted quickly, despite Republican reservations.

EU Commissioner Viviane Reding will call on mobile phone operators in the EU to cut the cost of texting and internet use for customers who are abroad. Should they fail to comply operators could face EU regulation.

Nokia unveiled new multimedia mobile phones and a new navigation software, on Monday during the on-going World Mobile Congress in Barcelona, Spain. The new navigation software, Map 2.0 provides navigation to pedestrians.

The first phones to be loaded with Google's Android mobile software have been unveiled at the annual Mobile World Congress in Barcelona.

U.S. President George W. Bush insisted on Monday he had plenty of unfinished business for his last year in office but he will leave some serious challenges for his successor in January, 2009. In his State of the Union address, Bush focused on passing an economic stimulus plan and cutting wasteful spending.