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AP FACT CHECK: Budget chief slams Obama growth forecast

Josh Boak, Associated Press  |  Posted   May 24th - 12:48pm

Trump budget director Mick Mulvaney, defending an administration that promises more economic growth than many think it can deliver, said Tuesday it's the Obama administration that went overboard in its forecasts for growth. His indictment glosses over significant differences in the economy now and then.

Secret Service budget asks for $25M to protect Trump Tower

Jack Gillum, Associated Press  |  Posted   May 24th - 12:48pm

The Trump administration is asking for more money to protect President Donald Trump's signature New York skyscraper, add hundreds of new Secret Service agents and strengthen security at the White House, according to new budget documents presented to Congress.

Mnuchin says spending cuts forced 'hard choices' in budget

The Associated Press  |  Posted   May 24th - 12:48pm

The Latest on President Donald Trump's budget (all times local):

US stocks extend gains to a 5th day as tech companies rise

Marley Jay, Associated Press  |  Posted   May 24th - 12:40pm

U.S. stocks are up for the fifth consecutive day Wednesday as the market continues to wipe out the losses it suffered one week ago. Technology companies are rising, but energy companies are down with the price of oil. Banks and bond yields have weakened as the Federal Reserve gave more signs it will start reducing its huge portfolio of bonds later this year.

UPDATED

UK investigates 'network' of alleged Manchester attackers

Jill Lawless, Maggie Michael and Gregory Katz, Associated Press  |  Posted   May 24th - 12:40pm

British security forces raided an apartment building Wednesday in central Manchester as they investigated "a network" of people allegedly behind the city's concert bombing. Hundreds of soldiers were sent to secure key sites across the country, including Buckingham Palace and the British Parliament at Westminster.

Judges divided in hearing on consumer agency power

Marcy Gordon, Associated Press  |  Posted   May 24th - 12:40pm

Federal appeals judges are divided as they hear arguments over whether the president should be able to more easily fire the head of the government's consumer finance watchdog agency.

Company to appeal decision in medical marijuana lawsuit

The Associated Press  |  Posted   May 24th - 12:40pm

A Rhode Island textile company plans to appeal a ruling that said it discriminated against a woman by denying her an internship because she uses medical marijuana to treat migraine headaches.

How food stamp cuts could ripple through the economy

Candice Choi, Associated Press  |  Posted   May 24th - 12:20pm

A proposal to curtail the nation's food stamp program would pinch families struggling to pay for groceries and ripple through other areas of the economy, including supermarkets and discounters.

United CEO to investors: We'll be more focused on customers

Don Babwin and David Koenig, Associated Press  |  Posted   May 24th - 12:09pm

The CEO of United Airlines assured shareholders Wednesday that the company is doing all it can to be more customer-friendly since video surfaced of a passenger being violently ejected from a plane last month.

Women CEOs earn big pay, but few of them have the top job

Joseph Pisani, Associated Press  |  Posted   May 24th - 12:09pm

Women CEOs earned big bucks last year, but there's still very few of them running the world's largest companies.

New York fines BNP Paribas $350 million in trading scheme

Ken Sweet, Associated Press  |  Posted   May 24th - 12:09pm

New York state regulators have fined French bank BNP Paribas $350 million, alleging bank employees for years manipulated global currency markets to benefit themselves at the expense of their customers.

Fed minutes: Officials back reducing bond holdings this year

Martin Crutsinger, Associated Press  |  Posted   May 24th - 12:09pm

Federal Reserve officials signaled in discussions earlier this month that they would likely begin reducing the Fed's huge portfolio of bond holdings later this year, a step that could cause borrowing rates to rise.

OPEC likely to extend production cuts into next year

George Jahn, Associated Press  |  Posted   May 24th - 11:53am

OPEC countries and other producers including oil giant Russia are backing prolonging last year's production cut to shore up crude prices, strongly indicating that an extension is a done deal even before they meet formally on the issue Thursday.

A third of older Latinos have tapped into retirement savings

Maria Ines Zamudio, Associated Press  |  Posted   May 24th - 11:53am

Suddenly jobless and with small children to support, Jose Victor Camargo without hesitation cashed out a retirement account he had with his former employer.

Trump team eyes public asset sales to pay for infrastructure

The Associated Press  |  Posted   May 24th - 11:37am

President Donald Trump's advisers are drafting plans to sell some public assets, such as airports, to help pay for a $1 trillion overhaul of the nation's aging infrastructure.

Analysis: Budget shows Trump's trouble figuring out Congress

Erica Werner, Associated Press  |  Posted   May 24th - 11:37am

President Donald Trump's first budget proposal, snubbed by some Republican allies, is just the latest example of an administration that seems at times clueless or indifferent toward Congress.

FAA tells airlines to remove some seats from smaller planes

The Associated Press  |  Posted   May 24th - 11:35am

Federal safety regulators are telling airlines to remove a certain type of seat from their planes, saying the seat could cause neck injuries during otherwise survivable crash landings.

Trump budget chief defends plan in face of opposition

Andrew Taylor, Associated Press  |  Posted   May 24th - 11:35am

The White House budget chief on Wednesday delivered a spirited defense of President Donald Trump's proposal to slash programs from food stamps to health care for the poor in the face of strong Democratic opposition and Republican skepticism.

Consultant charged in scheme to trade US secrets for profit

The Associated Press  |  Posted   May 24th - 11:30am

A Washington consultant is among five people charged in a scheme to convert government secrets into hedge fund profits.