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Patrice Hill

Articles by Patrice Hill

The Senate Banking Committee this month is expected to mark up the bipartisan bill drafted last month by Chairman Tim Johnson, South Dakota Democrat (left), and the committee's ranking minority member, Sen. Mike Crapo, Idaho Republican (right), The bill would phase out Fannie and Freddie while setting up a new agency to offer a much more limited government guarantee on securities backed by prime mortgages. (ASSOCIATED PRESS)

Stalemate on the Hill may spare Fannie and Freddie from reform

Stepped-up demands from liberal Democrats and conservative Republicans are threatening the prospects for legislation to revive and reform the private mortgage market, six years after it collapsed and largely disappeared during the Great Recession. Published April 21, 2014

A Chinese clerk counts U.S. dollars in exchange for Chinese renminbi at a Hefei, China, bank. (Associated Press)

U.S. Treasury warns China on currency

In unusually pointed language, the U.S. Treasury on Tuesday warned China and Japan that it is closely watching them out of concern they may be intentionally depreciating their currencies to gain an advantage in trade with U.S. competitors. Published April 15, 2014

** FILE ** International Monetary Fund (IMF) Managing Director Christine Lagarde accompanied by IMFC Chair and Singapore Finance Minister Tharman Shanmugaratnam, arrive for a news conference during the World Bank Group-International Monetary Fund Spring Meetings in Washington, Saturday, April 12, 2014. ( AP Photo/Jose Luis Magana)

IMF gives U.S. Congress year-end deadline for passing reforms

The 188 members of the International Monetary Fund on Sunday gave the U.S. Congress until the end of the year to pass reforms giving large emerging countries like Russia and China a greater say in the Bretton Woods Institution, after which they may make plans to reform the IMF without the U.S. Published April 14, 2014

IMF eyes 'Plan B' for reforming itself without U.S.

The International Monetary Fund has a "Plan B" for proceeding with reforms giving greater powers to developing countries even though the U.S. Congress hasn't approved them, but it is not ready to take that route yet, IMF Managing Director Christine Lagarde said Thursday. Published April 10, 2014

IMF Managing Director Christine Lagarde continues to insist that there is little she can do without U.S. approval. Analysts point out that European countries, which continue to dominate the IMF's board of directors and stand to lose the most clout under the reforms, have been happy to let the U.S. block the legislation even while publicly deploring the congressional delays. (Associated Press)

Russia, China leading efforts to bypass U.S. as IMF reforms stall on Capitol Hill

Russia, China and other major developing countries — angry about the stalemate on Capitol Hill that has blocked approval of a reform plan that would give them a bigger voting share at the International Monetary Fund — are pushing to go ahead with the reforms without waiting for the United States. Published April 6, 2014

** FILE ** In this Thursday March 13, 2014, file photo, job seekers line up to attend a marijuana industry job far in Downtown Denver. (AP Photo/Brennan Linsley, File)

Jobs: U.S. private sector finally makes up recession's losses

American businesses created another 192,000 jobs last month and more than a half million workers surged back into the labor force to find jobs amid signs of a rebound in hiring after a long, cold winter, the Labor Department reported Friday. Published April 4, 2014

Federal Reserve Chair Janet Yellen speaks during her first news conference at the Federal Reserve in Washington, Wednesday, March 19, 2014. The Federal Reserve is seeking to clarify when it might start to raise short-term interest rates from record lows. The Fed also says it will cut its monthly long-term bond purchases by another $10 billion to $55 billion because it thinks the economy is strong enough to support further improvements in the job market.  (AP Photo/Susan Walsh)

Yellen's Fed votes for 'modest' easing of stimulus

The Federal Reserve Wednesday said it will continue easing its stimulus program for the economy, cutting its purchases of U.S. Treasury and mortgage bonds by another $10 billion a month. Published March 19, 2014

The trial in New York of lawyer Steven Donziger, who brought natives of the Ecuadorean Amazon to court with him in 1999, reaches a climax this week as he defends himself against charges that he engineered a record-breaking $19 billion judgment against Chevron Corp. for contamination of the Amazon rain forest. Ecuador had originally opposed the class-action suit, filed in 1993 on behalf of indigenous Indians and others. (Associated Press)

Chevron scores court win in $9B Ecuador rainforest case

The U.S. District Court in Manhattan on Tuesday handed Chevron Corp. a major victory in its decades-long battle over pollution in the Amazon rain forest, declaring an Ecuadorean court ruling unenforceable in the U.S. Published March 4, 2014

Pro-Russian troops control a ferry terminal on the easternmost tip of Ukraine's Crimea region just 12 miles from Russia, intensifying fears that Moscow will send even more troops into the strategic Black Sea region. (Associated Press)

Moscow shakes up the financial world

Global markets swooned Monday as Russian soldiers secured control over Ukraine's Crimean peninsula, while the threat of trade sanctions against Moscow from the West over the crisis sent oil prices soaring and the ruble plummeting. Published March 3, 2014

Pumped up: Salym Petroleum Development workers soon could be drilling for shale, or tight, oil. A venture between Gazprom Neft and Shell have announced plans to drill the first horizontal appraisal well in Russia. (Associated Press)

Siberian shale find fuels Russia's fracking future

Russia is showing the world that it does things in a big way at the Sochi Olympics. Now, at the opposite end of the vast country, Russia is aiming to be the next big player in the global shale oil revolution. Published February 18, 2014

Sears new In-Vehicle Pickup feature on its Shop Your Way mobile app allows Shop Your Way members to pick up their online purchases at their local Sears store within five minutes of arrival, without ever leaving the car. (PRNewsFoto/Sears, Roebuck and Co.)

Bad weather slams retail sales

Extremely cold and snowy weather inhibited America’s shoppers last month, causing a 0.4 percent drop in retail sales, and the Christmas selling season was poorer than previously reported, the Census Bureau reported on Thursday. Published February 13, 2014

Comcast Corp. announced Feb. 13 that it is buying Time Warner Cable Inc. for $45.2 billion in stock. The deal combines two of the nation's top pay-TV and Internet service companies and makes Comcast, which also owns NBC Universal, a dominant force in creating and delivering entertainment to American homes. (Associated Press)

Comcast acquisition deal for Time Warner primed to transform the cable box

Comcast Corp.'s blockbuster $45.2 billion deal to acquire top rival Time Warner Cable will further transform the cable landscape, creating the first national cable network and presenting new challenges for rivals, regulators and viewers from Los Angeles to New York City. Published February 13, 2014

Federal Reserve Chair Janet Yellen testifies on Capitol Hill in Washington, Tuesday, Feb. 11, 2014, before the House Financial Services Committee hearing. Yellen said Tuesday that if the economy keeps improving, the Fed will take "further measured steps" to reduce the support it's providing through monthly bond purchases.  (AP Photo/Cliff Owen)

Markets rally on Yellen's pledge to end easy-money policies

Janet Yellen, in her first appearance before Congress as the new chair of the Federal Reserve, sparked a major rally in global financial markets Tuesday by pledging to stick with her predecessor Ben S. Bernanke’s plan to gradually end the easy-money policies put in place during the recession. Published February 11, 2014