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Lawyers for Cook say White House hearing set up by Trump is ‘biased’

WASHINGTON — Federal Reserve governor Lisa Cook’s lawyers say that a committee set up by the White House last week to investigate an accusation against her is “demonstrably biased,” though they did not close the door on the possibility that she would appear before the panel. Lawyer Abbe Lowell also said in a letter Tuesday that Cook would not be able to participate in a hearing Nov. 5 because she “will be executing her official duties as Governor at financial and monetary policy meetings in Europe.” The earliest that Cook could appear before a “committee of inquiry” ...

US fines Bank of America $1.2B for money laundering

WASHINGTON — The U.S. Treasury Department said Tuesday that it’s imposing $1.2 billion in fines on Bank of America for allegedly violating anti-money laundering and sanctions laws. The fines on America’s second-biggest bank amount to the third-largest in the department’s ...

Tempers flare over next EU budget

BRUSSELS — Political tensions mounted Tuesday over the European Union’s next long-term budget as pressure builds to get the spending package agreed before a series of unpredictable elections in some of the biggest member countries next year. The EU budget, known as the multiannual financial framework, amounts to around 1.2% of the 27-nation bloc’s gross national income. The MFF is financed mostly by the member countries based on the size of their economies. The spending plan is the cash point where EU ambitions, conflicting policy priorities and economic realities collide and ...

Ticker: Supreme Court agrees to hear watchdog lawsuit

The Supreme Court has agreed to hear arguments in a watchdog’s lawsuit seeking public records about billionaire Elon Musk’s Department of Government Efficiency. The high court said on Tuesday that it will intervene for a second time in Citizens for Responsibility and Ethics in Washington’s case, which seeks access to DOGE records. Last year, the high court reined in a district court’s order for the government to produce DOGE-related records to CREW. The high court concluded that the district judge ruled too broadly in ordering documents to be turned over. A CREW attorney said ...

GOP faces backlash from factory workers

Nelson Vandermeer voted Republican for decades but balked at supporting President Donald Trump, fearing that the Republican’s plan for tariffs on imports would hurt workers more than help. Last year, Vandermeer’s premonition came true in a very personal way. The 62-year-old lost his job ...

US-Russia deal victory for Kremlin

A deal between Moscow and Washington over exports of Russian diesel and fresh U.S. criticism of Ukraine’s leader mark important political victories for the Kremlin, reversing some of the sanctions for its full-scale invasion of its neighbor. While the size of Russia’s diesel exports is relatively small and unlikely to significantly impact prices, the revenue will help Moscow replenish its war coffers and — more importantly — undermine efforts by Kyiv and its European allies to put up a united front against President Vladimir Putin. Along with President Donald Trump suggesting ...