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Jun 28, 2015

U.S. urges Europe, IMF to reach a deal to keep Greece in euro zone

WASHINGTON (Reuters) – Top U.S. officials waded in at the weekend to try to help resolve Greece’s financial woes, urging Europe and the International Monetary Fund to come up with a recovery plan that keeps the country in the euro zone.

In a series of separate phone calls on Saturday to IMF Managing Director Christine Lagarde and the finance ministers of Germany and France, Treasury Secretary Jack Lew urged them to “find a sustainable solution that puts Greece on a path toward reform and recovery within the Eurozone,” according to a Treasury Department statement on Sunday about the calls.

Jun 28, 2015

IMF chief Lagarde says disappointed over inconclusive talks with Greece

WASHINGTON (Reuters) – The head of the International Monetary Fund said Sunday she is disappointed in the stalemate over talks to prevent Greece from defaulting on its IMF debt, but said the euro area is in a “strong position” to respond effectively to developments.

In a statement, IMF Managing Director Christine Lagarde endorsed a balanced approach to restore economic stability and growth in Greece, accompanied by structural and fiscal reforms, and remained committed to continuing negotiations.

Jun 25, 2015

Senate panel approves bill to monitor port performance

WASHINGTON (Reuters) – A divided Senate Commerce Committee on Thursday approved legislation requiring the government to report on the performance of major U.S. port operations, including during labor contract talks.

The voice vote, which follows a nine-month slowdown at 29 West Coast ports, sent the measure on to possible floor action, over the objections of Democrats and unions who warned that it could lead to improper federal intervention in contract talks.

Jun 24, 2015

GM to test Cisco technology for sharing road safety spectrum

WASHINGTON, June 24 (Reuters) – General Motors Co
plans to begin testing new Cisco Systems Inc technology
that could allow “talking” cars to share radio communication
bands with roadside Wi-Fi devices, a GM executive told U.S.
lawmakers.

The technology could hold out the promise of allowing Wi-Fi
devices to share the same radio band as vehicle-to-vehicle (V2V)
safety systems without causing interference, he said in written
testimony posted to a House oversight committee website on
Wednesday.

Jun 24, 2015

U.S. to fine railroads that fail to implement PTC safety system

WASHINGTON, June 24 (Reuters) – U.S. railroads that fail to
implement a safety technology system known as positive train
control, or PTC, will face federal fines beginning Jan. 1, the
top federal railroad regulator said on Wednesday.

Sarah Feinberg, acting administrator of the Federal Railroad
Administration, told a House of Representatives oversight panel
that the fines could be assessed per violation, per day,
depending on a railroad’s implementation progress.

Jun 23, 2015

Lawmakers say auto safety agency needs reform, not more funds

By David Morgan and Ben Klayman

(Reuters) – The U.S. agency that polices vehicle safety is not likely to get more money from Congress to overhaul its defective investigation system or deal with one of the most complex recalls in its history, lawmakers said on Tuesday.

The Obama administration has asked Congress to provide the National Highway Traffic Safety Administration’s defect investigations office with an additional $20 million a year, tripling the $10 million budget it has had for most of the past decade.

Jun 23, 2015

U.S. lawmakers say auto safety agency needs reform, not more funds

June 23 (Reuters) – The U.S. agency that polices vehicle
safety is not likely to get more money from Congress to overhaul
its defective investigation system or deal with one of the most
complex recalls in its history, lawmakers said on Tuesday.

The Obama administration has asked Congress to provide the
National Highway Traffic Safety Administration’s defect
investigations office with an additional $20 million a year,
tripling the $10 million budget it has had for most of the past
decade.

Jun 23, 2015

Takata vehicle recall size includes double counting: U.S.

By David Morgan and Ben Klayman

(Reuters) – U.S. auto safety regulators on Tuesday said their estimate for the millions of vehicles affected by the Takata air bag recall will likely be revised because cars with two front air bags were double-counted.

Mark Rosekind, administrator of the National Highway Traffic Safety Administration, said in written testimony to the Senate Commerce Committee that regulators are waiting for automakers to provide information including the number of inflators that must be replaced more than once.

Jun 23, 2015

U.S. says Takata vehicle recall size includes double counting

June 23 (Reuters) – U.S. auto safety regulators on Tuesday
said their estimate for the millions of vehicles affected by the
Takata air bag recall will likely be revised because cars with
two front air bags were double-counted.

Mark Rosekind, administrator of the National Highway Traffic
Safety Administration, said in written testimony to the Senate
Commerce Committee that regulators are waiting for automakers to
provide information including the number of inflators that must
be replaced more than once.

Jun 20, 2015

Government investigators blast NHTSA in new safety report

WASHINGTON (Reuters) – The U.S. auto safety watchdog is racked by internal problems that have prevented the agency from acting to protect the public from deadly auto defects, including faulty GM ignition switches, according to federal investigators.

An official U.S. Department of Transportation report, seen by Reuters, says the National Highway Traffic Safety Administration lacks the data needed to identify safety issues, does not properly screen the data it has and has failed time and again to hold automakers accountable for problems among the more than 265 million cars and trucks on America’s roads.

    • About David

      "David Morgan has covered news from Wall Street and Fleet Street to the White House, the Pentagon and Congress, including politics, macroeconomics, military affairs, corporate finance, U.S. intelligence, national security and the international markets. He has also reported from Atlanta on the rise of American conservatism, civil rights, homegrown terrorism and the Olympics, and helped chronicle the Sept. 11 attacks and their aftermath from Philadelphia, New York and Washington."
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