A Florida-based charity will pay US$4 million to resolve claims that it acted as a conduit for companies including Biogen Inc and Novartis AG to pay kickbacks to Medicare patients using their high-priced multiple sclerosis drugs, the U.S. Justice Department said on Wednesday.
The US Congress budget office launched on Wednesday a stern warning: massive spending cuts and tax hikes due next year will cause even worse economic damage than previously thought if Washington fails to come up with a solution.
Following the political agreement which enabled the US Congress to lift the debt ceiling and avoid default, Treasury Secretary Timothy Geithner wrote a piece for The Washington Post, where he displays what in his opinion are the following steps for the world’s largest economy to restore fiscal responsibility and sustainability.
President Barrack Obama said he would be meeting with congressional leaders, at the White House at 1100 (1500 GMT) on Saturday. On Friday Republican House Speaker John Boehner walked away from crunch debt ceiling talks with the President.