government

"Less than two years ago, we made a commitment to repay the U.S. and Canadian taxpayers in full and today we made good on that promise," Chrysler and Fiat CEO Sergio Marchionne said in a statement today.

Mr.

Chrysler said today it has fully repaid the U.S. and Canadian governments, more than six years earlier than it was required to, making final payments of $5.9 billion to the U.S. Treasury and $1.7 billion to the governments of Cana

It also revised its outlook on the long-term rating to negative from stable.

The revised outlook reflects the U.S.'s "very large budget deficits and rising government indebtedness" relative to its triple-A peers.

Standard & Poor's Ratings Services affirmed its 'AAA' long-term and 'A-1+' short-term sovereign credit ratings on the U.S., according to a Bloomberg report.

Buying momentum has continued as hopes fade for a quick resolution of conflicts in Libya. Last week, crude-oil futures traded at $106 a barrel and prices have only climbed since then.

The weakening of the U.S. dollar and uncertainty over a possible U.S.

Light crude for May delivery approached the $112 a barrel level, while Brent crude futures rose $1.74 to $124 a barrel.

The measure, which includes $12 billion in spending cuts, passed 247 to 181. The vote was largely along party lines, though six Republicans opposed it and 15 Democrats supported it.

The passage was likely symbolic, since it is unlikely to pass the Democrat-led Senate and President Obama has vowed to veto it if it does.

With a government shutdown looming, the GOP-led House has passed a bill that would fund the government for a week and also fund the Department of Defense for the rest of the fiscal year.

Tom Tauke, Verizon executive vice president of public affairs, policy and communications, stated: "Today's action represents a new level of unwarranted government intervention in the wireless marketplace.

The FCC approved an order that requires wireless carriers that invest in building networks to agree to carry the traffic of carriers that do not make these investments, at prices set by the FCC.

In an email obtained by CNN, OMB Deputy Director for Management Jeffrey Zients tells agency officials that "given the realities of the calendar, good management requires that we continue contingency planning for an orderly shutdow

The White House Office of Management and Budget has notified federal agencies to start preparing and sharing contingency plans in case the government shuts down on Friday.

Moody's cited fears the country will have difficulty meeting its deficit reduction goals and underlining expectations the country will be forced to seek a bailout from the EU.

Uncertainty plagues the country after its minority government fell apart as it was attempting to win parliamentary support for a fourth round of austerity measures, setting up a June 5th general election.

"Moody's be

Moody's Investors Service delivered another blow to the credit rating of Portugal's government bonds, cutting its rating to Baa1 from A3, and putting the rating on review for a further possible cut.

The proposal, drafted principally by Wisconsin representative Paul D.

The Republican controlled House of Representatives proposed an ambitious budget plan this morning that would cut $5.8 trillion in spending over the next decade. For 2012, the plan called for $3.53 trillion in spending, $179 billio

The new estimate includes the $700 billion Troubled Asset Relief Program, as well as other Federal Reserve and government programs.

The U.S. Treasury announced on Wednesday that government financial rescue programs have begun to turn a profit, and estimates a total profit of about $24 billion based on current market conditions.

KeyCorp announced that it completed the repurchase of $2.5B of Fixed-Rate Perpetual Preferred Stock, Series B issued to the Department of the Treasury as a result of Key's participation in the Capital Purchase Program of the Troub