House vote puts focus on tougher Fed scrutiny

Ron Paul, the Texan Republican congressman, edges closer to realising a decades-long ambition to impose tougher congressional scrutiny on the Federal Reserve

• Geithner defends record to Congress
• Full text: Geithner testimony

China’s banks face overseas pitfalls

Torture case brought in the US reveals the perils that could threaten the overseas’ expansion dreams of China’s government-owned entities

Congress eyes bank tax to tackle unemployment

US lawmakers working on ways to pay for legislation to reduce unemployment are considering taxes on banks as a way to raise revenue – and exploit public anger ahead of elections next year.

Analysis: A wary willingness

China and America: While Barack Obama may have won Beijing’s agreement to collaborate on world problems, his hosts are reluctant to take on the costs of leadership

Lex: California

The Golden State faces a cumulative shortfall of $21bn between the rest of this fiscal year and the one starting next July

Geithner defends record to Congress

Tim Geithner launches a fierce defence of his record as US Treasury secretary as Republicans said his policies had failed and he should resign

CBO says Reid’s health bill would cut deficit

The Obama administration’s push for a health reform received a boost when the non-partisan Congressional Budget Office said the latest legislative proposals would reduce the federal deficit

Congress backs tougher bill to break up banks

The House financial services committee approved an amendment allowing regulators to break up even healthy financial companies in a move that is worrying leading US institutions