Later this summer, Republicans will gather in Tampa, Fla., for their presidential nominating convention; Democrats will then do the same in Charlotte, N.C. Each party gets more than $18 million in public funds this year to help pay for the gatherings.
The money comes from that $3 box that taxpayers can check on their federal tax returns. But this could be the last time party conventions get taxpayer funding.
Fifteen major banks were downgraded Thursday in a reflection of the slowing global economy and volatility in financial markets. In a sweeping move, Moody's cut the credit ratings of some of the world's largest financial institutions, including Bank of America, Goldman Sachs and Citigroup.
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When President Obama addresses a large gathering of Latino politicians later today in Florida, he's likely to get a warm reception. Just last week, Mr. Obama announced that hundreds of thousands of young illegal immigrants who came to this country as children can stay in the U.S. - at least temporarily.
Product safety regulators announced the recall Thursday after hundreds of people reported explosions in their toilet tanks. The faulty flushing system is made by the brand Flushmate — specifically the Flushmate Three Pressure-Assist Flushing System. It's used by several toilet manufacturers including American Standard and Crane.
The Tesla electric car company has high hopes for its new Model S, which it calls "the world's first premium electric sedan." The new car, which is being delivered to customers Friday, is priced at around half the cost of the only other Tesla model, the svelte, two-door Roadster.
The new car's sticker price starts around $57,000; a $7,500 federal tax credit drops the starting price just below $50,000. But like its gas-powered cousins, this electric vehicle has so many options available that its price can soar to near $100,000.