No surprise: the first move of the new Republican Senate is an attempt to push Barack Obama into approving pipeline. Photograph: Jessica Rinaldi/Reuters

It should come as no surprise that the very first move of the new Republican Senate is an attempt to push US president Barack Obama into approving (...)

Barney Frank: former chairman of the House Financial Services Committee ensured mark-to-market practice ended. Photograph: Charles Dharapak/AP

The economic crisis sparked by the subprime mortgage market in the US was the fault of an accounting rule, guests heard a US economist argue over dinn(...)

Bono criticised the US oil lobby for killing a bill that would have forced greater transparency: “You can’t give alms to the poor on one level and have your hands on their throat on the other.” Photograph: Ramin Talaie/Getty Images

It was an impression of which any great impersonator would be proud. Bono nailed Bill Clinton’s southern drawl when he took advantage of a delay at(...)

Morning commuters walk on Wall Street in New York’s financial district

I f the size of Wall Street bonuses is a gauge of how much has changed since the banking crisis five years ago, then the financial sector has learned (...)