WASHINGTON (AP) — President Barack Obama's top economists say the nation is on track to make economic progress over the next two years, but say it would do even better if Congress would enact the additional spending he proposed in his most recent budget. A divided Congress in an election year is not likely to heed that call.
Washington on Monday called on Russia to prove that it was willing to act on a series of US proposals aimed at ending the crisis over Ukraine. US Secretary of State John Kerry had laid out a number of ideas to his Russian counterpart Sergei Lavrov and is prepared to take part in further talks "if and when we see concrete evidence that Russia is prepared to engage on these proposals," State Department spokeswoman Jen Psaki said. The diplomatic proposals would help facilitate dialogue between Russia and Ukraine, after Russian troops deployed last week in Ukraine's southern Crimea peninsula. In the phone call, Kerry said "the United States wants to see a cessation of Russian military advances in Ukraine including Ukraine's Crimean Peninsula, a halt in the drive for annexation of Crimea, and the end of provocative steps to provide space for diplomacy," Psaki said in a statement.
Mt. Gox, once the world's largest bitcoin exchange, filed for U.S. bankruptcy protection in Dallas late Sunday, a move that will temporarily halt U.S. legal action against the Japanese company. Mt. Gox, which filed for bankruptcy protection in Japan in February, said without U.S. protection it would spend substantial funds defending itself against a U.S. lawsuit seeking class action status that was filed in federal court in Chicago. A hearing in Dallas was scheduled for 1:30 p.m. local time on Monday to consider Mt. Gox's request to stay pending lawsuits against the company. The plaintiff leading the Chicago lawsuit was scheduled on Tuesday to ask a federal judge to freeze Mt. Gox's U.S.-based servers and other computer equipment and to set up a trust over Mt. Gox's assets.