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Tim Devaney

tdevaney@washingtontimes.com

Tim Devaney was a national reporter who covered business and international trade for The Washington Times.

Articles by Tim Devaney

“We don’t want to have races to the bottom, where one bank says, ‘OK, you’re regulating me too much. I’m going to move my headquarters to the Bahamas to try to avoid regulations,” said Adam Posen, chief of the Washington-based Peterson Institute for International Economics. (Andrew Harnik/The Washington Times)

G-20 gets chance to reshape banks

The Group of 20 meetings in Moscow this week offer the world's industrial powers an opportunity to push for better coordination of global financial regulations that give banks clear guidelines to follow, the new chief of the Washington-based Peterson Institute for International Economics said in an interview Tuesday.

February 12, 2013

FTC finds errors in 1 of 5 personal credit reports

In the first comprehensive study of its kind, the Federal Trade Commission reported Monday that some 40 million Americans could be suffering from errors that are keeping their credit scores lower -- and their borrowing rates higher -- than they should be.

February 11, 2013
**FILE** A woman walks towards a home for sale Nov. 14, 2012, during a viewing for brokers in Leucadia, Calif. (Associated Press)

FTC: One in five has mistake on at least one credit report

The Federal Trade Commission in a new survey released Monday found that one in five consumers had at least one error on their credit report from one of the three leading reporting services, and 5 percent of consumers — one in 20 — could end up paying more for mortgages and auto loans because of these mistakes.

February 11, 2013
Michael Dell, chairman and CEO of Dell Inc., reacts to a question during a press conference in Beijing in 2009. (AP Photo/Alexander F. Yuan)

Dell going private to reinvent itself

Dell, mired in the sluggish laptop and desktop business, may have gotten the breathing room it needs Tuesday to remake itself away from the glare of Wall Street — thanks to the company's billionaire founder and namesake.

February 5, 2013
** FILE ** In this Jan. 27, 2009, file photo, bottles of Budweiser beer are seen at the Stag Brewery in London. Anheuser-Busch InBev SA agreed Friday, June 29, 2012, to buy the half of Corona maker Grupo Modelo it doesn't already own for $20.1 billion in cash, in a deal that will greatly increase the size and dominance of the world's largest brewer. (AP Photo/Kirsty Wigglesworth, File)

Feds put big beer merger on ice

The Obama administration came out against the marriage of two beer giants in a fight against an increasingly consolidated industry.

January 31, 2013
"[O]ur first order of business, obviously, is getting the 787 back into operation," Boeing's CEO and Chairman Jim McNerney told investors Wednesday after the company's newest model was grounded. "Dreamliner 787 production continues … and we remain confident in the future of the program." (Associated Press)

Boeing confident 787 can be fixed

Boeing's stock ticked up Wednesday after the aerospace giant reported record revenues in 2012 and forecast that it would step out from the shadow of its flagship Dreamliner 787 in the coming year.

January 30, 2013
The USS Enterprise is among a fleet of 11 carriers that the Navy maintains by law, but Pentagon budget cuts have the service talking behind the scenes of protecting only 10 for future missions, sources say. (Associated Press)

Looming defense cuts hurt tech growth

Washington's high-tech sector is giving Silicon Valley a run for its money, but the threat of defense cuts under the sequestration process is undermining the area's pace and could derail the push altogether.

January 29, 2013
**FILE** President Obama pauses in the State Dining Room of the White House on Jan. 24, 2013, as he announces that he will nominate Mary Joe White to lead the Security and Exchange Commission and re-nominate Richard Cordray to lead the Consumer Financial Protection Bureau, a role that he has held for the last year under a recess appointment. (Associated Press)

Labor board vows to press ahead despite ruling

The National Labor Relations Board indicated that it will press ahead with its work, despite a bombshell ruling Friday that called into question the legitimacy of the agency’s board and of the cases decided by President Obama’s recess appointees over the past year.

January 25, 2013
President Obama looks to Mary Jo White in the State Dining Room of the White House in Washington on Thursday, Jan. 24, 2013, as he announces he will nominate her to lead the Securities and Exchange Commission (SEC). (AP Photo/Carolyn Kaster)

Conservative feminist group has ‘binder’ of SEC alternatives

A conservative feminist group is questioning President Obama's decision to nominate former New York U.S. attorney Mary Jo White to head the Securities and Exchange Commission, claiming somewhat tongue in cheek that it has compiled a "binder full of women" who are better suited for the job.

January 24, 2013
President Obama announces in the State Dining Room of the White House in Washington on Thursday, Jan. 24, 2013, that he will nominate Mary Joe White (right) to lead the Securities and Exchange Commission (SEC) and will renominate Richard Cordray (left) to head the Consumer Financial Protection Bureau, a position he has held for the past year under a recess appointment. (AP Photo/Carolyn Kaster)

Obama picks ex-prosecutor to head SEC

Bracing for tougher enforcement of rules governing Wall Street in President Obama's second term, several business groups warily welcomed the president's nomination Thursday of Mary Jo White, a former U.S. attorney for Manhattan who made her name prosecuting terrorists, to head the Securities and Exchange Commission.

January 24, 2013
A "now hiring" banner hangs above a construction site for a future Fresh & Easy supermarket in Los Angeles on Friday, Dec. 7, 2012. (AP Photo/Damian Dovarganes)

Jobless claims drop to five-year low

The number of Americans looking for a job has fallen to the lowest level since before the Great Recession, a sign that the job market is firming up as President Obama begins his second term.

January 24, 2013
**FILE** Pro-union demonstrators crowd the Rotunda of the Michigan Capitol in Lansing to chant against right-to-work legislation on Dec. 5, 2012. (Associated Press/Detroit News)

Union membership at lowest point since 1930s

Business groups have long complained that the Obama administration is "labor-friendly," but union membership actually has declined over the last four years to its lowest point since the 1930s.

January 23, 2013
Google on Tuesday reported earnings of $3.57 billion in net income, or $10.65 per share, on $14.42 billion of revenue, beating analysts’ estimates. (Associated Press)

Higher earnings boost Google shares

Google shares jumped about $35, or 5 percent, after the markets closed Tuesday as the search engine giant beat estimates in its fourth quarter earnings report.

January 23, 2013
International Monetary Fund Managing Director Christine Lagarde (Associated Press)

IMF chief Lagarde says U.S. must ‘pull together’

In her first major speech of the new year, International Monetary Fund chief Christine Lagarde on Thursday called for "all sides to pull together" in Washington to solve the country's debt and growth problems, saying the world's leading economies must follow through on fiscal and market reforms to avoid slipping back into recession.

January 17, 2013
**FILE** The skyline of Washington, D.C. (Associated Press)

Cities short on pension, health care funds

The Great Recession has taken a heavy toll on public pension and retiree health care funds in dozens of the nation's biggest cities, according to a study released Wednesday, as top cities around the country struggled to keep up with their liabilities amid plunging revenues.

January 16, 2013
Richard Kane, president and CEO of International Limousine Service Inc., said he expects to rent 30 to 40 more vehicles for Inauguration Day activities next week, down from an additional 70 for the first swearing-in of President Obama in 2009. (Andrew S. Geraci/The Washington Times)

Obama’s second inauguration brings a yawning gap in business

In Washington, even Democrats may find themselves wishing this weekend that they had voted for Mitt Romney — considering the economic boost that comes from a fresh presidential inauguration compared with the lackluster redo planned for President Obama's second term.

January 16, 2013