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DEMOCRAT JIM WEBB WON Virginia's pivotal Senate race, unseating Republican George Allen and giving the Democrats control of Congress for the first time in 12 years, according to Associated Press reports.
Tuesday's election ended a partnership between a business-friendly White House and Congress. Democrat leaders have yet to spell out an agenda, but are talking about a minimum-wage raise and higher taxes on business.
Rumsfeld's resignation as defense secretary, in the wake of Democratic midterm gains, now opens the door for the biggest change of U.S. policy in Iraq since troops got bogged down there three years ago.
The FDA is moving to broaden access to experimental drugs for people with serious illnesses, laying out a pathway to obtain them. 4:00 a.m.
California billionaires Eli Broad and Ronald Burkle have joined forces to make a preliminary bid for Tribune.
Danske Bank agreed to buy the banking operations of Finnish financial-services group Sampo for $5.15 billion. 6:01 a.m.
The Dow industrials rose 19.77 to 12176.54, a record closing high, as investors shook off jitters about the midterm election. But pharmaceutical stocks declined amid concerns about Democratic control of Congress.
Cisco's profit rose 28% as revenue got a boost from the networking-equipment maker's acquisition of set-top box maker Scientific-Atlanta earlier this year.
A Morgan Stanley fund is stepping up its confrontation with the New York Times, submitting a shareholder proposal urging changes to corporate-governance practices.
Tuesday's election ended a partnership between a business-friendly White House and Congress. Democrat leaders have yet to spell out an agenda, but are talking about a minimum-wage raise and higher taxes on business.
Rumsfeld's resignation as defense secretary, in the wake of Democratic midterm gains, now opens the door for the biggest change of U.S. policy in Iraq since troops got bogged down there three years ago.
Of all the relationships between Bush and Congress's new leaders, the most important will be with Pelosi, but years of animosity will make cooperation hard -- as will pressures from the two leaders' very different political bases.
An quixotic candidate running on a light-rail platform may help determine who controls the Senate. Gail Parker, who raised just $1,200 for her campaign, earned enough votes in Virginia to have given either Webb or Allen a decisive win.
Tuesday's election earthquake is recasting the 2008 campaign landscape, leaving both parties' early presidential front-runners on firmer ground while exposing fault lines that could upend their campaigns.
Political junkies around the world spent the past few weeks trading on increasingly popular online markets that allow people to invest in futures contracts based on election outcomes.
Exit polls suggest that Democrats made big gains among religious demographic groups, a change that some say is pointing to religious voters' growing concerns about the environment and social justice.
Home buyers have a new reason to be wary in this weakening housing market: Real-estate agents increasingly are receiving big bonuses to push one home over another.
Car makers are increasingly targeting a new set of car buyers: ones who can't drive yet. The tactic aims to spur sales to parents -- and, down the road, to the children themselves.
