The Justice Department has sent subpoenas to several major airlines as part of an investigation into “possible unlawful coordination” to limit capacity increases, and thereby keep ticket prices high, a department spokeswoman says.The department sent civil investigative demand letters to airlines on Tuesday, Justice spokeswoman Emily Pierce said.
President Obama said that it was past time for the U.S. to re-establish diplomatic relations with Cuba, as he announced that the two countries were reopening their embassies after more than 50 years.Secretary of State John Kerry plans to attend the opening of the U.S. Embassy in Cuba this summer.Earlier Wednesday in Havana, a U.S. diplomat delivered a note from Obama to Cuban President Raul Castro restoring diplomatic ties. Cuban state-run TV broadcast live Obama’s speech from the White House Rose Garden, and an anchor read aloud a letter from Castro to Obama.
Former Florida Gov. Jeb Bush and businessman Donald Trump top the list of GOP presidential contenders in a new CNN/ORC national poll following their back-to-back campaign launches in mid-June.They are the only two Republican candidates holding double-digit support among Republicans and Republican-leaning independents.Democrat Hillary Clinton, though, continues to lead all GOP candidates in head-to-head general election matchups.
The Greek government is now ready to sign on to a bailout package it threw out just days ago, but the about-face won’t fix the country’s crisis anytime soon.Prime Minister Alexis Tsipras wrote to European leaders and the International Monetary Fund late Tuesday, accepting most of the conditions they had attached to releasing more cash, a European official told CNNMoney. The official confirmed the contents of a letter first reported by the Financial Times. European finance ministers will meet Wednesday to discuss the dramatic reversal in the Greek government’s position. But it won’t spell the immediate end of Greece’s financial crisis, even if the about-face is given a favorable reception by the country’s creditors. The only mechanism for Europe to hand over rescue loans expired at midnight. And Greece defaulted on a payment to the IMF Tuesday. A new bailout agreement could take weeks to negotiate. Meanwhile, Greek banks remained shuttered, and the country’s economy weakens by the day.
The U.S. has defeated Germany 2-0 to reach the Women’s World Cup soccer final. Germany came into the match as the No. 1 ranked team.The United States will meet either England or Japan for the title on Sunday. England and Japan play on Wednesday.
Greece has defaulted on the 1.5 billion euros ($1.7 billion) it owes the International Monetary Fund, becoming the first developed economy to default to the IMF. It is the biggest debt default by a country ever.Greece is 323 billion euros ($352.7 billion) in debt to other European countries, the European Central Bank and the International Monetary Fund. The sum is equivalent to more than 175% of the country’s GDP. Greece took preemptive measures Monday, closing its banks and markets until July 6. The move caused European stocks to fall. The government in Athens also restricted bank withdrawals to 60 euros (U.S. $66) a day.Get complete coverage of breaking news on CNN TV, CNN.com and CNN Mobile
Republican presidential candidate Jeb Bush is worth as much as $22 million, his campaign says.The Bush campaign released 33 years of tax returns — the most ever by a presidential candidate — that showed he had an average effective tax rate of 36%. He’s given almost $750,000 to charity since leaving the Florida governor’s office in 2007. That is when Bush’s net worth exploded as he began earning big paychecks from speeches, consulting and sitting on corporate boards.