Fears mount over water contamination as New York plans to allow fracking, a controversial method of extracting natural gas that involves shooting chemicals underground.

The program that allowed students to take out a second Pell Grant for summer school was cut as part of the budget deal that avoided a government shutdown.

Britain puts a new bribery law into effect today, but critics say it will probably not prove as effective as American anti-corruption rules.

In one of his first interviews since leaving the White House, former National Economic Council director Larry Summers says he believes "reason will prevail" in negotiations over the debt limit because a default would spark a second, scarier economic crisis, a "Lehman Brothers on steroids."

As the clock ticks down to the August default deadline, the White House and Congress have agreed to continue debt discussions over the Fourth of July break.

In a new series of public spending cuts, the British conservative government is proposing a pay cut for the Queen of England.

Jill Schlesinger, editor-at-large at CBS/MoneyWatch, takes a look back at the second quarter and discusses how debt talks will weigh on the start of the third quarter.

For the first time since 2005, the Minnesota government has shut down after lawmakers failed to resolve a budget stalemate, leaving thousands of state employees without work.

The federal government unveiled the latest version of a plan to save the northern spotted owl, as the bird's population continues to decline. But some of the new rules may come up against the timber industry.