Standard & Poor's is paying about $1.38 billion to settle government allegations that it knowingly inflated its ratings of risky mortgage investments that helped trigger the financial crisis, the Justice Department announced Tuesday.

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Ratings company Standard & Poor's will pay $77 million to resolve an investigation into mortgage-backed securities.

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The announcement comes a week after the Board of Public Works voted to make $84 million in cuts and fund transfers in the budget year that began July 1.

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NEW YORK — The stock market hit an all-time high Thursday as investors put the government shutdown and debt ceiling crisis behind them and focused on corporate earnings. The Standard & Poor’s 500 index rose 11.61 points, or 0.7 percent, ...

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WASHINGTON — Barriers came down at federal memorials and National Park Service sites and thousands of furloughed federal workers — relieved but wary — returned to work across the country Thursday after 16 days off the job due to the ...

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WASHINGTON — U.S. home prices rose 12.4 percent in July compared with a year ago, the most since February 2006. An increase in sales on a limited supply of available homes drove the gains. The Standard &Poor’s/Case-Shiller 20-city home price ...

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WASHINGTON — Standard & Poor’s Ratings Services upgraded its outlook Monday for the U.S. government’s long-term debt. S&P cited the government’s strengthened finances, a recovering U.S. economy and some easing of Washington’s political gridlock. The credit rating service raised its ...

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NEW YORK — The Dow Jones industrial average is punching through another milestone: its first close above 15,000. The Dow rose 87 points to 15,056 points Tuesday, a gain of 0.6 percent. It was another milestone in the market’s epic ...

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NEW YORK — The stock market has reached another milestone. The Standard & Poor’s 500 index closed at a record high Thursday, beating the mark it set in October 2007, a year before the peak of the financial crisis. The ...

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WASHINGTON — Standard & Poor’s is prepared to spend years beating back a federal lawsuit that accuses the company of giving falsely high ratings to mortgage investments that helped trigger the financial crisis, executives said Tuesday. “Rest assured, we will ...

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