Steve Chiotakis

Iran's navy chief said today his country could very easily close the world's most important oil transit channel. The threat to close it comes after the West imposed more sanctions on Iran over its nuclear program.

Iran has threatened to block the strait if President Obama signs a bill to impose sanctions to keep it from making nuclear weapons. The impact on oil prices worldwide would be major and immediate.

After signing similar deals with China and Korea, this third move shows that Japan might be on its way back to prominence.

The S&P Case-Schiller Index is out today, and it shows home prices in October fell in 19 out of 20 major cities.

A good holiday shopping season for most retailers wasn't enough to help ailing Sears, which will close around 100 stores in the coming months.

Governor Robert Bentley of Alabama discusses the federal budget, disaster relief spending, and why his state is cracking down on immigration

A vote today in Italy passes a round of austerity measures suggested by newly appointed Prime Minister Mario Monti. But is it enough to make a dent in the problem?

Governor Robert Bentley of Alabama discusses illegal immigration, the federal budget, and disaster relief spending.

Weekly jobless numbers out this week show positive signs for the country's economy recovery, but mortage lending rates tell a different story.

David Mark, senior editor at Politico, explains why he thinks lawmakers will hammer out a deal on payroll tax cuts and the budget soon.