Big Budget: President Obama today will unveil his $3.77 trillion budget, which includes modest new investments in infrastructure and education, major new taxes for the wealthy and significant reforms aimed at reducing the cost of Social Security and Medicare, the Washington Post reports.
Under Investigation: KPMG said it resigned as auditor of two U.S. corporations amid an FBI investigation into insider trading allegations involving leaked information and a former senior partner, Reuters reports.
Power Broker: The Promontory Financial Group, whose latest hire, Mary L. Schapiro, ran the Securities and Exchange Commission until late last year, has emerged as a major power broker in Washington, The New York Times reports.
Criminal Investigation: The U.S. asked to intervene in a lawsuit brought by Wynn Resorts Ltd. which accused Universal Entertainment Corp.Chairman Kazuo Okada of making improper payments to Philippine gaming regulators, Bloomberg reports.
Cuba Saga: A Florida couple accused of kidnapping their two young sons and fleeing by boat to Cuba were handed over to the United States. The children were returned to the maternal grandparents who have custody and the parents are in jail, the Associated Press reports.