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Jun 25, 2011

BLOOMBERG News, Jun 25, 2011

Illinois governor signs election law favoring Democrats
Fri,24 Jun 2011 04:41 PM PDT
Reuters - CHICAGO (Reuters) - Illinois Democratic Governor Pat Quinn signed into law on Friday a new congressional district map that could reverse gains Republicans made in the state in 2010 midterm elections. Full Story1

Lawmakers send Obama message of discontent on Libya
Fri,24 Jun 2011 04:39 PM PDT
Reuters -
photoWASHINGTON (Reuters) - A move to curb President Barack Obama's military intervention in Libya was defeated in the U.S. House of Representatives on Friday, despite having the support of leaders of the majority Republicans.

Lawmakers harden positions on taxes, spending
Fri,24 Jun 2011 04:38 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Republicans and Democrats dug in their heels Friday as President Barack Obama prepared to wade into a divisive debate over taxes and spending aimed at heading off a default on the U.S. government's debt.

Oil release not a political move: Geithner
Fri,24 Jun 2011 03:52 PM PDT
Reuters - HANOVER, New Hampshire (Reuters) - U.S. Treasury Secretary Timothy Geithner defended the decision by industrialized nations to release emergency oil reserves into global energy markets, saying on Friday that it was not a political move. Full Story1

Europe must do more on debt crisis: Geithner
Fri,24 Jun 2011 02:58 PM PDT
Reuters - WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Friday that Europe needs to step up efforts to deal with the debt crisis in Greece and other parts of the continent. Full Story1

Treasury's Geithner: Oil release not political move
Fri,24 Jun 2011 02:12 PM PDT
Reuters - WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Friday that the decision by the international community to release government oil reserves was not a political move. Full Story1

U.S., South Korea to keep pressure on Pyongyang
Fri,24 Jun 2011 01:57 PM PDT
Reuters - WASHINGTON (Reuters) - The United States and South Korea on Friday signaled they would not ease pressure on North Korea's government, saying Pyongyang must show it had changed its ways before resumption of stalled nuclear talks could take place. Full Story1

U.N. council voices "grave concern" about Yemen
Fri,24 Jun 2011 01:46 PM PDT
Reuters - UNITED NATIONS (Reuters) - The U.N. Security Council on Friday voiced its "grave concern" at the situation in Yemen, ending months of disagreement that had prevented the 15-nation body from speaking unanimously on the unrest there. Full Story1

Geithner says economic weakness mostly temporary
Fri,24 Jun 2011 01:30 PM PDT
Reuters - WASHINGTON (Reuters) - Around two-thirds of recent softness in the U.S. economy can be attributed to temporary factors such as higher energy costs and Japan's earthquake, Treasury Secretary Timothy Geithner told CNBC on Friday. Full Story1

Oil release to help mitigate economic pressures: Geithner
Fri,24 Jun 2011 01:25 PM PDT
Reuters - WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Friday that the International Energy Agency's decision to release government-held crude oil reserves will help mitigate economic pressures. Full Story1

Obama administration eyes ways to aid rental housing
Fri,24 Jun 2011 01:09 PM PDT
Reuters - WASHINGTON (Reuters) - The Obama administration is exploring ways to support lending for rental housing as the troubled U.S. real estate sector has kept potential buyers on the sidelines, a top Treasury official said on Friday. Full Story1

Obama administration eyes ways to aid rental housing
Fri,24 Jun 2011 12:36 PM PDT
Reuters -
photoWASHINGTON (Reuters) - The Obama administration is exploring ways to support rental housing as the troubled U.S. real estate sector has kept potential buyers on the sidelines, a top U.S. Treasury official said on Friday.

Clinton says gratified by House Libya vote
Fri,24 Jun 2011 12:08 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Secretary of State Hillary Clinton on Friday praised the House of Representatives for rejecting a move to bar funding for U.S. military strike missions against Libya, saying it was important to keep up pressure on Libyan leader Muammar Gaddafi.

photoLONDON (Reuters) - From the streets of Cairo and Madrid to online forums and social media sites, "leaderless" protests are on the rise. But the very qualities that led to their short-term success may condemn them to failure in the long run.

Pot legalization effort unites odd couple in House
Fri,24 Jun 2011 11:14 AM PDT
Reuters - WASHINGTON (Reuters) - When the smoke clears, it may be remembered as a rare moment of political unity in Washington. Full Story1

Stop-gap debt limit hikes dangerous: Sen. Schumer
Fri,24 Jun 2011 09:48 AM PDT
Reuters - WASHINGTON (Reuters) - A leading Senate Democrat on Friday warned against Congress passing one or more stop-gap debt limit increases, saying lawmakers instead should pass a long-term hike in borrowing authority. Full Story1

U.S. sanctions on Iran companies raise questions: Russia
Fri,24 Jun 2011 09:47 AM PDT
Reuters - MOSCOW (Reuters) - The sanctions imposed by the United States on a major Iranian port operator and the country's national airline may affect Russian companies and "raise serious questions," the Russian Foreign Ministry said on Friday. Full Story1

Republicans walk out of budget talks over taxes
Fri,24 Jun 2011 09:36 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Republicans walked out of budget talks on Thursday, setting up a showdown between President Barack Obama and House Speaker John Boehner over how to extend U.S. borrowing and avoid a looming debt default.

Factbox: Top budgetary threats to state, local governments
Fri,24 Jun 2011 09:36 AM PDT
Reuters - WASHINGTON (Reuters) - The recession that began in 2007 created budget emergencies in most U.S. states and in many cities and counties, casting a harsh spotlight on long-standing fiscal problems. Full Story1

U.S. warns against new Gaza flotilla plans
Fri,24 Jun 2011 09:15 AM PDT
Reuters - WASHINGTON (Reuters) - The United States on Friday warned activists against plans to send a new aid flotilla to challenge Israel's blockade of the Gaza Strip, saying it would be irresponsible and dangerous. Full Story1

In Africa, Michelle Obama reflects on race
Fri,24 Jun 2011 09:00 AM PDT
Reuters -
photoCAPE TOWN (Reuters) - Considering she is the first black First Lady of the United States, Michelle Obama does not talk a lot about race.

Obama touts efforts to advance gay rights
Thu,23 Jun 2011 11:53 PM PDT
Reuters -
photoNEW YORK (Reuters) - President Barack Obama on Thursday touted his efforts to advance gay rights and promised further progress, but stopped short of declaring his support for legalizing same-sex marriage.

Sen. McConnell offers plan to move trade deals
Thu,23 Jun 2011 06:46 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Senate Republican leader Mitch McConnell, seeking to spur action on three long-delayed free trade agreements, said on Thursday he was prepared to help the White House renew a retraining program for workers displaced by trade but added a major demand of his own.

Patent overhaul bill clears House
Thu,23 Jun 2011 03:50 PM PDT
Reuters - WASHINGTON (Reuters) - Patent legislation that aims to clear a years-long backlog of applications and allows the patent office set its own fees was approved by the House of Representatives on Thursday. Full Story1

Debt talks on hold while top leaders decide: Biden
Thu,23 Jun 2011 03:40 PM PDT
Reuters - WASHINGTON (Reuters) - Vice President Joe Biden said on Thursday the debt talks he has led had gone into "abeyance" and made clear the next phase of the process is in the hands of President Barack Obama and congressional leaders. Full Story1

House to consider balanced-budget amendment
Thu,23 Jun 2011 03:37 PM PDT
Reuters - WASHINGTON (Reuters) - The House of Representatives will vote on a bill that would amend the Constitution to require Congress to balance the budget each year, Republican Leader Eric Cantor said on Thursday. Full Story1

Scenarios: Next steps in fight over spending, debt limit
Thu,23 Jun 2011 03:10 PM PDT
Reuters - WASHINGTON (Reuters) - Budget talks to win an urgently needed increase in government borrowing authority have entered a "new phase," the White House said on Thursday. Full Story1

White House criticizes House defense spending bill
Thu,23 Jun 2011 03:09 PM PDT
Reuters -
photoWASHINGTON (Reuters) - The Obama administration sharply criticized a $649 billion defense spending bill in the Republican-controlled House of Representatives on Thursday because of proposed spending cuts and limits on the handling of Guantanamo detainees.

Obama seeks to rally support for Afghan troop plan
Thu,23 Jun 2011 03:08 PM PDT
Reuters - FORT DRUM, New York (Reuters) - President Barack Obama defended his planned Afghanistan troop drawdown on Thursday, as he sought to rally support during a visit to an Army base in upstate New York. Full Story1

Afghan drawdown creates risk, U.S. military warns
Thu,23 Jun 2011 02:34 PM PDT
Reuters -
photoWASHINGTON (Reuters) - The U.S. military warned on Thursday that President Barack Obama's unexpectedly faster drawdown in Afghanistan created new risks, even as commanders said they backed the strategy to start winding down the unpopular, nearly decade-old war.

Republicans walk out of budget talks over taxes
Thu,23 Jun 2011 02:25 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Republicans walked out of budget talks on Thursday, setting up a showdown between President Barack Obama and House Speaker John Boehner over how to extend U.S. borrowing and avoid a looming debt default.

Obama voter support from oil tap could be fleeting
Thu,23 Jun 2011 02:10 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama stands to win a bump in voter support for his decision to tap emergency oil reserves, but the gains from lower fuel prices run the risk of evaporating before next year's election, political experts said.

Clinton warns Pakistan on U.S. military aid
Thu,23 Jun 2011 01:43 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Secretary of State Hillary Clinton warned Pakistan on Thursday that U.S. military aid could suffer if Islamabad failed to address rising U.S. doubts over its commitment to fighting Islamist militants.

Clinton says U.S. opposes threats in South China Sea
Thu,23 Jun 2011 01:03 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Secretary of State Hillary Clinton said on Thursday the United States was concerned that recent events in the South China Sea could undermine stability and opposed any threat of force to advance territorial claims.

Petraeus: Afghan drawdown faster than recommended
Thu,23 Jun 2011 12:30 PM PDT
Reuters - WASHINGTON (Reuters) - General David Petraeus, the top U.S. commander in Afghanistan, said on Thursday he had recommended a slower drawdown than President Barack Obama had decided upon, but backed the decision and said no military commander in history gets "all the forces he would like to have, for all the time." Full Story1

Obama takes flak for tapping emergency oil reserves
Thu,23 Jun 2011 12:27 PM PDT
Reuters - WASHINGTON (Reuters) - President Barack Obama took withering fire from the oil industry and Republicans for agreeing to release the nation's emergency oil supplies, a decision that senior officials said was prompted by the need to prop up the ailing economy.Full Story1

White House says debt talks now in "abeyance"
Thu,23 Jun 2011 12:04 PM PDT
Reuters - FORT DRUM, New York (Reuters) - The White House on Thursday said debt talks between Vice President Joe Biden and lawmakers had gone into "abeyance", but the search for a compromise to cut the U.S. deficit would continue. Full Story1

U.S. draft requests 4,200 Ethiopia troops for Abyei
Thu,23 Jun 2011 11:56 AM PDT
Reuters - UNITED NATIONS (Reuters) - The United States said on Thursday it submitted a draft resolution to the U.N. Security Council that would authorize the deployment of 4,200 Ethiopian troops to Sudan's disputed Abyei region. Full Story1

Reid says he, Obama and Boehner to handle debt talks
Thu,23 Jun 2011 11:37 AM PDT
Reuters - WASHINGTON (Reuters) - President Barack Obama, House of Representatives Speaker John Boehner and Senate Democratic Leader Harry Reid will take over stalled budget talks but a first meeting has not yet been set, Reid said on Thursday. Full Story1

Philippines wants U.S. diplomacy, aid in sea dispute
Thu,23 Jun 2011 11:33 AM PDT
Reuters -
photoWASHINGTON (Reuters) - The Philippines is counting on "unwavering" U.S. help in beefing up its naval capabilities to defend its territories in the South China Sea, Foreign Affairs Secretary Albert del Rosario said on Thursday.
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