Today: BLOOMBERG News, Jul 11, 2011

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Jul 11, 2011

BLOOMBERG News, Jul 11, 2011

Factbox: What's on the table in debt talks
Sun,10 Jul 2011 10:37 PM PDT
Reuters - (Reuters) - President Barack Obama and congressional leaders resume their White House talks on Monday to see if they have the makings of a deal to trim budget deficits and avert a looming default. Full Story1

U.S. sticks to guns on ousting Libya's Gaddafi
Sun,10 Jul 2011 02:17 PM PDT
Reuters - WASHINGTON (Reuters) - The United States remains firm that Libyan leader Muammar Gaddafi must give up his 41-year rule, the State Department said on Sunday, after France's defense minister advocated a compromise with Libyan rebels. Full Story1

Showdown looming on Korea trade without deal soon
Sun,10 Jul 2011 12:18 PM PDT
Reuters - WASHINGTON (Reuters) - President Barack Obama appears headed toward a fight with Republicans over a long-delayed trade deal with U.S. ally South Korea, even though both sides say they want it to pass Congress. Full Story1

U.S. accuses Syria of stirring protest outside embassy
Sun,10 Jul 2011 12:09 PM PDT
Reuters - WASHINGTON (Reuters) - The United States accused Syria of having organized an angry 31-hour protest outside the U.S. Embassy in Damascus over the weekend while the U.S. ambassador told the foreign minister that such anti-American "incitement" must stop. Full Story1

U.S. official meets Yemen president Saleh in Riyadh
Sun,10 Jul 2011 10:19 AM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama's top counter-terrorism official, John Brennan, urged Yemen President Ali Abdullah Saleh on Sunday to sign a transition plan that will lead to Saleh's departure.

Geithner: failure not option on debt deal
Sun,10 Jul 2011 08:37 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Treasury Secretary Timothy Geithner warned on Sunday that failure to raise the debt ceiling by August 2 could mean "catastrophic damage" to the economy, and an agreement must be reached.

Big debt deal off table: Mitch McConnell
Sun,10 Jul 2011 06:42 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Senate Republican leader Mitch McConnell said on Sunday he believed a broad $4 trillion deficit-reduction plan was off the table as part of a deal to raise the debt ceiling.

Tea Partiers show mixed views on foreign policy
Sun,10 Jul 2011 06:01 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Tea Party movement-backed lawmakers have marched in lockstep toward the goal of shrinking the government but that unity dissolves when it comes to America's role in the world.

Military chief visits China, says to maintain Asia presence
Sun,10 Jul 2011 03:02 AM PDT
Reuters -
photoBEIJING (Reuters) - The United States is committed to maintaining its military presence in Asia, its top military official said in China Sunday, adding that Washington was worried disputes in the resource-rich South China Sea could lead to serious conflict.

Obama grants U.S. recognition of South Sudan
Sat,9 Jul 2011 06:35 AM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama granted U.S. recognition of South Sudan as an independent state after it formally seceded from the north on Saturday.

Freshman senator gives Obama debt-limit fits
Sat,9 Jul 2011 06:05 AM PDT
Reuters -
photoWASHINGTON (Reuters) - As a freshman senator, Republican Pat Toomey punches above his weight in the high-stakes fight over increasing the U.S. debt limit.

Obama taps insider as fossil energy chief
Fri,8 Jul 2011 08:13 PM PDT
Reuters - WASHINGTON (Reuters) - President Barack Obama has tapped the current chief operating officer at the Energy Department's office of fossil energy to lead the unit as assistant secretary. Full Story1

NY and Connecticut governors push unions on layoffs
Fri,8 Jul 2011 04:33 PM PDT
Reuters - NEW YORK (Reuters) - Though the governors of New York and Connecticut parted company on some of their budget-fixing strategies, both Democrats are still struggling to persuade their unionized workers to accept cuts. Full Story1

Exclusive: Healthcare tax break on debt talks table
Fri,8 Jul 2011 11:52 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Limiting the tax break for employer-provided health insurance became a bargaining chip on Friday in congressional negotiations to beat an August 2 deadline for averting a U.S. default.

U.S. considers removing all tariffs for poor nations
Fri,8 Jul 2011 11:45 AM PDT
Reuters - WASHINGTON (Reuters) - The U.S. government said on Friday it is investigating the probable economic effects of eliminating all tariffs and quotas on goods from the world's least-developed countries (LDCs). Full Story1

Analysis: Can Romney capitalize on weak jobs numbers?
Fri,8 Jul 2011 11:26 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Friday's bleak unemployment report boosts Republicans hoping to oust President Barack Obama from the White House next year, but translating a difficult economy into election results will not be easy.

House approves $649 billion for defense in 2012
Fri,8 Jul 2011 11:03 AM PDT
Reuters - WASHINGTON (Reuters) - A $649 billion defense spending bill for next year easily passed the House of Representatives on Friday after four days of debate in which war-weary lawmakers sought to curb President Barack Obama's combat operations in Afghanistan and Libya. Full Story1

Democrats back power to block state consumer laws
Fri,8 Jul 2011 09:33 AM PDT
Reuters - WASHINGTON (Reuters) - Two Democratic senators are defending a top U.S. regulator's power to shield the nation's largest banks from certain state consumer financial laws. Full Story1

Debt limit fight fuels economic uncertainty: Obama
Fri,8 Jul 2011 08:41 AM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama cited gloomy jobs numbers as one more reason lawmakers must strike a deal soon to raise the debt limit, saying the impasse was fueling uncertainty within financial markets and in the business sector.

photoCHARLESTON, South Carolina (Reuters) - Tea party kingmaker Senator Jim DeMint said he will use a new book about his lonely campaign to cut government spending and reduce the size of government as a tool to recruit more Americans to his cause.

Minnesota shutdown, impasse draws debt downgrade
Thu,7 Jul 2011 05:45 PM PDT
Reuters - MINNEAPOLIS (Reuters) - Minnesota's government shutdown reached a seventh day on Thursday with no end in sight, and a major debt rating agency stripped the state of its AAA bond rating, citing the budget battle as a reason. Full Story1

China warns U.S. officials not to meet Dalai Lama
Thu,7 Jul 2011 04:12 PM PDT
Reuters -
photoBEIJING (Reuters) - China's Foreign Ministry warned U.S. officials on Thursday not to meet with visiting exiled spiritual leader the Dalai Lama, saying it hoped Washington "appropriately dealt" with Tibet-related issues.

Minnesota shutdown, impasse draws debt downgrade
Thu,7 Jul 2011 04:10 PM PDT
Reuters - MINNEAPOLIS (Reuters) - Minnesota's government shutdown reached a seventh day on Thursday with no end in sight, and a major debt rating agency stripped the state of its AAA bond rating citing the budget battle as a reason. Full Story1

New York governor pressures union with more layoffs
Thu,7 Jul 2011 03:46 PM PDT
Reuters - NEW YORK (Reuters) - New York Governor Andrew Cuomo ramped up the pressure on union officials to concede hundreds of millions of dollars in savings on Thursday with the delivery of layoff notices to more than 300 state workers. Full Story1

California credit outlook revised to stable by S&P
Thu,7 Jul 2011 03:45 PM PDT
Reuters - NEW YORK (Reuters) - Standard & Poor's revised California's credit outlook to stable on Thursday, one of the first significant pieces of good news for U.S. state and local governments as they work their way out of the Great Recession. Full Story1

US trade bills advance but clash clouds future
Thu,7 Jul 2011 03:43 PM PDT
Reuters - WASHINGTON (Reuters) - U.S. trade deals with South Korea, Colombia and Panama cleared initial hurdles in Congress on Thursday, but a party-line clash over a program to help workers displaced by trade threatened future action. Full Story1

Analysis: Taxes only symbolic in debt talks so far
Thu,7 Jul 2011 02:18 PM PDT
Reuters - WASHINGTON (Reuters) - Symbolic gestures and agreements in principle, but not substantive reforms, are likely to be the main tax policy result of urgent talks about raising the U.S. debt ceiling. Full Story1

Union campaign spending off sharply in 2011: report
Thu,7 Jul 2011 02:03 PM PDT
Reuters - WASHINGTON (Reuters) - Donations to federal political candidates by labor unions are down sharply this year, an analysis found on Thursday, in an ominous sign for the Democratic Party heading into next year's elections. Full Story1

Minnesota loses AAA rating on Fitch downgrade
Thu,7 Jul 2011 02:00 PM PDT
Reuters -
photoNEW YORK (Reuters) - Minnesota lost its top credit rating on Thursday as Fitch Ratings downgraded the state's general obligation bonds one notch to AA-plus, citing the budget impasse.

China warns U.S. officials not to meet Dalai Lama
Thu,7 Jul 2011 12:57 PM PDT
Reuters - BEIJING (Reuters) - China's Foreign Ministry warned U.S. officials on Thursday not to meet with visiting exiled spiritual leader the Dalai Lama, saying it hoped Washington "appropriately dealt" with Tibet-related issues. Full Story1

U.S. ambassador in Hama to support Syria protesters
Thu,7 Jul 2011 12:37 PM PDT
Reuters - WASHINGTON (Reuters) - The U.S. ambassador to Syria traveled to the restive city of Hama on Thursday to show solidarity with protesters concerned that Syrian security forces ringing the city could stage a new crackdown. Full Story1

Texas Governor Perry likely to run in 2012
Thu,7 Jul 2011 12:32 PM PDT
Reuters -
photoAUSTIN, Texas (Reuters) - Among political insiders in the Texas state capital, one thing is considered certain: Governor Rick Perry will jump into the Republican presidential race in the next few weeks.

Factbox: Republican Texas Governor Rick Perry
Thu,7 Jul 2011 12:11 PM PDT
Reuters - (Reuters) - Texas Governor Rick Perry is considering a run for the Republican presidential nomination in 2012. Full Story1

Senate deal would axe $6 billion ethanol tax credit
Thu,7 Jul 2011 10:46 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Three senators reached a deal on Thursday to repeal the $6 billion per year ethanol tax credit by the end of July, an agreement that must still be passed by Congress.

Obama expects "bottom lines" on debt limit on Sunday
Thu,7 Jul 2011 10:38 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Congressional leaders are still far apart on a wide range of budget issues but agree on the need to raise the debt ceiling, and will meet again in three days, President Barack Obama said on Thursday.

Tax reform on the table in debt talks: Boehner
Thu,7 Jul 2011 07:37 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Comprehensive tax reform that would close breaks and lower rates for businesses and individuals is under discussion in budget talks, House of Representatives Speaker John Boehner said on Thursday.

Cantor says hopes both sides can come together on debt
Thu,7 Jul 2011 05:38 AM PDT
Reuters -
photoWASHINGTON (Reuters) - House of Representatives Republican leader Eric Cantor said on Thursday he believed "both sides can come together" to reduce the debt.

China warns U.S. officials not to meet Dalai Lama
Thu,7 Jul 2011 02:47 AM PDT
Reuters - BEIJING (Reuters) - China's Foreign Ministry warned U.S. officials on Thursday not to meet with visiting exiled spiritual leader the Dalai Lama, saying it hoped Washington "appropriately dealt" with Tibet-related issues. Full Story1

Varney to step down as top antitrust official
Thu,7 Jul 2011 02:06 AM PDT
Reuters - WASHINGTON (Reuters) - Christine Varney, the top antitrust official in the U.S. Justice Department, is stepping down, the department said on Wednesday. Full Story1

Democrats challenge Obama's Afghan withdrawal plan
Wed,6 Jul 2011 09:35 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Democratic lawmakers fed up with the lingering war in Afghanistan launched a new challenge to President Barack Obama's plan for a measured U.S. troop withdrawal over the next year as they resumed debate on Wednesday on a $649 billion defense spending bill.

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