Today: BLOOMBERG News, Jul 14, 2011

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Jul 14, 2011

BLOOMBERG News, Jul 14, 2011

Analysis: Republicans own worst enemy in debt talks
Wed,13 Jul 2011 10:16 PM PDT
Reuters - WASHINGTON (Reuters) - Republican leaders trying to wrangle deep spending cuts from President Barack Obama face an even more implacable negotiating partner: their own rank and file. Full Story

Obama and lawmakers face fresh doubts on debt deal
Wed,13 Jul 2011 10:10 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Sharply divided by partisan bickering, President Barack Obama and top Republicans face growing doubts on Thursday about the prospects for reaching a deal to avoid a potentially disastrous debt default.

Key senator calls for special cyber security panel
Wed,13 Jul 2011 03:50 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Republican Senator John McCain called on Wednesday for the creation of a bipartisan panel to draft long-sought legislation to combat data breaches and espionage aimed at U.S. companies and defense networks.

Wisconsin Democrats say likely to recall governor in 2012
Wed,13 Jul 2011 03:16 PM PDT
Reuters - MADISON (Reuters) - Wisconsin Democrats are increasingly confident that efforts to recall the state's Republican governor in 2012 will succeed, a top official said on Wednesday, after the party scored an early win in its battle to unseat Republicans who backed a controversial anti-union law. Full Story

Pakistan's ISI chief visits U.S. as ties founder
Wed,13 Jul 2011 01:56 PM PDT
Reuters - ISLAMABAD/WASHINGTON (Reuters) - The head of Pakistan's powerful spy agency traveled to Washington on Wednesday for talks with CIA officials and lawmakers just days after the United States suspended a third of its aid to Pakistan military because of deepening tensions. Full Story

Republicans pledge allegiance -- often
Wed,13 Jul 2011 12:54 PM PDT
Reuters -
photoWASHINGTON (Reuters) - The Republican presidential contenders are pledging their allegiance -- to low taxes, reduced spending, healthy marriages and more.

Analysis: Republican Pawlenty faces critical month
Wed,13 Jul 2011 12:08 PM PDT
Reuters -
photoWASHINGTON (Reuters) - The clock is ticking for Republican presidential candidate Tim Pawlenty. He has one month to prove he can break out of the 2012 also-rans and emerge as a viable contender.

Obama 2012 campaign breaks cash goal, records
Wed,13 Jul 2011 11:05 AM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama raised a record-shattering $86 million for his re-election campaign from April to June, exceeding a $60 million quarterly target and easily eclipsing all Republican challengers.

No alternative to raising debt ceiling: White House
Wed,13 Jul 2011 10:17 AM PDT
Reuters - WASHINGTON (Reuters) - There is no alternative to raising the debt ceiling, and "heinous choices" about which bills would have to be paid first in the event of a default are a matter of due diligence, the White House said on Wednesday. Full Story

Gingrich says would bring troops home faster
Wed,13 Jul 2011 09:35 AM PDT
Reuters -
photoCHARLESTON, South Carolina (Reuters) - Republican presidential candidate and former House Speaker Newt Gingrich said on Wednesday that as president he would draw down U.S. troops in Iraq and Afghanistan as quickly as possible.

New rules put clamp on chatty Fed officials
Wed,13 Jul 2011 05:34 AM PDT
Reuters - WASHINGTON (Reuters) - The Federal Reserve, in a push to control the often wayward communications of its top officials, issued detailed rules on Tuesday dictating what they can and cannot do. Full Story

Analysis: Obama's tilt right could sting in 2012
Wed,13 Jul 2011 05:29 AM PDT
Reuters -
photoWASHINGTON/CHICAGO (Reuters) - President Barack Obama's tilt to the right in debt talks is denting enthusiasm within the army of volunteers who propelled him to the White House, and could cut into their financial support.

Democrats win early victory in Wisconsin recall primary
Tue,12 Jul 2011 09:54 PM PDT
Reuters - MILWAUKEE (Reuters) - Wisconsin Democrats won a preliminary victory on Tuesday in a bid to unseat Republican lawmakers who voted for a controversial anti-union law in the first of a series of special recall elections. Full Story

Senator calls for investigation of News Corp
Tue,12 Jul 2011 05:56 PM PDT
Reuters - NEW YORK (Reuters) - A senator called for an investigation of News Corp following the telephone hacking scandal at one of its British newspapers, signaling the crisis could spread to the United States. Full Story

Texas Governor Perry meets with former Pakistan leader
Tue,12 Jul 2011 02:18 PM PDT
Reuters -
photoAUSTIN (Reuters) - Texas Governor Rick Perry told former Pakistani President Pervez Musharraf on Tuesday that he wants to see the "historic" friendship between Pakistan and the United States continue in the face of recent conflicts over aid to that country's military, a spokesman said.

McConnell offers "backup" debt limit plan
Tue,12 Jul 2011 12:11 PM PDT
Reuters - WASHINGTON (Reuters) - Senate Republican leader Mitch McConnell proposed a "backup plan" on Tuesday that would allow a divided Congress to raise the debt ceiling with just the votes of Democrats. Full Story

Bill to reform Fannie, Freddie unlikely soon
Tue,12 Jul 2011 12:02 PM PDT
Reuters - WASHINGTON (Reuters) - The U.S. housing finance system badly needs an overhaul, but chances for winding down ailing mortgage giants Fannie Mae and Freddie Mac in the near term are remote, the top Republican on the U.S. House of Representatives Financial Services Committee said on Tuesday. Full Story

McConnell wants to force Obama's hand on debt
Tue,12 Jul 2011 11:50 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Senate Republican Mitch McConnell plans to offer legislation to force President Barack Obama to formally request an increase in the fast-approaching $14.3 trillion U.S. debt limit, congressional aides said on Tuesday.

Republican Paul not seeking House re-election
Tue,12 Jul 2011 11:37 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Republican Ron Paul said on Tuesday he will not seek re-election to the House of Representatives in order to focus on his uphill presidential bid.

Analysis: Panetta unafraid of candor in new Pentagon role
Tue,12 Jul 2011 11:25 AM PDT
Reuters -
photo(Note language in paragraph 7)

Business leaders urge action on debt ceiling
Tue,12 Jul 2011 08:18 AM PDT
Reuters - WASHINGTON (Reuters) - U.S. business leaders on Tuesday urged Congress and the White House to reach a deal to raise the federal debt ceiling and reduce the deficit in order to avoid dire economic consequences and set the stage for a stronger recovery. Full Story

McConnell: Democrats not offering serious cuts
Tue,12 Jul 2011 07:29 AM PDT
Reuters -
photoWASHINGTON (Reuters) - The top Republican in the Senate said on Tuesday that a "real solution" to the country's mounting debt is probably not possible as long as President Barack Obama remains in office.

Geithner wants debt limit deal by next week
Tue,12 Jul 2011 06:45 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Treasury Secretary Timothy Geithner on Tuesday said that time is running out for a deal to raise the debt limit, and wants a broad agreement with Congress in place by the end of next week at the latest.

Debt deal: How to kill three birds with one stone
Mon,11 Jul 2011 10:08 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama and Republican leaders have been mired in a dispute over taxes as they try to avert a looming debt default, but a deal is possible that would allow both sides to declare victory.

Boeing tanker strategy shifts $600 million to taxpayer
Mon,11 Jul 2011 08:31 PM PDT
Reuters - WASHINGTON (Reuters) - Boeing Co's winning bid for the U.S. Air Force's fiercely contested tanker development deal means it likely will show no profit in the program's first phase and shift $600 million in development costs to taxpayers, new government figures showed. Full Story

U.S. aid cut to Pakistan could hurt economy
Mon,11 Jul 2011 02:51 PM PDT
Reuters - ISLAMABAD (Reuters) - A U.S. decision to suspend $800 million in military aid will not affect Pakistani army operations, a Pakistani military spokesman said on Monday. But analysts say the move is likely to fray ties and could harm the country's economy. Full Story

New Jersey Democrats fail to override Christie budget cuts
Mon,11 Jul 2011 02:50 PM PDT
Reuters -
photoNEW YORK (Reuters) - New Jersey's Democrat-controlled state legislature on Monday tried and failed to reverse 15 vetoes that were part of Republican Governor Chris Christie's enacted 2012 budget.

Business leader sees Obama submitting trade pacts soon
Mon,11 Jul 2011 02:46 PM PDT
Reuters -
photoWASHINGTON (Reuters) - A top U.S. business leader said on Monday he expected President Barack Obama to formally submit free trade pacts with South Korea, Colombia and Panama to Congress in coming days and urged their quick approval.

Boehner pushes for immediate spending cuts: aide
Mon,11 Jul 2011 02:26 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Speaker of the House of Representatives John Boehner pushed for immediate spending cuts at Monday's debt-reduction meeting with President Barack Obama and fellow congressional leaders, a Republican aide said.

U.S. may act unilaterally vs Iran-armed Iraq militias
Mon,11 Jul 2011 12:10 PM PDT
Reuters -
photoBAGHDAD (Reuters) - The United States will take unilateral action when needed to deal with the threat to American troops in Iraq from Shi'ite militias armed by Iran, Secretary of Defense Leon Panetta said Monday.

U.S. aid cut to Pakistan could hurt economy
Mon,11 Jul 2011 11:21 AM PDT
Reuters - ISLAMABAD (Reuters) - A U.S. decision to suspend $800 million in military aid will not affect Pakistani army operations, a Pakistani military spokesman said on Monday. But analysts say the move is likely to fray ties and could harm the country's economy. Full Story

Rep. Frank backs higher Fannie, Freddie loan limits
Mon,11 Jul 2011 10:15 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Congress should permanently extend increased loan limits on mortgages backed by Fannie Mae and Freddie Mac that are set to expire, the top Democrat of the House Financial Services Committee said on Monday.

Cantor hopeful of deal, opposed to tax hike in 2013
Mon,11 Jul 2011 10:04 AM PDT
Reuters -
photoWASHINGTON (Reuters) - House of Representatives Republican leader Eric Cantor said on Monday he was hopeful that both sides could come together on a bipartisan deal to reduce the U.S. debt but said he still opposed any increase in taxes in 2013.

Obama rejects any short-term deal on debt ceiling
Mon,11 Jul 2011 08:26 AM PDT
Reuters - WASHINGTON (Reuters) - President Barack Obama said on Monday that he would refuse to consider a short-term stop gap measure to raise the debt ceiling. Full Story

Factbox: What's on the table in debt talks
Mon,11 Jul 2011 08:23 AM 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 Story

Boehner: spending curbs, no tax hikes for debt deal
Mon,11 Jul 2011 08:23 AM PDT
Reuters -
photoWASHINGTON (Reuters) - John Boehner, the top Republican in Congress, told White House talks on Sunday that budget cuts must exceed the amount by which the debt ceiling is raised and said any deal must exclude tax hikes.

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 Story

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 Story

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 Story

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.

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