Today: BLOOMBERG News, Jul 15, 2011

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Jul 15, 2011

BLOOMBERG News, Jul 15, 2011

Clinton to end Asia trip with Shenzhen, China visit
Thu,14 Jul 2011 07:33 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Secretary of State Hillary Clinton will end a lengthy trip to Asia by meeting Chinese State Councilor Dai Bingguo in Shenzhen, China on July 25, the U.S. State Department said on Thursday.

Giuliani tests waters, warns of Republican debt risk
Thu,14 Jul 2011 07:15 PM PDT
Reuters -
photoHAMPTON, New Hampshire (Reuters) - Former New York Mayor Rudy Giuliani, weighing a second run for the White House, warned on Thursday that Republicans risked being blamed if the U.S. defaults on its debt.

Obama said ready to move on South Korea trade bill
Thu,14 Jul 2011 07:14 PM PDT
Reuters - WASHINGTON (Reuters) - President Barack Obama will soon send a free trade pact with South Korea to Congress for approval despite Republican threats to vote against it because of a retraining program for workers displaced by trade, White House Chief of Staff Bill Daley said on Thursday. Full Story

White House cuts next year not enough: McConnell
Thu,14 Jul 2011 05:36 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama has offered a spending cut of $2 billion for the coming fiscal year in White House budget talks, far below the level sought by Republicans, Senate Republican Leader Mitch McConnell said on Thursday.

S&P warns of U.S. downgrade if no debt deal reached
Thu,14 Jul 2011 05:13 PM PDT
Reuters - (Reuters) - Ratings agency Standard & Poor's has warned there is a one-in-two chance it could cut the United States' prized triple-A rating if a deal on raising the government's debt ceiling is not agreed soon. Full Story

Obama urges lawmakers to gauge support for debt deal
Thu,14 Jul 2011 03:51 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama urged congressional lawmakers on Thursday to go back to their party members and gauge support for components of a debt and deficit deal, a Democratic official said.

Republican Palin reports low 2011 fundraising
Thu,14 Jul 2011 02:40 PM PDT
Reuters -
photoWASHINGTON (Reuters) - The primary fundraising committee for Sarah Palin, who is considering whether to seek the Republican presidential nomination, raised a paltry $1.6 million in the first half of 2011 in a sign that she is not attracting big funds for a presidential run.

Giuliani tests waters, warns of Republican debt risk
Thu,14 Jul 2011 01:24 PM PDT
Reuters -
photoHAMPTON, New Hampshire (Reuters) - Former New York Mayor Rudy Giuliani, weighing a second run for the White House, warned on Thursday that Republicans risked being blamed if the U.S. defaults on its debt.

Boehner, Pelosi resist Camp David budget retreat
Thu,14 Jul 2011 09:07 AM PDT
Reuters - WASHINGTON (Reuters) - Congressional leaders on Thursday resisted the idea of a weekend country retreat with President Barack Obama to break a budget deadlock that is threatening the United States' top-notch credit rating. Full Story

Factbox: Republicans who may take on Obama in 2012
Thu,14 Jul 2011 08:02 AM PDT
Reuters - (Reuters) - Former Alaska Governor Sarah Palin says she will decide whether to join the race for the 2012 Republican presidential nomination in August or September, potentially adding her name to the list of contenders. Full Story

Romney leads Bachmann in matchup: Reuters/Ipsos poll
Thu,14 Jul 2011 08:02 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Republican Mitt Romney easily leads rival Michele Bachmann in a head-to-head matchup of the two top declared candidates for the party's 2012 presidential nomination, according to a Reuters/Ipsos poll released on Wednesday.

S&P warns lawmakers on debt limit downgrade: aide
Thu,14 Jul 2011 06:49 AM PDT
Reuters - WASHINGTON (Reuters) - Standard & Poor's has warned lawmakers privately that it would downgrade the country's debt if the Treasury Department is forced to prioritize payments because Congress does not raise the debt limit, a congressional aide said on Thursday. Full Story

N.Korea foreign minister, Clinton to attend meet in Bali
Thu,14 Jul 2011 03:01 AM PDT
Reuters - JAKARTA (Reuters) - Reclusive North Korea will make a rare appearance on the international stage next week as Foreign Minister Pak Ui-Chun attends a regional security conference along with Secretary of State Hillary Clinton on Indonesia's resort island of Bali.Full Story

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.

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