Today: BLOOMBERG News, Jul 24, 2011

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Jul 24, 2011

BLOOMBERG News, Jul 24, 2011

Obama offers condolences to Norway over deaths
Sat,23 Jul 2011 01:17 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama called Norwegian Prime Minister Jens Stoltenberg on Saturday to offer U.S. condolences over the killing of dozens of Norwegians and pledged assistance if needed.

Lawmakers look at $3 trillion-$4 trillion deal: aide
Sat,23 Jul 2011 12:52 PM PDT
Reuters - WASHINGTON (Reuters) - Lawmakers are making a last-ditch effort to put together $3 trillion to $4 trillion in deficit reductions to clear the way to raise the debt limit, a congressional Republican leadership aide told Reuters. Full Story

Boehner says lawmakers seek debt limit solution
Sat,23 Jul 2011 11:39 AM PDT
Reuters -
photoWASHINGTON (Reuters) - House of Representatives Speaker John Boehner said on Saturday he and other congressional leaders are seeking a bipartisan solution to raise the debt limit by an August 2 deadline and avoid a U.S. default.

White House warns Congress not to play politics with debt
Sat,23 Jul 2011 11:16 AM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama continues to oppose a short-term extension of the country's debt ceiling, which he feels could lead to the U.S. credit rating being downgraded, the White House said on Saturday.

Congress working on new debt legislation: McConnell
Sat,23 Jul 2011 10:11 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Senate Republican leader Mitch McConnell said on Saturday congressional leaders were working on fresh legislation to prevent the United States defaulting on its debt.

Short-term debt plan not being considered: Pelosi
Sat,23 Jul 2011 10:01 AM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama and congressional leaders are "definitely not" considering a short-term debt limit increase in their weekend negotiations to break an impasse, House of Representatives Democratic leader Nancy Pelosi told reporters on Saturday.

Debt talks meeting ends at White House: official
Sat,23 Jul 2011 09:27 AM PDT
Reuters - WASHINGTON (Reuters) - Debt talks between President Barack Obama and congressional leaders on Saturday have ended, a White House official said. Full Story

U.S. wastes $34 billion in Afghan and Iraq contracting
Sat,23 Jul 2011 09:04 AM PDT
Reuters - WASHINGTON (Reuters) - The United States has wasted some $34 billion on service contracts with the private sector in the wars in Iraq and Afghanistan, according to a study being finalized for Congress. Full Story

Factbox: How the Obama/Boehner debt talks unraveled
Sat,23 Jul 2011 08:32 AM PDT
Reuters - WASHINGTON (Reuters) - President Barack Obama and House Speaker John Boehner had agreed on the rough outlines of a far-reaching budget deal that would allow the United States to avert an imminent default before Boehner broke off talks on Friday. Full Story

Boehner to insist on deep cuts for debt increase
Sat,23 Jul 2011 07:19 AM PDT
Reuters -
photoWASHINGTON (Reuters) - House Speaker John Boehner will stick to his demand for spending cuts greater than the size of an increase in the U.S. debt limit at an 11 a.m. EDT meeting with President Barack Obama on Saturday.

U.S. calls for more clarity on South China Sea claims
Fri,22 Jul 2011 10:26 PM PDT
Reuters -
photoNUSA DUA, Indonesia (Reuters) - The United States called on Saturday on rivals in the disputed South China Sea to back up territorial claims with legal evidence -- a challenge to China's declaration of sovereignty over vast stretches of the region.

U.S. calls for more clarity on South China Sea claims
Fri,22 Jul 2011 09:22 PM PDT
Reuters - NUSA DUA, Indonesia (Reuters) - Secretary of State Hillary Clinton on Saturday calledon rivals in the disputed South China Sea to back up territorial claims with legal evidence -- a challenge to China's declaration of sovereignty over vast stretches of the region. Full Story

Sen. Reid won't agree to short budget deal: aide
Fri,22 Jul 2011 05:17 PM PDT
Reuters - WASHINGTON (Reuters) - Senate Majority Leader Harry Reid is not interested in negotiating a short-term deficit-reduction and debt limit extension deal and wants a long-term package, Reid spokesman Adam Jentleson told Reuters. Full Story

Court shoots down SEC shareholder election rule
Fri,22 Jul 2011 03:22 PM PDT
Reuters -
photoWASHINGTON (Reuters) - An appeals court has rejected a new Securities and Exchange Commission rule intended to make it easier for shareholders to nominate directors to corporate boards.

Republican Party makes big gains among whites
Fri,22 Jul 2011 01:41 PM PDT
Reuters - WASHINGTON (Reuters) - The Republican Party has made big gains among white voters, particularly younger and poorer ones, since Democrat Barack Obama was elected president in 2008, according to a survey released on Friday. Full Story

Leon Panetta says no "blank check" for Pentagon spending
Fri,22 Jul 2011 01:19 PM PDT
Reuters - WASHINGTON (Reuters) - Defense Secretary Leon Panetta pledged on Friday the Pentagon "will not break faith" with men and women in uniform as it deals with the challenge of cutting hundreds of billions of dollars in military spending. Full Story

U.S. delays final report on BP oil spill probe
Fri,22 Jul 2011 12:14 PM PDT
Reuters -
photoWASHINGTON (Reuters) - A U.S. team probing the causes of last year's massive BP oil spill has delayed the release of its final report in order to more fully weigh the evidence, investigators said on Friday.

Jon Huntsman plans more aggressive race
Fri,22 Jul 2011 12:13 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Republican Jon Huntsman plans a more aggressive approach on the 2012 campaign trail, boosting his profile and drawing sharper distinctions with rivals in an effort to enliven his sagging presidential bid.

Wall Street still gives big cash to Obama
Fri,22 Jul 2011 10:30 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Despite howls of protests from many on Wall Street over some of President Barack Obama's policies, financial sector employees are giving at a greater rate to his re-election bid than during his last campaign.

Factbox: Top budgetary threats to state, local governments
Fri,22 Jul 2011 10:07 AM PDT
Reuters - WASHINGTON (Reuters) - The recession that began in 2007 created budget emergencies in most U.S. states and many cities and counties, casting a harsh spotlight on long-standing fiscal problems. Full Story

Pentagon and its supporters brace for deeper cuts
Thu,21 Jul 2011 10:01 PM PDT
Reuters - WASHINGTON (Reuters) - The Pentagon and its supporters are bracing for the likelihood of much deeper reductions in the U.S. military's budget, as budget negotiators now eye defense cuts of $800 billion or more over the next decade. Full Story

House passes bill aimed at new consumer agency
Thu,21 Jul 2011 06:44 PM PDT
Reuters - WASHINGTON (Reuters) - Republicans in the House of Representatives marked the anniversary of the 2010 financial oversight law on Thursday by passing legislation aimed at scaling back the powers of the new Consumer Financial Protection Bureau. Full Story

USTR says deal needed before sending trade pacts
Thu,21 Jul 2011 04:54 PM PDT
Reuters - WASHINGTON (Reuters) - President Barack Obama's administration on Thursday fended off Republican demands that it send three long-delayed free trade pacts to Congress for approval, saying it first needed more assurance that a retraining program for displaced workers will be extended. Full Story

White House insists debt deal to include revenues
Thu,21 Jul 2011 12:39 PM PDT
Reuters - WASHINGTON (Reuters) - The White House stressed on Thursday that President Barack Obama is seeking a deficit-cutting agreement that includes some added revenues alongside spending curbs in order to raise the debt ceiling. Full Story

Huntsman campaign manager quits 2012 White House bid
Thu,21 Jul 2011 12:02 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Republican presidential contender Jon Huntsman's campaign manager resigned Thursday in a blow to an election effort that has failed to catch fire.

Factbox: Texas Governor Rick Perry
Thu,21 Jul 2011 10:48 AM PDT
Reuters - (Reuters) - Texas Governor Rick Perry appears likely to make a 2012 Republican presidential run, and his candidacy could dramatically shake up the field. Full Story

Analysis: Perry candidacy would reshape 2012 race
Thu,21 Jul 2011 10:48 AM PDT
Reuters -
photoWASHINGTON (Reuters) - The likely entrance of Texas Governor Rick Perry in the 2012 Republican White House race promises to dramatically reshape the field, pushing aside lesser contenders and threatening early leader Mitt Romney.

White House sees momentum on debt deal, but "not close"
Thu,21 Jul 2011 10:37 AM PDT
Reuters - WASHINGTON (Reuters) - The White House said on Thursday it saw momentum for a "balanced" deficit deal, but it denied reports that President Barack Obama and Republican House of Representatives speaker John Boehner were close to a pact. Full Story

White House sees momentum toward "balanced" debt deal
Thu,21 Jul 2011 10:20 AM PDT
Reuters - WASHINGTON (Reuters) - The White House said on Thursday there was momentum behind the idea of a balanced approach to a "significant agreement" on debt and deficits. Full Story

Snapshot: Developments in U.S. debt talks
Thu,21 Jul 2011 09:55 AM PDT
Reuters - WASHINGTON (Reuters) - Here is what's happening on Thursday in negotiations to raise the U.S. government's $14.3 trillion debt limit by August 2 and avoid a U.S. credit default: Full Story

Top Fed official got waiver on AIG holdings: GAO
Thu,21 Jul 2011 09:48 AM PDT
Reuters -
photoWASHINGTON (Reuters) - New York Federal Reserve Bank President William Dudley received a waiver allowing him to keep investments in firms the Fed was rescuing at the height of the financial crisis when he was a top staffer, a congressional watchdog agency found.

Republican enforcer of "no tax" pledge signals leeway
Thu,21 Jul 2011 08:12 AM PDT
Reuters - WASHINGTON (Reuters) - An influential conservative activist who has pushed Republican lawmakers to reject tax increases signaled some leeway on the issue Thursday, which a leading Democrat said may help lawmakers reach a deal to reduce the deficit and raise the U.S. debt limit. Full Story

CFTC should follow Congress on Dodd-Frank: Wetjen
Thu,21 Jul 2011 06:49 AM PDT
Reuters - WASHINGTON (Reuters) - Mark Wetjen, selected as a commissioner at the U.S. futures regulator, said the agency should follow the intent of Congress when writing nearly 50 rules to implement the sweeping Dodd-Frank legislation. Full Story

Mitt Romney says Obama's policies hurt economy
Thu,21 Jul 2011 06:24 AM PDT
Reuters -
photoLOS ANGELES (Reuters) - Republican presidential candidate Mitt Romney took aim at President Barack Obama's economic leadership on Wednesday, saying the Democrat's policies were hurting, not helping, the U.S. economy.

Obama says his "stewardship" to decide '12 election
Wed,20 Jul 2011 04:31 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama said on Wednesday that the deciding factor for voters next year in his re-election campaign will be their verdict on his track record, not the Republican running against him.

New poll carries warning signs for Obama in 2012
Wed,20 Jul 2011 04:28 PM PDT
Reuters -
photoWASHINGTON (Reuters) - A poll released on Wednesday carried warning signs for President Barack Obama's re-election chances in 2012.

Bachmann seeks to reassure voters over migraines
Wed,20 Jul 2011 03:53 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Republican presidential candidate Michele Bachmann sought on Wednesday to reassure voters that her migraines are not debilitating, releasing a doctor's statement that said she is able to manage them.

Senator Kohl says AT&T deal should be blocked
Wed,20 Jul 2011 02:28 PM PDT
Reuters - WASHINGTON (Reuters) - Senator Herb Kohl, chairman of the U.S. Senate's antitrust subcommittee, urged the federal government to block AT&T's $39 billion plan to buy T-Mobile USA, a unit of Deutsche Telekom. Full Story

Analysis: Tough fight for Obama in 2012 in some key states
Wed,20 Jul 2011 12:41 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama bucked decades-old electoral trends to win the White House in 2008, taking nine states that had supported Republican George W. Bush four years earlier.

photo(Reuters) - The White House and a number of congressional leaders are seeking to put elements of a new bipartisan deficit-cutting plan into what may be a last-ditch bid to avert a debt default.

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