Today: BLOOMBERG News, Aug 06, 2011

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Aug 6, 2011

BLOOMBERG News, Aug 06, 2011

Obama proposes tax credits for hiring veterans
Fri,5 Aug 2011 03:03 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama on Friday proposed $120 million in new tax credits for businesses that hire U.S. veterans returning from Iraq and Afghanistan at a time of stubbornly high unemployment at home.

Analysis: Dueling narratives emerge from debt fight
Fri,5 Aug 2011 02:41 PM PDT
Reuters - WASHINGTON (Reuters) - The White House and Republicans are competing to shape the first draft of history after an epic battle over the debt, but the next chapter could be critical in deciding who wins the message war. Full Story

Watchdogs seek source of money to Romney backer
Fri,5 Aug 2011 01:54 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Two campaign watchdogs asked federal authorities on Friday to investigate a $1 million donation to a group supporting Republican presidential hopeful Mitt Romney by a company that existed for only a few months.

Obama on economy: We are going to get through this
Fri,5 Aug 2011 12:53 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama said on Friday the U.S. economy had faced a "tumultuous year" and more measures were needed to boost job growth but he reassured Americans that the situation would improve.

Analysis says federal government revenues up so far this year
Fri,5 Aug 2011 10:20 AM PDT
Reuters - WASHINGTON (Reuters) - The U.S. government recorded a $1.1 trillion deficit during the first 10 months of the fiscal year even though revenues have increased more than spending, the non-partisan Congressional Budget Office said on Friday. Full Story

U.S. jobs report encouraging: White House adviser
Fri,5 Aug 2011 07:07 AM PDT
Reuters -
photoWASHINGTON (Reuters) - It is encouraging that U.S. job growth accelerated more than expected in July, but the country still has a long way to go to recovery, a top White House adviser said on Friday.

Joe Biden to visit China, Japan, Mongolia
Fri,5 Aug 2011 06:32 AM PDT
Reuters - WASHINGTON (Reuters) - Vice President Joe Biden will travel to China later this month to help strengthen U.S. ties with Beijing in a trip that will also include stops in Japan and Mongolia, the White House said Thursday. Full Story

Jon Huntsman defends strategist, campaign
Thu,4 Aug 2011 05:52 PM PDT
Reuters -
photoDERRY, New Hampshire (Reuters) - Republican presidential contender Jon Huntsman defended his chief strategist on Thursday after a report of turmoil and dissension in his struggling White House campaign.

Jon Huntsman defends strategist, campaign
Thu,4 Aug 2011 05:38 PM PDT
Reuters -
photoDERRY, New Hampshire (Reuters) - Republican presidential contender Jon Huntsman defended his chief strategist on Thursday after a report of turmoil and dissension in his struggling White House campaign.

Disapproval of Congress hits new high: poll
Thu,4 Aug 2011 05:18 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Disapproval of Congress rose to an all-time high after weeks of rancorous partisan battles over raising the U.S. debt ceiling took the country to the brink of default, according a New York Times/CBS News public opinion poll published on Thursday.

Pentagon steps up campaign against more defense cuts
Thu,4 Aug 2011 04:11 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Defense Secretary Leon Panetta warned against a "devastating" second round of defense cuts on Thursday as the Pentagon stepped up its campaign to convince Congress to look elsewhere for savings as it works to trim the $1.4 trillion deficit.

Republican backs beleaguered campaign strategist
Thu,4 Aug 2011 03:11 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Republican presidential contender Jon Huntsman defended his chief strategist on Thursday after a report of turmoil and dissension in his struggling White House campaign.

Obama urges Geithner to stay as Treasury chief
Thu,4 Aug 2011 03:09 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama has asked Timothy Geithner to stay on as Treasury secretary and a decision is expected soon, officials said on Thursday.

Factbox: Potential replacements for Treasury's Geithner
Thu,4 Aug 2011 03:09 PM PDT
Reuters - (Reuters) - President Barack Obama has asked Timothy Geithner to stay on as U.S. Treasury Secretary and a decision is expected soon, officials said on Thursday. Full Story

Obama orders measures to help U.S. stop atrocities
Thu,4 Aug 2011 02:24 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama ordered new measures on Thursday to boost the U.S. ability to stop mass atrocities such as genocide and bar perpetrators of war crimes from entering the United States.

House Democrats wary of "path" to trade deals
Thu,4 Aug 2011 01:58 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Two senior Democrats on Thursday reacted warily to a Senate deal to ensure passage of three long-delayed free trade agreements, saying they wanted an absolute guarantee that a retraining program for displaced workers would also be approved.

Varney aide acting U.S. Justice Department antitrust head
Thu,4 Aug 2011 12:53 PM PDT
Reuters - WASHINGTON (Reuters) - Sharis Pozen, the top deputy to the Justice Department's antitrust chief, will become acting head of the division when Christine Varney leaves on Friday, the agency said on Thursday. Full Story

Joe Biden to visit China, Japan, Mongolia
Thu,4 Aug 2011 11:43 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Vice President Joe Biden will travel to China later this month to help strengthen U.S. ties with Beijing in a trip that will also include stops in Japan and Mongolia, the White House said Thursday.

photoWASHINGTON (Reuters) - Emboldened by concessions wrung from their own leadership and President Barack Obama during the debt limit fight, Tea Party-affiliated lawmakers will likely remain a driving force in the Republican Party -- and possibly induce gridlock until the 2012 elections.

Factbox: Top contenders for budget/tax super committee
Thu,4 Aug 2011 06:09 AM PDT
Reuters - (Reuters) - Here is a list of lawmakers seen by analysts and congressional aides as some of the front-runners for selection to a 12-member budget-and-tax "super" committee being set up as part of the U.S. debt ceiling deal. Full Story

Factbox: Five endangered Dodd-Frank rules
Wed,3 Aug 2011 09:38 PM PDT
Reuters - (Reuters) - The recent defeat of the U.S. Securities and Exchange Commission's proxy access rule in a federal appeals court could embolden industry groups to mount similar legal challenges to other rules required by the Dodd-Frank financial oversight law.Full Story

Analysis: Bruised regulators brace for Dodd-Frank court fights
Wed,3 Aug 2011 09:15 PM PDT
Reuters - WASHINGTON (Reuters) - U.S. regulators are scrambling to bulletproof dozens of financial reforms after a court last month tossed out an important part of the Dodd-Frank financial oversight law. Full Story

Congress leaders agree on path to trade deals
Wed,3 Aug 2011 08:33 PM PDT
Reuters - WASHINGTON (Reuters) - Congressional leaders said on Wednesday they have agreed upon a path to approve three long-delayed free trade agreements and a program to help U.S. workers who lose their jobs because of foreign competition. Full Story

Oregon Representative Wu resigns in wake of controversy
Wed,3 Aug 2011 06:43 PM PDT
Reuters - WASHINGTON (Reuters) - Oregon Democratic Congressman David Wu, accused of an unwanted sexual encounter with a campaign donor's 18-year-old daughter, gave notice of his resignation late on Wednesday. Full Story

White House explores options on FAA shutdown
Wed,3 Aug 2011 05:16 PM PDT
Reuters - WASHINGTON (Reuters) - The White House said on Wednesday it was looking at ways to end a partial shutdown of the Federal Aviation Administration that has halted airport construction projects employing thousands of people and extended the summer's political battles. Full Story

Top adviser quits Pawlenty presidential campaign
Wed,3 Aug 2011 04:43 PM PDT
Reuters - WASHINGTON (Reuters) - Republican presidential candidate Tim Pawlenty's top policy adviser has left the campaign after less than two months, a Pawlenty spokesman said on Wednesday. Full Story

What do you get for preventing a U.S. default? Fries
Wed,3 Aug 2011 03:54 PM PDT
Reuters - WASHINGTON (Reuters) - Aside from the warm fuzzy feeling of having helped prevent a recession, what does a White House staffer get for working long hours to raise the U.S. debt ceiling? Full Story

Panetta warns against sweeping defense budget cuts
Wed,3 Aug 2011 03:24 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Defense Secretary Leon Panetta warned on Wednesday that any across-the-board cuts to defense spending as part of the next stage of deficit reduction efforts could do "real damage" to national security.

photoWASHINGTON/NEW YORK (Reuters) - The United States has a jobs problem and there's not a lot President Barack Obama or Federal Reserve Chairman Ben Bernanke can do about it.

Obama to head out on "listening" bus tour for jobs
Wed,3 Aug 2011 01:12 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama will take a three-day campaign-style bus tour through the American Midwest this month, as he tries to refocus attention on jobs seen as vital to his chances of winning re-election in 2012.

Strapped states chop jobless aid
Wed,3 Aug 2011 12:50 PM PDT
Reuters -
photoWASHINGTON (Reuters) - U.S. states are making "unprecedented" cuts to unemployment benefit programs, hoping to keep their budgets in line as the country's jobless rate shows no sign of budging, according to a report the National Employment Law Project released on Wednesday.

White House explores options on FAA shutdown
Wed,3 Aug 2011 12:45 PM PDT
Reuters - WASHINGTON (Reuters) - The White House said on Wednesday it was looking at ways to end a partial shutdown of the Federal Aviation Administration that has halted airport construction projects employing thousands of people and extended the summer's political battles. Full Story

Obama says debt ceiling crisis hurt economy
Wed,3 Aug 2011 12:00 PM PDT
Reuters -
photoWASHINGTON (Reuters) - The U.S. debt ceiling crisis had an unnecessary negative impact on the economy, President Barack Obama said on Wednesday, while a congressional impasse over aviation could cost the government $1 billion in lost revenues.

Obama urges Russia to wrap up WTO bid by year end
Wed,3 Aug 2011 10:36 AM PDT
Reuters - WASHINGTON (Reuters) - President Barack Obama on Wednesday urged Russia to resolve issues blocking its entry into the World Trade Organization by the end of the year, the White House said. Full Story

White House looking to increase pressure on Syria
Wed,3 Aug 2011 10:14 AM PDT
Reuters - WASHINGTON (Reuters) - The White House said on Wednesday it exploring ways to increase pressure on the Syrian government to end violence against civilians and placed the blame squarely on Syrian President Bashar al-Assad. Full Story

Obama urges Russia to work with WTO members
Wed,3 Aug 2011 09:38 AM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama on Wednesday urged Russia to work with other World Trade Organization members to conclude talks to join the group by the end of the year.

U.S. says ratings cut wouldn't impact debt strategy
Wed,3 Aug 2011 09:36 AM PDT
Reuters - WASHINGTON (Reuters) - Senior Treasury officials on Wednesday played down chances that their future debt sales strategy will be affected by a possible downgrade of U.S. debt by ratings agencies. Full Story

Still no path to approve trade bills: senator
Wed,3 Aug 2011 08:33 AM PDT
Reuters - WASHINGTON (Reuters) - The White House and Congress have failed to reach a deal to ease the passage of three long-delayed free trade agreements when lawmakers return from recess in September, a top senator said. Full Story

U.S. defense cuts won't be done in "hasty" way: Panetta
Wed,3 Aug 2011 07:48 AM PDT
Reuters - WASHINGTON (Reuters) - Defense Secretary Leon Panetta vowed on Wednesday to ensure that $350 billion in defense cuts included in a spending deal this week are not carried out in a "hasty, ill-conceived way" that would hurt U.S. national security. Full Story

Analysis: Debt debate diminishes everyone
Wed,3 Aug 2011 03:32 AM PDT
Reuters -
photoWASHINGTON (Reuters) - The chaotic and often ugly debt-ceiling talks managed to avert a potential economic catastrophe but inflicted new damage to the political reputations of most of the key players.

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