BUSINESS News, Jul 26, 2011

Greek debt swap process to start in August: deputy finmin Mon,25 Jul 2011 11:39 PM PDT Reuters - ATHENS (Reuters) - Procedures for a voluntary swap of privately-held Greek government bonds for longer maturity paper will start in August, Greece's deputy finance minister said on Tuesday. Full Story

BP tries to soothe investor ire as profits lag forecast Mon,25 Jul 2011 11:28 PM PDT Reuters - LONDON (Reuters) - BP PLC Chief Executive Bob Dudley tried to soothe investor frustration at the oil major's sluggish share price by promising rapid long-term growth as he gave a weak short-term outlook. Full Story

BP tries to soothe investor ire as profits lag forecast Mon,25 Jul 2011 11:28 PM PDT Reuters - LONDON (Reuters) - BP PLC Chief Executive Bob Dudley tried to soothe investor frustration at the oil major's sluggish share price by promising rapid long-term growth as he gave a weak short-term outlook. Full Story

Asia shares jump, dollar slides on U.S. debt woes Mon,25 Jul 2011 11:18 PM PDT Reuters - HONG KONG (Reuters) - Asian shares rebounded on Tuesday as upbeat earnings lured buyers, but the dollar slid to a record low against the Swiss franc after a speech by U.S. President Barack Obama gave no sign that a deadlock in Washington over raising the debt limit was easing. Full Story

UBS to cut costs as says to miss targets Mon,25 Jul 2011 10:37 PM PDT Reuters - ZURICH (Reuters) - Swiss bank UBS said on Tuesday it would slash costs and admitted it would miss targets set in 2009 after reporting disappointing second quarter profits hurt by sluggish markets and a strong franc. Full Story

Chrysler set to outpace Fiat, merger seen closer Mon,25 Jul 2011 10:16 PM PDT Reuters - MILAN (Reuters) - Strong U.S. sales for Chrysler and growth in Brazilwill help offset a weak European market for Fiat SpA, combined financial results are set to show on Tuesday as the two car makers move closer toward a full merger. Full Story

Lawmakers deadlocked over debt deal as default looms Mon,25 Jul 2011 10:00 PM PDT Reuters - WASHINGTON (Reuters) - The United States edged closer on Tuesday to a devastating default as Republicans and Democrats deadlocked over competing plans to raise the debt ceiling, one week before a deadline to act. Full Story

Voters blame Republicans, Obama on jobs: poll Mon,25 Jul 2011 09:55 PM PDT Reuters - WASHINGTON (Reuters) - More than a third of Americans believe President Barack Obama's policies have made the U.S. economy worse, but they blame Republicans just as much, according to a Washington Post-ABC News poll published on Tuesday. Full Story

TI forecasts modest third quarter Mon,25 Jul 2011 09:36 PM PDT Reuters - NEW YORK (Reuters) - Texas Instruments Inc forecast only modest sequential growth in the current quarter as orders were slower than usual for this time of year due to economic concerns in the United States and Europe. Full Story

Business borrowing jumps in June: ELFA Mon,25 Jul 2011 09:10 PM PDT Reuters - NEW YORK (Reuters) - A measure of business activity improved in June as companies borrowed more to replace equipment, a lender group said on Tuesday. Full Story

Snapshot: Developments in debt talks Mon,25 Jul 2011 07:12 PM PDT Reuters - WASHINGTON (Reuters) - Here is what is happening on Monday as lawmakers try to close in on a deal to raise the $14.3 trillion U.S. debt limit by August 2 and avoid a credit default: Full Story

Fox scores movie rights to ESPN's oral history book Mon,25 Jul 2011 06:50 PM PDT Reuters - LOS ANGELES (TheWrap) - As Keith Olbermann settles into life on a significantly smaller stage, ESPN, the network that made his name, may be heading to the big screen. Full Story

News Corp scandal transforms British power list Mon,25 Jul 2011 05:21 PM PDT Reuters - NEW YORK (TheWrap) - What could bring together the Murdochs and all of their rivals in the British publishing world? Full Story

Rival post-production houses Deluxe, Technicolor team up Mon,25 Jul 2011 05:19 PM PDT Reuters - LOS ANGELES (TheWrap) - Deluxe and Technicolor, historic rivals in Hollywood's post-production business, have announced a new agreement in which each will concede and subcontract a segment of its business to the other. Full Story

Timeline: Congress has a week to write a debt deal Mon,25 Jul 2011 05:09 PM PDT Reuters - (Reuters) - The Congress faces an August 2 deadline for raising the government's $14.3 trillion limit on borrowing and averting a potentially catastrophic default. Full Story

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CELEBRITY Gossip News, Jul 26, 2011

Schwarzenegger says son "much better" after accident Mon,25 Jul 2011 07:46 PM PDT Reuters - LOS ANGELES (Reuters) - Former California Governor Arnold Schwarzenegger said on Monday that his 13-year-old son, Christopher, is improving as he recovers from injuries suffered when he was hit by a large wave at the beach. Full Story

BLOOMBERG News, Jul 26, 2011

Text: Obama address on debt ceiling impasse Mon,25 Jul 2011 06:30 PM PDT Reuters - WASHINGTON (Reuters) - Following is the full text of President Barack Obama's Monday evening address on the debt ceiling impasse in Washington, as prepared for delivery: Full Story

Analysis: The politics behind Boehner's two-step debt hike Mon,25 Jul 2011 04:58 PM PDT Reuters - WASHINGTON (Reuters) - So many Americans are so sick of political acrimony over raising the U.S. debt limit that it might seem unfathomable to have to do it all over again early next year. But that is exactly what the top U.S. Republican, John Boehner, is proposing for some practical political reasons. Full Story

Amid dueling debt plans, Obama to address nation Mon,25 Jul 2011 03:54 PM PDT Reuters - WASHINGTON (Reuters) - Top U.S. lawmakers dueled with diverging debt plans on Monday that offered little compromise and raised the threat of a ratings downgrade and national default as President Barack Obama prepared to address Americans on the impasse. Full Story

Head of U.S. cyber agency resigns suddenly Mon,25 Jul 2011 01:59 PM PDT Reuters - WASHINGTON (Reuters) - The head of a U.S. agency that helps respond to cyber attacks resigned suddenly after several high-profile attacks on government computer systems but the Department of Homeland Security declined Monday to comment on the reason. Full Story

Boehner introduces debt plan, says can pass Senate Mon,25 Jul 2011 01:14 PM PDT Reuters - WASHINGTON (Reuters) - House Speaker John Boehner, the top Republican in Congress, introduced a new plan on Monday to approve an increase in the debt ceiling based on the principles of the "cut, cap and balance" plan that can pass in the Democratic-controlled Senate. Full Story

White House backs Reid debt plan Mon,25 Jul 2011 12:20 PM PDT Reuters - WASHINGTON (Reuters) - The White House on Monday endorsed a deficit reduction plan put forward by Senate Democratic leader Harry Reid, saying it would remove the cloud of a possible default from the U.S. economy through 2012. Full Story

Senate Democrats unveil debt limit plan Mon,25 Jul 2011 11:49 AM PDT Reuters - WASHINGTON (Reuters) - Senate Democrats on Monday offered a $2.7 trillion spending-cut plan that includes large savings from domestic and defense programs to try to break the impasse over raising the government's $14.3 trillion debt limit. Full Story

NJ Governor Christie more like 2016, not 2012, hopeful Mon,25 Jul 2011 11:29 AM PDT Reuters - NEW YORK (Reuters) - New Jersey Governor Chris Christie has said he has no interest in running for president but relentless speculation about his plans could make him a kingmaker in 2012 and position him to run in 2016. Full Story

House Speaker Boehner to hold press conference 4 p.m. Monday Mon,25 Jul 2011 11:04 AM PDT Reuters - WASHINGTON (Reuters) - House of Representatives Speaker John Boehner has scheduled a press conference for 4 p.m. EDT on Monday, his office said. Full Story

House Republicans seek $1 trillion debt limit hike Mon,25 Jul 2011 10:32 AM PDT Reuters - WASHINGTON (Reuters) - Republicans in the House of Representatives will push legislation to cut $1.2 trillion in spending over 10 years and provide a short-term, $1 trillion increase in the government's borrowing limit, a Republican aide said on Monday. Full Story

Debt talks rain on Obama 50th birthday parade Mon,25 Jul 2011 07:25 AM PDT Reuters - WASHINGTON (Reuters) - Rancorous negotiations with congressional Republicans over how best to deal with the U.S. budget deficit may keep President Barack Obama away from his own 50th birthday party in Chicago next month. Full Story

World watches and hopes U.S. will avoid debt "suicide" Mon,25 Jul 2011 03:54 AM PDT Reuters - SINGAPORE (Reuters) - Policymakers worldwide oscillated between hope and confidence on Monday that U.S. lawmakers will break a debt impasse that threatens to trigger a default and up-end global financial markets. Full Story

Analysts view: Lawmakers still divided; debt deadline looms Sun,24 Jul 2011 10:07 PM PDT Reuters - WASHINGTON (Reuters) - A sharply divided Congress pursued rival budget plans on Sunday that appeared unlikely to win broad support, pushing the United States closer to a debt default that would reverberate around the world. Full Story

Pelosi seeks ethics probe of Oregon Democrat Wu Sun,24 Jul 2011 09:49 PM PDT Reuters - WASHINGTON (Reuters) - House of Representatives Democratic leader Nancy Pelosi said she will seek an ethics investigation Monday into sexual misconduct allegations against Representative David Wu. Full Story

Eyeing Iowa, Bachmann hits at Pawlenty on credentials Sun,24 Jul 2011 02:53 PM PDT Reuters - WASHINGTON (Reuters) - Presidential candidate Michele Bachmann hit back at a Republican rival on Sunday, saying her experience with the conservative Tea Party movement made her uniquely qualified to trim down Washington. Full Story

Snapshot: Developments in U.S. debt talks Sun,24 Jul 2011 10:24 AM PDT Reuters - WASHINGTON (Reuters) - Here is what is happening on Sunday as lawmakers try to close in on a deal to raise the $14.3 trillion U.S. debt limit by August 2 and avoid a credit default: Full Story

Daley sees a few stressful days for markets Sun,24 Jul 2011 07:45 AM PDT Reuters - WASHINGTON (Reuters) - White House Chief of Staff Bill Daley said on Sunday there will be a few stressful days ahead for financial markets but that a U.S. debt deal will ultimately be reached. Full Story

Obama cannot raise debt ceiling on his own: Geithner Sun,24 Jul 2011 07:10 AM PDT Reuters - WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Sunday that after careful review it was not an option for President Barack Obama to raise the debt ceiling on his own by invoking constitutional authority. Full Story

House Speaker Boehner: last offer still on table Sun,24 Jul 2011 06:53 AM PDT Reuters - WASHINGTON (Reuters) - Republican House of Representatives Speaker John Boehner said on Sunday that he would prefer to unveil a bipartisan deal to raise the debt ceiling and that his last offer to Democratic President Barack Obama was still on the table.Full Story

Senator Coburn says short-term debt deal likely Sun,24 Jul 2011 06:39 AM PDT Reuters - WASHINGTON (Reuters) - Republican Senator Tom Coburn said he believes a deal will be struck to raise the debt ceiling for a short amount of time and that President Obama will have no choice but to sign the deal. Full Story

Senior North Korean diplomat set to visit U.S.: Clinton Sun,24 Jul 2011 05:39 AM PDT Reuters - SEOUL (Reuters) - A high-ranking North Korean diplomat plans to visit New York later this week for talks with United States officials, U.S. Secretary of State Hillary Clinton said Sunday. Full Story

Insight: Wall Street, companies brace for U.S. default Sun,24 Jul 2011 05:31 AM PDT Reuters - NEW YORK, July 22 (Reuters) - American businesses, from Wall Street banks to major industrial corporations, are preparing contingency plans for a pair of once-unthinkable events: the United States defaulting on its debt and the loss of the nation's top AAA credit rating. Full Story

Obama offers condolences to Norway over deaths Sat,23 Jul 2011 01:17 PM PDT Reuters - WASHINGTON (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. Full Story

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 - WASHINGTON (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. Full Story

White House warns Congress not to play politics with debt Sat,23 Jul 2011 11:16 AM PDT Reuters - WASHINGTON (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. Full Story

Congress working on new debt legislation: McConnell Sat,23 Jul 2011 10:11 AM PDT Reuters - WASHINGTON (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. Full Story

Short-term debt plan not being considered: Pelosi Sat,23 Jul 2011 10:01 AM PDT Reuters - WASHINGTON (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. Full Story

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 - WASHINGTON (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. Full Story

U.S. calls for more clarity on South China Sea claims Fri,22 Jul 2011 10:26 PM PDT Reuters - NUSA 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. Full Story

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 - WASHINGTON (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. Full Story

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 - WASHINGTON (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. Full Story

Jon Huntsman plans more aggressive race Fri,22 Jul 2011 12:13 PM PDT Reuters - WASHINGTON (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. Full Story

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BARACK OBAMA News, Jul 26, 2011

Obama addresses nation on US debt crisis Sky News Australia Mon, 25 Jul 2011 21:14 PM PDT US President Barack Obama has warned that America's debt could cost jobs and do damage to the economy.

Obama Presses for Debt Ceiling Deal Bloomberg Mon, 25 Jul 2011 21:13 PM PDT President Barack Obama warned of a âdeep economic crisisâ without a compromise to avert an Aug. 2 U.S. default as he dueled Republican House Speaker John Boehner in back-to-back speeches on increasing the debt limit.

Obama, Boehner address the nation on debt crisis San Diego 6 Mon, 25 Jul 2011 21:13 PM PDT President Barack Obama says a faction of House Republicans are "playing a dangerous game" with the country.

Obama Asks Public To Pressure Republicans On Debt Ceiling Forbes Mon, 25 Jul 2011 21:13 PM PDT In a nationally broadcast prime time speech Monday night, President Barack Obama appealed to the public to pressure House Republicans into adopting a compromise that would lift the nation?s $14.29 trillion debt ceiling enough to support the country?s borrowing needs through 2012. The six-month extension of the ceiling House Speaker John

Debt Limit Showdown: Obama, Boehner Take Cases to Nation First Coast News Mon, 25 Jul 2011 21:11 PM PDT WASHINGTON - President Barack Obama and House Speaker John Boehner took their cases on debt limit to the nation.

Primary Calendar Stirs Republican Anxiety Pittsburgh Post-Gazette Mon, 25 Jul 2011 21:10 PM PDT WASHINGTON -- Even as the Republican presidential contenders zigzag through Iowa, New Hampshire and South Carolina, an uncertain and potentially unwieldy primary schedule in subsequent states is alarming party leaders, who fear that the voting could start earlier, last longer and complicate efforts to confront President Obama next year.

Republican Leaders Voted for Drivers of U.S. Debt They Now Blame onObama Bloomberg Mon, 25 Jul 2011 21:09 PM PDT House Speaker John Boehner often attacks the spendthrift ways of Washington.

Obama welcomes Giants to White House The Standard-Times Mon, 25 Jul 2011 21:09 PM PDT THE ASSOCIATED PRESS

Obama: Halt '3-ring-circus,' avert US default The Journal News Mon, 25 Jul 2011 21:08 PM PDT WASHINGTON â In unprecedented back-to-back appearances on nationwide television, President Barack Obama and House Speaker John Boehner clashed Monday night over the cause and cure for the nation's debt crisis. The two men spoke as Congress remained gridlocked on legislation to avert a threatened default after Aug. 2.

Obama, Boehner take cases to nation Salem Statesman Journal Mon, 25 Jul 2011 21:07 PM PDT WASHINGTON In unprecedented back-to-back appearances on nationwide television, President Barack Obama and House Speaker John Boehner clashed Monday night over the cause and cure for the nations debt crisis. The two men spoke as Congress remained gridlocked on legislation to avert a threatened default after Aug. 2.

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