 WASHINGTON (Reuters) - A Republican plan to cut the U.S. deficit faced delay and stiff opposition on Wednesday, piling anxiety onto investors and ordinary Americans hoping for a late compromise to avoid a crippling debt default. |
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 WASHINGTON (Reuters) - The nominee to become the top U.S. military officer warned on Tuesday it would be "extraordinarily difficult and very high risk" to cut $800 billion from defense spending as part of efforts to reduce the nation's $14.3 trillion debt. |
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Two senators tell airlines not to "pocket" tax
Tue,26 Jul 2011 05:32 PM PDT
Reuters - WASHINGTON (Reuters) - Airlines should not "pocket" revenue from a passenger tax that has lapsed during a partial aviation shutdown, two U.S. Senate transportation leaders said in a letter sent to the industry association on Tuesday. Full Story |
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 WASHINGTON (Reuters) - Trade Representative Ron Kirk said on Tuesday he was optimistic a deal could be struck with Republicans clearing the way for Congress to pass free trade pacts with South Korea, Colombia and Panama after lawmakers return in September from a month-long recess. |
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WASHINGTON (Reuters) - U.S. Trade Representative Ron Kirk said on Tuesday he was optimistic a deal could be struck with Republicans clearing the way for Congress to pass free trade pacts with South Korea, Colombia and Panama after lawmakers return in September from a month-long recess. |
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North Carolina lower house overrides abortion bill veto
Tue,26 Jul 2011 04:25 PM PDT
Reuters - RALEIGH, North Carolina (Reuters) - The North Carolina House of Representatives narrowly overrode a veto on Tuesday of a bill requiring women to wait 24 hours before getting an abortion and be presented with a ultrasound of the fetus. Full Story |
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House passes bill to speed up oil sands pipe review
Tue,26 Jul 2011 04:12 PM PDT
Reuters - WASHINGTON (Reuters) - The House of Representatives on Tuesday approved legislation that would set a firm deadline for the Obama administration to decide the fate of a proposed $7 billion pipeline that would transport Canadian oil sands crude to the U.S. Gulf Coast. Full Story |
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Boehner reworks plan after cuts fall short
Tue,26 Jul 2011 04:00 PM PDT
Reuters - WASHINGTON (Reuters) - House Speaker John Boehner is reworking his budget plan after an analysis found that its spending cuts fall short of what he promised, a spokesman said on Tuesday. Full Story |
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Americans answer Obama's call, contact lawmakers
Tue,26 Jul 2011 02:32 PM PDT
Reuters - WASHINGTON (Reuters) - Americans wasted little time on Tuesday answering President Barack Obama's request to make their voice heard on the looming debt crisis, crashing websites with e-mails and flooding the telephone lines of lawmakers in Washington with thousands of calls. Full Story |
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 WASHINGTON (Reuters) - President Barack Obama will not use a clause in the Constitution to bypass Congress and raise the federal government's debt limit on his own, the White House said Tuesday. |
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Alabama's Jefferson County hires bankruptcy lawyers
Tue,26 Jul 2011 10:49 AM PDT
Reuters - BIRMINGHAM, Alabama (Reuters) - Alabama's Jefferson County on Tuesday hired outside bankruptcy lawyers ahead of a critical decision on its debt that could result in what would be the largest municipal bankruptcy in U.S. history. Full Story |
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 WASHINGTON (Reuters) - Former Minnesota Governor Tim Pawlenty, who was on Senator John McCain's short list for vice presidential running mate in 2008, is fighting low poll numbers and his vanilla image to remain in the 2012 Republican U.S. presidential field. |
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 WASHINGTON (Reuters) - The nominee to become the top U.S. military officer warned on Tuesday it would be "extraordinarily difficult and very high risk" to cut $800 billion from defense spending as part of efforts to reduce the nation's $14.3 trillion debt. |
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Debt ceiling wiggle room runs out August 2: White House
Tue,26 Jul 2011 10:00 AM PDT
Reuters - WASHINGTON (Reuters) - The United States has no wiggle room on the debt after next week's default deadline, White House spokesman Jay Carney said on Tuesday, adding he expected a deal to be reached through compromise before then. Full Story |
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Analysis: Debt negotiators eye 2012
Tue,26 Jul 2011 09:48 AM PDT
Reuters - WASHINGTON (Reuters) - U.S. lawmakers bogged down in talks on the debt limit need to reach a deal by an August 2 deadline but the politicians also have one eye another big date: Election Day on November 6, 2012. Full Story |
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 WASHINGTON (Reuters) - House Speaker John Boehner will not have enough Republican votes to pass his budget plan through the House of Representatives without Democratic support, a leader of the chamber's conservatives said on Tuesday. |
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 WASHINGTON (Reuters) - The chief Democratic vote counter in the House of Representatives said on Tuesday that a few members of his party may back a budget plan developed by House Speaker John Boehner. |
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 WASHINGTON (Reuters) - House Speaker John Boehner, the top Republican in Congress, said Tuesday his two-stage deficit reduction plan could pass through the House and the Senate. |
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 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. |
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 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. |
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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 |
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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 |
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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 |
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 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. |
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 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. |
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 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. |
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 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. |
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 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. |
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 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. |
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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 |
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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 |
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 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. |
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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 |
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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 |
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WASHINGTON (Reuters) - Will the sky fall on August 2 if the U.S. Congress fails to raise the debt ceiling?
LONDON (Reuters) - There may be a point at which global investors get indigestion from U.S. money printing.
SAN FRANCISCO (Reuters) - Amazon.com Inc will use its surging revenue to boost growth and drive expansion into areas such as Web content and cloud computing rather than boost its margins.
FRANKFURT (Reuters) - German car and truck maker Daimler's second quarter revenues fell short of expectations, indicating that demand for cars in emerging markets may be starting to cool.
WASHINGTON (Reuters) - Elizabeth Warren, the law professor who persuaded the Obama administration to create the Consumer Financial Protection Bureau, will step down on August 1 from her role setting up the controversial new regulator, the Treasury said on Tuesday.
OSLO (Reuters) - A Norwegian cabinet minister will make a symbolic return on Wednesday to her bomb-damaged office as the nation tries to restore some normality after the massacre by a right-winger whose lawyer believes is insane.
WASHINGTON (Reuters) - Prices for new single family homes rose to a five-month high in June even as sales slipped, but recovery for the broader housing market continues to be frustrated by an oversupply of properties.
TOKYO (Reuters) - Japan's Fukushima Daiichi nuclear plant ranked as one of the most dangerous in the world for radiation exposure years before it was destroyed by the meltdowns and explosions that followed the March 11 earthquake.
NEW YORK (Reuters) - The court date in the attempted rape case of former IMF boss Dominique Strauss-Kahn has been postponed to August 23, his lawyers said on Tuesday, adding they hope charges will be dismissed by that date.
WASHINGTON (Reuters) - A glimmer of hope emerged on Tuesday for a compromise to break the deadlock over the U.S. debt limit as corporate America and the public betrayed growing nervousness over the risks of a credit downgrade and default.
WASHINGTON (Reuters) - Americans overwhelmingly are concerned about the U.S. debt crisis and a majority backs the type of compromise pushed by President Barack Obama, a Reuters/Ipsos poll found on Tuesday.
WASHINGTON (Reuters) - Will the sky fall on August 2 if the U.S. Congress fails to raise the debt ceiling?
DEARBORN, Michigan (Reuters) - Ford Motor Co's profit held up well in a second quarter marked by the impact of Japan's earthquake, the shaky U.S. economy and high commodity costs, but the automaker remained cautious about consumer demand going forward.
WASHINGTON/LONDON (Reuters) - The United States will lose its top-notch AAA credit rating from at least one major rating agency, according to a Reuters poll that also found wrangling over the debt ceiling has already damaged the economy.
NEW YORK (Reuters) - IMF chief Christine Lagarde on Tuesday urged the United States to quickly resolve a political stalemate over raising the debt ceiling, warning that failure to reach an agreement would have serious consequences for the world economy.
MADRID/ROME (Reuters) - Spain and Italy paid a high price to sell short-term debt on Tuesday, compounding investors' concern that last week's bailout package for Greece left the euro zone's debt crisis unresolved.
PORTLAND, Ore (Reuters) - Oregon Democratic Congressman David Wu, accused of an unwanted sexual encounter with a campaign donor's teenage daughter, said on Tuesday he will resign his seat to defend himself against "these very serious allegations."
BOSTON (Reuters) - Billionaire investor George Soros, whose stock-picking career has spanned nearly four decades, said he will manage money only for himself and his family as new regulations threaten to crimp the hedge fund industry he made famous.
ATHENS (Reuters) - Greece wants a voluntary swap of government bonds for longer maturity paper to start in August and be completed fast to emerge rapidly from an expected default rating, its deputy finance minister said on Tuesday.
NEW YORK (Reuters) - First she was portrayed as a model of virtue who was violated by a rich and powerful man.
LONDON (Reuters) - News Corp's major shareholder Prince Alwaleed bin Tala has rebuffed calls to change the company's dual-class structure or leadership, the Financial Times reported in its Tuesday edition.
WASHINGTON (Reuters) - New single-family home sales unexpectedly fell in June, but a sharp rise in prices and declining supply suggested the market for new houses was starting to stabilize, a government report showed on Tuesday.
ZURICH (Reuters) - Credit Suisse will likely announce cost savings measures including a cut of 1,500-2,000 jobs, a Swiss paper reported on Tuesday, without naming any sources.
NEW YORK (Reuters) - The National Football League (NFL) and its players ended their months-long row over how to carve up their financial empire Monday by agreeing to a multi-billion dollar, 10-year deal.
MILAN (Reuters) - Concern over Fiat SpA's ballooning debt dragged its stock lower on Tuesday as the Italian carmaker moved a step closer toward a full merger with Chrysler Group LLC by outlining plans for a single management team.
NEW YORK (Reuters) - The National Football League (NFL) and its players ended their months-long row over how to carve up their financial empire Monday by agreeing to a multi-billion dollar, 10-year deal.
OSLO (Reuters) - Anders Behring Breivik, who killed at least 93 people in a bomb attack and shooting rampage in Norway, arrived at an Oslo courtroom for a closed custody hearing on Monday to jeers from an angry crowd.
BOSTON (Reuters) - A senior Federal Reserve official is prescribing sweeping medicine to stabilize the $2.5 trillion money market mutual fund industry, which would be rattled by potential downgrades of the government securities that are among its key holdings.