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Jul 18, 2011

BLOOMBERG News, Jul 18, 2011

U.S. debt stalemate invokes language of Armageddon
Sun,17 Jul 2011 10:06 PM PDT
Reuters - WASHINGTON (Reuters) - With time quickly running out to raise the U.S. debt ceiling, the Obama administration is turning to biblical rhetoric to underscore the disastrous consequences if the United States defaults. Full Story

Obama to discuss progress on U.S. financial reform
Sun,17 Jul 2011 03:39 PM PDT
Reuters - WASHINGTON (Reuters) - President Barack Obama will meet on Monday with top U.S. regulators to discuss progress on implementing the legislation he signed a year ago overhauling the country's financial regulatory system. Full Story

Clinton backs Greek strategy on debt crisis
Sun,17 Jul 2011 11:52 AM PDT
Reuters -
photoATHENS (Reuters) - Secretary of State Hillary Clinton on Sunday voiced strong U.S. support for Greece's battle to overcome its debt crisis, saying it was taking the difficult steps required for future growth.

Iowa congressman helps fight off home invasion
Sun,17 Jul 2011 09:33 AM PDT
Reuters - DES MOINES, Iowa (Reuters) - An eight-term congressman from Iowa helped fight off an armed man who invaded his farm house in Decatur County and attacked his daughter on Saturday night, according to a statement from his office. Full Story

White House's Lew sees progress in debt talks
Sun,17 Jul 2011 05:51 AM PDT
Reuters - WASHINGTON (Reuters) - White House budget director Jack Lew told CNN on Sunday "there has been activity and progress" in talks to reach a deal to raise the U.S. debt ceiling. Full Story

Governors urge debt deal to avoid "embarrassment"
Sat,16 Jul 2011 05:16 PM PDT
Reuters - SALT LAKE CITY (Reuters) - State governors meeting in Utah on Saturday urged a speedy resolution to the deadlock in Washington over lifting the U.S. debt ceiling to avoid what they called an embarrassing default on U.S. obligations. Full Story

Wisconsin's Walker concedes mistakes, defends policies
Sat,16 Jul 2011 03:20 PM PDT
Reuters -
photoSALT LAKE CITY (Reuters) - Wisconsin Governor Scott Walker, whose moves to curb state workers' bargaining power brought massive protests, said this weekend he made mistakes but defended the policy steps of his rocky first term.

Governors urge debt deal, discuss jobs
Sat,16 Jul 2011 03:09 PM PDT
Reuters - SALT LAKE CITY (Reuters) - U.S. governors meeting in Salt Lake City this weekend called for a quick resolution to the current impasse over raising the U.S. borrowing limit, saying they worried about impacts to their own credit scores. Full Story

35-year Michigan Congressman Kildee announces retirement
Sat,16 Jul 2011 10:55 AM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama has wished retiring Michigan Representative Dale Kildee well after Kildee announced he would not seek re-election to a 19th term.

Two-thirds of Obama campaign cash from small donors
Sat,16 Jul 2011 10:31 AM PDT
Reuters -
photoCHICAGO/WASHINGTON (Reuters) - Nearly two-thirds of the $86 million cash haul raised by President Barack Obama for his re-election effort in recent months came from small donations of under $200 or less, according to filings released on Friday.

Germany confident on successful U.S. deficit talks
Fri,15 Jul 2011 10:41 PM PDT
Reuters - BERLIN (Reuters) - Germany is confident that agreement will be reached in budget deficit talks in the United States, government spokesman Steffen Seibert said on Friday. Full Story

China calls on U.S. to cancel Dalai Lama meeting
Fri,15 Jul 2011 06:44 PM PDT
Reuters -
photoSHANGHAI (Reuters) - China urged the United States on Saturday to cancel a planned meeting between President Barack Obama and Tibetan spiritual leader the Dalai Lama, saying such a meeting would be harmful to U.S.-China relations.

Obama to nominate consumer agency chief next week: report
Fri,15 Jul 2011 06:05 PM PDT
Reuters -
photoWASHINGTON (Reuters) - The White House plans to nominate a new director to the Consumer Financial Protection Bureau next week but is unlikely to name Elizabeth Warren, who has helped to set it up, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Two-thirds of Obama campaign cash from small donors
Fri,15 Jul 2011 04:53 PM PDT
Reuters -
photoCHICAGO/WASHINGTON (Reuters) - Nearly two-thirds of the $86 million raised by President Barack Obama for his re-election effort in recent months came from small donations of under $200 or less, according to filings released on Friday.

Chicago mayor to lay off workers to plug budget gap
Fri,15 Jul 2011 03:59 PM PDT
Reuters -
photoCHICAGO (Reuters) - With Chicago still facing a lingering deficit in its current budget, Mayor Rahm Emanuel unveiled on Friday a series of steps that will lead to up to 625 layoffs.

Small donations fuel Bachmann campaign fund
Fri,15 Jul 2011 02:52 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Republican presidential hopeful Michele Bachmann's campaign said on Friday it had more than $4.2 million in contributions at the end of the second quarter, much of it from small donors.

Gingrich presidential campaign $1 million in debt
Fri,15 Jul 2011 02:47 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Presidential hopeful Newt Gingrich, whose campaign has been dogged by staff resignations and other woes, is nearly $1 million in debt, a filing with electoral regulators on Friday showed.

Romney skirts debt debate, defends health law again
Fri,15 Jul 2011 02:43 PM PDT
Reuters - BERLIN, New Hampshire (Reuters) - Former Massachusetts Gov. Mitt Romney tried to avoid wading into the debate within the Republican Party about raising the federal debt ceiling as he campaigned in northern New Hampshire on Friday. Full Story

Corporations press Republicans for debt deal
Fri,15 Jul 2011 02:13 PM PDT
Reuters - WASHINGTON (Reuters) - Wall Street, big corporations and business groups are mounting an increasingly frantic lobbying campaign to persuade Republicans to raise the debt limit as fears of a national default grow. Full Story

U.S. official reassures foreign investors over debt default
Fri,15 Jul 2011 01:52 PM PDT
Reuters - WASHINGTON (Reuters) - A top U.S. Treasury official has been privately fielding questions from foreign investors about the debt limit fight in Washington and has been reassuring them that the United States will not default. Full Story

Germany confident on successful U.S. deficit talks
Fri,15 Jul 2011 01:52 PM PDT
Reuters - BERLIN (Reuters) - Germany is confident that agreement will be reached in budget deficit talks in the United States, government spokesman Steffen Seibert said on Friday. Full Story

Analysis: Cantor upstages Boehner in debt talks
Fri,15 Jul 2011 01:19 PM PDT
Reuters -
photoWASHINGTON (Reuters) - John Boehner, the top Republican, is being upstaged in the battle to raise the debt limit by his younger and more partisan deputy in Congress, Eric Cantor, who is widely seen as wanting his job.

Texas first state to enact hydrofracking rules
Fri,15 Jul 2011 12:43 PM PDT
Reuters - HOUSTON (Reuters) - Texas Gov. Rick Perry on Friday signed energy legislation to encourage more natural gas production and require energy companies to disclose chemicals used in hydraulic fracturing, a drilling method that has raised environmental concerns. Full Story

Treasury takes last-ditch measure to stay solvent
Fri,15 Jul 2011 12:33 PM PDT
Reuters - WASHINGTON (Reuters) - The Treasury said on Friday it would take the last step at its disposal to continue borrowing money in capital markets as Congress battles over raising the country's debt ceiling. Full Story

Senate bill would kill stock option tax break
Fri,15 Jul 2011 12:24 PM PDT
Reuters -
photoWASHINGTON (Reuters) - A tax code loophole that gives corporations large deductions on executive stock options would be closed under legislation unveiled on Friday.

Obama urges compromise to ease way for trade deals
Fri,15 Jul 2011 11:49 AM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama on Friday urged Republicans to pave the way for quick approval of trade deals with Colombia, South Korea and Panama by cooperating with the White House to extend a program to help workers who have lost their job because of trade.

U.S. recognizes rebels as Libya's legitimate government
Fri,15 Jul 2011 10:20 AM PDT
Reuters -
photoISTANBUL (Reuters) - The United States Friday recognized Libya's rebel National Transitional Council (TNC) as a legitimate government, a diplomatic boost which could unlock billions of dollars in frozen assets.

House Republicans give Dodd-Frank failing grade
Fri,15 Jul 2011 10:07 AM PDT
Reuters -
photoWASHINGTON (Reuters) - A group of congressional Republicans harshly criticized the Wall Street overhaul law on Friday and gave what they termed a failing report card to the year-old legislation.

Clinton seeks to smooth Islamic defamation row
Fri,15 Jul 2011 09:19 AM PDT
Reuters -
photoISTANBUL (Reuters) - Secretary of State Hillary Clinton agreed with a major global Islamic organization on Friday to pursue new ways of resolving debates over religion without resorting to legal steps against defamation.

Obama rejects $2.4 trillion plan without tax hikes
Fri,15 Jul 2011 08:20 AM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama on Friday said he would not support a $2.4 trillion plan to reduce the federal deficit without some tax hikes to increase revenues.

Obama says time running out for debt ceiling deal
Fri,15 Jul 2011 08:16 AM PDT
Reuters -
photoWASHINGTON (Reuters) - Time is running out to come up with a deal to raise the debt limit, President Barack Obama warned lawmakers on Friday as a August 2 deadline looms.

Obama: deficit deal should have been done early
Fri,15 Jul 2011 08:16 AM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama on Friday that deficit negotiations should have been taken care of early rather than allowed to run this close to the August 2 deadline for raising the debt ceiling.

House Democrats seek large deficit plan
Fri,15 Jul 2011 08:03 AM PDT
Reuters -
photoWASHINGTON (Reuters) - House Democratic Leader Nancy Pelosi said on Friday she hopes talks between President Barack Obama and congressional leaders on raising the $14.3 trillion U.S. debt limit will result in a large deficit reduction plan.

Analysis: Cantor upstaging Boehner in debt talks?
Fri,15 Jul 2011 07:02 AM PDT
Reuters -
photoWASHINGTON (Reuters) - John Boehner, the top U.S. Republican, is being upstaged in the battle to raise the debt limit by his younger and more partisan deputy, Eric Cantor, who is widely seen as wanting his job.

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.

CELEBRITY Gossip News, Jul 18, 2011

Borders bidding deadline passed without offers: report
Sun,17 Jul 2011 07:22 PM PDT
Reuters -
photo(Reuters) - Borders Group Inc inched closer to liquidation on Sunday after a bidding deadline passed without offers, the Wall Street Journal said, citing people familiar with the matter.

Palin film starts soft, but distributor pleased
Sun,17 Jul 2011 05:39 PM PDT
Reuters - LOS ANGELES (TheWrap) - Sarah Palin documentary "The Undefeated" got off to a soft start in a lightly promoted 10-theater box-office debut this weekend, grossing somewhere between $65,000-$75,000, according to estimates confirmed by distributor ARC Entertainment. Full Story

Ivanka Trump, husband welcome new baby girl
Sun,17 Jul 2011 04:35 PM PDT
Reuters -
photoNEW YORK (Reuters) - Ivanka Trump, daughter of Donald and a judge on his TV show "The Apprentice," has taken on another role -- that of mother -- as the former model gave birth on Sunday to a baby girl in New York City.

Christian country singer's coming out told on film
Sun,17 Jul 2011 04:12 PM PDT
Reuters -
photoLOS ANGELES (TheWrap) - For more than a decade, Chely Wright was the perfect country star: pretty, perky and Christian, singing songs about the joys and heartaches of being a "Single White Female," posing seductively in videos and photos, and even forming a dreamy Nashville couple with boyfriend and fellow star Brad Paisley.

"Harry Potter" rings up record $476 million globally
Sun,17 Jul 2011 11:45 AM PDT
Reuters -
photoLOS ANGELES (Reuters) - The final "Harry Potter" film shattered box office records worldwide with a whopping $168.6 million in U.S. and Canadian ticket sales over the opening weekend and nearly $476 million globally.

Lisa Kudrow dishes out some "Web Therapy"
Sun,17 Jul 2011 08:34 AM PDT
Reuters -
photoNEW YORK (Reuters) - Former "Friends" star Lisa Kudrow is back on television this coming Tuesday in Showtime's new series, "Web Therapy," -- the first time a show created for the Internet has moved to a 30-minute comedy on television.

Swiss police arrest 21 at Montreux festival
Sun,17 Jul 2011 05:21 AM PDT
Reuters - ZURICH (Reuters) - Swiss police arrested 21 people during two nights of clashes between drunken revelers and security at Montreux, one of Europe's most prestigious summer jazz festivals, police said on Sunday. Full Story

Justin Timberlake joins Mila Kunis at marine ball
Sat,16 Jul 2011 03:25 PM PDT
Reuters - LOS ANGELES (TheWrap) - Justin Timberlake says he may join "Friends With Benefits" co-star Mila Kunis in attending the Marine Corps Ball in November. Full Story

J.Lo, Anthony fans tweet their feelings over split
Sat,16 Jul 2011 02:55 PM PDT
Reuters -
photoLOS ANGELES (TheWrap) - People on Twitter responded with a range of sadness to eye-rolls upon the news that Jennifer Lopez and Marc Anthony are separating after seven years of marriage.

Jane Fonda jabs at QVC over canceled TV appearance
Sat,16 Jul 2011 02:25 PM PDT
Reuters -
photoLOS ANGELES (Reuters) - A new controversy over Oscar winner Jane Fonda's Vietnam War activism caused the actress to come out swinging against home shopping TV network QVC on Saturday, over what she described as its caving in to "extremist" pressure to cancel her appearance.

"Harry Potter" magic with record $92.1 million
Sat,16 Jul 2011 11:34 AM PDT
Reuters -
photoLOS ANGELES (Reuters) - The eighth and final "Harry Potter" movie sold $92.1 million worth tickets in the United States and Canada on its first day in theaters to set a single-day box-office record, according to studio estimates released on Saturday.

Palin biopic now showing in theater not so near you
Fri,15 Jul 2011 08:12 PM PDT
Reuters -
photoORANGE, California (Reuters) - "The Undefeated," a flattering documentary about Sarah Palin's rise in American politics, opened in a handful of U.S. movie theaters on Friday, drawing die-hard fans of the Tea Party favorite from far away.

Mila Kunis says will attend Marine ball
Fri,15 Jul 2011 05:41 PM PDT
Reuters -
photoLOS ANGELES (TheWrap) - Mila Kunis is definitely going to the Marine Corps Ball with Sgt. Scott Moore in November.

Review: Film captures voices of a generation lost to HIV/AIDS
Fri,15 Jul 2011 05:20 PM PDT
Reuters - LOS ANGELES (TheWrap) - With a title that sums it up so well, "We Were Here" is the story of a community fighting a force that threatened to annihilate it. Full Story

"Breaking Bad:" Questions answered in season premiere
Fri,15 Jul 2011 04:33 PM PDT
Reuters -
photoLOS ANGELES (TheWrap) - "Breaking Bad" doesn't dither around: If you're looking for answers after last season's jittery cliff-hanger, you'll get lots of them Sunday night.

Chemical industry hooked on TV show "Breaking Bad"
Fri,15 Jul 2011 04:05 PM PDT
Reuters -
photoNEW YORK (Reuters) - Watching the success of the television show "Breaking Bad" has been a guilty pleasure for the chemical industry.

Jennifer Lopez, Marc Anthony marriage breaks apart
Fri,15 Jul 2011 03:56 PM PDT
Reuters -
photoNEW YORK (Reuters) - Singer and actress Jennifer Lopez and Latin pop singer Marc Anthony have decided to end their marriage after seven years, the couple said on Friday.

Polish Brothers' latest film: big profit, no budget
Fri,15 Jul 2011 03:51 PM PDT
Reuters - LOS ANGELES (TheWrap) - "For Lovers Only," an intimate romance made in luminous black-and-white by Michael and Mark Polish, is a wildly successful experiment in New Hollywood Math. Full Story

Iranians explore sexuality in "Circumstance"
Fri,15 Jul 2011 03:33 PM PDT
Reuters - LOS ANGELES (TheWrap) - "Circumstance," which was the U.S. Dramatic Centerpiece screening at Los Angeles' Outfest film festival this week, tells of two Iranian teenage girls struggling for personal freedom under the watchful eye of the state and the family. Full Story

TNT cancels Ray Romano series "Men of a Certain Age"
Fri,15 Jul 2011 03:32 PM PDT
Reuters -
photoLOS ANGELES (TheWrap) - "Men of a Certain Age" has been canceled, TNT confirms to TheWrap.

"South Park's" Cheesy Poofs snack coming to Walmart
Fri,15 Jul 2011 03:24 PM PDT
Reuters - NEW YORK (TheWrap) - Comedy Central is celebrating the 15th season of "South Park" in typically outrageous fashion by unleashing 1.5 million bags of Cheesy Poofs on our great nation's retailers. Full Story

Indie horror film premieres on Facebook's FlickLaunch
Fri,15 Jul 2011 03:23 PM PDT
Reuters - LOS ANGELES (TheWrap) - Horror thriller "The Perfect House" will be the inaugural film to premiere on FlickLaunch, the first independent-movie distribution platform built on Facebook. Full Story

AFTRA ratifies 3-1/2 year videogame contract
Fri,15 Jul 2011 03:06 PM PDT
Reuters - LOS ANGELES (TheWrap) - Videogame performers will be paid a streaming fee for their work under the terms of a contract the American Federation of Television and Radio Artists has approved, the union announced Friday. Full Story

Rihanna topples Lady Gaga for Facebook Queen title
Fri,15 Jul 2011 03:05 PM PDT
Reuters -
photoLOS ANGELES (TheWrap) - Sorry, Lady Gaga, but Rihanna has just passed you by. At least on the Facebook charts.

Videogame sales drop 10 percent
Fri,15 Jul 2011 02:09 PM PDT
Reuters - LOS ANGELES (TheWrap) - It's been a bad month for videogames, with total sales down 10 percent year-to-year compared with June 2010, according to a recent report by the NPD Group. Full Story

Matthew Morrison joins "What to Expect" cast
Fri,15 Jul 2011 01:40 PM PDT
Reuters - LOS ANGELES (TheWrap) - "What to Expect When You're Expecting" is getting gleeful. Full Story

Chris Colfer blindsided by "Glee" ouster
Fri,15 Jul 2011 01:40 PM PDT
Reuters - LOS ANGELES (TheWrap) - Ouch; talk about awkward. Full Story

Is Piers Morgan connected to phone-hacking scandal?
Fri,15 Jul 2011 01:39 PM PDT
Reuters - NEW YORK (TheWrap) - Is CNN's Piers Morgan the next to fall in the News Corp. phone-hacking scandal? Full Story

Chemical industry hooked on TV show "Breaking Bad"
Fri,15 Jul 2011 12:20 PM PDT
Reuters -
photoNEW YORK (Reuters) - Watching the success of AMC's "Breaking Bad" has been a guilty pleasure for the chemical industry.

New York Times journalist joins CNBC's "Squawk Box"
Fri,15 Jul 2011 11:54 AM PDT
Reuters - NEW YORK (TheWrap) - Andrew Ross Sorkin is juggling a lot of different hats -- New York Times columnist, author and now morning TV host. Full Story

Colin Hanks gets "Lucky" with killer film, TV show
Fri,15 Jul 2011 11:52 AM PDT
Reuters -
photoLOS ANGELES (Reuters) - Colin Hanks has murder on his mind these days. The 33 year-old actor currently stars on screen in the dark comedy film "Lucky," which debuts in New York and Los Angeles on Friday and expands around the United States in coming weeks.

"Big Brother" wins nightly TV ratings despite drop
Fri,15 Jul 2011 11:51 AM PDT
Reuters - LOS ANGELES (TheWrap) - CBS' "Big Brother" was the top-rated show Thursday night, even with a significant drop from last week's season premiere, according to preliminary numbers. Full Story

"Paris" set to become Woody Allen's top-grossing film
Fri,15 Jul 2011 11:51 AM PDT
Reuters -
photoLOS ANGELES (TheWrap) - It's all over but the official announcement. On Friday, "Midnight in Paris" will become the top-grossing movie of Woody Allen's long career.

Final "Harry Potter" wields big wand at box office
Fri,15 Jul 2011 11:21 AM PDT
Reuters -
photoLOS ANGELES (Reuters) - Harry Potter's final film adventure has bolted to a big start at worldwide box offices, breaking the record for midnight screenings in the U.S. and Canada with $43.5 million and setting the stage for a massive weekend debut.

France's Bruni confirms pregnant, won't reveal gender
Fri,15 Jul 2011 11:03 AM PDT
Reuters -
photoPARIS (Reuters) - France's first lady Carla Bruni spoke openly about her pregnancy for the first time in a newspaper interview published on Friday -- but kept the baby's gender a secret.

Two appear in court over alleged Joss Stone plot
Fri,15 Jul 2011 08:09 AM PDT
Reuters -
photoLONDON (Reuters) - Two men appeared in court on Friday in connection with an alleged plot targeting British soul singer Joss Stone.

UK media groups rush to fill News of the World void
Fri,15 Jul 2011 06:11 AM PDT
Reuters - LONDON (Reuters) - Britain's media groups are rushing to fill the void created by the closure of the best-selling News of the World, the News International Sunday tabloid that shut last week following allegations of phone hacking. Full Story

Son of Pink Floyd guitarist jailed for fees riot
Fri,15 Jul 2011 04:33 AM PDT
Reuters - LONDON (Reuters) - Charlie Gilmour, the son of Pink Floyd guitarist David Gilmour, was jailed for 16 months on Friday for going on a drug-fueled rampage during a student fees protest in London. Full Story

Police close case in murder of Hollywood publicist
Thu,14 Jul 2011 08:58 PM PDT
Reuters - LOS ANGELES (TheWrap) - Publicist Ronni Chasen was murdered with a gun stolen from a police officer, TheWrap has learned. Full Story

Sarah Palin documentary sells out Grapevine, Texas
Thu,14 Jul 2011 06:43 PM PDT
Reuters -
photoLOS ANGELES (TheWrap) - It may not be "Harry Potter," but another film featuring a bespectacled protagonist is racking up strong pre-sales before its national roll-out this weekend.