Dec. 3, 2010 at 5:58 a.m.
Filed under:
Government,
Taxes
By Associated Press
Defying expectations, a bipartisan majority of President Barack Obama’s deficit commission has rallied behind the panel’s controversial deficit-slashing proposals.
A key Obama ally, liberal Democratic Sen. Dick Durbin of Illinois, endorsed the plan Thursday night, joining two of the Senate’s most conservative Republicans. Get the full story »
Dec. 1, 2010 at 2:58 p.m.
Filed under:
Policy,
Politics
By Reuters
The House of Representatives on Wednesday voted to avert a federal government shutdown by extending temporary funding for another two weeks, giving Democrats time to craft a more lasting solution. Get the full story »
Nov. 30, 2010 at 2:10 p.m.
Filed under:
Policy,
Politics,
Taxes
By Reuters
President Barack Obama (C) and Vice President Joe Biden (3R) meet with bipartisan Congressional leadership in the President's Private Dining Room at The White House November 30, 2010. (Pete Souza/White House Photo)
President Barack Obama said on Tuesday he still disagreed with Republicans on whether to extend Bush-era tax cuts for the wealthiest Americans, but the two sides agreed to negotiate a deal in the coming days.
Obama said he appointed Treasury Secretary Tim Geithner and budget director Jack Lew to work with congressional Republicans and Democrats to come up with a compromise to prevent broad tax increases from occurring next year.
“We should work to make sure that taxes will not go up by thousands of dollars on hard-working middle-class Americans come January 1, which would be disastrous for those families but also could be crippling for the economy,” Obama told reporters after a meeting with congressional leaders at the White House. Get the full story »
Nov. 22, 2010 at 12:56 p.m.
Filed under:
Airlines,
Airports
By Associated Press
An airline passenger under goes a full body scan at O'Hare Wednesday. (AP Photo/Charles Rex Arbogast)
With the first U.S. holiday travel rush welling up, the White House said Monday the government will take into account the American public’s concerns and complaints as it evaluates rigid new airline boarding security checks.
President Barack Obama’s spokesman, Robert Gibbs, said the government is “desperately” trying to balance procedures that maximize security and minimize invasiveness. He says the Transportation Security Administration procedures will continue to evolve. Get the full story »
Nov. 18, 2010 at 6:31 a.m.
Filed under:
Autos,
IPOs
By Reuters
General Motors Co. prepared for a dramatic return to the stock market on this morning with what is set to become the world’s largest share offering less than a year and a half after emerging from bankruptcy.
GM shares were set to begin trading on the New York and Toronto stock exchanges, capping the first stage of a turnaround that has taken the 102-year-old automaker from near-death in 2008, via a 2009 bailout, to unlikely Wall Street flotation favorite in 2010. Get the full story »
Nov. 12, 2010 at 6:45 a.m.
Filed under:
Economy,
Government,
Taxes
By Reuters
U.S. President Barack Obama said on Friday he does not want to permanently extend tax cuts for the wealthiest Americans, sending another signal he is willing to forge some sort of compromise with newly emboldened Republicans to win an extension for the middle class.
The White House has been hinting it may be willing to come to some kind of deal on the cuts, which Republicans, heartened by their election successes this month, want to extend for the rich as well as the middle class. Get the full story »
Nov. 11, 2010 at 11:27 a.m.
Filed under:
Economy,
International,
Policy,
Politics,
Trade
By Associated Press
A strong sense of pessimism shrouded the start of an economic summit of rich and emerging economies Thursday, with President Barack Obama and fellow world leaders arriving in Seoul sharply divided over currency and trade policies.
Nov. 11, 2010 at 7:43 a.m.
Filed under:
Bank failures,
Banking,
International,
Trade
By Becky Yerak
Roberto Herencia, the former chief executive of Midwest Banc Holdings Inc., has been nominated to serve on the board of directors of the Overseas Private Investment Corp., the Obama administration announced Wednesday.
The OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas. On its Web site, OPIC says it charges market-based fees for its products and services and therefore operates at no net cost to taxpayers. Get the full story »
Nov. 5, 2010 at 5:36 p.m.
Filed under:
Economy,
Policy,
Politics
By Reuters
Government-controlled mortgage buyer Fannie Mae is asking for $2.5 billion in additional federal aid after posting a narrower loss in the third quarter.
Fannie Mae also said Friday it was likely that the market disarray and suspension of foreclosures due to big lenders’ problems with flawed documents will have a negative impact on the delinquency rates of its loans, its expenses and foreclosure timelines. However, the company said, “we cannot yet predict the extent of its impact.” Get the full story »
Nov. 5, 2010 at 6:48 a.m.
Filed under:
Economy,
Jobs/employment
By Associated Press
President Barack Obama is acknowledging in the wake of this week’s election rout that he hasn’t been able to successfully promote his economic-rescue message to anxious Americans. Obama says in an interview with CBS’s “60 Minutes” that he “stopped paying attention” to the leadership style he displayed during his run for the presidency.
Obama also said he recognizes now that “leadership is not just legislation,” and that “it’s a matter of persuading people. And giving them confidence and bringing them together. And setting a tone. And making an argument that people can understand.” Get the full story »
Nov. 4, 2010 at 8:19 a.m.
Filed under:
Advertising/Marketing
From USA Today | Convenience store chain 7-Eleven has offered to provide the White House with purple Slurpees — mixing red and blue — seizing on an opportunity created when President Barack Obama joked Wednesday that he might hold a “Slurpee Summit” with the new Republican leadership.
“This is a rare opportunity for a brand,” says Margaret Chabris, a spokeswoman for 7-Eleven, which owns 44-year-old Slurpee soft frozen drink. “We don’t want to be opportunistic, but nothing has ever been this big for Slurpee.” Get the full story >>
Nov. 1, 2010 at 3:33 p.m.
Filed under:
Economy,
Policy,
Politics,
Small business
By Reuters
Small U.S. businesses stepped up borrowing in September, data released by PayNet Inc on Monday showed, suggesting the recovery is gaining steam even before the Federal Reserve Bank embarks on an expected new round of monetary stimulus.
The Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to U.S. small businesses, rose 16 percent in September from a year earlier, PayNet said. The index rose 15 percent in August, and is now at the highest level in almost two years. Get the full story »
Oct. 27, 2010 at 11:41 a.m.
Filed under:
Earnings,
Education
By Dow Jones Newswires
DeVry Inc.’s fiscal first-quarter profit jumped 35% as revenue improved, helping results beat expectations, but the company warned of falling enrollment in its undergraduate programs.
DeVry and other for-profit colleges have faced scrutiny from the U.S. Department of Education and members of Congress in recent months as they capture a growing share of federal student aid dollars.
A number of schools are already changing admissions standards and recruiting practices ahead of new regulations expected from the Education Department. DeVry, which offers programs ranging from certificates in dental assisting to MBAs, said that while it is monitoring potential new regulations and may need some adjustments down the line, it is confident about its existing programs. Get the full story »
Oct. 12, 2010 at 9:43 a.m.
Filed under:
Economy,
Policy,
Politics,
Real estate
By Reuters
The White House on Tuesday expressed opposition to a broad moratorium on home foreclosures, warning there could be some unintended consequences for the housing market. Get the full story »
Oct. 11, 2010 at 4:24 p.m.
Filed under:
China,
Economy,
International
By Reuters
President Barack Obama’s administration faces a deadline on Friday on whether to formally declare for the first time that China manipulates its currency, following an election-year vote in Congress to get tough with Beijing. Get the full story »
