Analysis: Obama has tenuous grip on Democrats over taxes

2010-09-09T14:15:18Z

WASHINGTON (Reuters) - Democrats in Congress are distancing themselves from President Barack Obama's push to let taxes rise for the wealthiest Americans, fearing it will further harm them in November's mid-term elections. Obama stood firm on his stance in a...

Obama firm against tax cuts for rich

2010-09-09T11:15:21Z

WASHINGTON (Reuters) - President Barack Obama stood firm on Thursday in opposition to a Republican push to extend Bush-era tax cuts for the rich but stopped short of threatening to veto such a measure if passed by Congress. "There are a whole bunch of better ways to spend the money," Obama said in an

British watchdog fines Goldman Sachs £17.5 mln

2010-09-09T02:15:27Z

Britain's financial watchdog said on Thursday it had fined Wall Street bank Goldman Sachs 17.5 million pounds (27 million dollars) for not providing it with information linked to US fraud charges. The Financial Services Authority sa...

Goldman Sachs fined £17.5 mln by FSA

2010-09-09T02:15:21Z

Obama won't yield on tax hike for wealthiest

2010-09-08T15:52:11Z

Combative Obama insists on ending Bush-era tax cuts for nation's wealthiest; would keep others

Politically weakened but refusing to bend, President Barack Obama insisted Wednesday that Bush-era tax cuts be cut off for the wealthiest Americans, joining battle with Republicans - and some fellow Democrats - just two months before bruising midterm elections. Singling out Obama takes on Boehner, House speaker in waiting, on Republican's home turf

President Barack Obama has leveled an unusually direct attack against House Minority Leader John Boehner in the Republican's home state of Ohio. Mindful of midterm election polls showing the GOP could win the House and elevate B...

EU stress tests body defends process

2010-09-08T10:00:21Z

EU stress tests body defends itself against charges it understated government debt exposure

The little-known body that organized this summer's stress tests into 91 EU banks defended itself Wednesday against charges that its assessment was not rigorous enough, particularly with regard to the banks' exposure to potentially-risky government debt. In a statement, the A look at potential increases if Congress lets Bush administration tax cuts expire

The most sweeping tax cuts in a generation are due to expire at the end of the year. Congress is set to take up the issue this month. If Congress does nothing, families at every income level face tax increases next year.

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2011 Income
Number of tax returns Average tax increase

Less t...

Obama to pitch trio of economic proposals in Ohio

2010-09-08T03:10:12Z

Obama to pitch trio of economic proposals, draw contrast with Republicans' agenda

Seeking to give anxious Democrats a boost ahead of the November elections, President Barack Obama is pitching a trio of economic initiatives Wednesday and voicing unwavering opposition to Bush-era tax breaks for the wealthy, an issue on which he's looking to draw a stark contrast with Republicans.

ÔSometimes he's too blunt'

2010-09-08T02:10:26Z

Assemblyman's suggestion of a groceries tax may cost him his GOP leadership post

Eureka
Pete Goicoechea might be among the most powerful men in Nevada in a few months, holding in his hands the fate of state government, classrooms, welfare and taxes.
Right now though, the leader of the Assembly Republicans is sittin...

EU official calls for regular bank 'stress tests'

2010-09-08T01:20:27Z

The European Union's financial services chief called on Wednesday for so-called "stress tests" on banks to be carried out on a regular basis, to judge their resilience in the event of another crisis. "I am completely of the opinion that in future, we need to conduct stress tests regularly," Commissioner Michel Barnier told the German business daily Handelsb...

Summary Box: New warrant auctions announced

2010-09-07T14:50:11Z

Summary Box: Treasury announces it will sell warrants for 2 insurance firms

WARRANTS: Treasury announced Tuesday it will auction warrants it received from insurance giants The Hartford Financial Services Group Inc. and Lincoln National Corp.

Obama's tax-break plan is seen as no quick cure

2010-09-07T14:21:46Z

Obama's tax-break plan for businesses isn't likely to quickly boost hiring or the economy

Even if they were enacted soon, President Barack Obama's proposed tax breaks for businesses would hardly be a quick fix to rejuvenate hiring or the economy, analysts say. And what little benefit they might provide wouldn't likely emerge until next year at the earliest. Until businesses feel more confident ab...

Lincoln National, Hartford fall on warrant auction

2010-09-07T13:00:14Z

Lincoln National, Hartford Financial Services shares down after US announces warrant auction

Shares of Lincoln National Corp. and Hartford Financial Services Group Inc. fell Tuesday, after the U.S. governme...

Ex-budget chief differs with Obama on U.S. tax cuts

2010-09-07T11:40:14Z

WASHINGTON (Reuters) - Tax cuts should be extended for all Americans to help spur the economy, but even the middle-class cuts should end in two years, former U.S. budget director Peter Orszag said on Tuesday. Orszag's views differed from those of his former boss, President...

Congress Republicans wary of Obama economy plan

2010-09-07T10:21:33Z

WASHINGTON (Reuters) - Republicans in Congress showed little willingness to help President Barack Obama approve $350 billion worth of measures to boost the economy with midterm elections less than two months away. Obama's plans for billions of dollars in tax breaks for businesses are policies that Republicans typically embrace, b...

SEC sees surge in fraud tip-offs: report

2010-09-07T02:40:07Z

(Reuters) - The U.S. Securities and Exchange Commission (SEC) has seen a surge in tip-offs concerning alleged corporate fraud as the Financial Reforms Act offers millions of dollars in bounty payments to whistleblowers, the Reuters) - President Barack Obama will propose on Wednesday that businesses be allowed to write off all their new investments in plant and equipment through 2011, an administration official said on Monday. The plan, aimed at jump-starting job growth, would cut business taxes by some $200 billion over two years, the of...

As Democrats fear rout, Obama launches new jobs push

2010-09-06T15:20:17Z

US President Barack Obama Monday promised more than 50 billion dollars to create jobs rebuilding roads, railways and airports, targeting huge unemployment and ripping resurgent Republicans. Obama, under intense pressure due to the sputtering economy ahead of November's mid-term congressional elections, announced the new funding spree at a FRANKFURT (Reuters) - Global banks will be required to hold Tier 1 capital of nine percent including a 3 percent so-called "conservation buffer," German weekly Die Zeit reported, quoting a draft proposal from the Basel Committee, the body tasked with drawing up global banking rules. Die Zeit's ...

German banks may need $141 billion under Basel III

2010-09-06T09:40:06Z

FRANKFURT (Reuters) - Germany's 10 biggest banks may need 105 billion euros ($141 billion) of additional capital under a revamp of banking rules designed to prevent future financial crises, the country's banking association said. International banking regulators known as the

Obama to propose huge infrastructure plan

2010-09-06T06:20:17Z

US President Barack Obama unveils plans Monday to spend at least 50 billion dollars to expand and renew US roads, railways and airports, in a fresh bid to fire up sluggish economic growth. Obama, under intense pressure over November's mid-term congressional elections in which his Democrats fear heavy losses, was set to make the announcement in a speech in Wisconsin, an official sai...

Labor secretary: Obama doing good job on economy

2010-09-06T04:40:06Z

Labor secretary says Obama doing good job on economy focusing on jobless

Labor Secretary Hilda Solis is defending President Barack Obama's efforts to combat the recession and unemployment, saying his focus has been on helping the jobless and underemployed. In a US President Barack Obama will travel to the Midwestern US state of Wisconsin Monday as part of a broad effort to stem ebbing political support over the slowing economic recovery. The president will deliver remarks on the economy at the Milwaukee Laborfest, a labor union gathering, one of many held around the country as Officials: Obama to call for more spending on roads, railways, airports to stimulate economy

Vowing to find new ways to stimulate the sputtering economy, President Barack Obama will call for long-term investments in the nation's roads, railways and airports that would cost at least $50 billion, administration officials said. The infrastructure investments are one part of a package of targeted pro...

Obama to propose 100 billion tax credit

2010-09-05T22:20:20Z

President Barack Obama will call for a 100-billion-dollar business tax credit this week to boost the sagging US economic recovery, The Washington Post reported. Obama will use a speech in Cleveland on Wednesday to launch what administration officia...

Oil slips to near $74 as US jobless rate rises

2010-09-05T21:10:12Z

Oil slips to near $74 a barrel in Asia as high US unemployment bodes ill for crude demand

Oil prices slipped to near $74 a barrel Monday in Asia as a stubbornly high U.S. unemployment rate undermined confidence in stronger demand for fuel. Benchmark oil for October delivery was down 35 cents at $74.25 a barrel at midday

Expiring tax cuts pose dilemma for US lawmakers

2010-09-05T09:20:09Z

US lawmakers returning from summer recess face a conundrum on tax cuts set to expire at the end of this year, with the economy seemingly sputtering ahead of looming congressional elections. A fierce battle over taxes is likely with President Barack Obama's administration pressing for a limited extension of tax breaks for the middle class and Republicans hoping to extend the full range of cuts enacted under ...

Obama says his economic policies halted "bleeding"

2010-09-04T11:50:04Z

WASHINGTON (Reuters) - President Barack Obama, previewing a big push on the U.S. economy next week, on Saturday defended policies that he said "have stopped the bleeding" and put the middle class on the road to recovery. Obama, struggling to bring down the 9.6 percent jobless rate, is to spend next week talking up pr...

EU decision on support for banks due November: commissioner

2010-09-04T10:20:16Z

Brussels will say in November if it is to extend support for troubled European banks, but will move more quickly on the troubled Anglo Irish Bank, the EU's competition commissioner said Saturday. "We are now starting the analysis on what to do beyond the 31st of...

Former President Clinton campaigns for NY Democrat

2010-09-03T14:31:04Z

Former President Clinton campaigns for New York Democrat, chides GOP for economic "mess"

Former President Bill Clinton slammed Republicans Friday for their stewardship of the economy during their years in power in Washington, and said the party's campaign message heading into the 2010 midterm elections is: "Put us in becaus...

Obama planning new package of economic aid

2010-09-03T13:51:52Z

Obama preparing to roll out new package of tax cuts, aid to boost economy

Eager to jumpstart the economy ahead of crucial midterm elections, President Barack Obama said Friday he intends to unveil a new package of proposals, likely including tax cuts and targeted spending, to spark job growth. Obama spoke in the Rose Garden after the August jobs report came out better than expected, showing the p...

Analysis: Dems out of jobs options before election

2010-09-03T13:41:47Z

Analysis: Time has run out for Obama, Democrats on economy, unemployment before November vote

"It's still the economy, stupid." And there's virtually nothing Democrats can do to change that reality before Nov. 2. Time has all but run out for President Barack Obama and his party, which had hoped for a big economic turnaround...

White House: August jobs report reassuring

2010-09-03T07:21:08Z

WASHINGTON (Reuters) - The White House on Friday greeted a better than expected August employment report as reassuring news after a recent spate of "unsettling" economic data, and reiterated it was working with Congress to take additional steps to boost U.S. growth and hiring. "Against the backdrop of some unsettling econom...

OBAMA TAXES

2010-09-08T15:32:49Z

Graphic shows share of tax increase by income level and plan key provisions in White House tax proposal

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TAX BREAKS

2010-09-08T15:23:37Z

Graphic shows key provisions in White House tax proposal

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Belgium Europe Financial Crisis

2010-09-08T06:40:39Z

German Finance Minister Wolfgang Schaeuble speaks with the media after a meeting of EU finance ministers at the EU Council building in Brussels on Tuesday, Sept. 7, 2010. European finance ministers met Tuesday to discuss taxes on banks. (AP Photo/Virginia Mayo)

Massachusetts Congress Frank

2010-09-06T10:10:36Z

FILE - In this Monday, April 6, 2009 file photo, U.S. Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, addresses an audience at the John F. Kennedy School of Government, on the campus of

Election Overview

2010-09-04T22:10:31Z

FILE - In this April 20, 2010 file photo, Rep. Mary Jo Kilroy, D-Ohio takes part in a House Financial Services Committee hearing on Capitol Hill in Washington. Frustrated, discouraged and just plain mad, a ...

Economic Policy