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Business

Big fight ahead over Obama plan to protect consumers from lenders

WASHINGTON: Setting up a certain fight with big business, President Barack Obama is proposing a new regulatory agency to police lenders and protect consumers in credit, savings and other banking transactions.

Business

Obama disappointed with economic progress, wants to speed up stimulus plans

WASHINGTON: President Barack Obama assured the nation his recovery plan was on track Monday, scrambling to calm Americans unnerved by unemployment rates still persistently rising nearly four months after he signed the biggest economic stimulus in history.

Business

Obama presses Congress for deal to end U.S. spending cuts

WASHINGTON: Just hours after across-the-board spending cuts officially took effect, President Barack Obama pressed Congress on Saturday to work with him on a compromise to halt a fiscal crisis he said was starting to "inflict pain" on communities across the United States.

Business

Obama renews offer to cut social safety net in big budget deal

WASHINGTON: President Barack Obama raised anew the issue of cutting entitlements such as Medicare and Social Security as a way out of damaging budget cuts, a White House official said on Sunday, as both sides in Washington tried to limit a fiscal crisis that may soon hit millions of Americans.

Business

Obama says it's clear US economy 'not doing fine'

WASHINGTON: President Barack Obama stressed on Friday the U.S. economy was "not doing fine," seeking to clarify his earlier comments about the health of the private sector that Republicans pounced on to try to paint him as out of touch.

Business

Obama postpones visit due to US shutdown

President Barack Obama has postponed a visit to Malaysia due to the US government shutdown, Prime Minister Najib Razak said on Wednesday.

Business

Obama's trip to Malaysia, Philippines cancelled due to govt shutdown

WASHINGTON: President Barack Obama on Wednesday scrapped part of a long-planned trip to Asia and left the remainder of the trip in doubt as a U.S. government shutdown went into a second day with no end in sight to the funding battle in Congress that triggered it.

Business

Keystone report raises pressure on Obama to approve US$5.4bil oil pipeline

WASHINGTON: Pressure for President Barack Obama to approve the Keystone XL pipeline increased on Friday after a State Department report played down the impact it would have on climate change, irking environmentalists and delighting proponents of the project.

Business

Obama announces actions on renewable energy

MOUNTAIN VIEW, California: President Barack Obama announced steps on Friday to increase the use of solar panels, boost energy efficiency in federal buildings and train more people to work in the renewable energy field.

Business

Obama tries to limit fallout from British EU exit vote

Palo Alto, California: US President Barack Obama on Friday tried to limit the fallout from Britain's vote to leave the European Union, which threatens to harm the US economic recovery, derail his trade agenda and distract US allies from global security issues.