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Business

US still in fiscal deadlock, but there are glimmers of hope

A few faint glimmers of hope surfaced on Monday in the US fiscal standoff, both in Congress and at the White House, with President Barack Obama saying he would accept a short-term increase in the nation's borrowing authority to avoid a default.

Business

U.S. still in fiscal deadlock, but glimmers of hope emerge

WASHINGTON: A few faint glimmers of hope surfaced on Monday in the U.S. fiscal standoff, both in Congress and at the White House, with President Barack Obama saying he would accept a short-term increase in the nation's borrowing authority to avoid a default.

Business

US judge strikes down Obama health care overhaul

PENSACOLA, Florida: A federal judge ruled Monday that President Barack Obama's sweeping health care overhaul is unconstitutional, the latest in a series of contradictory rulings that will likely need to be resolved by the Supreme Court.

Business

Obama's terrible, horrible, no good, very bad year

WASHINGTON: President Barack Obama's terrible, horrible, no good, very bad year got off to a terrible, horrible, no good, very bad start.

Business

Hopes run high as Obama takes office

Barack Obama took over as US President yesterday with hopes riding high that he can conjure up a rescue that will jolt the world's biggest economy back to life and contain the financial crisis ravaging global markets.

Business

Democrats muscle huge stimulus through US Congress

In a major victory for President Barack Obama, Democrats muscled a huge, US$787 billion stimulus bill through Congress late Friday night in hopes of combating the worst economic crisis since the Great Depression.

Business

Democrats defend Obama economic record at convention

CHARLOTTE, North Carolina: Democrats defended President Barack Obama's handling of the struggling U.S. economy on Tuesday and urged voters to give him four more years as they opened their national convention with sharp criticism of Republican Mitt Romney.

Business

Deadlocked Congress brings US Govt to edge of shutdown

WASHINGTON: The U.S. Congress, still in partisan deadlock on Monday over Republican efforts to halt President Barack Obama's healthcare reforms, was on the verge of shutting down most of the U.S. government starting on Tuesday morning.

Business

Obama offers $3.6 trillion deficit plan, would up taxes

WASHINGTON (Reuters) - President Barack Obama laid out a $3.6 trillion (2.29 trillion pounds) plan on Monday to cut U.S. budget deficits partly by raising taxes on the rich, but Republicans rejected it as a political stunt and made clear the proposal had little chance of becoming law.

Business

Analysis: Obama pivots to new string of problems

WASHINGTON: President Barack Obama dodged a debt-ceiling fiasco Tuesday. He reacted with a wiped brow more than a victory lap, and with good reason.