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Business

Middle class decline looms over final years of Obama presidency

DALTON: Barack Obama enters the final two years of his presidency with a blemish on his legacy that looks impossible to erase: the decline of the middle class he has promised to rescue.

Business

Obama tries Reagan touch on economy but wages weigh

WASHINGTON: President Barack Obama, stumping for the Democrats ahead of November's congressional elections, has twice invoked Ronald Reagan's seminal campaign question: "Are you better off than you were four years ago?"

Business

Analysis: Obama toughens tone with China as businesses vent

HONOLULU, Nov 13 (Reuters) The head of Boeing chose his words carefully as he explained to U.S. President Barack Obama the dilemma that Corporate America faces in trying to do business in China.

Business

US needs to work out debt deal in 10 days, says Obama

WASHINGTON: President Barack Obama said Sunday that we need to work out a debt deal within the next 10 days as he convened a meeting with congressional leaders, aiming to fashion a deficit reduction package that would allow the country to avoid first ever default on U.S. debt.

Business

Obama bailout fee to raise up to US$117bil

WASHINGTON: US President Barack Obama on Thursday proposed Wall Street banks pay up to US$117bil to reimburse taxpayers for the financial bailout, as he slammed bankers for their 'massive profits and obscene bonuses.'

Business

Obama pitches bank tax to recover bailout costs

WASHINGTON (AP): President Barack Obama on Saturday pitched his proposed tax on banks to recover the cost of bailing them out during the financial crisis, saying if they can afford billions more in bonuses, they can pay back the taxpayers, too.

Business

Oil stays below US$75 in Asia Monday as regional markets fall

KUALA LUMPUR: Oil prices stayed below $75 a barrel in Asia on Monday, dampened by falls in regional stock markets and on Wall Street over President Barack Obama's plans to restrict big banks.

Business

Obama resets presidency with attention to economy

WASHINGTON: Facing a potentially disastrous U.S. political shift, President Barack Obama tried Thursday to begin resetting his wounded presidency with a one-two-three populist punch.

Business

Obama to seek freeze on part of budget

WASHINGTON: Facing voter anger over mounting budget deficits, President Barack Obama will ask Congress to freeze spending for some domestic programs for three years beginning in 2011, administration officials said Monday.

Business

US US$1tril health overhaul law signed

WASHINGTON: President Barack Obama, claiming a triumph that could define his presidency, signed a massive, nearly $1 trillion health care bill Tuesday that will for the first time cement insurance coverage as the right of every U.S. citizen.