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A banner wishes U.S. President Barack Obama happy birthday in Chicago

Obama turns 50th birthday into campaign fundraiser

President Barack Obama turned his 50th birthday into a 2012 campaign fundraising bonanza on Wednesday, buoyed by a hometown crowd after what he called a frustrating period locked in a debt battle with Republicans.
At Issue: FAA Budget

Another U.S. Debt Deal Casualty: Congress Triggers Partial FAA Shutdown

The U.S. Debt Deal crisis has claimed another casualty: the U.S. air transportation system -- Congress has left town without funding a key Federal Aviation Administration budget: as a result, 70,000 construction and related workers have been idled, and 4,000 furloughed, work on projects valued at $11 billion has been delayed.
Apple retail store in upper west side, New York City

Apple Aggressive in Defending Own IP: Analyst

Apple Inc. is being aggressive defending its own IP with well publicized suits against Samsung and HTC, Barclays Capital said. Key companies in the wireless arena including Apple and Google continue to acquire and invest in IP to cement their positions.
Oreos Label

Kraft Split: One Gets Cookies, Another Gets Hot Dogs

In a surprising move on Thursday, Kraft Foods decided to split its company into two different sections: one focusing on candy and one focusing on grocery foods. IBTimes takes a look at where Kraft's most famous brands will be headed.
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Cutting Emissions of Non CO2 Greenhouse Gases Could Slow Down Climate Changes

Carbon dioxide and other air pollution that is collecting in the atmosphere like a thickening blanket, trapping the sun's heat and causing the planet to warm up. Over the past 50 years the average global temperature has increased at the fastest rate in recorded history and experts think the trend is accelerating.
Transportation Secretary Ray LaHood

President Obama, LaHood Urge Lawmakers To Rethink FAA Extension

President Obama urged Congress on Wednesday to end the 12 day long FAA shutdown, as they recessed for the summer. The President remarked that members need not even return to town to resolve the dispute, and that it could be done through a procedural agreement when the debate resumes in September. He stated, "This is a lose, lose, lose situation that can be easily solved...."
New York City Mayor Mike Bloomberg

New York City's Bloomberg to Use Own Money to Aid Minority Youth

New York City Mayor Mike Bloomberg is not waiting for Congress to address long-standing social concerns: he's donating $30 million of his money to launch a new $127 million program to improve the lives of thousands of young black and Latino men, who are cut off from New York City's civic, educational, and economic life.
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Insight: CEOs warned: mind the pay gap

A stuttering economy and anemic profit growth means company bosses' pay is unlikely to rise as fast this year as in 2010, but complaints from politicians and disgruntled shareholders over executive rewards are not going away.
A GM sign is seen outside the Medved General Motors car dealership in Arvada, Colorado

GM Profit Nearly Doubles on Stronger Pricing

General Motors Co.'s quarterly profit nearly doubled, beating expectations, as the top U.S. automaker took a larger share of sales globally and raised prices on its vehicles.
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Stock futures point to drop ahead of jobless data

Wall Street equity futures fell on Thursday, indicating the market may resume its downturn after snapping a seven-day losing streak ahead of a report on the labor market that will give clues on economic health.

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