BARACK OBAMA

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IRS Audits 1 in 8 Millionaires, May Demand Extra Taxes

The Internal Revenue Service audited one in eight people who earned $1 million annually, which makes them far likelier to be audited than those making less than $200,000, according to IRS data released on Thursday.

Dollar, stocks up after U.S. jobs data

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Stocks, commodity prices and the dollar moved higher on Friday while safe-haven government bonds fell after better-than-expected U.S. jobs data for December confirmed the recovery in the world's biggest economy is strengthening.
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Cordray says politics won't distract consumer cop

In his first full day as chief of the Consumer Financial Protection Bureau, Richard Cordray sought to lower the political heat around the agency, saying it would earnestly get to work targeting all the bad actors in the lending industry.
U.S. President Barack Obama listens as William Eason speaks during a visit with the Eason family in Cleveland

Cordray Says Politics Won't Distract Him from Job

In his first full day as chief of the Consumer Financial Protection Bureau, Richard Cordray sought to lower the political heat around the agency, saying it would earnestly get to work targeting all the bad actors in the lending industry.
Iranian President Mahmoud Ahmadinejad gestures during his visit to speak in Shahrekord in Chahar Mahal and Bakhtiari province

Iran Wants Nuclear Talks in Turkey

After more than a month of posturing, Iran said it's ready to restart nuclear talks with the European Union, adding that Turkey would be the best place for a dialog.
Richard Cordray

Obama's Recess Appointments Reopen Murky Legal Debate

The president's recess appointment power under the Constitution is not without its ambiguities, and the president's use of this power in light of these ambiguities has given rise to significant political and legal controversy since the beginning of the Republic.
U.S. Republican presidential candidate Mitt Romney

Romney Back in Spotlight, Faces Barrage of Attacks

Mitt Romney's win in the Iowa caucuses has slapped him with a once-familiar tag: frontrunner. It may signal a return to the common stasis of any campaign. Where once intra-party bickering sunk many past frontrunners, the common political mantra of punch up has taken hold in the 2012 campaign. Perhaps the era of surging candidates is over?
Obama speaks from the White House in Washington

Obama Defense Budget Puts More Focus on Asia

President Barack Obama unveiled a defense strategy on Thursday that calls for greater U.S. military presence in Asia and envisions cutting troops in Europe as the Pentagon seeks to reduce spending by nearly half a trillion dollars after a decade of war.
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Cordray: Consumer agency to target shadow banks

In his first speech as head of the Consumer Financial Protection Bureau, Richard Cordray said his agency will immediately begin overseeing lenders outside the banking industry, and will take a tough stance against any financial players that break the law.
Iran Ramps Up Gulf Tension, Global Economies on Alert

Oil Price Hovers Near $103; EU Agrees to Iran Embargo

The price of oil has been rising due to mounting tensions between Iran and the United States and other western countries. On Wednesday the pressure on Iran continued to ratchet up, as European Union governments agreed on to ban imports of Iranian oil.
Military helicopters

Obama Plan will Cut Tens of Thousands of Ground Troops

The Obama administration will unveil a more realistic vision for the military Thursday, with plans to cut tens of thousands of ground troops and invest more in air and sea power at a time of fiscal restraint, officials familiar with the plans said Wednesday.
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Ten Surprises for 2012: Blackstone

Byron Wien, vice chairman at Blackstone Advisory Partners issued his list of surprises for 2012 on Wednesday. The tradition of giving his views on a series of economic, financial market and political surprises for the coming year started in 1986.
Jon Huntsman

Jon Huntsman Hopes to be New Hampshire's Santorum

The former Utah governor Jon Huntsman has put all of his campaign eggs in New Hampshire, hoping for a positive outcome in the state's primary next Tuesday. Despite languishing in the polls, Huntsman has made over 150 appearances in the Granite State, which he hopes will pay off and catapult him into the new Republican of Choice -- with Rick Santorum's success serving as the model.
Iran Ramps Up Gulf Tension, Global Economies on Alert

EU Agrees to Iran Oil Embargo; Joins U.S. Sanctions

The EU governments in the 27-nation bloc agreed on the Iranian oil embargo, but now need to plan a timetable for implementing the move. France has suggested a date for beginning the embargo is set at a scheduled Jan. 30 meeting of the EU foreign ministers.

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