Leading bankers and industry groups warned on Wednesday against isolated initiatives by the United States and Britain to regulate banks, saying one set of rules were needed to govern the global banking industry.
Stock index futures pointed to a mixed opening on Wall Street on Wednesday, following declines in Europe and Asia, with some caution expected ahead of the Federal Reserve interest rate decision later in the day.
Global stock markets fell again on Wednesday, hitting their lowest in two months as investors fretted about a monetary squeeze from central banks around the world and also the impact of tightening U.S. banking regulation.
As President Barack Obama goes before Congress and the U.S. public on national television on Wednesday evening for the annual State of the Union address, he faces the challenges of double digit unemployment, a declining approval rating, and some intense criticism over his latest spending freeze proposal
The U.S. Senate on Tuesday moved to clear the way to confirm Ben Bernanke to a second term as Federal Reserve chairman, setting a procedural vote for Thursday in a sign that the needed votes were now secured.
U.S. stocks slipped late on Tuesday due to trepidation over churning political and regulatory developments, offsetting solid earnings and improved consumer confidence data.
President Barack Obama will deliver his first State of the Union speech at 9 p.m. EST/ 6 p.m. PST Wednesday in Washington.
Vice President Joe Biden tried on Tuesday to calm Democrats nervous about a voter backlash over the U.S. economy, predicting job growth soon and insisting the reports of our demise are premature.
The U.S. Senate on Tuesday rejected a proposed bipartisan task force to reduce record budget deficits, but the White House said it was considering creating such a panel itself.
Financial and basic materials stocks closed lower on Tuesday, sending the S&P 500 Index, Nasdaq Composite Index, and Dow Jones Industrial Average into negative territory after posting gains earlier in the day.
U.S. tax authorities will soon demand that corporations reveal much more detailed financial information during audits, the top U.S. tax official said on Tuesday.
The U.S. budget deficit will remain at levels not seen since World War Two, congressional experts said on Tuesday in a report that lays out the stark challenge facing President Barack Obama as he seeks to create jobs and cut spending at the same time.
Afghanistan's neighbours met in Turkey on Tuesday seeking a single voice before a London conference to set a timetable for handing security over to Afghans and find ways to negotiate peace with the Taliban.
President Barack Obama on Monday said Federal Reserve Chairman Ben Bernanke has his strongest support and is doing a good job.
The nonpartisan Congressional Budget Office estimates the U.S. budget deficit for the current fiscal year will come in at $1.3 trillion, down slightly from its previous $1.38 trillion estimate, a source familiar with the matter said on Tuesday.
President Barack Obama, under pressure from deficit hawks, will seek a three-year freeze on domestic spending in his 2011 budget that would save $250 billion by 2020, administration officials said on Monday.
Radical reform is needed to make the banking system safer, Britain's top central banker said on Tuesday, adding U.S. President Barack Obama's plan to curb some activities would not fully solve the too big to fail problem.
Britain needs a safer and more robust banking system, its top central banker said on Tuesday, urging the country to work with President Barack Obama on his plans for a drastic overhaul of the global financial system.
Chinese state media stepped up their war of words with the United States over Internet control on Tuesday, with a top newspaper claiming a U.S. conspiracy and saying China can live without Google.
Asian stocks fell on Tuesday as fears of further clampdowns on lending in China and a U.S. plan to freeze domestic spending sparked worries about the outlook for global growth.
The U.S. Senate looked likely to grudgingly approve Ben Bernanke to a second term as Federal Reserve chairman this week after the White House stepped in to defend his crisis-fighting record and rally votes.
President Barack Obama will deliver his first State of the Union speech at 9 p.m. EST on January 27 to reassure Americans about their jobs and the economy.
