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Business warns regulation may crimp recovery

Global business leaders warned Western governments Wednesday that a populist crackdown on the financial industry could crimp a fragile recovery from the worst recession since the 1930s.

Stocks edge down ahead of uncertainty: Geithner, FOMC, Obama

The Dow Jones Industrial Average is down 0.35 percent, the S&P 500 Index has fallen 0.27 percent, and the Nasdaq Composite Index slipped by 0.17 percent at 10:54 a.m. in New York as investors wait for answers from Washington.

Obama to focus on jobs, deficit in State of the Union

After his worst political setback since he took office a year ago, President Barack Obama will vow to revive job growth and tame skyrocketing budget deficits in a crucial State of the Union speech on Wednesday.

Stock futures higher ahead of Fed, but earnings weigh

U.S. stock index futures were little changed on Wednesday as investors awaited the outcome of a two-day Federal Reserve policy meeting, though earnings results from Boeing Co and Caterpillar Inc limited gains.

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Obama to address nation amid tough challenges, criticism

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

Senate to take up Bernanke nomination Thursday

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.

Market slips as caution offsets earnings

U.S. stocks slipped late on Tuesday due to trepidation over churning political and regulatory developments, offsetting solid earnings and improved consumer confidence data.

Watch Obama's State of the Union speech live

President Barack Obama will deliver his first State of the Union speech at 9 p.m. EST/ 6 p.m. PST Wednesday in Washington.

Biden seeks to calm nervous Democrats

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.

Senate defeats proposed deficit panel

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.

Stocks fall as financials offset earlier gains by retailers

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.

Corporate tax audits to get more detailed: IRS

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.

Deficit report highlights Obama's challenge

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.

Afghan allies seek common ground

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.

Obama: Bernanke the best person for the job

President Barack Obama on Monday said Federal Reserve Chairman Ben Bernanke has his strongest support and is doing a good job.

CBO projects 2010 deficit at $1.3 trillion

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.

Obama to seek three-year freeze on domestic spending

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.

BoE's King calls for radical reform of banks

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.

BoE urges cooperation with Obama on bank reform

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 media scorn U.S. over Google dispute

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 fall as China, U.S. measures weigh

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.

Bernanke support grows; key senator sees approval

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.

Obama's 2010 State of the Union speech to focus on jobs

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.

Obama to address voter fears in State of Union

President Barack Obama, concerned by voter anxiety over high unemployment, will use his State of the Union speech on Wednesday to reassure Americans worried about jobs and the economy, aides said.

Bernanke support trickles in; vote seen by week's end

Helping the 'sandwich' generation: A key theme for State of the Union Address

Easing the burden of people in the “sandwich” generation who must care for both their children and aging parents amid a struggling economy will be a key theme for President Barack Obama in his State of the Union address on Wednesday.