Corrects city where Cisco CEO spoke in paragraph 11
U.S. President Barack Obama on Monday will propose a package of new initiatives aimed at helping middle-class families, including an expanded child-care tax credit and help with retirement savings.
Oil prices steadied below $75 a barrel on Monday, after slipping toward a one-month low on continued market unease over possible tighter Chinese monetary policy and a U.S. proposal to toughen bank trading rules.
Oil prices fell on Monday, approaching one-month lows near $74 a barrel, on continued market unease over possible tighter Chinese monetary policy and a U.S. proposal to toughen bank trading rules.
World stocks added to the previous week's fall on Monday, weighed down by Wall Street losses, uncertainty over U.S. bank plans and concern that Greece's debt crisis could spread.
President Barack Obama's proposals to split traditional banking activities from riskier areas will harm U.S. banks without international co-ordination, a prominent Swiss banker said in Monday's Financial Times.
Asian stocks fell on Monday after Wall Street's worst three-day slide in 10 months, but moved off intra-day lows as a gain in U.S. futures signaled New York markets could recover some of last week's losses.
Asian stocks fell on Monday after Wall Street suffered its worst three-day slide in 10 months, but losses were muted, and high-yielding currencies edged up as some investor appetite for riskier assets surfaced.
Gold prices recovered in Asian trade Monday as the dollar dropped, reviving demand for the precious metal as an alternative asset. Spot gold was seen trading at $1,099.81 an ounce at 12.00 noon Singapore time while February delivery in New York was at $1,099.20 an ounce at the same time. The precious metal, which touched an all-time high of $1,226.56 last month, slumped to a one-month low of $1,081.95 an ounce on Jan. 22.
Myanmar pro-democracy leader Aung San Suu Kyi will be freed when her house arrest ends in November, according to a government minister quoted by witnesses on Monday, but critics said that may be too late for this year's elections.
The yen and the U.S. dollar dipped on Monday while the euro and high-yielding currencies advanced, lifted by reports that Ben Bernanke was moving closer towards being confirmed for a second term as chairman of the Federal Reserve. Markets have been fretting since late last week over whether Bernanke would be approved for the job. [nN24141266]
Embattled Federal Reserve Chairman Ben Bernanke edged closer to winning support for a second term after the Senate's Republican leader predicted confirmation and Democrats aimed to have a vote this week.
White House senior advisers voiced confidence on Sunday that Federal Reserve Chairman Ben Bernanke would be confirmed by the Senate for a second term.
Afghan election authorities have agreed to push back a parliamentary election to September from May, pleasing diplomats who wanted time to prevent a repeat of the rampant fraud that plagued a presidential vote last year.
Russian President Dmitry Medvedev said on Sunday that a deal with the United States on a landmark nuclear arms reduction treaty was 95 percent agreed, news agencies reported on Sunday.
Just a year into his presidency and already in need of a political comeback, Barack Obama is trying to regain momentum by focusing on two hot-button problems: joblessness and reining in the Wall Street bankers many blame for the lackluster economy.
President Barack Obama called senators on Saturday to check that Federal Reserve Chairman Ben Bernanke had enough support for a second term and two key senators said the nomination was on track.
President Barack Obama called on the U.S. Congress on Saturday to create a bipartisan panel that would look at ways to rein in the country's soaring deficits.
Germany will host a meeting of the Group of 20 nations in May to focus efforts on reforming financial regulation in the wake of new U.S. proposals for governing banks, a finance ministry spokesman said.
Haiti mourned its dead on Saturday and hundreds gathered in the ruins of a wrecked Catholic cathedral to honor an archbishop and other victims killed in last week's earthquake as the government ended search-and-rescue operations.
President Barack Obama launched an extraordinary attack on the Supreme Court on Saturday, saying a ruling on corporate donations to political campaigns this week strikes at democracy itself.
The Financial Stability Board , charged by the G20 to coordinate national regulation in response to the financial crisis, on Saturday welcomed U.S. proposals to limit banks' size and trading activities.
