U.S. President Barack Obama nominated Ben Bernanke to a second term as Federal Reserve chairman on Tuesday, aiming for continuity at a time when the U.S. economy is breaking free from a deep recession.
Obama's Fed Pick; Dealers' Clunkers Reward; Investor's Big Fraud
U.S. stocks advanced on Tuesday as economic data and the reappointment of Federal Reserve chief Ben Bernanke strengthened expectations for a recovery and offset forecasts of federal budget red ink.
The U.S. national debt will nearly double over the next 10 years, government forecasts showed on Tuesday, challenging President Barack Obama's economic and healthcare overhaul agenda.
Mohammad Jawad, one of the youngest detainees to be held at the U.S. detention facility in Guantanamo Bay, Cuba, said on Tuesday after his return home to Afghanistan he had been abused and humiliated during six years in custody.
Oil prices sank 4 percent on Tuesday as dealers rushed to take profits from a rally that had culminated in a 10-month peak earlier in the day.
Oil prices sank 3 percent on Tuesday as dealers rushed to take profits from a rally that had culminated in a 10-month peak earlier in the day.
The White House and the Congressional Budget Office released new estimates on Tuesday of the scope of federal budget deficits and the health of the U.S. economy.
Larger-than-expected improvements in U.S. housing prices and consumer confidence on Tuesday lent new weight to signs the economy is emerging from the longest and deepest recession since the 1930s.
Oil prices sank into negative territory on Tuesday as dealers took profits from a rally earlier in the day to a 10-month high.
An international airport for a future state of Palestine, national institutions and new rail links were listed by the Palestinian prime minister on Tuesday in a government program needing foreign funding.
Prices of U.S. single-family homes rose for the second consecutive month in June, exceeding expectations and adding to evidence that the three-year housing slump is easing, Standard & Poor's reported on Tuesday.
AIDS expert Dr. Helene Gayle, president and chief executive of the charity CARE USA, has been named to chair the Presidential Advisory Council on HIV/AIDS, the U.S. government said on Monday.
Oil prices sank into negative territory Tuesday as dealers took profits from a rally earlier in the day to 10-month highs.
Stocks gained on Tuesday but were off session highs, after strong housing and consumer confidence data and Ben Bernanke's renomination as Federal Reserve chairman cheered investors.
The U.S. national debt will nearly double over the next 10 years as recession crimps government revenue while spending on retirement and medical benefits soars, official forecasts said on Tuesday.
Oil hit $75 for the first time in 10 months on Tuesday, recouping earlier losses in line with equity markets on data that showed U.S. house prices climbed and consumer confidence rose to the strongest since May.
Four U.S. servicemen were killed by a roadside bomb in Afghanistan on Tuesday, making 2009 the deadliest year for the growing contingent of foreign troops since the overthrow of the Taliban in 2001.
Federal Reserve Chairman Ben Bernanke said on Tuesday that he would work to build a solid foundation for growth and prosperity in an environment of price stability, if he was confirmed for a second term.
Ben Bernanke, whose four-year term as the head of the U.S. central bank ends on January 31, will be nominated for a second term, a senior Obama administration official said on Monday.
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The White House and the Congressional Budget Office are expected to release new estimates on Tuesday of the scope of federal budget deficits and the health of the U.S. economy.
