BARACK OBAMA

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Treasury weighs new mortgage subsidies-sources

The Treasury Department is considering giving banks and investors billions of dollars in fresh incentives to modify troubled mortgages and save homeowners from foreclosure, sources familiar with official deliberations said.

Teenager pirates face court hearing in NYC

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A teenager Somali pirate arrived to face court hearing Tuesday in New York what are believed to be the first piracy charges in the United States in more than a century.
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Obama: Mideast players must step back from abyss

President Barack Obama on Tuesday urged Israel and the Palestinians to step back from the abyss, saying he expected good faith gestures from both sides in coming months as part of a bid to revive stalled peace efforts.
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NY Times dominates 2009 Pulitzer Prize contest

The New York Times dominated the Pulitzer Prizes announced on Monday, winning five of the coveted awards for investigative, breaking news and international reporting, feature photography and criticism.
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Hopes dampened between U.S.-Cuba relations

U.S. President Barak Obama, speaking at the close of the Summit of the Americas on Sunday said the relations between U.S. and Cuba need to be backed up by action not simply words.
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Obama seeks agency spending cut by $100M

President Obama convenes his first formal Cabinet meeting Monday and asked department and agency chiefs to find way to cut $100 million out of the federal budget over the next 90 days, a senior administration official said.
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U.S. calls Iranian speech vile

A speech by Iranian President Mahmoud Ahmadinejad calling Israel a racist state was vile and fed racial hatred but did not preclude U.S.-Iranian diplomatic contacts, the United States said on Monday.
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Obama cool meets Chavez mania at Americas summit

If President Barack Obama needed a reminder that times have changed in the Americas, his fellow presidents gave him one when Air Force One touched down in Trinidad and Tobago for a regional summit.
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IAEA urges sticking to talks with North Korea, Iran

U.N. nuclear watchdog chief Mohamed ElBaradei said on Monday more talk and deeper trust were needed to defuse nuclear disputes with North Korea and Iran, and urged Washington to stick to dialogue with both states.
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Zawahri tells Muslims not to be fooled by Obama

Al Qaeda's second-in-command told Muslims not to be fooled by U.S. President Barack Obama's policies which, he said on an Islamist website on Monday, are no different to those of his predecessor, George W. Bush.
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Fidel Castro say U.S. embargo against Cuba must go

Former Cuban leader Fidel Castro said on Sunday the U.S. trade embargo against Cuba must go, but he was mum on his brother Raul Castro's recent offer to talk with Washington about everything, including political prisoners and human rights.
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Obama to take aim at credit card abuses

President Barack Obama plans to crack down on deceptive credit-card industry practices that have saddled U.S. consumers with huge debts and soaring interest rates, U.S. officials said on Sunday.
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Stakes high as U.S. Congress returns

Barack Obama's presidency has been a wild ride for the U.S. Congress and lawmakers are bracing for more turbulence when they begin returning on Monday to tackle an array of tough issues from healthcare to energy.
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Wall Street set to fall on earnings caution, bank jitters

Wall Street was set to fall at the open on Monday on worries that problems persist for the struggling banking sector and after Bank of America's results relied heavily on one-time items as credit quality deteriorated markedly.
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Stock futures down on earnings caution, bank jitters

Stock index futures pointed to a lower open on Monday with investors cautious ahead of the latest round of earnings and after Bank of America's results relied heavily on one-time items, while credit quality deteriorated markedly.
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Asia stocks edge up, but Aussie and oil retreat

Asian stocks edged up on Monday, holding near a six-month peak and withstanding an early bout of profit-taking as investors eyed a slew of corporate earnings reports around the world this week.
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U.S. may convert bank bailout to equity share: report

Obama administration officials have determined they can avoid asking Congress for more bank bailout funds by converting existing loans to the largest U.S. banks into common stock, The New York Times reported on Sunday.

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