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Obama sees 'glimmers of hope' in economy

President Barack Obama said on Friday the recession-hit U.S. economy was showing glimmers of hope despite remaining under strain and promised further steps in coming weeks to tackle the financial crisis.

Obama sees glimmers of hope in economy

Obama sees signs of economic progress

President Barack Obama said on Friday that he was seeing glimmers of hope across the recession-hit U.S. economy but that it still remained under severe strain.

Good Friday: Obama discusses economy

President Barack Obama will discuss financial conditions in a meeting this morning with Treasury Secretary Timothy Geithner, Federal Reserve Chairman Ben Bernanke, Federal Deposit Insurance Corp head Sheila Bair, Securities and Exchange Commission chief Mary Shapiro and Comptroller of the Currency John Dugan.

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U.S. Treasury asking banks keep quiet on tests: source

The U.S. Treasury Department is asking banks not to mention the regulatory stress tests as part of their first-quarter earnings results, according to a source familiar with government discussions.

Obama: Government to buy 17,600 US cars by June 1

President Barack Obama, saying he was committed to a strong U.S. auto industry, announced on Thursday the government would buy 17,600 new fuel-efficient vehicles from ailing American automakers by June 1.

Obama seeks $83.4 billion more in 2009 war funds

The Obama administration is seeking $83.4 billion in funding for the Iraq and Afghanistan wars, including $75.8 billion for the Pentagon, for the rest of the 2009 fiscal year, a government official said Thursday.

Summers says economic free-fall to end soon

The sense of freefall for the U.S. economy is likely to end in the middle of the year, though the road to recovery could take some time, Lawrence Summers, U.S. President Barack Obama's top White House economic policy aide, said on Thursday.

Government to buy 17,600 US cars by June 1: Obama

Somali pirates keep American hostage on lifeboat

Somali pirates defied international naval powers on Thursday to keep an American ship captain hostage on a lifeboat in the Indian Ocean after their first seizure of U.S. citizens.

Obama plans meeting on bank stress tests

President Barack Obama plans to meet on Friday with top financial regulators to sketch out the next steps to take with the stress tests being conducted at the 19 biggest U.S. banks, a source familiar with the meeting said on Thursday.

Obama urges refinancing as housing measures roll out

U.S. President Barack Obama encouraged Americans on Thursday to take advantage of historically low mortgage rates and said his administration was rolling out further phases of its plan to address the housing crisis.

Obama sets up formal office for healthcare reform

President Barack Obama set up an executive office for healthcare reform at the White House on Wednesday, saying the overhaul was one of the biggest priorities for the first year of his presidency.

Obama's global debut seen as mostly successful

President Barack Obama's eight-day overseas trip yielded success on a top goal: signaling to the world a new U.S. approach that breaks with the go it alone style of President George W. Bush.

Goldman: Civil aerospace downturn may be more severe

The downturn in the civil aerospace sector is expected to be more severe than previously estimated mainly due to a decline in world air traffic and global gross domestic product, said Goldman Sachs, which downgraded Rolls Royce Group by a notch to sell.

Obama flexible on climate legislation

President Barack Obama will be flexible about climate change legislation moving through Congress, the White House said on Wednesday, indicating some wiggle room on his demand for full auctioning of carbon emissions permits to industry.

GM to meet with task force on restructuring

General Motors Corp and Chrysler launched government-backed assistance programs for parts suppliers on Wednesday, and the task force overseeing the carmakers' restructuring was expected to meet with GM this week to speed up the process.

Britain calls for united front to deal with Iran

British Foreign Secretary David Miliband called Wednesday for a united front between Gulf Arab countries and global powers to deal with Iran.

White House seeks consumer aid in U.S. climate plan

A portion of the revenue from any U.S. system capping carbon emissions must go toward softening the impact of higher energy prices on consumers, a White House official said on Wednesday.

Auto parts shares jump as GM, Chrysler launch aid

Energy Secretary supports clean-coal tech, doubts U.S. will move from coal

U.S. Energy Secretary Steven Chu said yesterday that he supports investments to develop technology that captures and stores carbon emissions originated from burning coal, but added that it would take a minimum of eight years to develop a cost-effective technology.