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New deficit projections could slow Obama's agenda

The White House and U.S. Congress will issue separate budget estimates on Tuesday that could slow President Barack Obama's domestic policy proposals as he faces increased skepticism among lawmakers.

Daily Outlook - August 25

Obama favors Bernanke; GM's Big Decision; Cutting off the Net

Plans drawn for 1st interactive cartoon series in U.S.

Reality production company RDF aims to launch the first interactive animated series in the United States.

Asien Stocks fall as demand for risk wanes; Bernanke's nomination comes as little surprise.

Commodity prices have continued to drop sending the South African Rand and Aussie dollar lower this morning. Risk appetite has taken a hit as increasing loan losses in the U.S and lower profits from companies in China saps demand for riskier assets. This has sent the dollar and Yen higher as the usual market mechanics continue to ring true. While the markets are largely anticipating the current bounce back in the economy companies are finding a hard time justifying this excessive optimism.

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UPDATE 1-Corin first half hit by lower sales to Stryker

First-half sales and profits fell at British medical technology group Corin (COCRG.L), hit by weak demand for its Cormet hip resurfacing product and lower sales to U.S. orthopaedics giant Stryker (SYK.N).

Bernanke news lifts futures; consumer data eyed

Stock index futures were higher on Tuesday on news that Ben Bernanke will be renominated as chairman of the Federal Reserve and ahead of key consumer confidence and housing data.

SEC, BofA plead for Merrill bonus settlement

Bank of America Corp and the top U.S. securities regulator sought to persuade a judge to approve their $33 million settlement of a civil lawsuit over the lack of disclosure of billions of dollars of bonuses at Merrill Lynch & Co.

U.S. needs climate law before Copenhagen: officials

The United States needs to have a climate change law in place before international talks on a climate pact begin in December, two top Obama administration officials said on Monday.

Stock futures up on Bernanke news; housing data eyed

Stock index futures were slightly higher on Tuesday on news that Ben Bernanke will be renominated as chairman of the Federal Reserve and ahead of key consumer confidence and housing data.

U.S. sets awards to evaluate CO2 storage technology

The U.S. Department of Energy said on Monday it has awarded $27.6 million of funding to evaluate the potential risks of storing carbon dioxide underground, which is seen as a way to control global warming.

Volcker: Money funds weaken financial system

Money-market mutual funds undermine the strength of the U.S. financial system and should be regulated more like banks, Bloomberg reported former Federal Reserve Chairman Paul Volcker as saying in an interview.

Yen gains as stocks struggle, euro on back foot

The yen rose broadly on Tuesday, advancing in particular against the euro and sterling as a retreat in European shares from a 10-month high the previous day undermined demand for currencies considered to be high-risk.

GM may make Opel plans clear within 24 hours: union

General Motors may make clear within the next 24 hours whether it wants to keep its European carmaker Opel rather than sell it, a German labor representative said on Tuesday.

Oil falls below $74 on equities dip

Oil fell below $74 a barrel on Tuesday in a drop on broader global stock markets from 10 month highs hit in the previous session .

Stock futures point to mixed start for Wall St

U.S. stock index futures pointed to a mixed start for Wall Street on Tuesday after U.S. shares ended flat in the previous session as investors took a breather from a four-day rally.

Oil falls below $74 as shares hit by recovery woes

Oil fell below $74 a barrel on Tuesday, down for the first time in six days as Chinese shares plummeted on renewed concerns over the economic recovery, after reaching a 10-month high a day earlier.

Asia shares and oil retreat in choppy trade

Asian shares slipped along with commodities on Tuesday in a reversal of the previous day's solid gains, with many investors sticking to the sidelines and awaiting more clues on whether the economic recovery is picking up steam.

Obama to tap Bernanke for second term as Fed chief

U.S. President Barack Obama will nominate Ben Bernanke to a second term as chairman of the Federal Reserve Tuesday, keeping him on the job of guiding the world's largest economy out of its deepest downturn since the Great Depression.

Allen Stanford must stay in jail: court

A federal appeals court in New Orleans said on Monday that accused swindler Allen Stanford must stay in jail until his fraud trial.

Oil under $74 as Asia shares fall on recovery doubts

Oil fell below $74 a barrel on Tuesday, down for the first time in six days on softer Asian shares as renewed concerns over the economic recovery emerged, after reaching a 10-month high a day earlier.

Michael Jackson's death announced as a homicide

Michael Jackson was killed by a lethal dose of the powerful anesthetic propofol, according to findings unsealed in court documents by the Los Angeles chief medical examiner.

Auto dealers swamped as trade-in rebate ends

Americans swamped auto dealerships on Monday during the final hours of the government's popular cash-for-clunkers program, which offered rebates of up to $4,500 to trade in older gas guzzlers.

Terrorists to attack Obama during his Indonesia visit: expert

A police Investigation into last month's Jakarta hotel bombings shows that terrorist groups had made plans to use snipers to attack US president Barack Obama during his visit to Indonesia in November.

Obama to name Bernanke to 2nd term as Fed chief

U.S. President Barack Obama will nominate Ben Bernanke to a second term as chairman of the Federal Reserve on Tuesday as the economy shows signs of recovery, a senior administration official said on Monday.

Nick Jonas says he dreams of being president

Teen pop star Nick Jonas, taking a break from touring with his brothers to raise awareness of juvenile diabetes, said he dreams about being U.S. president and may study political science in college.

Obama to reappoint Bernanke to lead Fed

U.S. President Barack Obama will reappoint Ben Bernanke for a second term as chairman of the Federal Reserve on Tuesday, a senior administration official said on Monday.

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