BARACK OBAMA

Stocks suffered their worst one-day percentage drop since October on Thursday as U.S. President Barack Obama proposed tough restrictions on banks that would squeeze profits.

The number of U.S. workers newly applying for unemployment benefits unexpectedly rose last week and regional manufacturing slipped in January, hinting at some slowing in the pace of economic recovery.

The S&P 500 index fell on Wednesday as stocks declined following President Barack Obama's announcement of his proposal for new bank regulations.

President Barack Obama proposed on Thursday new limits on financial risk-taking.

Oil prices fell more than 2 percent to a 2010 low around $76 a barrel on Thursday, after government data showed a sharp drop in U.S. refining activity to nearly its lowest level in 25 years, indicating weak demand for fuels.

Goldman Sachs Group Inc , under fire for gold-plated pay packages, cut average pay per employee by about a quarter from record 2007 levels, helping boost its profit to a record.

U.S. stocks dropped on Thursday as President Barack Obama took a tough stance on financial institutions, proposing rules to make the system safer by preventing the biggest banks from taking excessive risks.

U.S. stocks dropped on Thursday as President Barack Obama took a tough stance on financial institutions, proposing rules to make the system safer by preventing the biggest banks from taking excessive risks.

The U.S. Supreme Court ruled on Thursday that corporations can spend freely to support or oppose for presidential and congressional elections.

Corporations can spend freely to support or oppose candidates for president and Congress, the Supreme Court ruled on Thursday in a landmark decision that allows massive sums to be spent to influence future elections.

House Speaker Nancy Pelosi said on Thursday she did not think the Senate's version of healthcare reform had enough support to pass the House of Representatives without changes.

President Barack Obama proposed stricter limits on financial institutions' risk-taking on Thursday in a new populist-tinged move that sent bank shares tumbling and aimed to shore up the president's political base.

The Dow Jones Industrial average was down nearly 2 percent on Wednesday as commodities and financial stocks fell following President Barack Obama's announcement that he would seek further curb big banks.

Wall Street tumbled on Thursday after President Barack Obama proposed rules aimed at making the financial system safer by preventing the biggest banks from taking excessive risks.

President Barack Obama proposed stricter limits on financial risk-taking on Thursday in a new populist-tinged move that sent bank shares lower and aimed to shore up his own political base.

U.S. stocks fell 1 percent on Thursday on uncertainty about the impact of proposed restrictions expected from the Obama administration on big banks.

Pakistan ruled out any new offensive against militants Thursday, even as U.S. defence chief Robert Gates began meetings aimed at persuading the country to expand its military campaign to take on Afghanistan's Taliban.

Goldman Sachs Group Inc , which had been on track to pay employees a near-record amount, instead set aside nothing for compensation in the fourth quarter and gave $500 million to charity.

The Dow and S&P 500 fell on Thursday as fears any proposed new restrictions by the Obama administration on big banks would cut profits at large trading firms like Goldman Sachs Group.

President Barack Obama will propose stricter limits on financial risk-taking on Thursday in his latest populist-tinged move to crack down on banks and address the roots of the financial crisis.

Goldman Sachs Group Inc , which had been on track to pay employees a near-record amount, instead set aside nothing for compensation in the fourth quarter and gave $500 million to charity.