BARACK OBAMA

(Corrects comment initially sent at 11:58 a.m. to change number of banks downgraded by S&P to 18 in second bullet and lead paragraph)

President Barack Obama laid out his vision for recrafting U.S. financial regulation on Wednesday, vowing to halt a cascade of mistakes ... over the course of decades that eroded bank and market oversight.

President Barack Obama said Tuesday that today’s antiquated U.S. financial system puts “American dreams” in “consistent danger,” as he announced his proposals to change the laws which govern how financial companies are run.

Stocks climbed on Wednesday, led by technology and biotech stocks, while declining financial shares reined in the Dow's and S&P's gains after a broad debt ratings downgrade on banks.

Russia hopes U.S. President Barack Obama will not pursue his predecessor's plan to deploy weapons in space but Moscow is ready to respond appropriately to any such moves, a senior Russian general said on Wednesday.

President Barack Obama laid out his vision for reshaping U.S. financial regulation on Wednesday, aiming to tighten oversight of large firms whose excessive risk-taking triggered a global economic slump.

Stocks were mixed on Wednesday, weighted by a downgrade of 22 banks by Standard and Poor's and a disappointing earnings outlook from economic bellwether FedEx Corp .

Stocks slipped on Wednesday, weighted by a downgrade of 22 banks by Standard and Poor's and a disappointing earnings outlook from economic bellwether FedEx Corp .

U.S. President Barack Obama said on Tuesday that North Korea's nuclear posed a grave threat not only to the United States, but to world security.

President Barack Obama will lay out on Wednesday his vision for reshaping U.S. financial regulation, aiming to tighten oversight of the largest firms whose excessive risk-taking triggered a global recession.

Stock index futures pointed to a flat to lower open on Wednesday as key data for May tempered inflation concerns but was offset by a disappointing earnings outlook from package delivery company FedEx Corp .

U.S. President Barack Obama will sign a memorandum on Wednesday to extend healthcare and other benefits to unmarried domestic partners of federal workers, a White House official said on Tuesday.

The leaders of South Korea and the United States told North Korea to drop its atomic ambitions and stop threatening the region while media reports on Wednesday said Pyongyang was moving ahead with plans to launch a long-range missile.

Stock index futures were little changed on Wednesday as caution prevailed ahead of key inflation data for May and quarterly results from package delivery company FedEx Corp that may shed light on the strength of the economic recovery.

Stock index futures were little changed on Wednesday as caution prevailed ahead of key inflation data for May and quarterly results from package delivery company FedEx Corp that may shed light on the strength of the economic recovery.

Supporters of Iran's defeated presidential candidate Mirhossein Mousavi aim to keep pressure up with new protests on Wednesday over a disputed poll which has led to the biggest upheaval since the 1979 Islamic revolution.

President Barack Obama will unveil on Wednesday his plans for reshaping U.S. financial regulation, with proposals to close one bank regulator and create new overseers for big-picture economic risk and consumer financial product safety.

The Obama administration plans to streamline U.S. bank oversight and put the Federal Reserve in charge of monitoring big-picture economic risks in a sweeping regulatory overhaul to be formally unveiled on Wednesday, a senior administration official said.

The House of Representatives on Tuesday narrowly backed a $106 billion bill to pay for the U.S. wars in Iraq and Afghanistan and extend billions in new credit to the International Monetary Fund.

Renewable energy projects in the western U.S. states may develop quickly after the Obama administration’s Interior and Agriculture departments announced their support for a solid energy system at the Western Governors Association annual meeting on Monday.

The Obama administration plans to merge two banking regulators and create a federal watchdog on consumer financial products as part of a sweeping reform plan to be formally unveiled on Wednesday.