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Obama reassures Canada on open trade

President Barack Obama on Thursday assured Canada, his country's biggest trading partner, that he would not pursue protectionist policies, and the two neighbors agreed to cooperate on cleaner energy technology.

Mortgage lenders busy after Obama plan laid out

The telephones have been ringing off the hook at U.S. mortgage lenders since President Barack Obama pledged $275 billion on Wednesday to help stem a wave of home foreclosures.

Iran markedly slows atom enrichment expansion: IAEA

Iran has considerably slowed down the expansion of its contested uranium enrichment program, said a confidential International Atomic Energy Agency report obtained by Reuters on Thursday.

Kyrgyzstan shuts U.S. air base, NATO Afghan help sought

Kyrgyzstan's parliament voted on Thursday to close the last remaining U.S. air base in Central Asia, dealing a blow to U.S. efforts to use the region as a jumping-off point for its growing campaign in Afghanistan.

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Oil pauses below $35 ahead of U.S. crude stocks

Oil prices were steady below $35 a barrel on Thursday, ahead of U.S. data expected to show crude inventories in the top energy consumer have hit an 11-year high amid the worsening recession. Oil stocks in the United States have already risen by 20 percent since September as the economic downturn crushed consumption, which helped pull crude prices more than $110 off their peaks last summer. A day...

Hollywood struggles to find wealth on the Web

After more than a decade of hype about the Internet being the next great stage for mass entertainment, it remains dominated by amateurs with most Hollywood stars watching from the wings.

U.S. renewable energy gets $43 billion from stimulus

The U.S. has allocated $43 billion from the $787 billion economic stimulus package to boost clean and efficient energy.

S&P, Nasdaq dip as housing plan fails to cut fear

The S&P 500 and Nasdaq closed marginally lower on Wednesday as President Barack Obama's $275 billion plan to prop up the housing market failed to stem worries about the economy, and bleak housing data highlighted the deepening recession. Indexes see-sawed in a narrow range throughout the day, but the S&P and Nasdaq ultimately failed to hold gains despite bargain-hunting that sent investo...

Wall Street dips on housing data, sour results

The S&P 500 and Nasdaq edged lower on Wednesday, after bleak housing data overwhelmed President Barack Obama's $275 billion plan to prop up the housing market. * The Dow eked out a slight gain, narrowly avoiding a new bear-market low. * Adding to the somber mood, the Federal Reserve slashed its economic forecast for 2009, and several companies, including Deere & Co ,posted ...

Obama unveils plan to tackle housing crisis

U.S. President Barack Obama pledged up to $275 billion on Wednesday to help stem a wave of home foreclosures, part of a broad effort to lift the country out of recession. Up to 9 million families would be given the chance to refinance their mortgages under the plan, administration officials said. He unveiled the plan in Arizona, a state hard hit by home foreclosures. Obama, who a day earlier sig...

Wall Street dips on recession, housing gloom

NEW YORK - Stocks eased in choppy trading on Wednesday as data pointing to yet more weakness in housing suggested the recession is deepening, offsetting a round of bargain-hunting following Tuesday's big market slide. Data showed U.S. housing starts and building permits dropped to record lows in January, with construction plans scrapped as unsold houses stood empty. Laggards included shares of...

Bernanke vows to do all he can to revive economy

Federal Reserve Chairman Ben Bernanke pledged anew Wednesday to do everything in his power to lift the country out of recession, while defending the extraordinary steps the Fed has taken to fight the worst credit and financial crisis since the 1930s.

Recession and housing gloom weigh on stocks

NEW YORK - Stocks dipped in choppy trading on Wednesday as data pointing to yet more weakness in housing suggested the recession is worsening, offsetting a search for bargains following Tuesday's big market slide. Data showed U.S. housing starts and building permits dropped to record lows in January, with construction plans scrapped as unsold houses stood empty. Drags included shares of financ...

U.S. housing starts, permits plumb record lows

WASHINGTON - U.S. housing starts and building permits dropped to record lows in January, data showed Wednesday, as builders shelved construction plans to try to clear a glut of unsold houses caused by a slump in demand. The data came as President Barack Obama unveiled a plan pledging up to $275 billion to help stem home foreclosures in an attempt to break the housing sector's downward spiral, w...

Afghans turn new page as U.S. sends more troops

Afghanistan is turning a new page in relations with the United States, an Afghan presidential spokesman said on Wednesday, as U.S. President Barack Obama ordered 17,000 more troops deployed to battle Taliban insurgents.

Fed's Pianalto: Bold Fed action will restore growth

The U.S. economy is facing an unwelcome disinflation, but bold policy action will restore growth in the second half of this year, Federal Reserve Bank of Cleveland President Sandra Pianalto said on Wednesday.

Obama unveils plan for troubled housing market

President Barack Obama on Wednesday unveiled the next step in his multi-pronged efforts to lift the United States out of recession Wednesday, pledging up to $275 billion to help stem a wave of home foreclosures that sparked the U.S. financial meltdown.

Obama housing help plan pledges up to $275 billion

President Barack Obama unveiled his much-anticipated plan on Wednesday to fight the U.S. housing crisis, pledging up to $275 billion to help stem a wave of foreclosures sweeping the country.

Opening bounce on Wall St. seen after slide

NEW YORK - Stocks headed for a bounce at the open on Wednesday as investors looked to snap up beaten-down shares after Tuesday's slide to three-month lows. A speech later in the day by President Barack Obama to announce a plan to stem home foreclosures would likely offer investors more direction after government data showed U.S. housing starts and permits dropped to record lows in January. Adv...

CORRECTED: Stock futures rise on bargain hunting

Corrects S&P 500's year-to-date drop in last paragraph to 'more than halved' from 'erased' By Ellis Mnyandu NEW YORK - Stock index futures rose on Wednesday as investors looked to snap up beaten-down shares following the prior session's slide. A speech due later in the day by U.S. President Barack Obama to announce a plan to stem home foreclosures would likely offer investors more di...

Stock futures rise on bargain hunting

NEW YORK - Stock index futures rose on Wednesday as investors looked to snap up beaten-down shares following the prior session's slide. A speech due later in the day by U.S. President Barack Obama to announce a plan to stem home foreclosures would likely offer investors more direction, a day after Wall Street slid to three-month closing lows. Advancers before the bell included Citigroup Inc &l...

U.S. stimulus crucial for smart grid: industry

The electric power industry and manufacturers say $4.5 billion in the $787-billion U.S. economic stimulus package will give a crucial boost to smart grids that will help the nation save money and electricity.

DTV coupon backlog seen gone within weeks

Consumers should be able to receive new coupons within weeks to help defray the cost of converter boxes for the nationwide switch to digital television signals, the federal government said on Tuesday.

Stocks sink to November lows on recession fears

NEW YORK - Stocks slid within striking distance of the November bear-market low on Tuesday, as grim manufacturing data signaled the recession is worsening and warnings on risks facing European banks underscored the continuing toll of the financial crisis. Financial stocks sank to 14-year lows after Moody's Investors Service said banks could be hit by the recession in Eastern Europe, pulling the...

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