WASHINGTON - President Barack Obama will not formally announce his new auto task force on Monday, a White House aid said, clarifying remarks from a spokesman earlier.
Press Secretary Robert Gibbs told reporters on board Air Force One on Monday he thought a formal announcement about the strategy would be released in a written statement later in the day.
But a White House aide said no further not...
TOKYO - Japan sank deeper into recession with its worst quarterly contraction since the oil crisis in the 1970s, its reliance on exports and soft domestic demand dragging down the world's second-largest economy.
Hillary Clinton, in Tokyo on her first trip abroad as U.S. secretary of state, said Asia and the United States must fight the global crisis together.
The U.S.-Japanese relationship was...
ABOARD AIR FORCE ONE - President Barack Obama could announce his new auto task force later on Monday, his spokesman said.
I think the unveiling will come later today, Robert Gibbs told reporters on board Air Force One when asked when the president would formally announce his new strategy.
He said the announcement would likely be in a written statement.
Obama has decided to launch a governm...
WASHINGTON - The $7.2 billion in funding to promote high-speed Internet in the stimulus package is just the first step in the Obama administration's effort to fuel expansion of telecommunications services, an adviser to the president said on Monday.
Despite new federal money, the amount is but a fraction of what is needed to establish the United States in terms of broadband versus other dev...
ROME - U.S. House Speaker Nancy Pelosi defended the United States against accusations of protectionism during a trip to Italy on Monday, following concerns about a Buy American provision in the U.S. stimulus plan.
Somewhere in the mix of things, someone has decided that America has become, is becoming, more protectionist. I don't think that is the case, Pelosi told reporters at the Ital...
Negotiators for General Motors Corp and the United Auto Workers union, staring down a Tuesday deadline for the struggling automaker to submit a plan for its survival to the U.S. government, were making progress in high-stakes talks aimed at cutting GM's costs and debt, a person familiar with the matter said.
LONDON - U.S. oil prices stayed above $37 a barrel on Monday, as bearish economic data from Asia slowed the upward momentum after a sharp rally at the end of last week.
Japan's economy shrank in the last quarter by its most since the first oil crisis in 1974, hit by an unprecedented slump in exports, which is likely to lead to more calls for extra stimulus steps to fight the deepening recession...
President Barack Obama's aides warned Americans on Sunday not to expect instant miracles from the $787 billion economic stimulus bill he will sign this week, but said it would help eventually.
President Barack Obama has decided to launch a government task force for restructuring the struggling U.S. auto industry instead of naming a car czar with sweeping powers, a senior administration official said on Sunday.
CHICAGO - President Barack Obama has decided to form a government task force to oversee the restructuring of the struggling U.S. auto industry instead of naming a car czar with sweeping powers, a senior administration official said on Sunday.
Obama is appointing Treasury Secretary Timothy Geithner as his designee for overseeing auto bailout loans and as co-head of the new high-level pane...
U.S. lawmakers have passed a $787 billion stimulus package aimed at boosting the economy which President Barack Obama had wanted the Congress to approve and has said he will sign into law.
Barack Obama won a big victory when Congress agreed to his economic stimulus plan, but the new U.S. president has also suffered a series of setbacks to his No-Drama Obama image in his first weeks in office.
President Barack Obama shared kind words of Beverly Eckert, one of the victims aboard the Continental Express flight 3407 which crashed Thursday night, who was also the widow of Sean Rooney who died in the 9/11 attacks.
Beverly Eckert, who was among the 50 people killed when a commuter plane crashed outside Buffalo, N.Y. Eckert, was an inspiration to President Barack Obama.
With the U.S. economic stimulus package of $790 billion is set to be approved by Congress, concerns are growing at the Energy Department on how the agency will manage the quick expenditure of about $40 billion included in the package for renewable energy projects meant to boost employment.
New Hampshire Republican Sen. Judd Gregg withdrew his name for consideration as President Barack Obama's nominee for Commerce of Secretary stating irresolvable conflicts related to the stimulus package and the Census.
President Obama urged Congress to pass the economic stimulus package before the end of the holiday weekend so he could sign it into law in an effort to help the nation emerge from a recession.
Spurred on by President Barack Obama, US lawmakers on Thursday prepared for final votes by week's end on an unprecedented 789-billion-dollar plan to help Americans through a painful economic crisis.
Electric luxury automaker Tesla Motors Inc. may receive a loan for $350 million from the U.S. Department of Energy's $25 billion program to encourage building of more fuel efficient cars.
Rep. Barney Frank, the head of the House Financial Services Committee, said Thursday the Obama administration is more trustworthy than the Bush administration to ensure that banks do not misuse money bank bailout funds.
U.S. efforts to take action on slowing business activity, joblessness and reduced credit grew on Wednesday as U.S. lawmakers moved to pump tax dollars into the economy, reduce taxes going forward and grilled top U.S. bank executives amid widespread concern.
Saudi Arabia Oil Minister Ali al-Naimi warned on Tuesday that a too quick promotion of investments in alternative energies could chill investments in the oil sector and create a nightmare scenario.
