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Geithner to stay on as Treasury chief through 2012

WASHINGTON (Reuters) – Treasury Secretary Timothy Geithner has told President Barack Obama that he intends to stay on the job, Treasury said in a statement on Sunday afternoon. “Secretary Geithner has let the president know that he plans to stay on in his position at Treasury,” Assistant Treasury Secretary Jenni…

Geithner: U.S. debt default ‘not going to happen’

WASHINGTON — The United States will not default on its debt, US Treasury Secretary Timothy Geithner said Sunday, as the clock ticks down to reaching a deal by August 2 to raise the nation’s debt ceiling. “It’s unthinkable we would not meet our obligations on time,” Geithner told CNN in…

U.S. seals deal to sell Chrysler stake

WASHINGTON — The US Treasury has said it reached an agreement to sell the government’s stake in Chrysler Group for an estimated $560 million to Italian automaker Fiat. With the deal, the Treasury “will have fully exited” its investment in Chrysler under the Troubled Asset Relief Program (TARP). “As Treasury…

Obama tax credit will support 1 million workers: report

WASHINGTON (Reuters) – A plan to expand and make permanent a popular research tax credit will support 1 million workers, the Obama administration said in a report it released on Friday. “The credit is a significant incentive to conduct research that would not otherwise be performed here in the U.S.,”…

House budget cuts raise spectre of US govt shutdown

WASHINGTON (AFP) – Historic spending cuts approved by the US House of Representatives face a grim future in the Senate, raising prospects of a government shutdown and ramping up the public relations blame game. After a marathon floor debate running well past midnight, the Republican-controlled House voted Saturday to cut…

Special report: China flexed its muscles using US Treasuries

NEW YORK (Reuters) – Confidential diplomatic cables from the U.S. embassies in Beijing and Hong Kong lay bare China’s growing influence as America’s largest creditor. As the U.S. Federal Reserve grappled with the aftershocks of financial crisis, the Chinese, like many others, suffered huge losses from their investments in American…

US attendees at ‘world government’ meeting may be breaking law: activists

Activists protesting outside this year’s meeting of the secretive Bilderberg Group say American citizens attending the meeting may be breaking the law. The 56-year-old group, which hosts some of the world’s most influential financiers and politicians on annual basis, is alleged to have been the driving force behind the launch…

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