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Obama applauds lower unemployment rate

US President Barack Obama Friday welcomed a downtick in the unemployment rate to 8.2 percent, despite a slowdown in overall job creation, but said there was more work to do to revive the economy. “We welcome today’s news that our businesses created another 121,000 jobs last month and the unemployment…

Congress gets new insider-trading rules after Obama signs bill

US President Barack Obama on Wednesday signed a new law reforming rules on insider trading for members of Congress, saying it would help deal with a deficit of trust afflicting Washington. Obama signed the bipartisan STOCK Act into law, and for once was surrounded by members of both the Republican…

Obama to slam Republican ‘social Darwinism’

US President Barack Obama will step up his reelection campaign Tuesday by accusing Republicans of pursuing an economic policy akin to ruthless “social Darwinism” that is a prescription for decline. On the day Mitt Romney, his likely rival in November, is expected to march closer to the Republican nomination, Obama will unleash a…

Obama presses lawmakers to cut oil tax breaks

US President Barack Obama pressed lawmakers Thursday to cut tax breaks for the petroleum sector, saying they can “stand with big oil companies, or they can stand with the American people.” Obama, under pressure in an election year over a surge in fuel costs, said the nation cannot afford the subsidies at a time…

N. Korea snubs Obama to overshadow nuclear summit

North Korea vowed Tuesday to go ahead with a rocket launch, snubbing demands from US President Barack Obama and other world leaders who are in Seoul for a summit on combating nuclear terrorism. The North’s plan to launch a long-range rocket next month has overshadowed the 53-nation summit, which is meant to focus on the…

Obama warns nuclear terrorism still a major threat

US President Barack Obama warned on Monday that nuclear terrorism remained one of the world’s biggest threats, as he called for greater urgency in safeguarding the world’s atomic stockpiles. In a speech hours before the opening of a nuclear security summit in South Korea, Obama said major progress had been…

House votes to repeal part of Obama health care law

WASHINGTON — The Republican-led House of Representatives voted Thursday to repeal a key measure of US President Barack Obama’s health care reform, a symbolic move on the historic law’s second anniversary. The bill, adopted by lawmakers 223-181, including seven Democrats, would scrap a 15-member panel established to control costs for…

Obama to visit DMZ between Koreas on Sunday

WASHINGTON — US President Barack Obama will visit the tense border zone between the two Koreas after arriving in Seoul on Sunday for a nuclear security summit, a White House official said Tuesday. Obama will also hold bilateral summits with China’s Hu President Hu Jintao, Russian President Dmitry Medvedev and…

Obama campaign takes in $5 million in one day

US President Barack Obama, juggling dual roles as fundraiser extraordinaire and commander-in-chief, piled up a cool five million dollars in a lucrative single-day campaign blitz. In no other country is a leader expected to tend to a deteriorating war he is leading in Afghanistan on the same day as conducting…

Obama to announce rare earth trade case against China

WASHINGTON — US President Barack Obama will Tuesday announce a new trade suit against China prompted by Beijing’s restrictions on the export of rare earth materials used in manufacturing high-tech products. A senior White House official said on condition of anonymity that the United States would bring the case at…

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