Mark Felsenthal

Obama, Bush commemorate victims of Tanzania’s al-Qaeda bombing

Barack Obama and his predecessor George W Bush have met in Tanzania to commemorate the victims of the 1998 al-Qaeda bombing of the US embassy.

Obama’s $7bn power plan for Africa

President Barack Obama is due to announce on Sunday a $7-billion initiative over five years to double access to power in sub-Saharan Africa.

Obama: Same-sex provision should not derail US immigration move

Obama has signaled that a proposal to add a same-sex partnership measure to a US immigration overhaul should not derail the entire legislative effort.

Obama’s last chance looms as US economy teeters on the edge

Barack Obama is due to host congressional leaders including his Republican rivals in a last-ditch bid to halt America's slide over the fiscal cliff.

Obama calls for ‘meaningful action’ after school shooting

"We've endured too many of these tragedies in the past few years," Obama said during a somber televised appearance in the White House briefing room.

Bernanke defends AIG rescue

United States Federal Reserve chairperson Ben Bernanke on Tuesday defended the government's latest bailout of embattled insurer AIG.

US govt takes over Fannie Mae, Freddie Mac

The US government seizes control of mortgage finance companies Fannie Mae and Freddie Mac in an aggressive move to help the distressed US economy.

Financial markets under heavy stress, says Fed chief

Restoring financial market stability is a top priority for the United States Federal Reserve, Fed chairperson Ben Bernanke said on Tuesday.

Fed delivers large US rate cut, markets rally

The Federal Reserve slashed United States interest rates by a hefty three-quarters of a percentage point on Tuesday, giving a lift to stock markets already jubilant over stronger-than-expected investment bank earnings. Trying to avert a deep recession and financial market meltdown, the central bank cut less than many traders had expected but left the door open to additional reductions.

Alan Greenspan criticises Bush in new book

Former Federal Reserve chairperson Alan Greenspan, in a memoir to be released on Monday, criticised President George Bush and congressional Republicans for abandoning fiscal discipline and for putting politics ahead of sound economics. In his book, Greenspan said he was surprised Bush was unwilling to temper his campaign promises with fiscal reality once elected.

Fed economic view unfazed by stocks drop

Federal Reserve chairperson Ben Bernanke said on Wednesday this week's sharp stock market drop had not changed the Fed's view that the United States economy was sound, remarks that helped shaken markets regain confidence. His remarks came a day after the US stock market suffered its worst slide since 2001.

Press Releases