US-NEWS Summary

Sep 6, 2011, 11:30 p.m.

Yahoo CEO Bartz fired over the phone, rocky run ends

SAN FRANCISCO (Reuters) - Yahoo Inc Chairman Roy Bostock fired CEO Carol Bartz over the phone on Tuesday, ending a tumultuous tenure marked by stagnation and a rift with Chinese partner Alibaba. Chief Financial Officer Tim Morse will step in as interim CEO, and the company will search for a permanent leader to spearhead a battle in online advertising and content with rivals Google Inc and Facebook.

Obama to propose $300 billion jobs package: reports

WASHINGTON (Reuters) - President Barack Obama, facing waning confidence among Americans in his economic stewardship, plans some $300 billion in tax cuts and government spending as part of a job-creating package, U.S. media reported on Tuesday. The price tag of the proposed package, to be announced by Obama in a nationally televised speech to Congress on Thursday, would be offset by other cuts that the president would outline, CNN reported, citing Democratic sources.

S&P met with bond investors before U.S. debt downgrade: report

(Reuters) - Ratings agency Standard & Poor's officials privately met with large bond investors weeks before the firm's U.S. debt downgrade, leaving some believing the chance of a rating downgrade was higher than they had previously thought, the Wall Street Journal said. In the run-up to the debt downgrade, S&P officials had visited large bond firms including Allianz SE's Pacific Investment Management Co (Pimco), TCW Group Inc, Legg Mason Inc's Western Asset Management and BlackRock Inc, the Journal said, citing people who either attended the meetings or were briefed on them afterwards.

U.S. safer 10 years after 9/11, but at what cost?

NEW YORK (Reuters) - Tourists flock to Times Square for the bright lights and Broadway shows. There they find another spectacle: helmeted police with machine guns patrolling the subway station on the lookout for would-be bombers and gunmen. Ten years after the September 11 attacks of 2001, the United States has altered the balance between freedom and security, turning an open and casual society into an ever-vigilant one.

Gaddafi last tracked heading south: top Libyan official

BENGHAZI, Libya/AGADEZ, Niger (Reuters) - Muammar Gaddafi was last tracked heading for Libya's southern border, the man leading the hunt for the deposed leader told Reuters, and French and Niger military sources said scores of vehicles carrying pro-Gaddafi forces had crossed into Niger. Hisham Buhagiar, who is coordinating efforts to find Gaddafi, said reports indicated he may have been in the region of the southern village of Ghwat, some 300 km north of the border with Niger, three days ago.

Obama's "smart power" plan risks death of 1,000 cuts

WASHINGTON (Reuters) - President Barack Obama's pledge to boost America's global standing by ramping up U.S. diplomacy and development aid faces death by a thousand cuts as lawmakers prepare to carve huge chunks out of U.S. overseas spending to address budget shortfalls. Secretary of State Hillary Clinton's State Department and the U.S. Agency for International Development (USAID) could be chopped back significantly.

Greece, Italy under pressure on euro zone austerity

Most Recent