Billionaire won't air Obama-Wright campaign ads
The billionaire said to be weighing a proposal to resurrect incendiary comments by President Barack Obama's former pastor shelved the idea Thursday after Obama and Republican presidential challenger Mitt Romney denounced the tactic.
THE RACE: Politics a factor in weekend summits
President Barack Obama is taking a break from active campaigning for a few days to host back-to-back world summits. Yet U.S. presidential politics will be lurking just offstage at both.
Spain debt costs to leap at bond sale as investors eye Greece
MADRID (Reuters) - Spain's medium-term borrowing costs will rise sharply at auction on Thursday, with concerns over the health of the recession-hit country's banking sector heightened by fears that Greece may leave the euro zone. The Treasury aims to sell between 1.5 billion and 2.5 billion euros ($1.9 billion-$3.2 billion) of sovereign bonds expiring in 2015 and 2016. But with nervous investors dropping assets from euro zone periphery countries like Spain, finding buyers may prove expensive, and it could pay around 5 percent on the longest bond - half as much again as in March. ...
U.S. Senate Republicans block new Iran sanctions bill
WASHINGTON (Reuters) - U.S. Senate Republicans said on Thursday they needed more time to examine a revised packaged of new economic sanctions on Iran's oil sector on Thursday, a surprise move that drew anger from Senate Democrats, who had expected a unanimous Senate vote of approval ahead of Iran talks on May 23. "I feel I've been jerked around," Democratic Leader Harry Reid said on the Senate floor after the Republican objection. But Senate Republican Leader Mitch McConnell said his staff did not receive a draft of the bill until late on Wednesday night, and needed more time to review it. ...
Official: US to ease economic controls on Myanmar
The Obama administration says it is easing restrictions on U.S. investment and trade in Myanmar to encourage business development in the impoverished country and in recognition of its political reforms.
U.S. senators flame Facebook's Saverin on taxes
(Reuters) - Facebook co-founder Eduardo Saverin, who has renounced his U.S. citizenship, was accused on Thursday by two U.S. senators of dodging taxes on Facebook stock-market profits. When the company goes public on Friday, Saverin will make a fortune. Bloomberg first reported last week he had renounced his citizenship and, in so doing, may avoid U.S. taxes on the initial public offering. "It's infuriating to see someone sell out the country that welcomed him and kept him safe, educated him and helped him become a billionaire," said Senator Charles Schumer at a news briefing. ...
Facebook's Eduardo Saverin 'Spits in the Eye of the American People'
Sens. Chuck Schumer and Bob Casey today delivered a scathing status update for “eye-spitting” Facebook co-founder Eduardo Saverin: Stop attempting to dodge your taxes by renouncing your U.S. citizenship or never step foot in the U.S. again. “This guy just thinks he can rip us...
