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Fed prepared for policy shift if recovery stalls
Ben Bernanke reiterates that the Federal Reserve would act if the US economy does not continue to improve as new data corroborated his ‘unusually uncertain’ outlook
White House firm on deepwater drilling ban
Ken Salazar, US secretary of interior, insisted that the moratorium on new deepwater drilling in the Gulf of Mexico would remain in place in the face of tough questioning on Capitol Hill about the economic impact of the six-month ban
Obama’s legacy looks set to delight Republicans
The US president faces the possibility that his chief nuclear legacy will be an $80bn weapons modernisation the likes of which his predecessor George W. Bush could only dream
US jobless claims climb higher
First-time filings for jobless benefits continued to climb in the US, as firing staff remained stubbornly high, official figures showed
Hayward asked to testify on Megrahi
Tony Hayward, BP’s chief executive, has been invited by the foreign relations committee of the US Senate to give evidence on the release of the Lockerbie bomber
Conrad Black walks free on $2m bond
Lawyers for the former media magnate, who is due to appear in a Chicago court for a final hearing, say he no longer has identification to enable him to board a flight from Florida
Fed ready to act amid uncertain outlook
Ben Bernanke, Federal Reserve chairman, sought to balance the view that the US recovery is on track with reassurance that the central bank will act to boost the economy if it deteriorates
Obama signs bill to overhaul Wall Street
The biggest reform to US financial regulation since the 1930s became law after President Barack Obama signed the Dodd-Frank Act at a ceremony in Washington
Treasury fights back over Tarp accusations
The Treasury department fought back against watchdogs of the US government’s $700bn financial bailout, who accused it of failing to meaningfully help key parts of Main Street America, including small businesses and struggling homeowners
BP faces storm delay at spill site
The oil group could attempt to begin a ‘static kill’ of the leaking Macondo well in the Gulf of Mexico as early as this weekend, a procedure that involves pumping heavy drilling mud into the top and then sealing it with cement to stop the gusher
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