Tuesday, April 17, 2012

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Tuesday, April 17, 2012 8:30 PM PDT
Today's Politics - Bloomberg News Headlines - Yahoo! News:
Lockheed braces for cuts in space programs
Tue,17 Apr 2012 06:45 PM PDT
Reuters - COLORADO SPRINGS, Colorado (Reuters) - The U.S. Defense Department is unlikely to kill major military satellite programs even if it is forced to double $487 billion in spending cuts already planned for the next decade, but cuts and delays are a sure bet, a senior Lockheed Martin Corp executive said. "There'll be cuts and slips, and it'll be painful and it'll be disruptive to the supply chain and it'll ultimately cost the government more," Joanne Maguire, executive vice-president of Lockheed Martin Space Systems, told Reuters in an interview at a space conference in Colorado. ... Full Story
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Senate begins debating Postal Service overhaul
Tue,17 Apr 2012 06:36 PM PDT
Reuters -

To match Special Report USA/USPSWASHINGTON (Reuters) - The Senate voted on Tuesday to begin debating legislation that would allow the cash-strapped Postal Service to end Saturday mail delivery after two years. The bill from Republicans Susan Collins and Scott Brown, Democrat Thomas Carper and Independent Joe Lieberman would also allow the mail agency to use surplus funds in a federal retirement account to offer retirement incentives and to explore developing its own health care plan. The Postal Service has struggled to staunch billions in annual losses as consumers increasingly send email and pay bills online. ...


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Arizona governor vetoes bill allowing guns in state buildings
Tue,17 Apr 2012 05:59 PM PDT
Reuters -

Arizona Governor Jan Brewer talks to reporters after voting for Republican presidential candidate and former Massachusetts Governor Mitt Romney in GlendalePHOENIX (Reuters) - Arizona Governor Jan Brewer on Tuesday vetoed a controversial bill that would have allowed people to tote guns into state government buildings that previously had been off-limits. For the second consecutive year, Brewer rejected the measure backed by gun rights advocates to allow guns in public buildings, except where security personnel were posted at the entrances and metal detectors or X-ray machines were present. ...


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Halt California funds for high-speed rail: budget watchdog
Tue,17 Apr 2012 05:47 PM PDT
Reuters -

An undated artist's illustration courtesy of the California High-Speed Rail Authority.SAN FRANCISCO (Reuters) - California lawmakers should not approve Governor Jerry Brown's budget proposals to provide additional funds for the state's pricey planned high-speed rail system, the state's budget watchdog agency said in a report on Tuesday. The report by the nonpartisan Legislative Analyst's Office said the California High-Speed Rail Authority has "not made a strong enough case for going forward with the project at this time." The report comes after the authority earlier this month slashed its construction cost estimates by some $30 billion to $68. ...


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What does Caraco court win mean for generic drug companies?
Tue,17 Apr 2012 05:03 PM PDT
Reuters - (Reuters) - U.S. Supreme Court Justice Elena Kagan had fun with semantics in Tuesday's unanimous ruling in the Caraco Pharmaceutical versus Novo Nordisk case in which pharmaceutical companies faced off against generic drug makers. At issue was a 2003 law with a loophole used by brand-name drug makers to keep generic competitors off the market. Faced with expiring patents on successful drugs, brand makers in the 1990s began extending their monopoly rights by obtaining "method" patents on use of the medications. Such patents could give brand-makers longer exclusivity, but the U.S. ... Full Story
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U.S. agents, military took up to 21 women to Colombia hotel
Tue,17 Apr 2012 04:58 PM PDT
Reuters - WASHINGTON (Reuters) - U.S. Secret Service agents and military personnel took as many as 21 women back to their hotel in Colombia in an incident last week involving alleged misconduct with prostitutes, a Republican senator said on Tuesday. "There are 11 agents involved. Twenty or 21 women foreign nationals were brought to the hotel, but allegedly Marines were involved with the rest," Senator Susan Collins of Maine - who was briefed by the director of the Secret Service, Mark Sullivan - said in an email to Reuters. ... Full Story
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Bank of Canada says BoE governor story inaccurate
Tue,17 Apr 2012 04:58 PM PDT
Reuters - (Reuters) - The Bank of Canada on Tuesday dismissed as inaccurate a newspaper report which said Governor Mark Carney had been approached as a possible candidate to take over as head of the Bank of England. The Financial Times, citing what it said were three people involved in the process, said Carney had been approached by a member of the Bank of England's court, the largely non-executive body that oversees its activities. ... Full Story
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IRS rule threatens bank capital flight: analysts
Tue,17 Apr 2012 04:41 PM PDT
Reuters - (Reuters) - Banks in Texas, Florida and other southern states could face a pull-out of non-U.S. depositors due to a new U.S. rule finalized on Tuesday, industry analysts said. The rule issued by the Internal Revenue Service will require U.S. banks, starting on January 1, 2013, to report to the IRS payments of interest made to non-resident aliens. "The reporting required by these regulations is essential to the U.S. government's efforts to combat offshore tax evasion," said an IRS statement announcing the rules' finalization. ... Full Story
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Obama has confidence in Secret Service chief: White House
Tue,17 Apr 2012 04:08 PM PDT
Reuters -

U.S. Secret Service Director Sullivan speaks during a news conference in SofiaWASHINGTON (Reuters) - President Barack Obama has confidence in Secret Service director Mark Sullivan and believes he acted swiftly to deal with a scandal in Colombia where agents were alleged to have engaged in misconduct involving prostitutes, the White House said on Tuesday. Eleven Secret Service agents were placed on administrative leave following the incident at a hotel in Cartagena, Colombia, that marred Obama's weekend trip there for a hemispheric summit and raised questions about the agency's culture. ...


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U.S. Secret Service's unassuming chief now in spotlight
Tue,17 Apr 2012 04:08 PM PDT
Reuters - WASHINGTON (Reuters) - U.S. Secret Service Director Mark Sullivan told lawmakers last month that he expected a challenging year in 2012, with a major international summit in Chicago to secure, not to mention the Republican and Democratic presidential conventions. Little did he know. Sullivan, a 29-year veteran of the Secret Service, now leads an agency caught up in perhaps its worst scandal in modern times, as investigators probe allegations that agents brought prostitutes to a Colombia hotel, virtually on the eve of President Barack Obama's visit. ... Full Story
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Egypt vote chaos boosts Moussa, Abol Fotouh
Tue,17 Apr 2012 04:02 PM PDT
Reuters -

A combination photo shows three disqualified Egyptian presidential candidates Khairat al-Shater, Omar Suleiman and Hazem Salah Abu IsmailCAIRO (Reuters) - The race for the Egyptian presidency has been redefined by the disqualification of Hosni Mubarak's spy chief and prominent Islamists, including a Muslim Brotherhood candidate and a popular Salafi cleric. The developments add to the turbulence of a transition to democracy that has been punctuated by spasms of violence and political rivalries between once-banned Islamists, secular-minded reformists and remnants of the Mubarak order that was overthrown in last year's popular uprising. ...


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U.S. Republican has no regrets calling Democrats communists
Tue,17 Apr 2012 03:40 PM PDT
Reuters -

U.S. Rep. West speaks at the Mae Volen Senior Center in Boca RatonWASHINGTON (Reuters) - U.S. Congressman Allen West on Tuesday refused to back away from earlier remarks to constituents in Florida that dozens of Democrats in the U.S. House of Representatives were communists. The freshman Republican who is backed by conservative Tea Party activists was asked at a forum whether he had second thoughts about calling the 78 members of the House Progressive Caucus communists. "I don't regret it whatsoever," said West, who is facing a tough race for re-election in November. "There is a very thin line between communism, progressivism, Marxism, Socialism ... ...


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Would-be New York City suicide bombers detail plot
Tue,17 Apr 2012 03:19 PM PDT
Reuters -

Attorney for Najibullah Zazi, Michael Dowling, leaves U.S. District Court in BrooklynNEW YORK (Reuters) - Two members of a plot to carry out suicide attacks on New York City subways said their third accused co-conspirator provided early leadership but was later sidelined from decisions after rifts began to form, according to testimony in federal court. Najibullah Zazi, 27, and Zarein Ahmedzay, 27, testified against Adis Medunjanin, 28, who is on trial in federal court. Medunjanin faces life in prison on charges of conspiring to kill U.S. troops in Afghanistan, providing support to al Qaeda and attempting to commit suicide attacks in New York City. ...


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Two former executives admit paying foreign bribes
Tue,17 Apr 2012 03:05 PM PDT
Reuters - WASHINGTON (Reuters) - Two former executives at a California valve company pleaded guilty to foreign bribery charges, the Justice Department said on Tuesday, handing the department a victory after a string of defeats. Control Components Inc's former president, Stuart Carson, and his wife, Hong Carson, the company's former director of sales for China and Taiwan, pleaded guilty late Monday before a federal judge in Santa Ana, California, the DOJ said. ... Full Story
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Palestinian prisoners launch "battle of empty stomachs"
Tue,17 Apr 2012 03:01 PM PDT
Reuters -

Palestinians take part in a rally in Ramallah, marking Palestinian Prisoners DayRAMALLAH, West Bank (Reuters) - At least 1,200 Palestinians in Israeli jails launched an open-ended hunger strike on Tuesday, raising the stakes in a protest about jail conditions and justice that has put the Jewish state under heightened scrutiny. The start of their action coincided with the release of Khader Adnan, a prisoner who refused food for 66 days before agreeing to a deal under which he was released late on Tuesday and greeted by hundreds of supporters when he reached his home town in the West Bank. Adnan, 33, is a member of Islamic Jihad, which has vowed to destroy Israel. ...


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Union rift with U.S. Democrats? That is so last year
Tue,17 Apr 2012 02:59 PM PDT
Reuters -

U.S. President Obama stands behind AFL-CIO President Trumka before he speaks at the AFL-CIO Executive Council meeting in WashingtonWASHINGTON (Reuters) - A year ago, organized labor was threatening a break with President Barack Obama for being too willing to compromise with Republicans on issues like the debt ceiling, Bush tax cuts, free trade and workplace legislation. Union leaders said they would no longer walk in lock step with Democratic politicians if they did not support labor's agenda, and hinted at more campaigns like the $10 million they spent in an unsuccessful bid to defeat Democratic Senator Blanche Lincoln in the 2010 Arkansas primary. But that was last year. ...


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Mexican poll points to big win for PRI's Pena Nieto
Tue,17 Apr 2012 02:57 PM PDT
Reuters -

To match Interview MEXICO-DRUGS/PENANIETOMEXICO CITY (Reuters) - Mexico's presidential front-runner, Enrique Pena Nieto, has extended his lead and the opposition Institutional Revolutionary Party (PRI) he represents could gain an absolute majority in the lower house of congress, a survey showed. Consulta Mitofsky said on Tuesday its latest opinion poll for the July 1 presidential vote showed Pena Nieto extending his big lead with 40.2 percent support, up 1.1 percentage point from the polling firm's survey published on March 13. He was followed by Josefina Vazquez Mota, of the ruling National Action Party (PAN), at 22.6 percent. ...


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Canadian green group splits, thumbs nose at Ottawa
Tue,17 Apr 2012 02:51 PM PDT
Reuters - CALGARY, Alberta (Reuters) - A Canadian environmental group has split in two as a way to keep up public opposition to projects such as Enbridge Inc's Northern Gateway oil pipeline to the West Coast, while avoiding moves by Ottawa that threatened its previous charitable status. Officials with ForestEthics Canada, a staunch opponent of the C$5.5 billion ($5.6 billion) pipeline, said on Tuesday one segment will keep on working on environmental projects and agreements as a way to adhere to tighter enforcement of rules that limit the political action of charitable groups. ... Full Story
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Canada to cut back on environmental reviews
Tue,17 Apr 2012 02:43 PM PDT
Reuters -

Natural Resources Minister Joe Oliver speaks at a news conference at the Automatic Coating Limited plant in TorontoTORONTO/OTTAWA (Reuters) - Canada said on Tuesday it would streamline the way it performs environmental reviews on major industrial projects in a bid to speed the development of mines and pipelines, a move critics predicted could cause an environmental disaster. And in a policy change that could benefit the oil and gas industry, the Conservative government said it will strip key veto powers from the federal energy regulator and give itself the final say on approving major pipelines. ...


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Colleges angle for influential foreign students like Bo Guagua
Tue,17 Apr 2012 02:42 PM PDT
Reuters - (Reuters) - His academic record was spotty, but as he applied for graduate studies in the United States, Bo Guagua would have looked like quite a catch to many universities, according to researchers who study college admissions. The young man had deep connections to China's elite; his father was an up-and-coming politician poised to enter the Communist Party leadership and his mother came from a renowned military family. On top of all that, young Bo appeared to have access to considerable wealth -- and was not shy about spending it. ... Full Story
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"We gonna pawty," said high-flying U.S. government official
Tue,17 Apr 2012 02:31 PM PDT
Reuters -

Jeff Neely of the General Services Administration leaves after he declined to testify in WashingtonWASHINGTON (Reuters) - A U.S. government official at the center of an election-year spending scandal kept traveling far and wide at taxpayers' expense - long after his boss was advised a year ago of suspected abuses, according to a congressional review released on Tuesday. The official, Jeff Neely, made four-day visits in March to Hawaii and Napa, California, just days before he was placed on leave at the General Services Administration, pending further investigation and possible criminal charges, the review showed. ...


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No need for kangaroo harvest reports: California governor
Tue,17 Apr 2012 02:24 PM PDT
Reuters -

California Governor Jerry Brown speaks in front of a California flag in Long BeachSAN FRANCISCO (Reuters) - California lawmakers won't be briefed any longer on kangaroo harvests in Australia under a plan to scrap more than 700 reports required by state law that Governor Jerry Brown unveiled on Tuesday. Australia's annual kangaroo harvest report, which California's Department of Fish and Game is required to track and provide to lawmakers, is one of 718 "unnecessary bureaucratic" reports discovered in audits of state agencies and departments ordered by Brown in December, according to a statement from his office. ...


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U.N. sees need for more Syria observers, aircraft
Tue,17 Apr 2012 02:14 PM PDT
Reuters -

A team of U.N. monitors walk through a hotel in DamascusBEIRUT (Reuters) - A United Nations mission to oversee an end to violence in Syria may need to bring in its own aircraft and deploy more troops to ensure that a firm ceasefire takes hold throughout the country, U.N. Secretary General Ban Ki-moon said on Tuesday. A six-day-old truce has held in some parts of Syria since President Bashar al-Assad pledged to enforce it last week. But in strong opposition areas such as Homs, Hama, Idlib and Deraa the army continues to attack and battle rebels, using heavy weapons in violation of the pledge by Damascus to pull back. ...


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Italian kidnapped in Algeria freed after 14 months
Tue,17 Apr 2012 02:13 PM PDT
Reuters - ROME (Reuters) - Maria Sandra Mariani, an Italian tourist kidnapped by Al Qaeda-linked insurgents in Algeria more than 14 months ago, was freed in northern Mali, authorities in Italy and Burkina Faso said on Tuesday. Mariani, who was kidnapped in southeastern Algeria on February 2, 2011, was released in the northern Malian town of Tessalit and then taken south to Ouagadougou, capital of Mali's neighbor Burkina Faso. "I thank President (Blaise) Compaore for his contribution to my release," Mariana told reporters before boarding a plane to Italy. ... Full Story
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Romney begins to win over conservatives
Tue,17 Apr 2012 02:02 PM PDT
Reuters -

U.S. Republican presidential candidate and former Governor of Massachusetts Romney greets supporters during the Independence Hall Tea Party Association's Tax Day Tea Summit in Philadelphia, PennsylvaniaBETHEL PARK, Pennsylvania (Reuters) - After years of mistrust, Republican Mitt Romney is slowly beginning to convince reluctant conservatives to unite behind him ahead of the November 6. presidential election. Using a mixture of public attacks on President Barack Obama's economic record, and quieter lobbying with conservative groups, the former Massachusetts governor is now seeing the fruit of his efforts to shore up his right flank. U.S. House of Representatives Speaker John Boehner endorsed Romney on Tuesday as the candidate who can "put Americans back to work. ...


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Arab ministers urge Syria to open up to U.N. monitors
Tue,17 Apr 2012 01:59 PM PDT
Reuters - DOHA (Reuters) - Arab League ministers met U.N.-Arab special envoy Kofi Annan on Tuesday and pressed Syria to cooperate fully with his peace mission, first by providing unfettered access to ceasefire monitors, but Qatar said Damascus may be "playing for time". A six-day-old truce has held in some areas of Syria but fighting has persisted in others since President Bashar al-Assad pledged to honor it last week. A small U.N. observer mission went to the country this week to monitor the ceasefire. ... Full Story
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Georgia welfare law requires drug test to receive aid
Tue,17 Apr 2012 01:55 PM PDT
Reuters - ATLANTA (Reuters) - Low-income adults seeking public assistance in Georgia will have to pass a drug test before receiving benefits under a measure signed by Governor Nathan Deal on Monday, making it the latest state to push through the controversial testing requirement. Supporters of the Social Responsibility and Accountability Act said it is designed to ensure that welfare payments, called Temporary Assistance to Needy Families, are not "diverted to illicit drug use. ... Full Story
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Mutual funds sue U.S. CFTC over registration rule
Tue,17 Apr 2012 01:36 PM PDT
Reuters - WASHINGTON (Reuters) - Groups representing mutual funds and businesses filed a lawsuit on Tuesday against the U.S. Commodity Futures Trading Commission, challenging a rule that will require funds to register with the agency in the latest battle against new regulations coming out of Washington. The Investment Company Institute and the U.S. Chamber of Commerce complained that the rule duplicates a requirement that funds register with the Securities and Exchange Commission. It is the second lawsuit to be filed recently in U.S. District Court for the District of Columbia against the CFTC. ... Full Story
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AU suspends Guinea-Bissau for coup, talks under way
Tue,17 Apr 2012 01:35 PM PDT
Reuters - (Reuters) - By Alberto Dabo BISSAU, April 17, Reuters - The African Union (AU) suspended Guinea-Bissau on Tuesday over last week's coup, adding to pressure on military chiefs who said they were ready to restore power to civilians after talks with regional mediators. "The (AU's) Peace and Security Council decides to suspend with immediate effect Guinea Bissau from all activities...until restoration of constitutional order," AU Commissioner for Peace and Security Ramtane Lamamra said in Addis Ababa. ... Full Story
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White House says Obama would veto Republican tax cut
Tue,17 Apr 2012 01:25 PM PDT
Reuters -

U.S. President Barack Obama makes a statement announcing a plan to crack down on manipulation in oil markets in the Rose Garden of the White House in WashingtonWASHINGTON (Reuters) - The White House said on Tuesday that President Barack Obama would veto a small business tax cut proposal by Republicans in the House of Representatives that his Democrats complain is biased toward helping the rich. A partisan fight over the bill, which is set to come up for a vote on Thursday, mirrors a wider election-year battle between Obama and his likely Republican challenger Mitt Romney over tax policy and how best to grow the U.S. economy and shrink huge federal budget deficits. ...


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Court says Arizona can demand voter identification
Tue,17 Apr 2012 01:24 PM PDT
Reuters - (Reuters) - A U.S. appeals court on Tuesday upheld Arizona's requirement that voters show identification at the polls, but struck down its requirement that they show proof of U.S. citizenship to register to vote in federal elections. While agreeing that Arizona was within its rights to require identification at voting places, the U.S. Court of Appeals for the Ninth Circuit concluded the national Voting Rights Act, or NVRA, superseded the law's requirement that anyone registering to vote in a federal election show "satisfactory evidence" of U.S. citizenship. ... Full Story
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Senator sees deal soon to renew U.S. Eximbank charter
Tue,17 Apr 2012 01:23 PM PDT
Reuters -

Senators Schumer and Casey talk to the media at the Capitol in WashingtonWASHINGTON (Reuters) - A bipartisan deal to keep the U.S. Export-Import Bank operating past the end of May appears to be in reach despite concerns raised by conservative Republicans and Delta Air Lines that have blocked action so far, a top Democratic senator said on Tuesday. "I am feeling more and more confident that this ill-advised effort to block the Eximbank has run its course and is about to run out of gas. I think we can have a deal sooner rather than later," Senator Charles Schumer said at Senate Banking Committee hearing on the bank's future. ...


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Florida judge in Trayvon Martin case to decide on recusal
Tue,17 Apr 2012 01:21 PM PDT
Reuters -

Zimmerman stands with his attorney O'Mara as he makes his first appearance on second degree murder charges in the shooting death of Trayvon Martin in courtroom J2 at the Seminole County Correctional Facility in SanfordORLANDO, Florida (Reuters) - A Florida judge will decide this week whether to step down from the second-degree murder trial of George Zimmerman, the neighborhood watch volunteer charged in the shooting death of 17-year-old Trayvon Martin. Circuit Judge Jessica Recksiedler disclosed last week that her husband's law partner previously had been contacted by Zimmerman seeking representation. Zimmerman's lawyer, Mark O'Mara, on Monday filed a motion asking Recksiedler to recuse herself. ...


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Top Islamists, Mubarak VP confirmed out of Egypt vote
Tue,17 Apr 2012 01:19 PM PDT
Reuters -

Man walks past a banner publicising the presidential election in CairoCAIRO (Reuters) - Ten Egyptian presidential candidates, including Hosni Mubarak's spy chief, a Muslim Brotherhood leader and an Islamist preacher, lost appeals on Tuesday against disqualification from the race, shaking the political landscape weeks before the historic vote. The disqualifications add to the turbulence of a transition to democracy that has been punctuated by spasms of violence and bitter political rivalries between once-banned Islamists, secular-minded reformists and remnants of the Mubarak order. ...


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Hezbollah chief tells Russian TV tried to mediate in Syria crisis
Tue,17 Apr 2012 01:18 PM PDT
Reuters -

Handout of Wikileaks founder Assange interviews Hezbollah's leader Nasrallah during his MOSCOW (Reuters) - Hezbollah leader Sayyed Hassan Nasrallah told a Russian television channel on Tuesday that his Syria-backed group had tried to act as a mediator in the Syrian conflict but failed to persuade the opposition to come to the negotiating table. Nasrallah made the remarks on the Kremlin-funded English language television station during the first broadcast of a new talk show hosted by WikiLeaks founder Julian Assange. ...


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Romney campaign backs away from Nugent's Obama remark
Tue,17 Apr 2012 01:15 PM PDT
Reuters -

U.S. Republican presidential candidate and former Governor of Massachusetts Romney speaks during the Independence Hall Tea Party Association's Tax Day Tea Summit in Philadelphia, PennsylvaniaWASHINGTON (Reuters) - Republican candidate Mitt Romney's campaign called for civility on Tuesday after aging rock star Ted Nugent made an apparent threat against President Barack Obama before an audience of U.S. gun lobbyists. Nugent told the National Rifle Association convention in St. Louis last week that "If Barack Obama becomes the president in November again, I will either be dead or in jail by this time next year." The Democratic National Committee seized on Nugent's remarks on Monday night in a fundraising email, pointing out how Nugent has endorsed Romney for president. ...


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Conservative group retreats on "stand your ground"
Tue,17 Apr 2012 01:14 PM PDT
Reuters - WASHINGTON (Reuters) - A conservative group under pressure for spreading "stand your ground" self-defense laws in the United States said on Tuesday it is abandoning that part of its work to focus on the economy. The decision by the American Legislative Exchange Council (ALEC) came after a months-long public lobbying campaign that successfully persuaded large U.S. corporations, including the Coca-Cola Co, Kraft Foods Inc and PepsiCo Inc, to cut ties to the organization. ... Full Story
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Government says will deport radical cleric Abu Qatada
Tue,17 Apr 2012 12:58 PM PDT
Reuters -

Abu Qatada is driven from Long Lartin Prison in South LittletonLONDON (Reuters) - Britain re-arrested a radical cleric once described as Osama bin Laden's "right-hand man in Europe" and said on Tuesday it would resume plans to deport him to Jordan, where he has been convicted in his absence of involvement in terrorist plots. Jordanian preacher Abu Qatada had been under virtual house arrest at his family home in London since February, when he was freed from a British prison after a court said his detention without trial was unlawful. ...


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Britain says will deport radical cleric Abu Qatada
Tue,17 Apr 2012 12:55 PM PDT
Reuters -

Jordanian preacher Abu Qatada leaves the Special Immigration Appeals Commission (SIAC) in central LondonLONDON (Reuters) - Britain re-arrested a radical cleric once described as Osama bin Laden's "right-hand man in Europe" and said on Tuesday it would resume plans to deport him to Jordan, where he has been convicted in his absence of involvement in terrorist plots. Jordanian preacher Abu Qatada had been under virtual house arrest at his family home in London since February, when he was freed from a British prison after a court said his detention without trial was unlawful. ...


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Stung by gas prices, Obama seeks new oil market crackdown
Tue,17 Apr 2012 12:51 PM PDT
Reuters -

A motorist pumps fuel into his vehicle at JJ's Express Gas Plus station in Phoenix gas station in PhoenixWASHINGTON (Reuters) - U.S. President Barack Obama, whose political fortunes are threatened by rising gasoline prices, proposed new measures on Tuesday to reduce oil market manipulation that are unlikely to get support from a divided Congress. Obama called on lawmakers to raise civil and criminal penalties on individuals and companies involved in manipulative practices. He also pressed for more money to fund the agency charged with policing the markets to hire "more cops" for oversight and upgrade old technology. ...


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