Obama offers $3.6 trillion deficit plan, would up taxes
President Barack Obama laid out a $3.6 trillion plan on Monday to cut budget deficits partly by raising taxes on the rich, but Republicans rejected it as a political stunt and made clear the proposal had little chance of becoming law.
Britain is to sue the European Central Bank for setting rules that allegedly handicap the City of London and would force one of the world's largest clearing houses to decamp operations to the euro area.
Britain's banks face some of the world's toughest regulations under reforms outlined on Monday, which require them to insulate their retail lending activities and store up billions in extra capital at a cost of up to 7 billion pounds ($11 billion).
Obama confronts jobs "crisis" with $447 billion plan
President Barack Obama challenged Congress on Thursday to enact a $447 billion package of tax cuts and new spending to revive a stalled job market but he faces an uphill fight to win over Republicans and restore public faith in his economic stewardship.
Iran's first nuclear power plant has finally begun to provide electricity to the national grid, official media reported on Sunday, a long-delayed milestone in the nuclear ambitions of a country the West fears is covertly try to develop atomic bombs.