News from The Associated Press

Bernanke: Economy Faces 'Numerous Difficulties'

July 15th, 2008
By The Associated Press
Federal Reserve Chairman Ben Bernanke told Congress Tuesday the fragile economy is facing "numerous difficulties" despite the Fed's aggressive interest rate reductions and other fortifying steps. At the same time, Bernanke, testifying before the Senate Banking Committee, sounded another warning that rising prices for energy and food are elevating inflation risks. This problem looms even as officials try to cope with persistent strains in financial markets, rising joblessness and housing problems. Read More

Obama Tells NAACP Blacks Must Take Responsibility

July 14th, 2008
By The Associated Press
Democrat Barack Obama received a prideful welcome from the annual NAACP convention Monday night, but in a stirring speech to the nation's oldest civil rights organization, he nonetheless insisted blacks must show greater responsibility for improving their own lives. The man who could become the first black president urged Washington to provide more education and economic assistance. He called on corporate America to exercise greater social responsibility. But he also received his most lusty applause as he urged blacks to demand more of themselves. Read More

Bush Lifts Oil Drilling Ban, Wants Congress to Act

July 14th, 2008
By The Associated Press
President Bush on Monday lifted an executive ban on offshore oil drilling and challenged Congress to follow suit, aiming to turn the enormous public frustration about gasoline prices into political leverage. Democratic lawmakers rejected Bush's plan as a symbolic stunt. With gas prices topping $4.10 a gallon nationally, Bush made his most assertive move to extend oil exploration, an energy priority of his presidency. By lifting the executive prohibition against coastal drilling, Bush rescinded a White House policy that his own father put in place in 1990. Read More

Iran Test-Fires More Missiles in Persian Gulf

July 10th, 2008
By The Associated Press
Iran test-fired more long-range missiles overnight in a second round of exercises meant to show that the country can defend itself against any attack by the U.S. or Israel, state television reported Thursday. The weapons have "special capabilities" and included missiles launched from naval ships in the Persian Gulf, along with torpedoes and surface-to-surface missiles, the broadcast said. It did not elaborate. Read More

Bush Signs New Rules on Government Wiretapping

July 10th, 2008
By The Associated Press
President Bush signed a bill Thursday that overhauls rules about government eavesdropping and grants immunity to telecommunications companies that helped the U.S. spy on Americans in suspected terrorism cases. He called it "landmark legislation that is vital to the security of our people." Read More

Dry, Hot Weather Threatens California Fire Gains

July 8th, 2008
By The Associated Press
Firefighters on Tuesday faced worsening weather conditions that pushed flames across firebreaks in parts of inland California and chased residents out of one small community. Along the coast, however, an evacuation order was lifted for a lengthy section in the scenic Big Sur area. Read More