Washington  - US consumer confidence slid to a new low in February as the world's largest economy continues to battle recession, a private research group said Tuesday.

The New York-based Conference Board said its index of consumer confidence fell to 25.0 in February from 37.4 in January.

The survey of 5,000 households found that the majority of respondents (51.1 per cent) believe business conditions are bad, up from 47.9 per cent last month. About 48 per cent of respondents said jobs were hard to get, up from 41 per cent in January.

Washington  - US President Barack Obama on Monday promised to halve the country's ballooning federal budget deficit by the end of his four-year term in office, despite a deepening recession that has forced his administration to spend record amounts of money.

Obama, who took office in January, inherited a 2008 budget deficit of 1.3 trillion dollars. That figure could top 2 trillion dollars - more than 10 per cent of US gross domestic product - in 2009 in an effort to halt the country's disastrous economic slide.

Washington  - US President Barack Obama on Monday promised to cut the federal budget deficit more than half by the end of his four- year term in office, despite a deepening recession that has forced the government to spend record amounts of money.

Obama, who took office in January, inherited a 2008 budget deficit of 1.3 trillion dollars. That figure is expected to top 2 trillion dollars - more than 10 per cent of US gross domestic product - in 2009 as the country confronts a massive economic crisis.

Brussels - The European Union flirted with chaos Monday as top diplomats complained about a "cliquey" response to the recession and failed to agree on the use of community funds to aid economic recovery.

"I must admit I'm extremely worried about the EU's institutional chaos. Never in the EU's history has there been a period like this with so many cliques," Finnish Foreign Minister Alexander Stubb said after regular talks in Brussels with his EU counterparts.

Cairo - Refaat al-Sheikh, like many of the shop owners in Cairo's Medieval Khan al-Khalili bazaar, on Monday sat idly on a wooden chair in front of his shop with a sad look on his face.

"The situation is as you can see," he told Deutsche Presse-Agentur dpa, gesturing at normally bustling market streets now populated mostly by police and journalists.

"First the financial crisis, and now this bomb?"

Brussels  - The European Union flirted with chaos Monday as top diplomats complained about a "cliquey" response to the recession and failed to agree on the use of community funds to aid economic recovery.

"I must admit I'm extremely worried about the EU's institutional chaos. Never in the EU's history has there been a period like this with so many cliques," Finnish Foreign Minister Alexander Stubb said after regular talks in Brussels with his EU counterparts.