United States

At least six large US banks need more capital

At least six large US banks need more capital New York - At least six of the 19 largest US banks need more capital to remain healthy through the recession, according to leaked information from the two-month stress test carried out by the nation's bank regulators, Bloomberg financial news service reported Wednesday.

The infusions could come from extra cash injections from the government, but more likely from converting preferred shares to common equity, the report said, citing people close to the situation.

Obama marks 100 days by touting steps on economy

Obama marks 100 days by touting steps on economyWashington  - US President Barack Obama marked 100 days in office by citing the progress his administration has made in tackling the nation's economic problems but cautioned that more needed to be done.

"Now, after a hundred days, I am pleased with the progress we've made, but im not satisfied," Obama said at a townhall meeting Wednesday in Arnold, Missouri.

Obama touted his massive economic recovery plan to rescue the United States from its worst recession in decades, brought on by the crisis in the housing and finance markets.

Swine flu suspected of inflicting Marine

Swine flu suspected of inflicting MarineWashington - A US Marine is suspected of having contracted swine flu and has been quarantined at his base in California, the service said Wednesday.

The soldier and his roommate have been confined to their quarters for further evaluation, Marine Commandant General James Conway told reporters at the Pentagon. The roommate is not showing any symptoms, the general said.

The soldier sought medical attention on Saturday suffering from flu symptoms, Conway said.

"He was tested. The initial tests are that he is suspected to have the flu," Conway said.

US special envoy arrives in Saudi Arabia

US special envoy arrives in Saudi ArabiaRiyadh  - Dennis Ross, US President Barack Obama's special envoy to the Gulf and Southwestern Asia, on Wednesday arrived in Saudi Arabia at the start of his first tour of the region since taking office, the Saudi official news agency reported.

The official Saudi Press Agency (SPA) said that Ross met with the Saudi Foreign Minister Prince Saud al-Faisal, and that the two discussed "bilateral relations and regional issues of mutual concern."

Time Warner profit drops 14 per cent

Time Warner profit drops 14 per centNew York  - Profits at Time Warner media enterprise dropped 14 per cent in its fiscal first quarter as revenues were hit by an advertising slump and lower sales of DVDs.

The world's largest media company said that it earned 661 million dollars compared to 771 million dollars in the same quarter a year ago.

Revenue fell 7 per cent to 6.95 billion dollars. However the financial results beat Wall Street's expectations and the company's shares rose sharply in early trading Wednesday.

US increasing troops to halt Taliban’s main source of money

US increasing troops to halt Taliban’s main source of moneyNew York, Apr 29: The United States is increasing its troops in Helmand, Kandahar and Zabul provinces in order to cut off the Taliban’s main source of money, Afghanistan’s multimillion-dollar opium crop.

The plan to send 20,000 marines and soldiers into these three Afghan provinces this summer promises weeks and perhaps months of heavy fighting, since American officers expect the Taliban to vigorously defend what makes up the economic engine for the insurgency, The New York Times reports.

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