US President Obama reception in Europe

April 9, 2009

At the end of Obama’s press conference following the Group of 20 Summit last Thursday, a large crowd of journalists did something journalists never do: they gave a politician a standing ovation.

In a week that began with a flurry of meetings between the US and his counterparts from , Russia, India, , Britain and others, and ends with Saturday’s summit, the media’s uncharacteristic behavior might easily be forgotten. However, it will likely linger because it matched a sincere response over and above the supplication shown towards any occupant of the by the leaders of the G-20 countries.

The same cerebral and low-key approach used by Obama in dealings with fellow leaders came out in often lengthy, but nuanced, answers to questions. “He actually answered the questions he was asked,” says one startled Asian reporter. Obama he is being accorded high ratings from almost every quarter barring his conservative critics in the . In part, this comes because of the contrast Mr Obama strikes with the widely derided . Partly it has been prompted by the celebrity cult the new leader has generated in the US. But most of all, it is about Mr Obama’s unusual approach to foreigners. “I have come to listen, not to lecture,” he said several times this week.

Much of the time he appeared to mean it. The least expected endorsement came from Russia’s , who until he met Obama had developed a taste for rubbing Americans the wrong way. But last Wednesday the Russian unexpectedly invited him to visit this July, observing that ’s warm weather that month would reflect the new warmth in US-Russian relations, Mr said: “After this meeting, I am far more optimistic about the successful development of our relations and would like to thank Obama for this opportunity.” Mark-to-Market Rule Gives More Clarity

Popularity: 5% [?]

US President Obama to lift stem cell research limits

March 15, 2009

Barack is poised to sign an executive order on Monday lifting restrictions on federal funding for human embryonic stem cell research. The move comes almost eight years after George W. , the former president, imposed strict limits that critics said hindered medical research and hurt US science.

Stem cell research is fiercely opposed by some religious groups because it involves the destruction of human embryos. But scientists and health activists argue it could reveal treatments for conditions ranging from diabetes to Parkinson’s disease. Under Mr. ’s restrictions, funding was allowed only for a relatively small number of existing cell lines to prevent taxpayer money being used to destroy additional embryos.

The announcement marks the latest in a series of early steps by the president to roll back his predecessor’s legacy. Some science advocates had grown nervous about why the stem cell research ban was not overturned in the first wave of announcements but the issued assurances that it was coming soon. Mr. has already thrilled the science community by appointing Steven Chu, a Nobel prize-winning physicist, as energy secretary, and reversing the administration’s skeptical attitude towards climate change.

However, the stem cell ruling threatens to alienate evangelical at a time when Mr. is facing mounting partisan opposition from the right.

Popularity: 6% [?]

Oil prices tumble after US rescue plan unveiled

February 20, 2009

Crude Oil prices fell alongside the broader markets last week on the limited details released about a Treasury Department program to raise more than US$1T in public and private funds to free up . The Dow Jones industrials lost 400 pts after Treasury Secretary Timothy Geithner announced the rescue plan last Tuesday, and light, sweet crude for March delivery sank by US$2.01 bbl to settle at US$37.55bbl on the Mercantile Exchange. US Barack Obama’s US$838B economic recovery plan, which was approved by the US Senate did little to reverse Crude Oil’s downturn. Phil Flynn, an analyst at Alaron Trading Corp., said investors appear concerned about the inflationary effects of massive government spending.

Popularity: 6% [?]

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