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Barack Obama

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  • NEW YORK, Dec 17- The S&P 500 scored its best day since October 2013 on Wednesday as the Federal Reserve gave an upbeat assessment of the economy and said it would take a patient approach toward lifting interest rates. "This is the market saying,' Ah, I get it,' the Fed does not want to be in the business of disruption, this is a steady monetary policy and the Fed will continue...

  • The United States' commercial ties with Cuba were broken 54 years ago after Fidel Castro took power on the Caribbean island. Now U.S.- Cuba trade is poised to resume at last: President Barack Obama on Wednesday announced plans to re-establish diplomat relations with Havana, and economic ties are expected to follow. Gary Hufbauer and Barbara Kotschwar of the...

  • HAVANA/ WASHINGTON, Dec 17- President Barack Obama announced the United States would restore diplomatic relations it severed with Cuba more than 50 years ago, drawing resistance from lawmakers opposed to reconciling with the communist-run island. Obama said the moves were made possible by Havana's release of American Alan Gross, 65, who had been imprisoned...

  • Dec 17- The United States move to normalize relations with Cuba could pave the way for Sherritt International Corp to export nickel and cobalt to one of the biggest markets in the world, the miner's Chief Executive David Pathe told Reuters. Sherritt shares jumped as much as 36 percent on Wednesday after President Barack Obama moved to thaw a five-decade freeze...

  • WASHINGTON, Dec 17- The renewal of full diplomatic relations between the United States and Cuba could be the start of a long thaw in decades of animosity but the path is full of obstacles, not least the U.S. sanctions on the Communist-run island. Only Congress can overturn the law, and with Republicans due to take control of both the House of Representatives and the...

  • NEW YORK, Dec 17- U.S. stocks were up more than 1 percent in Wednesday afternoon trading as the Federal Reserve gave an upbeat assessment of the economy and said it would take a patient approach toward lifting interest rates, a view that investors embraced. Stocks extended sharp gains following the statement but pared some of that increase heading into the close...

  • Senator Robert Menendez said on Wednesday that President Barack Obama's shifts on Cuba policy were intended to circumvent U.S. law. "Today's regulatory changes... are clearly intended to circumvent the intent and spirit of U.S. law and the U.S. Congress," Menendez said in a statement issued after Obama announced that the United States will restore diplomatic...

  • White House does not rule out Cuba visit by Obama Wednesday, 17 Dec 2014 | 2:29 PM ET

    President Barack Obama does not have concrete plans to visit Cuba after restoring diplomatic relations with Havana, but a White House spokesman said on Wednesday he would not rule out a presidential visit. "If there is an opportunity for the president to visit, I'm sure he wouldn't turn it down," White House spokesman Josh Earnest told reporters.

  • After 53 years, time is right for US and Cuba Wednesday, 17 Dec 2014 | 2:21 PM ET

    MEXICO CITY— After 53 years of hostility between the United States and Cuba, the timing to make amends was perfect for both governments. The surprise moves come as President Barack Obama is turning his attention to legacy issues, and Raul Castro is trying to boost his nation's economic fortunes in the face of stalled reforms and falling oil prices that have hit...

  • CHICAGO, Dec 17- The normalization of diplomatic relations between the United States and Cuba is an "important opportunity" for U.S. agriculture that will make exports of U.S. farm goods cheaper, easier and less time consuming for shippers, U.S. Department of Agriculture Secretary Tom Vilsack said on Wednesday. President Barack Obama announced on Wednesday that...

  • NEW YORK, Dec 17- A tiny mutual fund based in Miami, a clutch of cruise line operators and a Canadian natural resources company are the early winners in the Obama administration's surprise move on Wednesday to thaw relations with Cuba. While the Cuban economy is small, with gross domestic product of roughly $70 billion, according to the World Bank, comparable to...

  • Announcing the end of what he called a "rigid" policy of isolation of Cuba that had been ineffective, Obama said the United States would move toward normal ties and would open an embassy in Cuba. Castro spoke in Cuba as Obama made his announcement on a policy shift made possible by the release of American Alan Gross, 65, who had been imprisoned in Cuba for five years.

  • WASHINGTON, Dec 17- The renewal of full diplomatic relations between the United States and Cuba could be the start of a long thaw in decades of animosity but the path is full of obstacles, not least the U.S. sanctions on the Communist-run island. Only Congress can overturn the law, and with Republicans due to take control of both the House of Representatives and the...

  • *FedEx shares fall after earnings. NEW YORK, Dec 17- U.S. stocks climbed in early afternoon trading on Wednesday as energy sector shares surged more than 4 percent, though investors were preparing for a Federal Reserve statement that may set the stage for interest rate hikes in 2015.. "Volatility should be expected after the statement because so much is riding on...

  • Announcing the end of what he called a "rigid" policy of isolation of Cuba that had been ineffective, Obama said the United States planned to move toward normal ties and would open an embassy in Cuba. Castro spoke in Cuba as Obama made his announcement on a policy shift made possible by the release of American Alan Gross, 65, who had been imprisoned in Cuba for five...

  • Obama-Castro: Has 'the fever' broken? Wednesday, 17 Dec 2014 | 12:27 PM ET
    Calle Ocho in Little Havana, Miami.

    Obama's move to normalize relations with Havana is raising the promise in South Florida that it will finally open up Cuba's economy.

  • Obama: time to boost travel, commerce with Cuba Wednesday, 17 Dec 2014 | 12:23 PM ET

    WASHINGTON— President Barack Obama says his changes to U.S. policy with Cuba will make it easier for Americans to travel to Cuba, and to use their credit and debit cards in the country. Obama also says that more resources should be able to reach the Cuban people, so he's significantly increasing the amount of money that people in the U.S. can send to them.

  • Cuba-US talks to boost travel?  Wednesday, 17 Dec 2014 | 12:22 PM ET

    Insight to the business impact once the U.S. eases travel restrictions with imports from Cuba, with CNBC's Michelle Caruso-Cabrera.

  • President Obama announced new policies regarding U.S. relations with Cuba. CNBC's John Harwood provides insight to Obama's remarks.

  • Russia on the brink of financial crisis: Dallara Wednesday, 17 Dec 2014 | 12:15 PM ET
    A board lists foreign currency rates against the Russian ruble outside an exchange office in central Moscow on Dec. 17, 2014.

    The Russian currency crisis could turn into a broader economic crisis that could spill over to key emerging markets, Charles Dallara said.