Powell not ready to endorse Obama for re-election

Former Secretary of State Colin Powell declined Tuesday to renew the presidential endorsement he gave Barack Obama four years ago, saying he wasn't ready "to throw my weight behind someone" at this time.

Obama stands by hits on Romney's Bain Capital days

President Barack Obama on Monday defended his criticism of presumptive Republican presidential Mitt Romney's ties to the private equity firm Bain Capital, saying it was rightly part of the campaign debate because Romney himself was emphasizing his business background.

Italy frees up to $38BN to pay overdue bills

The Italian government is to free up to €30 billion ($38.25 billion) to make overdue payments to businesses that have supplied goods or services to state institutions.

Brad Pitt brings 'Killing Them Softly' to Cannes

Brad Pitt has arrived in Cannes with a hardboiled crime film featuring heavy doses of President Barack Obama and a backdrop of the economic crisis.