Obama blocks Chinese purchase of U S wind farms near Navy base
President Barack Obama ordered Ralls Corp to divest its stake in four wind farm projects in Oregon near the Naval Weapons Systems Training Facility at Boardman. CFIUS cited national security risks and recommended action. This marks the first such presidential blocking in 22 years and comes amid campaign scrutiny of U.S.–China economic tensions.
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Postal Service near default amid Congress delay
The U S Postal Service warns it will miss a 5.6 billion payment to the Treasury, its second default in as many months, as Congress stalls on a postal reform package. Postmaster General Patrick Donahoe says viability rests on congressional action after cost cuts and retiree health benefits payments. He notes about 15 billion in projected losses this year with five day delivery blocked by lack of savings and approval, though cash lows may dip next month before temporary fixes, and warns of no further easy options without approval.
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Candidates shift focus to raising funds
In Philadelphia and Boston Romney and Obama concentrated on private fundraisers and big checks ahead of Election Day. Romney told donors at Union League Club that winning Pennsylvania would be a surprise, while Obama stayed near Washington with three fundraisers. The day underscored money as the main driver before the first presidential debate.
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