VENTURE CAPITAL POST

U.S. President Barack Obama will call on Congress to expand protection of Alaska's Arctic refuge where oil and gas drilling is prohibited to 12 million acres (5 million hectares), an area that includes 1.4 million oil-rich acres along the coast.

President Barack Obama's State of the Union address will propose closing multibillion-dollar tax loopholes used by the wealthiest Americans, imposing a fee on big financial firms and then using the revenue to benefit the middle class, senior administration officials said on Saturday.

Supporters and critics of free trade are readying for a bitter battle this year over major free trade deals and legislation to fast-track trade agreements through the U.S. Congress.

Washington state Governor Jay Inslee on Thursday proposed a new tax on capital gains to try to close a projected budget shortfall of more than $2 billion, rolling back on a no-new-taxes campaign pledge.

President Barack Obama on Wednesday laid out a business-friendly legislative agenda for next year that hinges on whether he and the new Republican Congress can set aside long-simmering disputes and find common ground.

The Republican-led U.S. House of Representatives approved the Keystone XL pipeline on Friday, but a similar measure struggled to get enough support in the Senate and President Barack Obama indicated he might use his veto if the bill does get through Congress.

With Congressional election results so far confirming expectations, a Republican takeover of the U.S. Senate will likely deal investors a result that could have a direct effect on the energy sector and other slices of the equities market.

Long viewed as an ally by Wall Street, likely 2016 presidential contender Hillary Clinton has increasingly been taking banks and big business to task while on the campaign trail for Democrats across the country.