From Jim Shipman at Britain's The Telegraph:
A bust of the former prime minister once voted the greatest Briton in history, which was loaned to George W Bush from the Government's art collection after the September 11 attacks, has now been formally handed back.
The bronze by Sir Jacob Epstein, worth hundreds of thousands of pounds if it were ever sold on the open market, enjoyed pride of place in the Oval Office during President Bush's tenure.
But when British officials offered to let Mr Obama to hang onto the bust for a further four years, the White House said: "Thanks, but no thanks."
Diplomats were at first reluctant to discuss the whereabouts of the Churchill bronze, after its ejection from the seat of American power. But the British Embassy in Washington has now confirmed that it sits in the palatial residence of ambassador Sir Nigel Sheinwald, just down the road from Vice President Joe Biden's official residence. It is not clear whether the ambassador plans to keep it in Washington or send it back to London.
American politicians have made quoting Churchill, whose mother was American, something of an art form, but not Mr Obama, who prefers to cite the words and works of his hero Abraham Lincoln. Indeed a bust of Mr Lincoln now sits in the Oval Office where Epstein's Churchill once ruled the roost.
Churchill has less happy connotations for Mr Obama than those American politicians who celebrate his wartime leadership. It was during Churchill's second premiership that Britain suppressed Kenya's Mau Mau rebellion. Among Kenyans allegedly tortured by the colonial regime included one Hussein Onyango Obama, the President's grandfather.
The rejection of the bust has left some British officials nervously reading the runes to see how much influence the UK can wield with the new regime in Washington.