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Shares rise and oil prices jumped 9% after revised figures showed the US economy grew by far more than had been thought between April and June. The economy grew by an annualized rate of 3.7%, up from the first estimate of 2.3%. Growth of 0.6% in the first three months of the year was not revised.
The US has announced sanctions against four alleged members of Colombia's Farc rebel group, accusing them of drug trafficking and money laundering. The four men used a shop in Switzerland as a front for their activities, the US treasury department said. It says the Farc still use drugs to fund their “ruthless operation”.
Shares on Wall Street finished with their biggest rise in four years ending another rocky day of trading on global markets. The mood was lifted by comments from US Federal Reserve official William Dudley that a rate rise in September seemed less compelling.
The U.S. National Oceanic and Atmospheric Administration (NOAA) has declared the recent deaths of 30 large whales in the western Gulf of Alaska an unusual mortality event, triggering a focused, expert investigation into the cause. An unusual mortality event is a stranding event that is unexpected, involves a significant die-off of a marine mammal population and demands immediate response.
California's Department of Water Resources released a new NASA report showing land in the San Joaquin Valley is sinking faster than ever before, nearly 5 centimeters per month in some locations, as Californians continue pumping groundwater in response to a historic drought.
An improving job market edged the US Federal Reserve closer to an interest rate hike at its July meeting even as policymakers continued to express broad concerns about lagging inflation and the weak state of the world economy, according to minutes released on Wednesday.
The US Food and Drug Administration (FDA) has approved a libido-enhancing drug for women that has been dubbed Female Viagra. Flibanserin, a drug produced by Sprout Pharmaceuticals, recently passed an FDA advisory committee meeting.
American Airlines which has operated charter flights to Cuba since 1991, said on Tuesday that it plans to begin charter services between Los Angeles and Havana on Dec. 12. But by that time, the U.S. and Cuban governments may be ready to allow scheduled airline flights between the two countries, a practice not allowed for more than a half-century.
Nine banks have agreed to pay 2 billion dollars in settlements to US investors over claims they rigged foreign exchange rates, according to lawyers. They are taking action on behalf of investors, including hedge funds and pension funds, who accuse banks of conspiring to manipulate rates.
US Secretary of State John Kerry declared a new era in relations as he celebrated restored diplomatic ties in Havana on Friday, but he also urged political change in Cuba, telling Cubans they should be free to choose their own leaders.