United States

United States
Friday, August 28th 2015 - 07:06 UTC

US economy 2Q performance changes the mood of markets

US economy growth overall was due to strong consumer and government spending, and higher exports, besides greater corporate investment.

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.

Friday, August 28th 2015 - 06:50 UTC

US Treasury sanctions Farc members operating from Switzerland

The four men used a shop in Switzerland as a front for their activities, the US Treasury. It says the Farc still use drugs to fund their “ruthless operation”.

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”.

Thursday, August 27th 2015 - 04:28 UTC

Wall Street rebounds 4%, but European markets still fearful of China

The Dow Jones closed up 3.97% at 16,285.64. Earlier, European stock markets lost ground again as fears persist of a China-led economic downturn.

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”.

Wednesday, August 26th 2015 - 06:12 UTC

US NOAA to investigate whale stranding as an “unusual mortality event”

Since May 2015, 11 fin whales, 14 humpbacks, one gray whale and four unidentified cetaceans have stranded around islands of western Gulf of Alaska

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.

Friday, August 21st 2015 - 06:17 UTC

California sinking as pumping groundwater continues in response to historic drought, says NASA

“Because of increased pumping, groundwater levels are reaching record lows -- up to 30 meters lower than previous records,” said Mark Cowin.

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.

Thursday, August 20th 2015 - 06:38 UTC

Fed approaching interest rate hike but 'reasonable confidence' still short

Most Fed policymakers “judged that the conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point”

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.

Wednesday, August 19th 2015 - 07:30 UTC

US approves a libido-enhancing drug for women, to be marketed as “Addyi”

The pill is designed to assist premenopausal women regain their sex drive by boosting levels of certain brain chemicals, but the drug has been criticized

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.

Wednesday, August 19th 2015 - 07:02 UTC

American Airlines charters to Cuba from Los Angeles next December

There are dozens of flights each week between Cuba and the U.S., but they are all charter flights.

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.

Monday, August 17th 2015 - 08:16 UTC

Nine banks agree to pay US$2bn to investors over rigged foreign exchange rates

The banks include HSBC, Barclays, BNP Paribas, Bank of America, JP Morgan, Citibank, Goldman Sachs, RBS and UBS.

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.

Saturday, August 15th 2015 - 08:33 UTC

Kerry calls for a new era in relations with Cuba, but also urged political change

The first US secretary of state to visit the Caribbean island in 70 years, Kerry presided over a ceremony raising the US flag over the newly reopened embassy.

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.

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