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A well connected to an oil and gas production platform caught on fire in the Gulf of Mexico Thursday, engulfing the vessel in flames about 100 miles off the central coast of Louisiana and forcing 13 people overboard, Gov. Bobby Jindal said.
United States Federal Reserve will buy up more debt if the outlook worsens appreciably, minutes from its August meeting have revealed. The central bank preferred to purchase US government bonds, but did not rule out buying further mortgage debts.
US government has decided to drop a general investigation of China's currency policy, avoiding a major trade dispute. However the department ruled that more than $500m of aluminium imports had been unfairly subsidised. The US will retaliate with duties of up to 137% on the relevant products.
US economic growth slowed more sharply than initially thought in the second quarter, held back by the largest increase in imports in 26 years, a government report showed. GDP expanded at a 1.6% annual rate, the Commerce Department said, instead of 2.4% percent pace it had estimated last month.
Federal Reserve Chairman Ben Bernanke said the economic recovery has softened more than expected and the Fed is ready to take further steps if needed to spur the stumbling economy.
The Empire State Building has dominated the New York City skyline for a number of years since it was first built and it has become one of the top tourist destinations in the city. The building is now set to become second best however as a new building has been approved in New York city that will dominate the skyline and make the Empire State Building lose out.
Sales of existing homes in the US plunged 27.2% in July compared with June to their lowest level in more than 10 years, figures suggest. Home sales completed in the month stood at an annualised rate of 3.83 million, according to the National Association of Realtors (NAR).
United States Under Secretary of State for Public Diplomacy and Public Affairs Judith A. McHale will travel to Argentina, Uruguay, and Chile August 24 - September 2, her first visit to the region since been nominated to the post.
Claims for United States jobless benefits jumped to the highest level since November and Philadelphia-area manufacturing shrank for the first time in a year, indicating the US economy may be slowing faster than forecast.
President Barack Obama has said an over-supply of homes is hindering the US economic recovery. Obama also said the US had to find a way to curb its budget deficit without further slowing economic growth.