United States

United States
Thursday, February 4th 2010 - 16:24 UTC

Currency unions do not survive “without fiscal and political union”

New York University professor Nouriel Roubini, or “Dr. Doom”

The New York University professor who anticipated the financial crisis cautioned about the Greek situation and the Euro zone saying history indicates that no currency union has survived without a strong fiscal and political union.

Tuesday, February 2nd 2010 - 04:50 UTC

Obama budget proposal has record deficit of almost 11% of GDP

It includes 100 billion USD for job creation

United States President Obama's new budget proposal is set to leave the US with a record-breaking deficit of 1.56 trillion US dollars. The figure is almost 11% of the country’s GDP. Economists generally consider annual deficits of more than 3% to be unsustainable.

Saturday, January 30th 2010 - 08:21 UTC

US economy rebounds 5.7% in last quarter but overall 2009 was down 2.4%

White House economist Christina Romer: “There will surely be bumps in the road ahead”

The world's largest economy is back in business after growing 5.7% at the end of last year, smashing all expectations. It was the quickest pace of economic expansion in the United States for six years.

Friday, January 29th 2010 - 22:54 UTC

Around the world of music in one night, where the Latinos took front stage!

Brooklyn Qawwali Party's soundcheck from the balcony at Webster Hall's Grand Ballroom

GlobalFEST, an annual world music festival held every January in New York City is a smashing night of musical discovery where artists from all over the world springboard themselves into the world music scene in New York.

Friday, January 29th 2010 - 11:59 UTC

Bernanke reappointed but “Main Street America” is not satisfied

The chairman with the Senate’s narrowest victory margin in decades

Ben Bernanke has been approved to serve a second four-year term as chairman of the US Federal Reserve, the country's powerful central bank. The US Senate voted 70-30 in favour of Mr Bernanke, handing him the narrowest victory margin in decades.

Friday, January 29th 2010 - 01:52 UTC

Obama promises jobs and admits a “deficit of trust” by the US people

“I do not accept second place for the US”, said Obama

US president Barack Obama promised to make job creation his top priority as he made his first State of the Union address. Obama forecast the creation of 1.5 million jobs through the 'stimulus bill' in the nationally televised speech Wednesday evening to a joint session of Congress.

Thursday, January 28th 2010 - 14:09 UTC

NASA surveillance flights to anticipate quakes in Haiti

According to Haiti authorities as many as 200.000 people were killed two weeks ago (AP)

US space agency NASA will send surveillance flights over Haiti and the Dominican Republic to look for signs that more earthquakes may hit the area after a giant quake that killed as many as 200,000 people two weeks ago.

Thursday, January 28th 2010 - 13:55 UTC

Fed leaves rates unchanged but will begin to wind down liquidity programs

Kansas City Fed president Thomas Hoenig, the dissenting voice

The Federal Reserve said on Wednesday that the U.S. economic activity has continued to “strengthen” and decided to keep a key interest rate unchanged at a record low of between zero to 0.25% to prop up the economy. However there was a dissenting vote.

Thursday, January 28th 2010 - 13:43 UTC

Soros backs Obama’s proposals to limit size of banks

The legendary financer said major economies would have to agree on a common set of financial regulation (AP)

Legendary investor George Soros has called for a radical break-up of banks that are “too big to fail”. He also backed US President Barack Obama's proposed reforms to limit the size of banks at the World Economic Forum in Davos.

Thursday, January 28th 2010 - 05:37 UTC

US teenagers aged 16 to 19 unemployment stands at 26%

One out of five US black men, aged 20 to 24, out of a job and of school

The United States economic recession has taken a particularly heavy toll on young US citizens, with a record one out five black men aged 20 to 24 neither working nor in school, according to research released.

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