United States
United StatesFree fall: US shares down to lowest since October 1997
US shares have fallen sharply on concerns about the government's latest attempts to shore up the banks. The Dow Jones Industrial Average on Monday closed down 250.9 points, or 3.41%, at 7,114.8, its lowest since October 1997.
Influential Senator admits US embargo against Cuba “failed”
The US economic embargo on Cuba “has failed” and should be re-evaluated, senior Republican Senator Richard Lugar argues in a report.
Message to Beijing: keep investing in US Treasury bonds
United States Secretary of State Hillary Clinton offered a quiet nod to human rights but there was no mistaking her key message to Beijing at the end of her week-long in Asia: both countries will “rise and fall” together in this financial crisis.
Scathing attack on banking practice from Soros and Volcker
Investor George Soros and President Barack Obama advisor, Paul Volcker described the current global meltdown as more severe than when the great Depression with the financial system effectively disintegrated and with the experts “not quite knowing what's going on”.
Hollywood: Slumdog Millionaire' Wins Eight Oscars
British film Slumdog Millionaire, the widely acclaimed film set in the slums of Mumbai, has received eight awards at this year's Oscars - including best picture and best director.
FBI tracks Sir Allen Stanford and finds him in Virginia
Virginia have served Texan billionaire Sir Allen Stanford with civil legal papers from the US financial watchdog, the SEC.
Obama unveils plan to rescue responsible homeowners
President Barack Obama has revealed a long-awaited plan to tackle the US housing crisis, aiming to help up to nine million families. The plan will provide refinancing to four to five million “responsible homeowners” on the verge of defaulting.
Suggestions of more ECB/Fed exchange rate cooperation
Robert Mundell, the Nobel Laureate whose research helped set the foundation for the creation of the Euro, said the US and Europe should cooperate to prevent exchange-rate swings from worsening the global recession.
US trade deficit in December falls to a record low 39 billion
The US trade deficit fell to the lowest level in nearly six years in December as the recession depressed demand for imports. US Commerce Department said Wednesday that the deficit in December fell 4% to 39.9 billion US dollars from 41.6 billion in November.
US federal budget 2009 shortfall could reach one trillion
The US budget deficit widened more than economists forecast in January as spending soared and corporate tax receipts shrank, putting the Treasury on course for a record annual shortfall of more than one trillion USD.
