United States

United States
Sunday, May 3rd 2009 - 12:10 UTC

US bank failures in four months reach 32 compared to 25 in 2008

Three more United States banks shut their doors Friday, according to the Federal Deposit Insurance Corporation, bringing the total number of failures up to 32 in 2009. The first failure was a wholesale banking operator in Georgia that served 1,400 other lenders across the US, became the fifth biggest bank failure in terms of assets.

Saturday, May 2nd 2009 - 10:13 UTC

US car sales down but “Fusion” helps Ford increase market share

United States car sales continued to struggle in April as cash-conscious consumers remained reluctant to buy new vehicles, and the industry faced turmoil. Chrysler saw a 48% drop in April sales from the same month a year ago, a day after seeking bankruptcy protection.

Friday, May 1st 2009 - 13:05 UTC

New York City police incorporates 40 hybrid patrol cars

The Nissan Altima Hybrids account for 40 of over 100 total hybrid vehicles the Department is expected to deploy this year

New York City Mayor Michael R. Bloomberg and Police Commissioner Raymond W. Kelly deployed on Thursday 40 marked and unmarked Nissan Altima hybrid patrol cars. The cars are part of the mayor's plan to slash city emissions by 30% by 2017.

Friday, May 1st 2009 - 12:43 UTC

Cuba reacts to US blacklisting calls Washington “international criminal”

Cuban Foreign Minister Bruno Rodriguez.

Cuba reacted strongly on Thursday calling the US government an “international criminal” after Washington said it was keeping Cuba on a list of countries that allegedly support terrorism. The US State Department released a report lumping Cuba with Iran, Syria and Sudan on a blacklist as sponsors of terrorism.

Friday, May 1st 2009 - 00:28 UTC

US government “surgical” bankruptcy of Chrysler warning for GM

President Barack Obama said Thursday that Chrysler will file a historic bankruptcy shortly, backed by up to 3.5 billion US dollars in new government aid designed to allow a Chrysler-Fiat partnership to emerge from court in 30 to 60 days.

Thursday, April 30th 2009 - 12:08 UTC

Raul Castro still open to talks with US, but rejects idea of symbolic gesture

Cuban President Raul Castro

Cuban President Raul Castro said Wednesday his country does not need to make any symbolic “gestures” as it pursues better relations with the United States. Addressing the Non Aligned Movement meeting in Havana Castro said he is still willing to talk about all issues and that it was up to the US to make the next move.

Thursday, April 30th 2009 - 05:14 UTC

Over 100 applicants for US Treasury plan to purchase toxic assets

The United States Treasury Department revealed on Wednesday that over 100 applications have been received from firms seeking to manage the government program to help purchase toxic securities from banks. The US government is relying on private investors to purchase poorly performing real estate investments currently weighing on bank balance sheets.

Thursday, April 30th 2009 - 05:11 UTC

US economy contracts 6.1% in first quarter of 2009; exports plunge

Darda: “It's worth noting that consumption was positive and better than expected”

The US economy continued to contract in the first quarter of 2009, led by the biggest fall in exports for 40 years. US GDP contracted at an annualised rate of 6.1% during the quarter, little improvement on the 6.3% fall in the last three months of 2008.

Thursday, April 30th 2009 - 04:44 UTC

Fed sees recession easing and reiterates expansion of money supply

The US Federal Reserve has kept interest rates on hold at its current range of between zero and 0.25% and has suggested the recession may be easing. It also said it would continue with its “quantitative” current approach of purchasing long-term government debt to expand money supply.

Tuesday, April 28th 2009 - 10:54 UTC

US confirms follow up on thaw talks with Cuba

United States diplomats are holding talks with officials of Cuba's diplomatic mission in Washington on possible follow-up measures to steps President Barack Obama took earlier this month to ease restrictions on the island nation.

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