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United States saw its deficit narrow to 26 billion US dollars in May, its lowest level in more than nine years, according to figures from the Commerce Department. Imports continued to fall while exports increased, pushing the deficit to its lowest level since November 1999.
General Motors (GM) says it has emerged from bankruptcy protection after creating a new GM made up of the carmaker's best assets. GM chief executive Fritz Henderson said it was the beginning of a new era.
United States President Barack Obama and Brazilian President Lula da Silva took time out from their overloaded Thursday agendas to talk about the United States' defeat to Brazil in last month's Confederations Cup Final played in South Africa.
United States widely respected investor and financial wizard Warren Buffet said on Thursday unemployment in the US could reach 11% and a second stimulus package could be needed to pull the world’s largest economy out of recession.
US Secretary of State Hillary Clinton is in favour of an adequate protection to the media in Venezuela, as well as in other countries. The US top diplomat considered that the freedom of expression and freedom of the press are fundamental values for democracy.
A United States regulator is to hold hearings to decide whether it should clamp down on speculation in the energy market.
The level of people falling behind with consumer loans in the US hit a new high in the first three months of 2009, the American Bankers Association said. Rising unemployment was behind the missed payments, it suggested.
A large crowd was drawn to New York's Highline Ballroom for the VI Encuentro of Colombian Musicians. This annual music and dance gathering of Colombian musicians in New York, brought together a marathon of 20 of NYC’s most renowned Colombian bands, celebrating the diverse Colombian genres of cumbia, currulao, vallenato, joropo, bambuco, pasillo, and other diverse rhythms, all originally from Colombia.
United States bank regulators closed seven institutions this week including six banks in Illinois controlled by one family and a small bank in Dallas, bringing the total number of US bank failures to 52 so far this year. (This compares with 25 in 2008 and 3 in 2007).
The number of jobs lost in the US last month came in at 467,000, which was much more than had been expected. The jobless rate rose to 9.5% in June, from 9.4% in May, as the US economy continued to struggle.