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United States economic activity weakened in March, but there were some signs of stabilisation, the Federal Reserve said in its influential Beige Book. The report, used to set US interest rates, said overall economic activity contracted further or remained weak.
General Growth Properties, United States second-largest shopping mall owner filed for Chapter 11 bankruptcy protection on Thursday after failing to reach an out of court consensus on how to restructure its 27 billion US dollars debt. The Chicago based corporation which owns more than 200 malls in 44 states said shoppers at its malls will not be affected by its bankruptcy filing.
United States consumer prices fell in March and recorded their first annual drop in more than half a century, according to official figures from the Labour Department. The consumer price index fell 0.1% last month after energy prices declined. In February prices had risen 0.4%.
United States president Barack Obama wishes to meet with his peers from the Union of South American Nations, UNASUR next Saturday on the sidelines of the fifth Summit of the Americas in Trinidad Tobago.
Former Cuban leader Fidel Castro said on Tuesday Cuba had no desire to rejoin the “infamous” and “vile” decadent Organization of American States, and said the coming Summit of the Americas next week end in Trinidad Tobago will be “a test of intelligence and shame”.
United States President Barack Obama heads to Mexico Thursday and then continues on to Trinidad and Tobago for the fifth Summit of the Americas. Security concerns along the US-Mexico border are expected to top Mr. Obama's discussions with Mexican President Felipe Calderon, while the summit provides an opportunity to reinvigorate the US hemispheric ties and forge a regional response to the global economic downturn, according to a Voice of America report.
Shares of Miami-based cruise operator Royal Caribbean jumped on Monday on news that the administration of President Barack Obama was allowing Cuban Americans to travel more freely to the Castro-family ruled island.
President Barack Obama has decided to loosen restrictions on travel and remittances to Cuba for Cuban-Americans, senior US administration officials said Monday. A formal announcement was expected later in the day, reports CNN.
Mr Obama will announce that Washington is lifting the toughest restrictions on travel to the island for Cuban-Americans and the dollar remittances they can send back to impoverished relatives.
Google is tight-lipped about its computing operations, but the company for the first time on Wednesday revealed the hardware at the core of its Internet might at a conference here about the increasingly prominent issue of data center efficiency.