United States pressed Europe's strongest economies on Friday to give unequivocal financial support to weaker Euro zone states to overcome a debt crisis that threatens the world economy.
President Barack Obama urged Thursday evening a joint session of the US Congress to end what he calls the political circus in Washington, and move rapidly to approve job creation legislation he is sending to Capitol Hill. There was no official rebuttal from the opposition Republicans.
The U.S. trade deficit in goods and services dropped 13.1% in July to 44.8 billion dollars, the Commerce Department said Thursday.
Ratings agency Standard & Poor's officials privately met with large bond-investors weeks before the firm's US debt downgrade, leaving some believing the chance of a rating downgrade was higher than they had previously thought, the Wall Street Journal said.
Billionaire George Soros believes that the current crisis of the Euro zone has the ‘potential to be a lot worse than the Lehman Brothers’ in the US due to the lack of consensus in the European Union to create an authority with enough power to handle this problem.
The US economy continues to grow slowly, with patches of weaker activity, the Federal Reserve said Wednesday in a report used by the central bank in setting monetary policy.
US President Barack Obama will unveil a 300 billion dollars package to create new jobs in an address to Congress on Thursday, US media reports citing Democratic sources.
Big US banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that may limit their legal liabilities in return for a multibillion-dollar payment, the Financial Times reported Tuesday.
Hurricane Katia continued to intensify Sunday afternoon as it churned in the Atlantic Ocean, spurring warnings about rip currents and fears it could soon develop into a major hurricane, the United States National Hurricane Center said.
More than eight in 10 US residents think the economy is in another recession, according to a new CNN/ORC poll. One-third of those surveyed think it’s serious.