Concern that United States house prices could fall sharply has returned after a key survey showed that sales fell to a near five-year low in the year to July. Sales of existing homes fell 0.2% to 5.75 million units in the year, the lowest since November 2002, said the National Association of Realtors (NAR).
Countrywide Financial Corp Chief Executive Angelo Mozilo said on Thursday the U.S. housing downturn is likely to lead the country into recession, but that the largest U.S. mortgage lender will survive.
World markets on Friday reacted firmly back to positive following the Federal Reserve announcement that it would cut the rate at which it lends banks to inject more liquidity into the financial system
United States Treasury Secretary Henry Paulson said the current turmoil in financial markets will slow economic growth but should not spark a recession, according to a report published Thursday in The Wall Street Journal.
Global markets plunged again on Thursday with London's main FTSE 100 index seeing its sharpest fall in four-and-a-half years, but in New York Wall Street shares staged a dramatic recovery after suffering heavy losses earlier in the day.
United States shares have fallen again with problems in the mortgage sector continuing to have an adverse effect on market sentiment but also on warnings from two big retailers Wal-Mart and Home Depot.
As United States struggles with a sagging public image in many Latin American countries, US adults show a stunning ignorance about the region, a new Zogby Interactive poll shows.
United States asked the World Trade Organization to rule in a complaint against China over piracy of copyrighted movies, music, software and books, escalating a dispute that has soured commercial relations between the two trading giants.
The United States Federal Reserve pumped 38 billion dollars into the banking system Friday, marking its biggest operation since the week of the 9/11 terror attacks, as it vied to shore up the US financial system.
United States stocks plunged Thursday with the Dow Jones falling to its second worst close so far this year, as reports of liquidating hedge funds triggered more credit-related anxiety