The United States Department of Agriculture on Sunday ordered the recall of approximately 64.000 tons of beef from a Southern California slaughterhouse that is the subject of an animal-abuse investigation.
Identity theft for the seventh year in a row topped in 2007 the list of consumer fraud complaints recorded by the United States Federal Trade Commission, FTC. The list contained in the publication Consumer Fraud and Identity Theft Complaint Data January-December 2007, showed that of 813,899 total complaints received in 2007, 258,427, or 32% were related to identity theft.
United States Federal Reserve chief Ben Bernanke told Congress on Thursday that the US economic outlook had deteriorated but pointed out that the Fed will act in a timely manner.
The US trade deficit narrowed in 2007 after five years of consecutive records, pushed by exports that helped offset the country's large growth in oil imports and trade gap with China. The deficit reached 711.6 billion US dollars in 2007, down from 758.5 billion in 2006, a 6.2% decline the Commerce Department said.
President George Bush said the fundamentals of the U.S. economy are strong, but admitted the country is going through a period of economic uncertainty. However Bush underlined that the 152 billion US dollars stimulus package he will sign into law Wednesday will provide a much needed boost.
Fears of a global slowdown triggered by US housing market problems wiped 5.2 trillion US dollars off global stock markets in January, analysts estimate. According to ratings firm Standard and Poor's, 50 out of 52 share indexes around the world ended the month lower. (5.2 trillion is equivalent to two GDP of France).
United States President George Bush announced on Friday that the will sign a 168 billion US dollars economic stimulus package approved by the Senate that he said is needed to help boost the slowing economy. The announcement came as an AP-Ipso public opinion poll revealed an all time low support for President Bush and the US Congress.
In the latest example that the U.S. dollar is not what it used to be some shops in New York City have begun accepting Euros and other foreign currencies as payment for merchandise.
Stocks slumped for a second straight session Tuesday after Wall Street saw an unexpected contraction in the service sector as evidence that the economy is sinking into recession. The Dow Jones industrial average fell more than 350 points, while bond prices rose.
Exhausted White House hopefuls launched one last frenzied day of campaigning before a 24-state Super Tuesday - the biggest one-day White House nominating contest in history.