United States

United States
Saturday, June 6th 2015 - 08:24 UTC

US unemployment in May ups to 5.5%, as more people look for jobs

The economy is expected to return to growth in the second quarter, after an unexpected contraction because of harsh weather and West Coast ports' strike

The US economy added 280,000 jobs in May, the US Labor Department has said. The increase was more than analysts had expected and the biggest this year and was described as “encouraging”.

Saturday, June 6th 2015 - 08:00 UTC

Argentine debt climbed 5.4bn of Friday following Griesa's ruling favoring 'me too' bond holders

Griesa said the “me-too” creditors held bonds that were substantially similar to those held by the hedge funds and thus should be treated the same way.

Argentina must pay US$5.4 billion to more than 500 “me-too” holders of defaulted debt before it can pay the majority of its creditors, a US judge ruled on Friday. Argentina anticipated it would appeal the ruling.

Friday, June 5th 2015 - 09:23 UTC

The evolution of the oil weapon

After the 1973 embargo, Nixon approached Saudi Arabia with a proposed deal to ensure that a repeat of such an embargo would never happen to the US

In the age of derivatives, swaps, and electronic money transfers, a new form of warfare has emerged: financial warfare. Recently, the US has passed sanctions on countries such as Syria, Venezuela and North Korea, but the majority of energy related sanctions passed have been targeted at Iran and Russia.

Friday, June 5th 2015 - 06:22 UTC

IMF calls on the Fed to keep rates on hold until first half of 2016

Lagarde said the risks of raising rates too soon outweighed the risk of keeping rates on hold and allowing inflation to slightly exceed the Fed's 2% target.

The International Monetary Fund urged the Federal Reserve to wait until the first half of 2016 to start raising short-term interest rates because the US economy remains subpar. In its annual checkup of the US economy released Thursday, the IMF said “the underpinnings for continued growth and job creation remain in place.”

Friday, June 5th 2015 - 06:12 UTC

Flibanserin or “Viagra for women” closer to FDA approval: concern about side effects

The panel's approval, however, doesn't mean that women looking to boost their libido will be able to purchase the drug immediately

A tiny pink pill touted as “Viagra for women” got a reluctant nod from the United States Food and Drug Administration panel, bringing the first medical treatment for female sexual dysfunction one step nearer to coming on the market.

Wednesday, June 3rd 2015 - 08:07 UTC

Obama signs bill that limits phone data collection by government

The bill, which replaces the Patriot Act, had been backed by President Barack Obama as a necessary tool to fight terrorism.

The US Senate has voted to limit the government's ability to collect phone data, a policy that had been in place since the attacks of 11 September 2001. The USA Freedom Act extends the government's ability to collect large amounts of data, but with restrictions.

Tuesday, June 2nd 2015 - 05:39 UTC

Jacobson nominated as new ambassador to Mexico, announced the White House

Jacobson will replace Anthony Wayne, who has been the U.S. envoy since 2011, if she is confirmed by the Senate

U.S. President Barack Obama on Monday announced his intention to nominate Roberta Jacobson, the assistant secretary of state for Latin America and the chief U.S. negotiator at the talks to resume diplomatic relations with Cuba, as the new ambassador to Mexico, the White House announced in a communiqué.

Tuesday, June 2nd 2015 - 05:32 UTC

Argentina states 'lack of confidence' in mediator Pollack named by Judge Griesa

“It is impossible to hold negotiations right now due to the plaintiffs' persistence in carrying out actions which harm the Republic” said the letter signed by Boccuzzi

The Argentine government has turned down a plea from mediator Daniel Pollack to return to the negotiating table with holdout investors, with the Economy Ministry considering that talks with the speculative funds, so-called 'vulture funds', would be inappropriate given the behavior of the litigants.

Monday, June 1st 2015 - 06:50 UTC

US economy shrinks 0.7% in first quarter; harsh winter partly to blame

The previous calculation underestimated the rise in the volume of imported goods and overestimated capital investment by companies

The US economy shrank 0.7% in the first three months of 2015, compared to the same period last year. The Bureau of Economic Analysis significantly revised down its earlier economic growth estimate of 0.2%.

Saturday, May 30th 2015 - 09:27 UTC

FIFA case: US investigator 'fairly confident' of another round of indictments

“I'm fairly confident that we will have another round of indictments,” Weber told the NY Times on Friday.

Richard Weber, the United States Internal Revenue Service's (IRS) leader of criminal investigations, told The New York Times he was fairly confident that there would be another round of indictments, following on the 14 FIFA officials accused of racketeering and accepting $150 million in bribes to rig marketing contracts and the selection of the host country for the 2010 World Cup.

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