United States

United States
Friday, July 31st 2015 - 05:59 UTC

US economy expands at an annual 2.3% in 2Q; strong consumer spending

Consumer spending grew at a rate of 2.9% in the second quarter, compared with 1.8% in the first three months of the year.

The US economy grew at an annualized pace of 2.3% in the three months to June, official figures have shown. The figure - the first estimate of growth in the second quarter - followed an upwardly revised growth rate of 0.6% in the first three months of the year. The Commerce Department said growth was boosted by increased consumer spending and cheaper fuel prices.

Thursday, July 30th 2015 - 09:04 UTC

Fed pleased with labor market gains but inflation remains 'soft' distant from 2% target

“The labor market continued to improve, with solid job gains and declining unemployment,” said FOMC. Unemployment fell to 5.3% in June

The United States Federal Reserve on Wednesday decided to leave its benchmark federal funds interest rate unchanged at between 0 percent and 0.25 percent, while it offered an optimistic assessment of the world's biggest economy and hinted that a rate hike remains on the short-term horizon.

Thursday, July 30th 2015 - 07:48 UTC

Cruise lines agree to equal access for individuals with disabilities

Settlement agreement addresses accessibility on 62 ships among Carnival brands including Carnival Cruise Line, Holland America Line and Princess Cruises

The U.S. Justice Department and Carnival Corp. have reached a comprehensive, landmark settlement agreement under the Americans with Disabilities Act (ADA) to advance equal access for individuals with disabilities who travel on cruise ships, the Justice Department announced Wednesday.

Thursday, July 30th 2015 - 07:23 UTC

Argentina asks if Iran nuke-deal includes delisting Iranian wanted in major bomb attack in Buenos Aires

Argentina is concerned with a news report saying the secret deal included EU's consent to remove ex-Iran Defense Minister Ahmad Vahidi from sanctions list.

Argentina's foreign minister is asking U.S. Secretary of State John Kerry and European Union Foreign Affairs representative, Federica Mogherini to clarify whether Washington's nuclear deal with Iran includes removing from Interpol's list an Iranian wanted in a major bomb attack in Buenos Aires that took place in 1994 and remains unsolved.

Friday, July 24th 2015 - 11:18 UTC

More job losses coming to U.S. shale

With prices of both Brent and WTI moving towards $50 per barrel, this is bad news for the U.S. shale sector which is already dealing with rising debt

With the recently concluded nuclear deal between Iran and the P5+1 countries, oil prices have already started heading downward on sentiments that Iran's crude oil supply would further contribute to the already rising global supply glut. The economic crisis in Greece, OPEC's high production levels and China's market turmoil have created more pressure on oil prices, making a price rebound look highly unlikely in the near future.

Friday, July 24th 2015 - 11:02 UTC

US filings for unemployment benefits fall to its lowest since 1973

The bullish jobs picture, together with a firm housing market brings the Federal Reserve a step closer to hike interest rates this year.

The number of US citizens filing new applications for unemployment benefits last week dropped to its lowest level in more than 41 and a half years (1973), suggesting the labor market maintained a sturdy pace of job growth in July.

Thursday, July 23rd 2015 - 07:15 UTC

Obama administration drafting plan to definitively close Guantánamo prison

It was set up after the Sept. 11, 2001, attacks for al Qaeda and Taliban detainees. Obama vowed to close it within a year when he came to office in 2009.

The White House said it was in the final stage of drafting a plan for closing the Guantánamo prison for foreign terrorism suspects, racing against time to resolve one of President Barack Obama's most intractable problems. Spokesman Josh Earnest said the administration hoped to “short circuit” opposition from Republicans in Congress who have blocked Obama from closing the prison.

Tuesday, July 21st 2015 - 04:43 UTC

Cuba and US on a 'new beginning', but 'profound differences' persist

Kerry said the ”interests of both countries are better served by engagement than by estrangement,'' after meeting with Cuban Foreign Minister Rodríguez

U.S. Secretary of State John Kerry on Monday called the restoration of diplomatic relations with Cuba a “new beginning” but said many differences remain between the two nations and warned that the full normalization of ties will be a long process. He spoke hours after ceremonies were held in Havana and Washington to mark the restoration of ties after more than five decades of hostility.

Friday, July 17th 2015 - 06:57 UTC

Comparing FIFA to the mafia “is almost insulting to the mafia”. US Senate grills soccer federation

“The fact of the matter is that what has been revealed so far is a mafia-style crime syndicate in charge of this sport” said Senator Blumenthal

Comparing FIFA to the mafia is “almost insulting to the mafia”, a US senator said, turning up the heat on football's corruption-tainted world governing body to reform. Richard Blumenthal made the remark at a Senate subcommittee hearing scrutinizing FIFA, after US authorities in May indicted 14 people - including top football officials over tens of millions of dollars of alleged bribes for media rights contracts.

Friday, July 17th 2015 - 06:01 UTC

Yellen says Fed remains on track to raise interest rates this year

“If the economy evolves as we expect, economic conditions likely would make it appropriate at some point this year to raise the federal funds rate,” Yellen said

Federal Reserve Chair Janet Yellen said the US central bank remains on track to raise interest rates this year, with labor markets expected to steadily improve and turmoil abroad unlikely to throw the US economy off track.

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