The US economy is continuing its economic downturn although it would be premature to officially declare a recession, the Organisation for Economic Co-operation and Development (OECD) has said.
Middle income families in United States should calculate that raising a child born in 2007 to adulthood will demand an estimated 204.060 US dollars in food, housing and education costs, according to an annual report from the US Department of Agriculture.
United States bakers are feeling the pinch of higher wheat prices and have been visiting Washington warning about the possible consequences for the US consumer if the current price level persists, reports FarmPolicy.com (*).
United States economic growth is grinding to a halt, but the Euro zone is doing relatively well so far, according to the latest assessment from the Organisation for Economic Cooperation and Development.
Nobel Prize winning economist Joseph Stiglitz said the current financial crisis is the worst the world has seen since the Great Depression of the 1930s and the US Federal Reserve move to cut interest rates will not make much difference.
The Federal Reserve cut US interest rates sharply (0.75%) in an attempt to restore confidence to nervous financial markets and boost the ailing economy. However the cut was smaller than markets expected and the rate now stands at 2.25% (down from 3%), almost at inflation level.
United States has no enemies in Latinamerica, said US Secretary of State Condoleezza Rice who also praised regional leaders' role in downplaying the impact of the incident and tension between Colombia and Ecuador.
Worry about the damage a growing credit crisis is inflicting on an ailing U.S. economy led the Federal Reserve to make a rare weekend move, lowering a key lending rate before Wall Street opened Monday.
One of the United States leading investment banks, Bear Stearns received on Friday emergency funding, in a move that raises fears that one of Wall Street's biggest names is on the verge of collapsing.
One of the world's top cruise operators has agreed to reimburse US passengers for fuel surcharges that were not adequately disclosed, the Florida attorney general announced Monday.