United States

United States
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.

Tuesday, July 14th 2015 - 06:28 UTC

Hillary Clinton vows banks cannot be “too big to fail” since it's still “too big a problem”

A former first lady and US senator, Clinton is the clear favorite to win the Democratic nomination for the November 2016 US presidential election

US presidential candidate Hillary Clinton criticized Wall Street and her Republican rivals, promising to impose tougher regulations on banks and raise the wages of ordinary Americans if she wins the 2016 White House race. Under pressure from a campaign rival on the left, Clinton said she would appoint strict overseers to ensure that financial institutions never again indulge in the risky behavior that helped cause the 2008 banking crash.

Saturday, July 11th 2015 - 05:30 UTC

IMF trims forecast for global growth because of recent US economy weakness

“Stress tests reassure us and make us think that if things go badly in Greece ... the rest of the world would probably survive quite well,” Blanchard said.

The International Monetary Fund has trimmed its forecast for global economic growth for this year to take into account the impact of recent weakness in the United States. But the global financial institution said growth prospects for next year remain undimmed, despite Greece's debt crisis and recent volatility in Chinese financial markets.

Thursday, July 9th 2015 - 05:44 UTC

New York Stock Exchange down for three hours due to a technical fault

Earlier, United Airlines and the Wall Street Journal's website reported major technical problems.

Trading on the New York Stock Exchange (NYSE) on Wednesday restarted after being suspended for more than three hours due to a technical fault. The NYSE has yet to give full details of the problem, but emphasized that it was not the result of a cyber hack. Other exchanges, including Nasdaq, reported no problems and were trading normally.

Thursday, July 9th 2015 - 03:33 UTC

All United Airlines grounded for almost two hours because of computer problems

”We are restoring regular flight operations, but some customers may experience residual delays (Wednesday),” United said in an afternoon statement.

All United Airlines flights were grounded for almost two hours early Wednesday due to a computer hardware problem, creating travel headaches for tens of thousands of passengers that stretched into the afternoon. United said 800 flights had been delayed, with four flights canceled on its main carrier and 55 on its regional partners. A similar situation happened on 2 June when United flights were also grounded due to “automation issues.”


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