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Nine banks have agreed to pay 2 billion dollars in settlements to US investors over claims they rigged foreign exchange rates, according to lawyers. They are taking action on behalf of investors, including hedge funds and pension funds, who accuse banks of conspiring to manipulate rates.
US Secretary of State John Kerry declared a new era in relations as he celebrated restored diplomatic ties in Havana on Friday, but he also urged political change in Cuba, telling Cubans they should be free to choose their own leaders.
The US economy added 215,000 jobs in July, while the unemployment rate held at a seven-year-low of 5.3%. The Bureau of Labor Statistics said on Friday job gains came in retail trade, health care, professional and technical services, and financial activities.
Donald Trump continued to dominate the Republican race for US president by causing further controversies in the first debate. The tycoon's refusal to rule out a third-party run drew boos from the audience on Thursday night. And he stood by offensive comments he has made in the past about women.
Despite President Barack Obama’s push for greater gun control measures, it would seem that firearm production has boomed during his administration. The United States Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) recently released its “2015 Firearms Commerce in the United States Annual Statistical Update,” in which the agency pointed out a nearly 140% increase in gun production from 2008 to 2013, the last year with available statistics.
The United States on Tuesday called on Venezuela to reverse a ban on opposition members from holding office and participating in the 6 December parliamentary elections. Washington made the request after opposition leader Maria Corina Machado said she had tried to register on Monday as a candidate but her application was rejected.
The United States is closer to begin exporting oil. The Senate Energy Committee passed a bill last week that would lift a decades-old ban on the export of crude oil. The 22-member panel approved the initiative to allow the US to export oil and boost state revenue-sharing for offshore oil and gas drilling by a vote of 12-10.
US President Barack Obama has unveiled what he called “the biggest, most important step we have ever taken” in tackling climate change. The aim of the revised Clean Power Plan is to cut greenhouse gas emissions from US power stations by nearly a third within 15 years.
The Virginia-class nuclear-powered fast attack submarine USS North Dakota (SSN-784) has launched and recovered an underwater drone for the first time. This week, the USS North Dakota returned to the United States after a nearly two-month deployment to the Mediterranean Sea. The submarine was specifically tasked with testing the launch and recovery of an unmanned underwater vehicle (UUV) while submerged.
Former Federal Reserve Chairman Alan Greenspan warns that government spending “extremely dangerous” to the future of the US economy. Greenspan decried a rise in entitlement costs, which he contended have pressured the U.S. economy.