United States

United States
Friday, April 15th 2016 - 09:04 UTC

US regulators reject “too big to fall” banks proposals in case of another major 'blackout'

FDIC and the Federal Reserve board jointly rejected the banks' plans. If they fail to come up with improved plans they could face “more stringent” requirements.

US regulators have rejected the plans of five big US banks for closing their operations in the event of a crisis. Banks labeled “too big to fail” must have a so called “living will” that would allow them to close down without the help of public money. Bank of America, Bank of New York Mellon, JPMorgan Chase, State Street and Wells Fargo have until 1 October to submit improved plans.

Friday, April 15th 2016 - 08:47 UTC

US cautions Caribbean BOTs about whom they give their passports

Under the CIP Antigua and Barbuda, St. Kitts and Nevis and Dominica, foreign nationals are granted citizenship in exchange for a substantial investment

The United States Government has cautioned Caribbean countries offering a Citizenship by Investment Program (CIP) to be extra cautious about who they give their passports to, and ensure that recipients have no terrorist or crime links. It gave the advice, in a statement issued by the US Embassy in Barbados, even as it made it that it was not advising regional countries on whether or not they should offer economic citizenship.

Thursday, April 14th 2016 - 09:18 UTC

World's largest private coal miner has filed for bankruptcy protection in the US

“This was a difficult decision, but it is the right path forward for Peabody,” said CEO Glenn Kellow.

Peabody Energy, the world's largest privately-owned coal miner, has filed for bankruptcy protection in the US after a sharp fall in coal prices left it unable to repay its debts. The firm said the move was aimed at reducing debt and that all its mines and offices would continue to operate.

Saturday, April 9th 2016 - 14:59 UTC

Panama Papers: EU warning; questions why no US or German prominent names have surfaced

“People are fed up with these outrages,” said Pierre Moscovici, who heads financial affairs for the 28-nation EU.

A European Union official threatened to sanction Panama and other nations if they don’t cooperate fully to fight money laundering and tax evasion, after a leak of data showed the small country remains a key destination for people who want to hide money.

Wednesday, April 6th 2016 - 07:57 UTC

Obama on Panama Papers: “a lot of it is legal, but that's exactly the problem”

“A lot of it is legal, but that’s exactly the problem. It’s not that they’re breaking the laws, it’s that the laws are so poorly designed.”

United States President Obama hailed new Treasury Department rules cracking down on corporate tax inversions Tuesday, calling the practice of merging with a foreign company to escape U.S. taxes “one of the most insidious tax loopholes out there.”

Tuesday, April 5th 2016 - 05:53 UTC

US looking for evidence of corruption and violation of US law in Panama Papers

 “The US Department of Justice takes very seriously all credible allegations of high level, foreign corruption that might have a link to the US” said Peter Carr

The United Stated Department is reviewing the leaked documents from a Panamanian law firm that reveal the offshore financial arrangements of global politicians and public figures, a department spokesman said on Monday. The department is determining whether the documents point to evidence of corruption and other violations of US law.

Sunday, April 3rd 2016 - 07:43 UTC

US economy gains confidence: 215.000 more jobs in March and 1.4% growth in fourth quarter

The US economy added 215,000 jobs in March, a little less than it did in February when 242,000 jobs were created. The unemployment rate has risen to 5% from 4.9%, which was an eight-year low, but the Labor Department said more Americans were finding jobs, which suggested a sign of confidence in the US economy. In effect this follows the report on the US economy which grew at an annualized rate of 1.4% in the fourth quarter of 2015s.

Thursday, March 31st 2016 - 02:04 UTC

Rousseff cancels Washington trip to avoid Temer from becoming acting president

Dilma and Temer in better times share a private conversation

President Dilma Rousseff decided on Tuesday to cancel her planned trip to the United States next Thursday to participate in the 4th Nuclear Security Summit, to be held in Washington.

Wednesday, March 30th 2016 - 08:23 UTC

Yellen says the Fed will 'proceed cautiously' and in no hurry to raise interest rate

Yellen said the Fed is monitoring the effects of a global economic slump, lower oil prices and stock market turbulence. Fed will “proceed cautiously” in raising rates.

Federal Reserve Chair Janet Yellen said on Tuesday that the Fed still envisions a gradual pace of interest rate increases in light of global pressures that could weigh on the economy. Yellen did not specify a timetable for further hikes to follow the Fed's rate increase in December from record lows. She said the risks to the United States remain limited but cautions that assessment is subject to “considerable uncertainty.”

Friday, March 25th 2016 - 05:20 UTC

US government supports Argentine appeal to lift injunctions in its debt dispute

The announcement was made on Thursday, as Barack Obama ends a two-day visit to Argentina during which he expressed his firm support to Macri's administration

In another display of support for the Argentine administration of president Mauricio Macri, the government of the United States affirmed it has “significant foreign policy interests” in finding a “rapid” resolution to the long-standing dispute between Argentina and bondholders.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!