United States Senate has given final approval to the biggest overhaul of US financial regulation in decades. The reforms are intended to avert a repeat of the 2008 crisis that brought the world economy to the brink of collapse.
Syrian president Bashar al-Assad wrapping up his Latinamerican tour of four countries, Cuba, Venezuela, Brazil and Argentina described the government of US President Barack Obama as ‘weak’ to ensure a peace process in the Middle East adding he was hopeful of negotiations sponsored by other countries such as Brazil and Turkey.
US president Barack Obama whose father was from Kenya will be hosting next August a major event to celebrate the 50 years of independence of eighteen African countries, according to US sources.
President Barack Obama has warned against cutting national debts too quickly as it would put economic recovery at risk. In a letter to G20 leaders, the US president said that while it was important to put in place credible plans to cut deficits, withdrawing economic stimulus early was dangerous.
United States President Barack Obama held talks with his Peruvian counterpart Alan Garcia in the White House and praised the South American country’s economic performance and consolidated democracy.
The US reported its largest April budget deficit on record, 82.7 billion USD as receipts declined in a month that typically sees an increase in individual income tax payments, according to the latest release from the Treasury Department.
Under pressure from Europe to deliver (shape up or ship out) Spain's PM has outlined a plan to tackle the country's budget crisis, amid concerns that problems afflicting Greece may spread across the Eurozone.
United States shares closed lower on Tuesday as global stock markets stalled on niggling worries over European debt problems. On Wall Street, the Dow Jones index closed down 0.34% following a turbulent day's trading, and a nearly 4% rise on Monday.
United States big banks should be charged a fee to pay for bailouts as it will make them less prone to reckless lending, US Treasury Secretary Timothy Geithner told lawmakers as he sought support for the proposal.
Tens of thousand of demonstrators marched in over 70 cities across the United States Saturday to protest a new immigration law in the state of Arizona. The law is aimed at those who have entered the country illegally, but critics say it will lead to ethnic profiling of Arizona's Hispanics.