Tag: United States

• Thursday, August 6th 2015 - 08:11 UTC

  NIESR 2015 global economic growth forecast lowered from 3.2% to 3%

  

  Global economic growth will slow this year to the lowest rate since the financial crisis, according to the National Institute of Economic and Social Research (NIESR). The think tank cut its 2015 forecast to 3.0% from the 3.2% it predicted in May.

• Wednesday, August 5th 2015 - 08:47 UTC

  US State Department calls on Venezuela to lift ban on opposition candidates

  

  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.

• Tuesday, August 4th 2015 - 18:40 UTC

  US closer to lifting 40-year ban on oil and natural gas exports; bill needs Senate floor vote

  

  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.

• Tuesday, August 4th 2015 - 09:48 UTC

  Obama unveils his climate change initiative: “no greater challenge to the future of the planet”

  

  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.

• Tuesday, August 4th 2015 - 05:18 UTC

  Oil glut and China's poor manufacturing data reflected in global markets

  

  United States stocks fell on Monday as oil prices touched a six-month low and factory data from China raised concerns about the world's second-biggest economy. Energy stocks were the biggest losers among the main S&P sectors, recording their worst three-day decline in seven months. Exxon Mobil and Chevron, which also reported poor results on Friday, led the losses.

• Friday, July 31st 2015 - 06:25 UTC

  Former Fed chief says discussion is not monetary policy but government spending

  

  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.

• Friday, July 31st 2015 - 05:59 UTC

  US economy expands at an annual 2.3% in 2Q; strong consumer spending

  

  The US economy grew at an annualized pace of 2.3% in the three months to June, official figures have shown. The figure - the first estimate of growth in the second quarter - followed an upwardly revised growth rate of 0.6% in the first three months of the year. The Commerce Department said growth was boosted by increased consumer spending and cheaper fuel prices.

• Thursday, July 30th 2015 - 09:04 UTC

  Fed pleased with labor market gains but inflation remains 'soft' distant from 2% target

  

  The United States Federal Reserve on Wednesday decided to leave its benchmark federal funds interest rate unchanged at between 0 percent and 0.25 percent, while it offered an optimistic assessment of the world's biggest economy and hinted that a rate hike remains on the short-term horizon.

• Friday, July 24th 2015 - 11:18 UTC

  More job losses coming to U.S. shale

  

  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 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.