Democratic presidential candidate Barack Obama sought to tap into US citizens' anxiety over high gasoline prices yesterday by pledging to seek a windfall profits tax on US oil companies if elected.
The United States presidential campaign will also be fought in Latinamerica. Democrat candidate Barak Obama has named a US attorney married to a Brazilian to convince the 30.000 US citizens living in Brazil, while a businessman, resident in Sao Paulo will represent the Republican Party and candidate John McCain.
United States investment bank Lehman Brothers is raising 6 billion US dollars to boost its finances after predicting a loss of 2.8 billion in the second quarter of 2008.
United States home foreclosures and late payments set records over the first three months of the year and are expected to keep rising, stark signs of the housing crisis' mounting damage to homeowners and the US economy.
The United States unemployment rate rose at its fastest pace in more than two decades in May, stoking fears of recession in the world's biggest economy. The surprise jump in May's jobless rate to 5.5% from 5% is the most recent signal yet that US growth is stalling.
Federal Reserve Chairman Ben Bernanke said Wednesday that long term inflationary expectations are concerning but he does not believe the United States will experience the out-of-control prices seen with 1970s oil shocks.
United States former Federal Reserve Chairman Alan Greenspan said on Friday in Canada that he does not expect another bubble in world markets for a long time but warned about the threat of inflation.
The United States economy performed better than expected in the first quarter of 2008 having expanded 0.9% according to the latest data from the Commerce Department.
Federal Reserve Governor Frederic Mishkin will leave at the end of August and return to teaching at Columbia University, the United States central bank announced Wednesday.
With oil prices hitting new records almost daily, the nation's largest air carrier, American Airlines, announced drastic steps Wednesday to remain viable, including charging new fees for all checked baggage, slashing domestic flights and laying off thousands of workers.