United States

Thursday, December 15th 2016 - 00:18 UTC
Fed raises rate 25 points to 0.75%, anticipates further increases while US dollar jumps in Asian markets

The U.S. Federal Reserve increased its benchmark interest rate by a quarter of a percentage point to a range of between 0.5 and 0.75%. The higher rate will affect the what savers and borrowers get on their variable rate products from banks, and the fine print of the bank's policy decision shows that a majority of Fed members expect more rate hikes to come, as many as three in the next 12 months, after previously signaling it was expecting only two.
Wednesday, December 14th 2016 - 14:54 UTC
Philippine President Duterte admits avoiding Obama at APEC summit on false pretexts

Philippines President Rodrigo Duterte acknowledged he skipped an evening event at the recent Asia-Pacific Economic Cooperation (APEC) summit in Lima to avoid having to shake hands with Barack Obama. In a speech published Tuesday in a Manila newspaper, Duterte made it clear his absence had not been due to a an upset stomach, but rather a move to avoid an awkward situation.
Wednesday, December 14th 2016 - 05:10 UTC
Trump challenges Congress and nominates close friend of Putin, Rex Tillerson Secretary of State

Donald Trump officially announced his plan Tuesday to nominate ExxonMobil CEO Rex Tillerson as secretary of state, a pick that could pose complications in the confirmation process due to Tillerson's ties to Russia. Tillerson, 64, has no government or diplomatic experience but has done extensive work overseas on behalf of his petroleum company.
Tuesday, December 13th 2016 - 07:51 UTC
Another Goldman Sachs/Wall Street top official named to Trump's economic team

Gary Cohn who was tapped Monday by President-elect Donald Trump to head the Gary Cohn , is second-in-command at investment banking giant Goldman Sachs, which he once hoped to lead. Cohn, 56, has worked on Wall Street since the 1990s and is one the firm’s best known public faces. He makes frequent television appearances to talk about the health of financial markets and the global economy.
Sunday, December 11th 2016 - 22:04 UTC
In 8-0 decision US Supreme Court rules in favor of Samsung in milestone patents' case for the industry

In a unanimous decision on Tuesday, the U.S. Supreme Court threw out a lower court’s US$399 million judgment against Samsung for violating patents involving Apple’s iPhone. The decision overturns a victory that Apple had won in the Washington, D.C.-based U.S. Federal Circuit Court of Appeals.
Saturday, December 10th 2016 - 10:37 UTC
Obama orders review of election-campaign cyber-attacks and points to Russia

President Barack Obama has ordered intelligence officials to conduct a broad review of election-season cyber-attacks, including the email hacks that rattled the presidential campaign and raised fresh concerns about Russia’s meddling in U.S. elections, the White House said Friday.
Thursday, December 8th 2016 - 10:15 UTC
Time magazine names Trump “Person of the Year”, president of the divided States of America

Time magazine on Wednesday named Donald Trump its Person of the Year, bestowing what the president-elect called an “honor” even as he derided the idea that he’ll lead “the Divided States of America.”
Wednesday, December 7th 2016 - 12:16 UTC
Japanese tech firm meets Trump and pledges to invest US$ 50bn in the US

Shares of Japanese technology firm Softbank have soared to their highest level in more than one year in Tokyo trade, jumping 5% at the open. That is on news Chief Executive Masayoshi Son said he will invest US$50bn in US businesses. But details are lacking on where the money will go and how it will benefit American businesses.
Wednesday, December 7th 2016 - 10:13 UTC
Cancel order!, blasts Trump on hearing cost of Boeing's revamped Air Force One

President-elect Donald Trump urged the government on Tuesday to cancel an order with Boeing Co for a revamped Air Force One, one of the most prominent symbols of the U.S. presidency, saying costs were out of control. It was the latest example of Trump using his podium, often via Twitter messages, to rattle companies and foreign countries as he seeks to shake up business as usual in Washington.
Tuesday, December 6th 2016 - 08:16 UTC
On the 75th anniversary, Japan's Abe will honor Pearl Harbour war dead but not apologize

Prime Minister Shinzo Abe will honor war dead but won't apologize when he becomes the first Japanese leader to visit Pearl Harbor this month, a top government spokesman said on Tuesday.The move follows Barack Obama's historic May trip to Hiroshima, the first by a sitting US president, where he spoke of victims' suffering but offered no apology for dropping the world's first nuclear bomb.