United States

Wednesday, October 31st 2012 - 04:00 UTC
Fitch Ratings downgrades Argentine bonds following Judge Griesa ruling

Fitch Ratings has placed Argentina's Long-term foreign currency Issuer Default Rating (IDR) of 'B', Short-term IDR of 'B' and the international bonds issued under New York Law on Rating Watch Negative (RWN).
Wednesday, October 31st 2012 - 02:08 UTC
New York working to restore transit service in wake of historic storm

Thousands of New York Metropolitan Transportation Authority workers began on Tuesday to fan out through the system to inspect and begin repair of the damage caused by Hurricane Sandy, a massively destructive storm of historic proportions.
Tuesday, October 30th 2012 - 01:39 UTC
Power shut off in Lower Manhattan fearing flooding electrical delivery system

New York City main power supplier Con Edison begun Monday evening the process of shutting off electrical service to a portion of Lower Manhattan, a move that will protect both company and customer equipment, and allow for quicker restoration after Hurricane Sandy passes.
Monday, October 29th 2012 - 12:31 UTC
Wall Street closes down Monday, Tuesday as hurricane Sandy advances on New York area

Wall Street stock and options markets will be closed on Monday and possibly Tuesday, the exchange operator said, going back on a plan that would have kept electronic trading going on Monday.
Friday, October 26th 2012 - 21:33 UTC
US economy beats forecasts and expands on stronger consumer spending

The economy expanded more than forecast in the third quarter, paced by a pickup in consumer spending, a rebound in government outlays and gains in residential construction. GDP rose 2% annual rate after climbing 1.3% in the prior quarter, Commerce Department figures showed on Friday.
Friday, October 26th 2012 - 20:39 UTC
US Court rules against Argentina: all bondholders must be treated equally, including hold outs

US appeals court ruled Argentina discriminated against bondholders who refused to take part in massive debt restructurings in 2005 and 2010 by deciding to pay them later than bondholders who agreed to participate.
Thursday, October 25th 2012 - 19:21 UTC
Big business call on US Congress to cut the budget deficit with tax reform

Chief executives of more than 80 big US corporations, including Goldman Sachs, JPMorgan and Boeing, joined forces today to pressure Congress to reduce the federal deficit with tax reform and spending cuts.
Thursday, October 25th 2012 - 06:47 UTC
ARA Libertad-Romney family link makes Cristina criticize the Republican candidate

Argentine President Cristina Fernández joined the US presidential campaign harshly criticizing Republican candidate Mitt Romney and stating she is “more alike” the current head of state, Democrat Barack Obama, who is running for re-election.
Thursday, October 25th 2012 - 06:39 UTC
US sues Bank of America for mortgage fraud; ex Goldman & Sachs, two years in jail

Bank of America is being sued for 1bn dollars for alleged mortgage fraud. The civil lawsuit has been brought by the US Attorney Preet Bharara, the top federal prosecutor in Manhattan, New York.
Thursday, October 25th 2012 - 00:10 UTC
Fed pledges all efforts and policy tools to combat “elevated” unemployment

In its last meeting before the November 6 presidential election, the Federal Reserve confirmed its current fresh-money support program for the recovery of the US economy arguing that growth continues slowly and unemployment rate “remains elevated”.