United States

• Wednesday, August 3rd 2011 - 06:53 UTC

  China Dagong agency downgrades US credit rating from A+ to A with negative outlook

  

  Chinese rating agency Dagong Global Credit Rating Co. said Wednesday it has cut the credit rating of the United States from A+ to A with a negative outlook after the U.S. federal government announced that the country's debt limit would be increased.

• Wednesday, August 3rd 2011 - 00:10 UTC

  China says there’s no way of escaping dollar dominance… in the short term

  

  United States' debt woes still threaten the global economy despite the last-minute deal struck by the White House and political party leaders, China's main official newspaper said on Tuesday, adding there was no short-term escape from the dominance of the dollar.

• Tuesday, August 2nd 2011 - 21:44 UTC

  US consumers cut spending in June for the first time in two years

  

  US consumer spending unexpectedly fell in June to post the first decline in nearly two years as incomes barely increased, a government report showed, suggesting economic growth could remain subdued in the third quarter.

• Tuesday, August 2nd 2011 - 21:37 UTC

  Wall Street fears possible downgrade of US rating in spite of vote on debt ceiling

  

  Wall Street dropped on worries about a possible downgrade of the United States' top credit rating and signs of economic weakness even as the US Congress passed on Tuesday a bill to avoid a debt default.

• Tuesday, August 2nd 2011 - 15:46 UTC

  Geithner admits battle over debt limit has damaged confidence in the US economy

  

  US Treasury Secretary Timothy Geithner said he is not sure whether the bitterly fought debt agreement to be considered by the US Senate will avoid a downgrade of the U.S. top-tier credit rating.

• Tuesday, August 2nd 2011 - 07:27 UTC

  With hours before default deadline, US Senate votes on debt ceiling package

  

  US House of Representatives has passed by 269 votes to 161 a last-gasp deal to avoid a federal debt default. The bill is expected to be approved by the Senate and signed into law by President Barack Obama on Tuesday.

• Monday, August 1st 2011 - 20:37 UTC

  US manufacturing expanded at its lowest in two years in July

  

  US manufacturing grew at its slowest pace in two years in July as new orders contracted, a troubling development for the faltering economy. The Institute for Supply Management said its index of national factory activity fell to 50.9, the lowest level since July 2009, from 55.3 in June.

• Monday, August 1st 2011 - 19:59 UTC

  Nobel Prize Krugman criticized Obama for giving in on debt deal

  

  The Nobel Prize winner economist Paul Krugman harshly criticized President Barack Obama for giving in to pressure compromising on a debt ceiling deal that defenders say will save the country from default.

• Monday, August 1st 2011 - 07:16 UTC

  Obama announces agreement to raise US debt-limit; Congress has to vote the deal

  

  President Barack Obama announced Sunday Republican and Democratic leaders have reached an agreement on raising the US debt limit and avoiding default. He said the deal would cut one trillion dollars of spending over 10 years, and set up a committee to report by November on a proposal to further reduce the deficit.

• Friday, July 29th 2011 - 07:02 UTC

  Latam and Caribbean hold 727bn dollars in US government debt assets

  

  The UN Economic Commission for Latin America and the Caribbean, ECLAC, expressed public concern about the ongoing discussions between the White House and Congress regarding the governments’ borrowing limit and the August 2 deadline to reach an agreement.