United States

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.
Thursday, July 28th 2011 - 20:39 UTC
US unemployment benefit claimers dropped last week for the first time since April

The number of US citizens claiming new unemployment benefits last week dropped below the 400,000 level for the first time since early April, a hopeful sign for the US economy which has struggled to regain momentum.
Thursday, July 28th 2011 - 20:23 UTC
Top IMF official joins White House as special assistant on international economic affairs

International Monetary Fund's external relations director Caroline Atkinson resigned Thursday after being appointed the as a White House special assistant to the president for international economic affairs.
Thursday, July 28th 2011 - 11:27 UTC
US economic recovery slowed down in June says Fed’s Beige Book

The pace of United States economic growth slowed last month in eight of the 12 Federal Reserve Districts, the central bank said Wednesday in the latest edition of its Beige Book report.