United States

• Wednesday, December 3rd 2008 - 20:00 UTC

  Congress watchdog critical of US bail-out plan implementation

  

  The 700 billion dollars bail-out of the US banking system is being carried out without adequate oversight, according to the General Accounting Office (GAO). The Congressional watchdog says that the US Treasury is failing to monitor whether banks have complied with requirements on executive pay.

• Wednesday, December 3rd 2008 - 20:00 UTC

  Obama names first Latino in cabinet: Commerce Secretary

  

  US President elect Barack Obama said Wednesday on naming New Mexico Governor Bill Richardson, --the only Latino so far who has been named to a cabinet post-- would be an “unyielding advocate” for American business and American jobs as Commerce Secretary

• Monday, December 1st 2008 - 20:00 UTC

  It's official: US has been in recession since December 2007

  

  The US National Bureau of Economic Research said Monday that the US has been in a recession since December 2007. The NBER said that the deterioration in the labour market throughout 2008 was one key reason why it decided to state that the recession began last year.

• Monday, December 1st 2008 - 20:00 UTC

  Obama names Hillary, confirms Gates in the Pentagon

  

  United States President-elect Barack Obama nominated Monday his former rival, Hillary Clinton, as his secretary of state. Mr Obama described the former first lady as a woman of “tremendous stature” who had his “complete confidence”.

• Tuesday, November 25th 2008 - 20:00 UTC

  Fed to inject another 800 b. to unfreeze credit market

  

  The US Federal Reserve is to inject another 800 billion US dollars into the US economy in a further effort to stabilise the financial system. US Treasury Secretary Henry Paulson said the stimulus package aimed to make more lending available to consumers.

• Tuesday, November 25th 2008 - 20:00 UTC

  Obama readies stimulus plan and budget reform

  President-elect Barack Obama has outlined more details of his plans to stimulate the ailing US economy, at the same time as making cuts to the budget. He said budget reform was “imperative” and that the nation could not “sustain a system that bleeds billions of taxpayer dollars” on unneeded projects.

• Monday, November 24th 2008 - 20:00 UTC

  Obama names top economic advisers; warns of challenges

  

  United States President-elect Barack Obama has named his top economic advisers to oversee a huge economic stimulus package. Timothy Geithner, the president of the New York Federal Reserve, will be the next US treasury secretary.

• Saturday, November 22nd 2008 - 20:00 UTC

  NY Fed Reserve Geithner tipped for Treasury Secretary

  

  United States shares rose sharply on Friday following a report that US President-elect Barack Obama has chosen his treasury secretary, reassuring investors. The Dow Jones Industrial Average added 494 points or 6.5% to end at 8,046.66. The Standard & Poor's 500 climbed 6.3%.

• Saturday, November 22nd 2008 - 20:00 UTC

  Hillary Clinton accepts post as Secretary of State

  

  New York Senator Hillary Clinton has accepted President-elect Barack Obama's offer of the job of secretary of state. Hillary is expected to accept the position of secretary of state in the Obama Administration. A formal announcement is planned for after Thanksgiving.

• Wednesday, November 19th 2008 - 20:00 UTC

  US consumer prices drop 1% and building permits to '69 level

  United States consumer prices dropped by a record 1% in October compared with the previous month, as fuel costs kept falling for a third month in a row. Fuel prices were not the only reason for the record drop, as core prices, which exclude food and energy, fell for the first time since 1982.