United States

Monday, September 15th 2008 - 21:00 UTC
Bank of America takes over Merrill Lynch for 50 billion USD

Bank of America is to buy Merrill Lynch in a deal worth 50 billion US dollars that will create a new financial giant. The deal came amid a hectic weekend on Wall Street, with Lehman Brothers announcing that it would file for bankruptcy protection.
Friday, September 12th 2008 - 21:00 UTC
Countdown for Lehman Brothers and little of Blucher on sight

Executives at United States investment bank Lehman Brothers are racing to meet a deadline of Sunday night to find a new owner for the troubled bank, the BBC has learned.
Friday, September 12th 2008 - 21:00 UTC
US stops being polite as spat with Venezuela grows

The United States stopped trying to be polite Friday in an escalating diplomatic shoving match with the populist leaders of Venezuela and Bolivia. Washington slapped new sanctions on three aides close to Venezuelan President Hugo Chavez and called him weak and desperate. The Venezuelan ambassador got the boot for good measure, a move that was purely for show. Chavez had already brought his man home.
Thursday, September 11th 2008 - 21:00 UTC
United State marks seventh 9/11 anniversary

Memorial services are set to be held to mark the seventh anniversary of the 11 September 2001 attacks on the US.
Thursday, September 11th 2008 - 21:00 UTC
Record crude prices swell US trade deficit in July

Rising oil prices swelled the United States trade deficit in July to its widest level since March 2007, according to the latest government figures. The trade deficit widened to 62.2 billion US dollars from an upwardly revised estimate of 58.84 billion in June.
Wednesday, September 10th 2008 - 21:00 UTC
Lehman almost KO and no “white knight” on sight

Troubled US investment bank Lehman Brothers has reported a massive third quarter net loss and outlined radical plans to strengthen its finances.
Monday, September 8th 2008 - 21:00 UTC
IMF praises US decision to take over mortgage agencies

The United States government decision to place its leading mortgage agencies into conservatorship “will help support markets and by extension the economic and financial situation” said International Monetary Fund Managing Director Dominique Strauss-Kahn in a Monday release.
Sunday, September 7th 2008 - 21:00 UTC
US government takes control of mortgage guarantee system

President George Bush announced mortgage giants Freddie Mac and Fannie Mae have been taken over because they posed “an unacceptable risk” to the economy. The two companies account for nearly half of the outstanding mortgages in the US, and have lost billions of dollars during the US housing crash.
Friday, September 5th 2008 - 21:00 UTC
US economy “weak, soft or subdued”, says Federal Reserve

The US economy is facing slow growth and higher prices, according to the most recent survey by the Federal Reserve. Economic activity was “weak, soft or subdued” across the country, said the Fed's latest Beige Book report.
Wednesday, September 3rd 2008 - 21:00 UTC
Troubled icon US investment bank ready for takeover

Troubled US investment bank Lehman Brothers has several parties interested in buying into the cash strapped institution according to Wall Street analysts. These include the state controlled Korea Development Bank and Europe's biggest bank HSBC Holdings together with a Chinese bank.