United States

Thursday, July 15th 2010 - 06:19 UTC
US May trade deficit, the highest in last 18 months

US trade deficit widened to its highest level in 18 months in May, driven by demand for imported cars, computers and clothing. The deficit increased by 4.8% to 42.3 billion US dollars, the largest since November 2008, Commerce Department data showed.
Saturday, July 10th 2010 - 07:41 UTC
US no longer world’s great consumer; needs to target sustainable debt, says IMF

The US economy is recovering after the global economic crisis, but consumers and financial institutions remain cautious as weak housing markets, high unemployment, and risks in Europe remain a concern, the IMF staff said in a press conference that followed its annual review of the world’s largest economy.
Wednesday, June 30th 2010 - 05:21 UTC
Brazil largest meat processor JBS targeting US top pork producer

Shares of Smithfield Foods Inc., the top U.S. pork producer, jumped as much as 8.3% Tuesday on speculation the company may be a takeover target for Brazil-based meat processor JBS S.A. A report in the Brazilian publication Valor Economico, citing market sources said JBS may seek discussions over an acquisition with Smithfield.
Tuesday, June 29th 2010 - 05:38 UTC
Obama to host 18 African nations’ 50th independence celebration

US president Barack Obama whose father was from Kenya will be hosting next August a major event to celebrate the 50 years of independence of eighteen African countries, according to US sources.
Tuesday, June 29th 2010 - 05:09 UTC
Lion’s share of the drugs business goes to final distributors, says UN expert

The lion’s share (85%) of the gross profits from the cocaine business between South America and the United States ends in the wholesale and retail distribution network in the US according to Antonio Luigi Mazzitelli, head of the UN office on Drugs and Crime for Mexico and Central America.
Thursday, June 24th 2010 - 06:02 UTC
US Central bank anticipates low rates for an “extended period”

Two days ahead of the Toronto G-20 summit the US Federal Reserve anticipates it will keep its main interest rate at a near zero level, for an “extended period”. The Federal Open Market Committee said on Wednesday that “subdued inflation” and other factors “are likely to warrant” keeping rates at their historic lows.
Thursday, June 17th 2010 - 22:45 UTC
Jump in US claims for jobless benefits; May consumer prices drop 0.2%

The number of US workers filing new claims for jobless benefits jumped last week after three straight declines, the Labour Department said on Thursday. First-time claims rose by 12,000 to a seasonally adjusted 472,000, the highest level in a month.
Sunday, June 13th 2010 - 03:23 UTC
Mrs. Clinton promises to sponsor US/Colombia trade agreement

US Secretary of State Hillary Clinton promised this week after meeting with Colombian president Alvaro Uribe that when she returns to Washington she will begin “a very intensive effort to try to obtain the votes to get the free trade agreement with Colombia finally ratified”.
Sunday, June 13th 2010 - 01:27 UTC
Major low-cost airline servicing the Caribbean grounded over pay contract

Hundreds of pilots for Spirit Airlines, which services the Caribbean, walked off their jobs early Saturday morning after negotiations over pay broke down. In what industry analysts say is the first strike at a US passenger airline in nearly five years, pilots at the low-cost carrier took industrial action as negotiations reached a stalemate.
Saturday, June 12th 2010 - 04:49 UTC
As US economy picks up, revenue increases and budget deficit drops slightly

The US government posted a smaller budget deficit in May than forecast as a growing economy helped bring in more tax revenue, Treasury Department statistics showed. The excess of spending over revenue fell to 135.9 billion last month from a shortfall of 189.7 billion in May 2009, according to a report issued today in Washington.