United States

• 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.

• Tuesday, November 18th 2008 - 20:00 UTC

  Citigroup prepares for long winter sheds 20% jobs worldwide

  

  Banking giant Citigroup announced it is planning shed 52,000 jobs with losses falling “particularly heavily” in London and New York. The cut - along with previously announced job losses of around 22,000 - will leave it with a global total of 300,000 employees in the near term.

• Tuesday, November 18th 2008 - 20:00 UTC

  Paulson cools bailout funds waiting for Obama administration

  

  United States Treasury Secretary Henry Paulson said that what remains of the 700 billion USD bail out plan authorized by Congress will be left for unforeseen emergencies and to help the incoming President elect Barack Obama administration.

• Tuesday, November 18th 2008 - 20:00 UTC

  Cash strapped Ford and GM sell stakes in Mazda and Suzuki

  

  Troubled US carmaker Ford Motor is selling a 20% stake in Japan's carmaker Mazda Motor. The announcement follows General Motors decision to sell its 3% stake in carmaker Suzuki for 230 million US dollars to raise cash.

• Tuesday, November 18th 2008 - 20:00 UTC

  As recession advances US wholesale prices fall 2.8% in October

  

  Falling energy costs meant US wholesale prices dropped by 2.8% in October, the biggest one-month decline since records began more than 60 years ago. The larger-than-expected fall was triggered by a 12.8% drop in energy prices, the biggest monthly decline for 22 years.

• Monday, November 17th 2008 - 20:00 UTC

  Crucial week for the survival of US auto industry

  United States president-elect Barack Obama said all parties involved in the US auto industry should come together to formulate an economic survival plan.

• Friday, November 14th 2008 - 20:00 UTC

  Soros forecasts “decimation” of hedge funds

  

  Billionaire investor George Soros offered a gloomy outlook for the US economy, stating that a depression is possible. Testifying at a US Lower House Oversight and Government Reform Committee hearing on Thursday, Soros predicted that not only will the US muddle through a “deep recession,” but that hedge funds will be “decimated” by the current financial crisis.