United States

Thursday, December 18th 2008 - 20:00 UTC
Hedge fund fraud king with house arrest and electronic tag

Bernard Madoff, the hedge fund boss accused of a 50 billion US dollars fraud, has put up 10 million bail and in effect been placed under house arrest. Mr Madoff turned up at New York's federal court to sign some papers but did not answer reporters' questions.
Thursday, December 18th 2008 - 20:00 UTC
Obama names bio-fuels fervent advocate for Agriculture

US President-elect Barack Obama has announced that Colorado Senator Ken Salazar will serve as Secretary of the Interior in his cabinet. He will be in charge of leasing federal land for energy exploration.
Thursday, December 18th 2008 - 20:00 UTC
Woman to the rescue of “failed” US financial watchdog

Mary Schapiro has been named the next head of the US financial watchdog Securities and Exchange Commission. President-elect Barack Obama officially nominated her as the first permanent chairwoman of the regulator.
Wednesday, December 17th 2008 - 20:00 UTC
Obama named Time's 'Person of the Year' 2008”

U.S. President-elect Barack Obama was named “Person of the Year” by Time magazine, which said he “suspended our politics, shattered decades of conventional wisdom and overcame centuries of the social pecking order.”
Tuesday, December 16th 2008 - 20:00 UTC
With zero rate, further cuts not an option for the US Fed

The US Federal Reserve has slashed its key interest rate from 1% to a range of between zero and 0.25% as it battles the country's recession. In its statement, the Federal Reserve warned that “the outlook for economic activity has weakened further”.
Monday, December 15th 2008 - 20:00 UTC
Major world banks caught in Madoff's hedge fund con

Some of the world's biggest banks have revealed they are victims of an alleged fraud which has lost 50 billion US dollars. Bernard Madoff, who was arrested on Thursday, has been charged with fraud in what is being described as one of the biggest-ever such cases.
Sunday, December 14th 2008 - 20:00 UTC
Wall Street hedge fund con: where are the US regulators?

A firm that counted itself a client of a broker accused of a 50 billion US dollars Wall Street con has criticised US regulators for what it says are “systemic failures”. Bramdean Alternatives said the charges against Bernard Madoff raised “fundamental questions” about the American financial regulatory system.
Friday, December 12th 2008 - 20:00 UTC
Bush, Obama support emergency aid for US car industry

The outgoing George Bush administration said it may be willing to give emergency aid to the ailing US car industry, keeping open the prospects for a bailout the day after Congress failed to approve a deal.
Friday, December 12th 2008 - 20:00 UTC
Ex Nasdaq chairman fraud could trigger hedge funds-run

The former chairman of the Nasdaq stock market has been arrested and charged with securities fraud, in what may be one of the biggest fraud cases yet. Bernard Madoff ran a hedge fund which ran up 50 billion US dollars of fraudulent losses and which he called “one big lie”, prosecutors allege.
Thursday, December 11th 2008 - 20:00 UTC
Republicans oppose US auto industry rescue agreement

The White House and leading Congressional Democrats reached on Wednesday a broad agreement on a 14 billion US dollars rescue package for the “Big Three” US auto manufacturers but Republicans are still holding out.