On Tuesday Federal Reserve Chairman Ben Bernanke said the recession may be easing and the sharp decline in the economic activity may be on the decline due to the ‘tentative signs’ that are present.
The U.S Treasury Department, on Friday, released the budget details for March 2009 showing a deficit of $192.27 billion, sharply higher than budget deficit of $48.8 billion reported in the corresponding period last year.
President Barack Obama, saying he was committed to a strong U.S. auto industry, announced on Thursday the government would buy 17,600 new fuel-efficient vehicles from ailing American automakers by June 1.
President Barack Obama, saying he was committed to a strong U.S. auto industry, announced on Thursday the government would buy 17,600 new fuel-efficient vehicles from ailing American automakers by June 1.
Wells Fargo & Co said it expects to post a record $3 billion first-quarter profit, causing its shares to soar 31.7 percent and providing a welcome jolt to the stock market and a still-troubled banking sector.
President Barack Obama, saying he was committed to a strong U.S. auto industry, announced on Thursday the government would buy 17,600 new fuel-efficient vehicles from ailing American automakers by June 1.
Biotech firm Genentech Inc, recently acquired by Roche Holdings AG for $47 billion, said Wednesday that it has pulled its psoriasis drug Raptiva from the U.S. market because of its association with rare, but often fatal brain infection.
Somali pirates hijacked a U.S.-flagged, Danish-owned container ship on Wednesday with 20 American sailors on board, but a Pentagon official said the crew appeared to have retaken control of the vessel.
The United States has long served to draw top talent from other countries, particularly into its Information Technology sector, but a new push from lawmakers may limit the number of new workers that can enter the country.
Shares of Bank of America, Citigroup, Wells Fargo declines
Shares of the largest banks in United States tumbled on Wall Street after Calyon analyst Mike Mayo downgraded the stocks with an underperform rating.
Five central banks in Europe, Japan and the United States said on Monday they have agreed to currency swap lines that enable the Federal Reserve to provide foreign currencies to U.S. financial institutions.
Several major banks face exposure to automaker Chrysler LLC, which may need to file for bankruptcy if it doesn’t come through with a plan that will convince the U.S. government to lend it additional funds to stay afloat.
A pair professors expressed concern that it would not be proper for banks who have received government bailout funds to buy the same type of toxic assets which have caused them problems previously as part of a government public-private investment program.
President Barack Obama told Europe on Friday it must do more to help the United States win the war in Afghanistan, looking to leverage his huge popularity here to wring concessions from NATO allies.
U.S. lawmakers are pushing to raise U.S. defenses against cyber attacks, allowing the government to write and implement security guidelines for confidential industry.
US President Barrack Obama and Russian President Dmitry Medvedev committed to launch negotiations on a new nuclear arms treaty to reduce nuclear warheads on Wednesday, issuing a broader cooperation pact across a wide range of policy areas.
Russia and the United States will pursue a new deal to cut nuclear warheads, presidents Dmitry Medvedev and Barack Obama said on Wednesday, making good on a pledge to rebuild relations from a post-Cold War low.
U.S. President Barack Obama said on Wednesday there was enormous consensus between the world's largest developed and emerging economies on plans to haul the world out of the deepest downturn since the 1930s.
The Obama administration is seeking to ease General Motors Corp into a controlled bankruptcy by persuading some creditors to agree to a plan that would divide the company into two pieces, the New York Times reported on Wednesday.
Defaults on privately insured U.S. mortgages fell nearly 16 percent in February from the month before but were still half again higher than a year earlier.
The Obama Administration says it will work with General Motors Inc to see the automaker eventually get a fresh start, promising more aggressive attempts to improve the business and leaving the door open for bankruptcy.
An economic indicator which accounts for two thirds of all U.S. domestic economic activity has staged a rebound in the first two months of the year after a precipitous drop in the previous two quarters.
