US ECONOMY

  • Third-quarter US economic growth strongest in 11 years 2 days ago

    Washington: The US economy grew at a 5 per cent clip in the third quarter, its quickest pace in 11 years and the strongest sign yet that growth has decisively shifted into higher gear. Some of the strength appears to have been sustained, with other data on Tuesday showing consumer spending...
  • Indian trade policies delayed American export to India: USITC 3 days ago

    Washington: Restrictive Indian trade policies have delayed American export and investment to India, a USITC report has said with the US lawmakers asking the Narendra Modi government to address these significant areas of concern as both countries work to strengthen economic relations. "US exports to and investment in India would...
  • US economy is now healthier, poised to lead and succeed: Barack Obama October 3, 2014

    Washington: Asserting that the once-shattered US economy was now "healthier" and had made "steady" and "real" progress over the past few years, President Barack Obama has said that it was America and not India or China that was the most attractive investment destination in the world. "Because of all these things,...
  • US economy contracts sharply, consumer spending revised down June 25, 2014

    Washington: The US economy contracted at a much steeper pace than previously estimated in the first quarter to record its worst performance in five years, but there are indications that growth has since rebounded strongly. The Commerce Department said on Wednesday gross domestic product fell at a 2.9 per cent annual...
  • US fourth-quarter growth raised to 2.6 per cent March 27, 2014

    US economic growth was a bit faster than previously estimated in the fourth quarter, displaying underlying strength that could bolster views that the slowdown in activity early in the year would be temporary. Gross domestic product expanded at a 2.6 per cent annual rate, the Commerce Department said on Thursday, up...
  • US: House GOP leaders unveil bill to counter senate debt plan October 15, 2013

    Washington: The House Grand Old Party (GOP) leaders unveiled their own plan on Tuesday to counter an emerging Senate deal to reopen the government and forestall an economyrattling default on US obligations. Top Republicans unveiled a plan that would suspend a new tax on medical devices for two years and take...
  • India must have a contingency plan if US defaults on debt: Assocham October 3, 2013

    New Delhi: India must have a "contingency plan" in place to ringfence the country's economy if the political showdown in the US leads to a default on its international monetary obligations, industry body Assocham said. "As of now, the indications suggest there is a prolonged battle while there are only two...
  • US Federal Reserve surprises, sticks to bond-buying stimulus as it cuts growth outlook September 19, 2013

    The US Federal Reserve defied investor expectations on Wednesday by postponing the start of the wind down of its massive monetary stimulus, saying it wanted to wait for more evidence of solid economic growth. Investors responded by propelling US stocks to record highs and driving down bond yields. Yields on US...
  • Obama: No tax reform without spending to spur jobs August 3, 2013

    Washington: President Barack Obama says there are no gimmicks to grow the economy just difficult steps that require Washington's focus. In his weekly radio and Internet address, Obama is promoting a plan he says can break through gridlock. He's calling it a grand bargain for the middle class. Obama says he's...
  • Ben Bernanke tells Congress Fed flexible on bond buying July 18, 2013

    Washington: Federal Reserve Chairman Ben Bernanke said on Wednesday the US central bank still expects to start scaling back its massive bond purchase program later this year, but he left open the option of changing that plan if the economic outlook shifted. While sticking closely to a timeline to wind down...
  • Democrat predicts House will pass Senate immigration bill July 1, 2013

    Washington: The Republicancontrolled House of Representatives will bow to political pressure and pass the immigration bill approved by the Democraticled Senate by the end of the year, Democratic Senator Charles Schumer predicted on Sunday. Schumer, a member of the bipartisan Senate group that crafted the immigration measure, said House Republicans who...
  • US Senate passes sweeping immigration legislation June 28, 2013

    Washington: The US Senate approved a landmark immigration bill on Thursday that would provide millions of undocumented immigrants a chance to become citizens, but the leader of the House of Representatives said the measure was dead on arrival in the House. In a rare show of bipartisanship, the Democraticcontrolled Senate...
  • Gold falls to threeweek lows on stronger dollar May 15, 2013

    London: Gold fell for the fifth straight session on Wednesday, hitting a threeweek low as the dollar strengthened to a sixweek high versus the euro after weak euro zone data. While gold has recovered around 7 per cent from a twoyear trough of $1.321.35 an ounce hit in midApril, its...
  • Proposed US immigration bill gives preference to better educated people May 5, 2013

    Washington: US immigration authorities would give preference to bettereducated and trained visaseekers who can contribute to the American economy under a lessnoticed provision of the immigration bill in the US Congress. The bipartisan bill in the US Senate would rewrite the halfcenturyold standards that control legal immigration to favor skills over...
  • Obama to contribute 5 pc of his salary to US Treasury April 4, 2013

    Washington: At a time when the US is facing economic strain and automatic budgetary cuts is in place, President Barack Obama will return five per cent of his salary amounting to $20,000 to the Department of Treasury. The salary of the US President is $400,000 per annum (over Rs 2...
  • US: Dow Jones soars to an all-time high March 6, 2013

    New York: About an hour after the Dow Jones industrial average hit a record high on Tuesday, Overland Park, Kansas-based financial adviser Brad Stratton got an e-mail from a client asking how she could "make hay while the sun shines." Stratton, a former Merrill Lynch broker who set up his...
  • Obama presses Congress for deal to end US spending cuts March 2, 2013

    Washington: Just hours after across-the-board spending cuts officially took effect, President Barack Obama pressed Congress on Saturday to work with him on a compromise to halt a fiscal crisis he said was starting to "inflict pain" on communities across the United States. Obama and a bipartisan group of congressional leaders...
  • Growth of Indian middle class good for US economy: Kerry February 21, 2013

    Washington: US Secretary of State John Kerry on Wednesday said that emerging middle class in countries like India means more jobs and income for America while making his first major foreign policy speech as the top US diplomat. "As the emerging middle class in India, the world's largest democracy, buys our...
  • Sensex, Nifty end at 2013 lows February 15, 2013

    Mumbai: Key equity benchmarks ended trade in the red however off the day's low. The BSE Sensex closed down 61.97 points at 19435.21 after touching an intraday low of 19,381.82. The NSE 50share Nifty ended trade flat at 5887.40, down 0.16 per cent. Both the indices are at their 2013...
  • Barack Obama pushes for stronger economy, growth February 13, 2013

    US President Barack Obama delivered his second State of the Union address on a positive note. While speaking of a resurgent America, he said that it was time to bring more manufacturing jobs to US shores, which got a shoutout from Apple CEO Tim Cooks in the audience. ...
  • Full text: Obama's State of the Union address February 13, 2013

    The text of US President Barack Obama's State of the Union address, released by the White House as prepared for delivery: Mr Speaker, Mr Vice President, Members of Congress, fellow citizens: Fiftyone years ago, John F Kennedy declared to this chamber that "the Constitution makes us not rivals for power but partners...
  • Obama presses for jobs in his first State of the Union address February 13, 2013

    Washington: US President Barack Obama declared the nation is unquestionably stronger on Tuesday night in in his first State of the Union address since winning reelection, though he conceded America's economic revival is an "unfinished task". He challenged a deeply divided Congress to compromise in the country's interest on ways...
  • The aspirations of a billion people of India will ensure prosperity: Mukesh Ambani February 11, 2013

    In an exclusive interview to CNN, Reliance Industries Limited Chairman Mukesh Ambani said that he was bullish on India and that he was more than thrilled with the India growth story. Speaking to Fareed Zakaria, Mukesh Ambani added that the aspirations of the Indian people will translate into prosperity. Below is an...
  • US: Barack Obama says fiscal deficit top priority November 10, 2012

    Flush with reelection vigor, US President Barack Obama took on the fiscal deficit issue calling for the House of Republicans to immediately pass a bill already approved by the Senate that would maintain current tax rates for middleclass Americans, while increasing taxes of wealthier citizens. Obama also said that fiscal deficit...
  • Can President Barack Obama save the US economy? November 8, 2012

    The Republicans have offered newly reelected US President Barack Obama a shortterm fix to the so called fiscal cliff, but insisted they would not cave in to tax increases to boost revenues. ...
  • US: Obama heads back to a divided government November 8, 2012

    Washington: One day after a bruising, mixedverdict election, President Barack Obama and Republican House Speaker John Boehner both pledged on Wednesday to seek a compromise to avert looming spending cuts and tax increases that threaten to plunge the economy back into recession. Senate Majority Leader Harry Reid, DNev said "Of...
  • How Obama victory could affect areas of US economy November 8, 2012

    Washington: Upperincome Americans may face a tax increase. Auto fuel economy standards might be raised. Stocks of construction and engineering companies could benefit. America's decision to reelect President Barack Obama over Mitt Romney will affect all that and other elements of the U.S. economy and financial system from the health...
  • US Obama faces fresh challenge with 'fiscal cliff' November 7, 2012

    Washington: Barack Obama won reelection on Tuesday night, but the president faces a fresh challenge confronting the "fiscal cliff," a mix of tax increases and spending cuts due to extract some $600 billion from the economy barring a deal with Congress. At stake are two separate issues individual tax...
  • Watch: Highlights of Obama vs Romney debate October 4, 2012

    In a showdown at close quarters, President Barack Obama and Republican Mitt Romney sparred aggressively in their first campaign debate on Wednesday night over taxes, deficits and strong steps needed to create jobs in a sputtering national economy. The economy dominated the evening, as it has the race for the...
  • Obama says created millions of jobs, Romney says 23 mn jobless October 4, 2012

    Denver: In a showdown at close quarters, President Barack Obama and Republican Mitt Romney sparred aggressively in their first campaign debate on Wednesday night over taxes, deficits and strong steps needed to create jobs in a sputtering national economy. "The status quo is not going to cut it," declared the...