Us Economy

  • US fourth-quarter growth raised to 2.6 per cent 27-03-2014 06:22 PM

    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,...
  • US: House GOP leaders unveil bill to counter senate debt plan 15-10-2013 08:57 PM

    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 economy-rattling default on US obligations. Top Republicans unveiled a plan that would suspend a new tax on medical devices for two years and...
  • India must have a contingency plan if US defaults on debt: Assocham 03-10-2013 06:27 PM

    New Delhi: India must have a "contingency plan" in place to ring-fence 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...
  • US Federal Reserve surprises, sticks to bond-buying stimulus as it cuts growth outlook 19-09-2013 08:10 AM

    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...
  • Obama: No tax reform without spending to spur jobs 03-08-2013 07:38 PM

    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...
  • Ben Bernanke tells Congress Fed flexible on bond buying 18-07-2013 10:20 AM

    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...
  • Democrat predicts House will pass Senate immigration bill 01-07-2013 03:07 AM

    Washington: The Republican-controlled House of Representatives will bow to political pressure and pass the immigration bill approved by the Democratic-led 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...
  • US Senate passes sweeping immigration legislation 28-06-2013 07:28 AM

    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 Democratic-controlled Senate...
  • Gold falls to three-week lows on stronger dollar 15-05-2013 05:10 PM

    London: Gold fell for the fifth straight session on Wednesday, hitting a three-week low as the dollar strengthened to a six-week high versus the euro after weak euro zone data. While gold has recovered around 7 per cent from a two-year trough of $1.321.35 an ounce hit in mid-April, its...
  • Proposed US immigration bill gives preference to better educated people 05-05-2013 01:07 PM

    Washington: US immigration authorities would give preference to better-educated and trained visa-seekers who can contribute to the American economy under a less-noticed provision of the immigration bill in the US Congress. The bi-partisan bill in the US Senate would rewrite the half-century-old standards that control legal immigration to favor skills...
  • Obama to contribute 5 pc of his salary to US Treasury 04-04-2013 09:46 AM

    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 06-03-2013 08:30 AM

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  • Sensex, Nifty end at 2013 lows 15-02-2013 09:39 AM

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  • Barack Obama pushes for stronger economy, growth 13-02-2013 09:10 AM

    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 shout-out from Apple CEO Tim Cooks in the audience. ...
  • US: Barack Obama says fiscal deficit top priority 10-11-2012 09:56 AM

    Flush with re-election 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 middle-class Americans, while increasing taxes of wealthier citizens. Obama also said that fiscal...
  • Can President Barack Obama save the US economy? 08-11-2012 11:15 AM

    The Republicans have offered newly re-elected US President Barack Obama a short-term 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 08-11-2012 07:09 AM

    Washington: One day after a bruising, mixed-verdict 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, D-Nev said "Of...
  • How Obama victory could affect areas of US economy 08-11-2012 03:40 AM

    Washington: Upper-income 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 re-elect President Barack Obama over Mitt Romney will affect all that and other elements of the U.S. economy and financial system - from the...
  • US Obama faces fresh challenge with 'fiscal cliff' 07-11-2012 11:50 AM

    Washington: Barack Obama won re-election 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...
  • Fitch warns of US downgrade if no budget deal 29-11-2011 07:58 AM

    New York: Fitch Ratings gave the United States until 2013 to come up with a "credible plan" to tackle its ballooning budget deficit or risk a downgrade of the country's coveted AAA rating. The ratings agency on Monday revised to negative from stable the outlook on the US credit rating...
  • Wall Street rage: what next? 17-11-2011 08:51 AM

    A US court ruled the Occupy Wall Street protesters in New York could return to Zucotti Park with one major difference - no tents. ...
  • Obama presses jobs plan passage to bridge income gap 30-10-2011 02:57 AM

    Washington: US President Barack Obama on Saturday urged Congress to pass the administration's stalled jobs plan to speed up US economic growth and reduce the widening income gap. Obama cited a latest Congressional Budget Office (CBO) report to show that the US middle class has lost ground while the wealthiest...
  • US stocks surge on European debt deal 27-10-2011 07:28 PM

    New York: Stocks are surging in early trading after European leaders agreed on a deal to slash Greece's debt. The US economy grew between July and September at its fastest rate in a year, and Dow Chemical Co became the latest big company to report stronger earnings. Global markets soared...
  • Obama gets slight boost from jobs speech: poll 15-09-2011 09:21 AM

    Washington: President Barack Obama's approval rating got a small lift after he unveiled a jobs plan last week, keeping him ahead of all potential Republican rivals in the 2012 election, a poll said on Wednesday. The percentage of Americans who view Obama's performance favorably edged up to 47 per cent...