How Russian Hackers Stole the Nasdaq
2014-07-22 06:18:53 UTC
In October 2010, a Federal Bureau of Investigation system monitoring U.S. Internet traffic picked up an alert. The signal was coming from Nasdaq (NDAQ). It looked like malware had snuck into the company’s central servers. There were indications th...
Detroit showing signs of recovery ahead of bankruptcy trial
2014-07-20 22:18:51 UTC
Detroit neighbourhoods are being relit, its vacant homes are being sold off or torn down, its public transportation is cleaner and more often on schedule and the city has renegotiated some burdensome union contracts.
In the little more than a y...
Microsoft Cuts 18,000 Jobs | Its Biggest Ever Cuts
2014-07-17 14:07:34 UTC
Microsoft confirmed it will cut up to 18,000 jobs over the next year, part of the tech titan's efforts to streamline its business under new CEO Satya Nadella.
In a statement released Thursday, Microsoft says about 12,500 of the professional and...
Obama Announces Expanded Sanctions Against Russia
2014-07-17 04:57:52 UTC
The Obama administration is imposing new, deeper sanctions on Russia for its intervention in Ukraine, targeting Russian banks and energy and defense firms.
“Given its continued provocations in Ukraine, today I have approved a new set of sanctio...
The Squeeze on Renters Is Getting Worse
2014-07-11 19:13:00 UTC
Summer’s traditionally when moving vans clog the streets as people try to get settled in new homes and apartments before the school year starts. Renters looking for an affordable lease this year may have a tough time finding one.
Obama seeks $3.7bn in extra funding to address child migrant crisis
2014-07-08 19:40:08 UTC
Fast-track deportations and ankle bracelets will be deployed under a larger-than-expected White House plan to deal with an immigration crisis prompted by the arrival of more than 52,000 children at the southern US border since last October, traffi...
Puerto Rico: Tropical Tax Haven for America's Super-Rich
2014-06-27 18:57:51 UTC
It’s 2 a.m. at the La Factoria bar in Puerto Rico’s Old San Juan, a hipster joint with a sagging couch, tile floors, and Christmas lights that wouldn’t be out of place in Brooklyn’s Williamsburg. While Get Lucky plays, tipsy couples slink out the ...
US manufacturing grows faster than expected in June
2014-06-24 06:30:33 UTC
The US manufacturing sector grew faster than expected in June reaching levels unseen in four years, according to a key industry report released on Monday.
After shaking off the after effects of the US's unusually harsh winter, financial data fi...
Federal Reserve cuts growth forecasts
2014-06-19 05:38:13 UTC
The Federal Reserve insisted that the US economy is strong enough to withstand a cut to its stimulus program, despite being forced once again to cut its growth forecasts.
In its updated economic forecast on Wednesday, the Federal Reserve's pict...
IMF slashes estimate for US economic growth in 2014
2014-06-16 16:17:48 UTC
The International Monetary Fund slashed its forecast for US economic growth on Monday, citing a harsh winter, problems in the housing market and weak international demand for the country's products.
In its annual review of the US economy, the I...
Oil markets spike on Iraq concerns
2014-06-15 18:18:54 UTC
The price of Brent crude spiked on Friday over concerns about the ongoing insurgency in Iraq.
Oil prices settled down, but at $4 per barrel higher than at the beginning of the week.
Reassurances about the flow of oil supplies went some way t...
Harsh winter: US economy one quarter away from recession
2014-05-29 17:53:59 UTC
The US economy contracted for the first time in three years in early 2014 after a much worse performance than originally feared.
Washington's commerce department said the world's biggest economy shrank at an annual rate of 1% during the first q...
Hyperinflation Idea: Printing Money for aid
2014-05-12 07:00:58 UTC
In much of the Western world, two highly successful economic policy initiatives are coming to an end. Quantitative easing, the creation of money by central banks to purchase financial assets, is likely to have run its course in most countries by t...
Morgan Stanley's profits jump but Goldman Sachs's fall
2014-04-18 21:26:57 UTC
<h3>US banking giants Goldman Sachs and Morgan Stanley have reported contrasting results for the first quarter of the year.</h3>Goldman Sachs' net earnings fell to $2.03bn from $2.26bn after a drop in revenues from its bonds, currency and trading ...
IMF were "deeply disappointed" if US Congress failure to act
2014-04-13 01:03:47 UTC
The 188-country International Monetary Fund concluded weekend meetings with pledges to work toward faster growth that will alleviate still-high unemployment.
The United States came in for criticism in that statement.
It said officials were "de...
U.S. Global Growth Engine Putt-Putts Instead of Purring
2014-04-11 16:29:07 UTC
The U.S. is resuming its role as an engine of global growth, this time one that just putt-putts along instead of purring.
As the International Monetary Fund declares the strengthening U.S. economy is providing a “major impulse” to the world, ec...
Obama Banks on Sebelius Leaving to Take Heat Off Party
2014-04-11 16:13:26 UTC
The departure of Kathleen Sebelius from President Barack Obama’s cabinet removes a focal point for criticism over Obamacare’s troubled rollout, right at a moment when the White House can blunt attacks with enrollment numbers that exceeded targets....
California Ranked Lowest in Government Data Access Study
2014-04-09 08:41:02 UTC
California, the U.S. state with the largest population and budget, offers the least website access to its government spending data, according to an analysis by the New Jersey Public Interest Research Group.
Alaska and Idaho also got failing gra...
Unemployment insurance: Boehner may not allow vote on Bill
2014-04-09 09:31:30 UTC
A bipartisan attempt to restore unemployment insurance to more than two million out-of-work Americans appeared likely to fall victim to deadlock in Congress on Tuesday.
The Senate passed legislation on Monday night that would temporarily extend...
Obama healthcare 'here to stay'
2014-04-02 07:21:20 UTC
US President Barack Obama says his embattled signature healthcare programme is "here to stay" after more than 7 million Americans signed up.
He told reporters the law, nicknamed Obamacare, represented progress and benefitted the economy.
Oil slightly lower ahead of US stockpiles report
2014-03-19 06:37:57 UTC
The price of oil was down slightly Wednesday as energy markets waited for the latest figures on U.S. crude and fuel stockpiles.
Benchmark U.S. crude for April delivery was down 20 cents at $99.50 a barrel at 0605 GMT in electronic trading on th...
Yellen to enter spotlight as new leader of Fed
2014-03-19 06:32:08 UTC
WASHINGTON (AP) — Investors will be watching closely Wednesday for any hints of how a Janet Yellen-led Federal Reserve might differ from the path set by her predecessor, Ben Bernanke.
The Yellen era will begin in earnest when the Fed ends two d...
US factory output rose in Feb. by most in 6 months
2014-03-17 18:16:12 UTC
WASHINGTON (AP) — U.S. factory output rebounded strongly in February after harsh winter storms caused a steep drop-off in production in January. Manufacturers produced more autos, home electronics and chemicals.
The Federal Reserve said Monday ...
US producer prices dip 0.1 percent in February
2014-03-14 17:28:14 UTC
WASHINGTON (AP) — The prices companies receive for their goods and services fell slightly in February, the latest sign that inflation is tame.
The producer price index, which measures price changes before they reach the consumer, dropped 0.1 pe...
Boehner questions Senate unemployment deal
2014-03-14 17:23:46 UTC
WASHINGTON (AP) — House Speaker John Boehner questioned the feasibility of a bipartisan Senate deal to renew expired benefits for the long-term unemployed, a remark that seemed to suggest the agreement could be in trouble in the House.