Democrat Runs on Obamacare—Without Saying "Obamacare"
2014-08-21 09:31:31 UTC
A Democratic politician fighting for reelection is using a strategy few would have imagined six months ago: Arkansas Senator Mark Pryor just released a new ad boasting about his yea vote for Obamacare.
Well, sort of. The ad never mentions the A...
BoA to pay $17bn settlement over questionable mortgages
2014-08-21 09:24:04 UTC
Bank of America has reached a record settlement of nearly $17bn to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter have said.
US jobless aid applications rise but claims remain near pre-recession levels
2014-08-16 17:45:37 UTC
More people applied for US unemployment benefits last week, although jobless claims continue to be close to pre-recession levels.
Weekly applications for unemployment aid climbed 21,000 to a seasonally adjusted 311,000, the Labor Department sai...
Dire Obamacare Prediction Falls Hilariously Flat
2014-08-13 21:05:35 UTC
The story of Obamacare over the last year has in many ways been a story about how the various claims made by conservatives about why the law would collapse have systematically fallen apart as the Affordable Care Act has gone into effect. The websi...
The Church of Superfoods Gains More Believers
2014-08-13 20:53:03 UTC
For American eaters who long to take control of their health, nothing offers the perception of power quite like “superfoods.” These discussion always start with kale but stretch far beyond, into an almost religious reverence for produce with a nut...
US: 200,000 jobs a month for six months in a row
2014-08-01 22:22:00 UTC
The US added another 209,000 new jobs in July, the sixth straight month of 200,000 plus jobs growth, as the unemployment rate inched up to 6.2%.
The figure was slightly weaker than expected but still marks the first time since 1997 that the US ...
House Republicans vote to sue Barack Obama over Obamacare
2014-07-31 22:45:08 UTC
The Republican-led US House of Representatives has cleared the way for a lawsuit accusing Barack Obama of overstepping his authority in carrying out his healthcare reforms.
The 225-201 vote, along party lines, to authorise the suit will allow H...
Bank of America's Countrywide to pay $1.3bn to US
2014-07-31 00:20:34 UTC
Bank of America's Countrywide business must pay the US government $1.3bn (£769m) for selling defective home loans, a New York judge has ruled.
Countrywide was found guilty of selling bad loans, as part of a programme called "hustle", to US mort...
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....