United States
United StatesGoldman Sachs fined 550 million USD for giving clients “incomplete information”
Goldman Sachs has agreed to pay 550 million US dollars to settle civil fraud charges of misleading investors. The US financial watchdog, the Securities and Exchange Commission (SEC), said this was the biggest fine against a bank in its history.
US Senate approves biggest overhaul of financial regulation in decades
United States Senate has given final approval to the biggest overhaul of US financial regulation in decades. The reforms are intended to avert a repeat of the 2008 crisis that brought the world economy to the brink of collapse.
US May trade deficit, the highest in last 18 months
US trade deficit widened to its highest level in 18 months in May, driven by demand for imported cars, computers and clothing. The deficit increased by 4.8% to 42.3 billion US dollars, the largest since November 2008, Commerce Department data showed.
US no longer world’s great consumer; needs to target sustainable debt, says IMF
The US economy is recovering after the global economic crisis, but consumers and financial institutions remain cautious as weak housing markets, high unemployment, and risks in Europe remain a concern, the IMF staff said in a press conference that followed its annual review of the world’s largest economy.
Brazil largest meat processor JBS targeting US top pork producer
Shares of Smithfield Foods Inc., the top U.S. pork producer, jumped as much as 8.3% Tuesday on speculation the company may be a takeover target for Brazil-based meat processor JBS S.A. A report in the Brazilian publication Valor Economico, citing market sources said JBS may seek discussions over an acquisition with Smithfield.
Obama to host 18 African nations’ 50th independence celebration
US president Barack Obama whose father was from Kenya will be hosting next August a major event to celebrate the 50 years of independence of eighteen African countries, according to US sources.
Lion’s share of the drugs business goes to final distributors, says UN expert
The lion’s share (85%) of the gross profits from the cocaine business between South America and the United States ends in the wholesale and retail distribution network in the US according to Antonio Luigi Mazzitelli, head of the UN office on Drugs and Crime for Mexico and Central America.
US Central bank anticipates low rates for an “extended period”
Two days ahead of the Toronto G-20 summit the US Federal Reserve anticipates it will keep its main interest rate at a near zero level, for an “extended period”. The Federal Open Market Committee said on Wednesday that “subdued inflation” and other factors “are likely to warrant” keeping rates at their historic lows.
Jump in US claims for jobless benefits; May consumer prices drop 0.2%
The number of US workers filing new claims for jobless benefits jumped last week after three straight declines, the Labour Department said on Thursday. First-time claims rose by 12,000 to a seasonally adjusted 472,000, the highest level in a month.
Mrs. Clinton promises to sponsor US/Colombia trade agreement
US Secretary of State Hillary Clinton promised this week after meeting with Colombian president Alvaro Uribe that when she returns to Washington she will begin “a very intensive effort to try to obtain the votes to get the free trade agreement with Colombia finally ratified”.
