United States
United States“If the Euro fails, Europe fails”, warns Germany’s Merkel
German Chancellor Angela Merkel said the Euro is the glue that holds Europe together, signalling that an Irish bailout may be the price of preserving European unity.
New York City pent-house sold at record 10.259 US dollars a square foot
A New York City penthouse at 15 Central Park West sold to a mystery buyer for 40 million US dollars, representing the highest-priced residential real estate in the city at a record of 10,259 US dollars a square foot.
“The dollar strength rests on the fundamental strength of the US economy”
Following is a text of a letter from President Barack Obama to G20 leaders due to meet in Seoul from tomorrow. The letter was sent on Tuesday.
Obama arrives in Seoul but a G-20 summit consensus still out of reach
President Barack Obama tried to swing the G20 spotlight back onto global imbalances and take his own country's policies out of the glare as world leaders gathered in Seoul.
China and US exchange accusations ahead of the G20 summit in Korea
China kept up criticism of US easy-money policies, warning two days before a G20 world economic summit that Washington could destabilize the global economy and inflate asset bubbles.
Soybeans futures at their highest in two years on USDA report on US crop
Soybeans futures settled at their highest in more than two years on Tuesday after the Agriculture Department, USDA, slashed its forecast for the United States soybean production to 3.375 billion bushels from 3.408 billion bushels the previous month.
After 15 years U.S. supporter of Peruvian terrorist group free on parole
US citizen Lori Berenson who is serving a 20- year prison sentence in Peru for aiding Marxist rebels, was granted parole for a second time. Berenson is entitled to parole as she has served more than three quarters of her 20-year sentence for helping plan an attack on Peru’s Congress, Judge Jessica Leon ruled.
Bernanke explains what the Fed did and why: deflation and stagnation fears
Following the latest decision from the Fed to pump more money into the US economy which triggered a barrage of criticisms from overseas, chairman Ben Bernanke in a column published in The Washington Post explains what it did an why.
Obama admits voters’ frustration sends conciliatory message to Republicans
President Barack Obama said he believes US voters are feeling frustrated with the pace of economic recovery, after mid-term poll losses. The Republicans captured 60 seats to take control of the House of Representatives. The Democrats clung on to the Senate despite losing seats.
Fed decides to pump an additional 900 billion USD to the US economy
The Federal Reserve announced Wednesday it will pump 600 billion US dollars into the US economy by the end of June next year to try and boost the fragile recovery. The stimulus equates 75 billion USD a month, slightly more than economists had expected.
