Stock markets in Asia and Europe surged Friday as investors cheered the U.S. central bank’s aggressive actions to boost the sluggish American economy. The Hong Kong index advanced nearly 3 percent and the Tokyo market almost 2 percent. Stock indexes in London, Frankfurt and Paris jumped higher, while key exchanges in the U.S. continued their […]
World Stock Indexes Jump on US Economic Boost
Posted September 14th, 2012 at 10:35 am (UTC-5)
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India Opens Huge Retail Sector To Foreign Investment
Posted September 14th, 2012 at 10:35 am (UTC-5)
India’s government is opening its huge retail market to foreign retailers such as Wal-Mart, Tesco, and Carrefour. Friday’s action allows foreign firms to own a majority stake in stores that sell more than one brand. Opponents of the action said it would hurt India’s many very small retailers and cost many jobs. Supporters say foreign […]
US Central Bank Launches New Economic Stimulus
Posted September 13th, 2012 at 3:25 pm (UTC-5)
The U.S. central bank launched new measures Thursday to try to stimulate the weak U.S. economy, even as it predicted that the country’s economic fortunes would improve over the next two years. The Federal Reserve said it would buy $40 billion a month of securities supported by real estate loans in its latest effort to […]
US Central Bank Launches New Economic Stimulus
Posted September 13th, 2012 at 1:35 pm (UTC-5)
The U.S. central bank launched new measures Thursday to try to stimulate the weak U.S. economy. The Federal Reserve said it would buy $40 billion a month of securities supported by real estate loans in its latest effort to boost economic growth and spur slack hiring in the country’s labor market. And, at least through […]
US Central Bank Weighs New Economic Stimulus
Posted September 13th, 2012 at 10:00 am (UTC-5)
The U.S. central bank is deciding whether to launch new measures to stimulate the weak U.S. economy. After a two-day meeting, Federal Reserve officials are set to announce any policy changes at mid-day Thursday, with Chairman Ben Bernanke later making a statement on the Fed’s projections for the American economy, the world’s largest. Bernanke last […]
US Central Bank Weighing New Economic Stimulus
Posted September 12th, 2012 at 3:15 pm (UTC-5)
Policy makers at the U.S. central bank are weighing whether to adopt new policies to try to boost the country’s sluggish economy. Officials at the Federal Reserve started a two-day meeting Wednesday and plan to announce any actions they take at mid-day Thursday. The U.S. economy is the world’s largest. But it has struggled to […]
US-based Apple Unveils New iPhone 5 Model
Posted September 12th, 2012 at 2:35 pm (UTC-5)
U.S. technology giant Apple has unveiled the latest version of its popular smartphone, the new iPhone 5 model that the company says is thinner and lighter, with a bigger screen, than its last model released nearly a year ago. Apple unveiled the new smartphone at a company news conference Wednesday in San Francisco. It is […]
Poverty Hits One Out of Seven Americans
Posted September 12th, 2012 at 12:20 pm (UTC-5)
About one out of seven people in the United States was living in poverty in 2011, according to a government study. U.S. Census Bureau experts define “poverty” as an income below $23,021 for a family of four. The study says 46.2-million Americans live in poverty, and the 15-percent poverty rate is a very slight decline […]
US Pays $104 Million to Tax Cheat Whistleblower
Posted September 11th, 2012 at 3:55 pm (UTC-5)
U.S. tax authorities have awarded $104 million to a former banker at UBS after he told them how the Swiss-based bank help thousands of Americans evade taxes through their overseas accounts. Lawyers for the whistleblower, Bradley Birkenfeld, announced the award Tuesday. They said it was the largest ever handed out by the U.S. tax agency, […]
US Could Face Another Rating Downgrade
Posted September 11th, 2012 at 12:55 pm (UTC-5)
Moody’s Investor Services says it may downgrade the U.S. credit rating unless Congress reaches a deal to cut U.S. debt next year. Rival Standard & Poor’s cut Washington’s credit rating a year ago following hyper-partisan wrangling that pushed the United States to the brink of default on its loans. Moody’s and other agencies are watching […]
