Archive for the ‘BUSINESS’ Category

U.S. – INDIA TRADE: Gets a boost with Geithner’s visit

TRADE RELATIONS AT HIGH POINT US Treasury Secretary Timothy Geithner has begun his first visit to India since assuming office. Speaking in Delhi, he praised the way India had handled the global financial crisis and said the US and India should “work more closely together”. Mr Geithner was...
April 14th, 2010 | BUSINESS | Read More

INSURANCE INDUSTRY’S: Antitrust exemption may end

ENDING MONOPOLY Democrats launched a drive at both ends of the Capitol on Wednesday to strip the insurance industry of its decades-old exemption from federal antitrust laws, part of an increasingly bare-knuckled struggle over landmark health care legislation sought by President Barack Obama. If enacted,...
October 21st, 2009 | BUSINESS | Read More

GLOBAL ECONOMY GROWING: IMF observes

BACK ON TRACK IS IT? The global economy is expanding again and financial conditions have improved significantly, the International Monetary Fund (IMF) has said. But in its latest World Economic Outlook, the IMF said the “pace of recovery is expected to be slow”. It added that the recovery...
October 1st, 2009 | BUSINESS | Read More

UNEMPLOYMENT HITS 9.7%: Highest in US in 26 years

TOUGH ROAD AHEAD The unemployment rate jumped almost half a point to 9.7 percent in August, the highest since 1983, reflecting a poor job market that will make it hard for the economy to begin a sustained recovery. While the jobless rate rose more than expected, the economy shed a net total of 216,000...
September 4th, 2009 | BUSINESS | Read More

US NATIONAL DEBT: Doubles over next decade

INCREASING DEBT A CONCERN The U.S. national debt will nearly double over the next 10 years as recession crimps government revenue while spending on retirement and medical benefits soars, official forecasts said on Tuesday. The White House now expects the 10-year budget deficit to reach $9.05 trillion,...
August 25th, 2009 | BUSINESS | Read More

OIL PRICES RISE: Highest spike of this year so far

OIL PRICES SPIKE Oil prices hit their highest level this year on Friday as traders looked past a mixed batch of U.S. economic data to focus on a strong rise in China’s bellwether stock index. Benchmark crude for October delivery was up $1.29 to $74.20 a barrel by afternoon European electronic trading...
August 21st, 2009 | BUSINESS | Read More

US ECONOMY: Recession near end, figures suggest

GLIMMER OF HOPE The U.S. recession appears to be near an end, government figures suggest, even as revisions to prior years’ data show that the downturn has been even more severe than previously thought.  Gross domestic product fell at a seasonally adjusted 1.0% annual rate April through June,...
August 8th, 2009 | BUSINESS | Read More

CASH FOR CLUNKERS: To be extended, Democrates

CASH FOR CLUNKERS CONTINUES The Senate will vote to extend the popular “cash-for-clunkers” program before going home on Friday, Majority Leader Harry Reid declared Tuesday in a strong signal the government won’t let the trade-in rebates die under the surging demand that has almost exhausted...
August 4th, 2009 | BUSINESS | Read More

CHINA STOCKS: Post biggest decline of year

BIGGEST ONE DAY DECLINE China’s main stock index has posted its biggest one-day decline this year, after one firm’s successful share issue raised fears of market overheating. Shares in Shanghai and Hong Kong tumbled on Wednesday as investors snapped up two newly listed mainland construction...
July 30th, 2009 | BUSINESS | Read More

CASHING STIMULUS: Details and deadlines

DEADLINES PASSING FAST Critics say that all of the moving parts of the Obama stimulus plan are barely moving at all—that the broad package of economy-goosing goodies isn’t being managed aggressively enough to produce results. The mortgage-modification program has barely scratched the surface of the...
July 29th, 2009 | BUSINESS | Read More