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By Julie CHABANAS Four months after barely avoiding a catastrophic default, the world’s largest economy is once again on the verge of a major fiscal crisis. President Joe Biden’s Democrats are engaged in a bitter feud with Republican rivals in Congress over spending bills, which, if not passed into law soon, may trigger a government shutdown. US lawmakers have until midnight on September 30 to reach an agreement, before funding for government services is due […]
TOKYO, Japan (AFP) — Tokyo stocks opened higher on Monday, helped by a cheaper yen and optimism over the US economy following strong jobs data that also saw Wall Street shares rise. The benchmark Nikkei 225 index was up 0.42 percent, or 87.74 points, at 20,876.13 in early trade, while the broader Topix index rose 0.60 percent, or 9.33 points, to 1,573.96. Wall Street shares ended mostly higher after stronger-than-expected US jobs data. The dollar […]
by Maggy Donaldson Agence France Presse WASHINGTON, United States (AFP) — US President Donald Trump has warned the US economy would collapse if he were impeached, as legal chaos roiling the White House had experts saying his presidency is under threat. Speaking on the eve of a closely watched meeting of central bank chiefs Friday, Trump also took aim again at his Attorney General, Jeff Sessions, prompting a rare retort from the embattled justice department […]
WASHINGTON, United States (AFP) — New claims for US unemployment benefits dropped last week, remaining near their lowest level in 45 years as employers struggle to fill open positions, according to government data released Thursday. Though the weekly figures are volatile, the data is consistent with reports from the Federal Reserve and business groups indicating the supply of available workers is drying up as the unemployment rate reaches historic lows. The result also pointed to […]
https://youtu.be/5az27vleKmQ by Agence France Presse Hundreds of thousands of American forced out of their homes, the Stock Market tanking and the economy losing 700 thousand jobs a month. That was the bleak economy Barack Obama inherited as he took office in 2009. Jared Bernstein, Economist and Advisor to Obama administration from 2009 to 2011, said: “Our GDP was declining at a rate of 8 percent, which is huge. Technically you call that a nightmare, […]
HONG KONG, China | AFP | — Asian markets climbed Tuesday as mixed readings on the US economy and comments from a top Federal Reserve official raised expectations that US interest rate rises would be gradual. The gains came despite a negative lead from New York and Europe where traders are awaiting key events this week, including Chinese growth data, the last presidential debate and a European Central Bank policy meeting. A below-par reading […]
WASHINGTON, United States (AFP) – by Douglas Gillison The US labor market slowed precipitously in August but continued a six-year streak of monthly job creation, according to figures released Friday by the Labor Department. The economy added 151,000 new positions for the month, a sharp drop from July’s revised total of 275,000 new non-farm positions and also well below analyst expectations. Leading up to Friday’s disclosure, markets had been intently awaiting the new numbers as […]
WASHINGTON, United States (AFP) – by Douglas Gillison The US economy saw robust job creation in July, largely surpassing analyst expectations, while the unemployment rate remained stable at 4.9 percent, the Labor Department reported Friday. The new numbers were also accompanied by upward revisions for the months of May and June in a sign that the job market in the world’s largest economy is healthier than previously thought. The strong figures also come in […]
WASHINGTON, United States (AFP) by Douglas Gillison The Federal Reserve left key interest rates untouched Wednesday but acknowledged improved economic performance, suggesting a rate increase may still be on the horizon in 2016. Policy makers had not been expected to raise rates, out of concern that a hike could stifle fragile growth. Their improving view on economic conditions left open the possibility of an increase in the benchmark federal funds rate, currently at 0.25-0.50 percent, […]
(Reuters) – The U.S. House of Representatives narrowly approved a one-year extension of federal borrowing authority on Tuesday after Republicans caved into President Barack Obama’s demands to allow a debt limit increase without any conditions. The 221-201 vote, carried mainly by Democrats, marked a dramatic shift from the confrontational fiscal tactics House Republicans have used over the past three years, culminating in last October’s 16-day government shutdown. It came after House Republicans repudiated House Speaker […]
