Wells Fargo profits dip as it reserves for oil loans

Wells Fargo reported a dip in first-quarter profits Thursday as the drag of lower interest rates and the energy rout offset the benefit of higher overall lending.

The talk of US economic decline is political hot air: Barack Obama

The talk of US economic decline is political hot air: Barack Obama

Describing America as the strongest and most durable economy, President Barack Obama Wednesday rejected as "political hot air" the assessment by many that the world's largest economy is on decline.

Obama proposes closing tax loopholes on the wealthiest

US President Barack Obama proposed to close tax loopholes for the wealthiest Americans as part of the new economic strategy he plans to unveil in this year's State of the Union address.

India less vulnerable to global shocks than before: HSBC

India, which witnessed substantial financial volatility last year over talks of US Fed's plan to taper its bond buying programme to boost American economy, has improved its external balance position and is less vulnerable than before, an HSBC report says.

Oil prices down in Asian trade

Oil prices eased in Asia Monday on softer US demand, but tensions in the Middle East where jihadists have declared an Islamic state straddling Iraq and Syria will likely keep prices high, analysts said.

Businesses created 8 million new jobs in US: Obama

Barack Obama said that businesses have created over eight million new jobs in America due to his new economic policies.

India's holding in US government securities rises to $59.9 bn

India increased its exposure to American government securities to USD 59.9 billion in October, the highest in four months, notwithstanding uncertainties in the world's largest economy.

Obama says his administration stabilised American economy

US President Barack Obama has said that his administration has stabilised the country`s economy, which is growing again and producing jobs.

US economy starting to pick up steam: Obama

US President Barack Obama Friday said the American economy is starting to pick up steam with the creation of some seven million jobs in the past 38 months.

Key US Senate panel passes landmark immigration reform bill

The bill passed through the key Senate committee only after lawmakers reached a deal on H-1B visa expansion plan.

US economy shrinks 0.1% in Dec qtr; first time in over 3 years

The unexpected contraction adds to the concerns about the struggling global economy which is already battling the European debt turmoil and slowing growth in many developing countries including India.

America's deficit problem is more than fiscal: US economist

The US needs to address its budget deficit, but measures to be taken should not bring counterproductive effects as the nation also face jobs and growth "deficits", said Lawrence Summer, a US economist and President Barack Obama's former economic adviser.

'American economy added 155,000 jobs in December'

The Bureau of Labor Statistics also revised figures for October down to 137,000 from 138,000 and for November up to 161,000 from 146,000.

America’s third quarter economic growth rate revised up to 2.7%

The US economy has grown at an annualized rate of 2.7 percent in the third quarter of the year.

'US economy would prevail over Chinese model'

In his book 'Entrepreneurial Nation: Why Manufacturing is Still Key to America's Future' which was released early this year, Khanna profiles 15 successful American manufacturers and highlights their comparative advantage.

Eurozone crisis creates a headwind for the global economy: US

Observing that economic performance in Europe is of great importance to the US, the White House has said the Eurozone crisis creates a headwind for the global economy, and as such any trouble there poses a challenge to the American economy.

US economy getting stronger, world situation uncertain: Geithner

The American economy is gradually getting stronger and it can be seen across the country, although the situation still remains dangerous and uncertain worldwide, US Treasury Secretary Timothy Geithner has said.

Fearing job loss, 66% US workers skipped vacations

More than two-thirds of Americans did not avail of their full holidays in the whole of the year just gone-by due to fear of losing the job and intense work pressure, a survey has found.

British Airways posts 148 mn pound loss

Struggling British Airways said on Friday it slumped to a historic first-quarter pre-tax loss and warned the outlook remained uncertain as the global economic downturn slashes demand.