BofA offers to repay part of govt bailout package: Report

Bank of America has proposed to repay part of the US government bailout money.

Federal Reserve made $14 bn profit on loan programmes: Report

The US Federal Reserve has made a whopping USD 14 billion profit on loan programmes made in the last two years, says a media report.

22 months of US recession, 1st year of Lehman demise

Weathering the worst ever financial storm in nearly 80 years, the US economy in September, will not only be in recession for 22 consecutive months but the month also marks the first anniversary of Lehman Brothers` failure.

AIG, Fannie Mae, Freddie Mac soar over 250% in just a month

The three entities-American International Group, Fannie Mae and Freddie Mac are emerging as investor-favourites with their stock prices skyrocketing over 250 percent in August.

US economy slumps 1% in Q2; initial jobless claims fall

The US economy contracted 1 per cent in the second quarter of 2009 against 6.4 percent decline in the first three months, signalling that the country is probably slowly coming out of the worst financial turmoil in nearly 80 years.

SEC, BofA defend Merrill bonus settlement

The Securities and Exchange Commission and Bank of America Corp. on Monday defended the fairness of their proposed USD 33 million settlement over executive bonuses paid out by Merrill Lynch.

US economy on cusp of recovery: Bernanke

Federal Reserve Chairman Ben Bernanke declared Friday that the US economy is on the verge of a long-awaited recovery after enduring a brutal recession and the worst financial crisis since the Great Depression.

New US jobless claims unexpectedly rise last week

The number of US workers filing new claims for jobless benefits unexpectedly rose last week, a government report showed on Thursday, as companies continued to cut payrolls amid uncertainty over the economic outlook.

US sees worst pay rise in 33 years in 2009: Hewitt

The year 2009 has so far turned out to be the worst in 33 years for employees in the US in terms of salary hike.

US on slow path to economic recovery: Buffett

Legendary investor Warren Buffett has said the American economy is out of the "emergency room" and the country appears to be on a slow path to economic recovery.

US manufacturing index posts first growth in year

A key US manufacturing survey showed improvement for the first time in a year, the Federal Reserve Bank of New York said Monday in a fresh sign the economy may be emerging from recession.

US recovery is in view, but struggles persist: Analysts

The US economy appears poised to emerge from recession but will struggle for some time, held back by a weak job market and cautious consumers, analysts say.

US industrial production up, first time in 9 months

US industrial production jumped 0.5 percent in July, official data showed Friday in a sign of the manufacturing sector emerging from recession.

US deficit climbs to $1.3 trillion

The US budget deficit reached USD 1.3 trillion for the current fiscal year in July, official data showed, news set to fuel opposition to US President Barack Obama`s ambitious health care and climate change proposals.

End of recession seen as US economy contracts 1% in Q2

Sparking hopes of economic recovery, the US economy shrank much less than expected at one per cent in the second quarter of 2009, mainly due to higher government spending and lesser decline in exports.

Bernanke defends Fed`s actions

Federal Reserve Chairman Ben Bernanke travelled to the US heartland to defend the central bank`s actions and reaffirm his assessment of an improving, but still vulnerable, US economy.

US seeks action with China on economy

US Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner called Monday for far-reaching cooperation with China, saying the nations can help the world come out of economic crisis.