China sharply raised the official size of its economy after taking into account emerging service industries, saying its output last year was 16.8 percent higher than previously reported. Jumping to No. 4, after only the US, Japan and Germany, if it i
The House also narrowly passed a plan to cut deficits by almost $40 billion over five years in legislation hailed by GOP conservatives as fiscal discipline and assailed by Democrats as victimizing medical and education programs for the poor.
Argentina said it will repay its entire debt to the International Monetary Fund from its currency reserves, in a sign of the country's rebound from economic collapse four years ago.
The House will try to infuse new life into the nation's financially fragile, employer-based pension system with legislation requiring companies to meet their obligations to retirees while shielding the federal agency that takes over abandoned pen
Federal Reserve policy makers raised the main U.S. interest rate to 4.25 percent, and signaled they may soon end their run of increases...a sign that members consider rates high enough that they're no longer spurring economic growth.
The U.S. trade deficit widened unexpectedly to a record $68.9 billion despite a drop in the cost of imported oil, as the deficits with China, Canada, the European Union, Mexico and OPEC all hit records
Harvard economist Dani Rodrik is one trade sceptic. Take Mexico and Vietnam, he says. [Of course he confuses who really has free trade, and who has government agreements. Still interesting.]
China trumped the United States in 2004 as the world’s leading exporter of high-tech goods like laptop computers, mobile phones and digital cameras, the Organization for Economic Cooperation and Development said.
The United States is rapidly losing its influence in the Southeast Asia region to China, thanks to an overly narrow focus on terrorism and a propensity to place bilateral ties above multilateral relationships
Americans increased their household debt at an annual rate of 11.6% in the third quarter, the fastest growth in 18 years, the Federal Reserve said. Total outstanding debt in the household sector rose to $11 trillion.
Gold prices settled higher and carved out a new quarter-century peak in another day of choppy trading on Thursday, as investment funds remained keen to keep bullion in their portfolios.
Natural-gas futures retreated from a record on Friday after a winter storm hit the northern United States. The price of crude-oil and heating-oil futures also dipped and analysts attributed some of the selling to profit-taking.
Lena Komileva, G7 market economist at brokers Tullett Prebon, noted that recent comments from Federal Reserve officials had done little to dissuade the market that US monetary policy was getting close to neutral.
The White House said the US auto companies do not need substantial industry-specific government help to overhaul their businesses, which are squeezed by high costs and fierce competition.
Chip-maker Intel Corp. will invest more than $1 billion in the next five years to expand its operations in India and in local technology companies, Intel Chairman Craig Barrett said.
President Bush pointed to faster-than-expected growth and other positive economic news in an effort to counter pessimism among Americans about the outlook for the U.S. economy.
An increasingly heated debate over U.S. immigration policy is highlighting the country's deep dependence on illegal workers whose departure would cripple much of the U.S. economy.
The Center for Responsible Lending (CRL) is reporting that a new bill in Congress would override and weaken state anti-predatory lending laws that protect homeowners. Congressmen Ney (R-Ohio) and Kanjorski (D-Pennsylvania) have introduced legislatio
Citing a "key company insider," the paper said the number-two U.S. carmaker was likely to close at least five vehicle assembly plants. Several powertrain and stamping plants will also close.
Outgoing Federal Reserve Chairman Alan Greenspan warned that America's exploding budget deficit and a protectionist backlash against soaring trade deficits could disrupt the global economy.
US automakers saw sales skid again in November as consumers steered clear of big trucks and sport utility vehicles, but Japanese firms Honda and Toyota gained more ground.
Gold galloped to its highest price in almost 23 years on Thursday, driven by further investment buying after it pierced the key $500 an ounce level earlier this week.
The school leavers of today could have to work until they are 69 before they collect their state pension if proposals put forward by the Pensions Commission are implemented.
The nation's attorneys general are putting finishing touches on a proposal to create a nationwide price-gouging law that would extend to any "essential services" including medicines, food, water, heating and cooling costs and hotel room
China's central bank has reiterated its lack of a timetable for full convertibility of the yuan, a day after the US Treasury stopped just short of naming Beijing a currency manipulator.
Many of America's inner cities continue to hemorrhage jobs despite years of federal programs designed to improve their economies. Most inner cities targeted by the federal government's primary urban economic programs lost jobs as well.
The Pilgrims learned about free choice after they arrived aboard the Mayflower and established Plymouth Colony in the winter of 1620-1621. The prevailing conditions during that and the following winter were ones of famine and death.
Ford Motor Co. Chairman urged the government to help struggling U.S. automakers by expanding subsidies for companies that make components for hybrids and other fuel-efficient vehicles, as U.S. automakers race to close a widening technology gap with t
Only in Washington DC can a spending increase be called a spending cut— but that’s what happened last week. Congress passed a budget bill that merely slows the rate at which some federal spending grows by a tiny percentage, and both parties acted as
The Federal Deposit Insurance Reform Act could increase the possibility of future bank failures, and thus increase federal expenditures. This expands the unconstitutional control over the financial services industry and also raises taxes on all fina