Sri Lankans sit on empty Liquified Gas Cylinders (LPG) as they block a road to protest against shortage of fuel and cooking gas in Colombo on May 13, 2022. AFP via Getty Images China’s stumble is shin...
Tag: U.S.
U.S GDP Declines by 0.9% in Second Quarter 2022, Recession?
10 hours ago | 2 mins read Bitcoin News National Bureau for Economic Research (NBER) is scheduled to analyze the statistics. The Federal Reserve raised interest rates by 75 basis points on Wednesday. ...
U.S. Senator seeks safeguards disclosures from Apple, Google amid rise in fake crypto apps
U.S. Senator Sherrod Brown (D-Ohio) sent letters to Tim Cook, CEO of Apple, and Sundar Pichai, CEO of Google and Alphabet on July 28, asking for information about what the companies are doing to prote...
U.S. Likely In Recession, GDP Reveals Another Negative Growth
The GDP for the second financial quarter of the US was finally released to be -0.9%. The data shows a second consecutive quarter of negative growth. According to many experts, this meets the general d...
U.S. Bank workers opened fake accounts to meet sales goals, feds say
NEW YORK — For more than a decade, U.S. Bank pressured its employees to open fake accounts in their customers’ names in order to meet unrealistic sales goals, the Consumer Financial Protection Bureau ...
Proposed Antitrust Legislation Threatens To Harm U.S. Tech Startups And The Innovation Economy
The recently-released GDP estimates revealed that the economy contracted for the second quarter in a row, and some economists fear that we may already be in a recession. Given the precarious nature of...
China Warns U.S.—Don’t ‘Play With Fire’ Over Taiwan—After Biden-Xi Call
Topline As tensions over Taiwan simmer, President Joe Biden reiterated to Chinese President Xi Jinping during a Thursday phone call that the U.S. hasn’t changed its position on Taiwan, according...
U.S. economy is ‘technically’ in a recession now: what’s next?
U.S. equities are in the green this morning even after the Bureau of Economic Analysis said the economy contracted at an annualised pace of 0.9% in the second quarter of 2022. Expert reacts to the GDP...
Watch Treasury Secretary Janet Yellen talk live about the state of the U.S. economy
[The stream is slated to start at 1:30 p.m. ET. Please refresh the page if you do not see a player above at that time.] Treasury Secretary Janet Yellen speaks Thursday at a news conference on the stat...
The U.S. Had 6 Months Of Economic Decline. So What’s The Definition Of A Recession?
TOPSHOT – Traders work on the floor at the opening bell of the Dow Industrial Average at the New … [+] York Stock Exchange on March 18, 2020 in New York. – Wall Street stocks resumed...
Stocks Rally Despite U.S. GDP Shrinking For A Second Quarter In A Row—But Experts Say No Recession Yet
Topline The stock market moved higher on Thursday despite U.S. economic growth contracting for the second quarter in a row, a significant recession indicator which spooked markets—though most experts ...
U.S. Enters Recession Territory With Second-Quarter GDP Falling 0.9%
Key Takeaways The U.S. second-quarter Gross domestic Product growth has come in at -0.9%. The latest data shows a second consecutive quarterly contraction, meaning the U.S. economy is technically in a...
U.S. Durable Goods Orders Soar 1.9% In June
Getty Images Key Takeaways U.S. durable goods orders increased 1.9% in June, driven by a huge 81% increase in military aircraft orders. Core durable goods orders, which removes transportation, governm...
New Oil Power Guyana On Pace To Surpass U.S. Offshore By 2035
Morning above Guyana highlighted in red on model of planet Earth in space. 3D illustration. Elements … [+] of this image furnished by NASA. 3D model of planet created and rendered in Cheetah3D s...
Economy Shrank 0.9% Last Quarter As Experts Warn ‘Worse To Come’
Topline The U.S. economy unexpectedly shrank for a second quarter in a row this year, according to data released Wednesday, signaling the start of a technical recession even as economists predict sign...
CDC Warns Of Potentially Deadly Bacteria Found In U.S. Soil And Water For First Time
Topline A potentially deadly bacteria has been detected in soil and water samples in the U.S. for the first time, the Centers for Disease Control and Prevention (CDC) announced on Wednesday, warning t...
U.S Federal Reserve Raises Interest Rates by 75 Basis Points
53 mins ago | 2 mins read Bitcoin News Consumers and companies are likely to reduce their borrowing and spending. The central bank had predicted an interest rate increase of 100 basis points. Second t...
U.S. Senator Pat Toomey Blames SEC for Crypto Lending Products Fallout
U.S. senator Pat Toomey recently wrote a letter to Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), concerning the Commission’s approach to regulations governing companies t...
Miami Grand Prix Proves Formula 1 Is Here To Stay In The U.S.
More than 243,000 attended the three-day Miami Grand Prix in May. (Photo by Jared C. Tilton/Getty … [+] Images) Getty Images The Miami Grand Prix from May 6-8 signified Formula 1’s acceptance an...
U.S. Offers Russia Convicted Arms Dealer In Exchange For Brittney Griner And Paul Whelan, Report Says
Topline The Biden Administration offered to send convicted arms dealer Viktor Bout back to Russia in exchange for the release of U.S. citizens Paul Whelan and WNBA star Brittney Griner, both of whom a...
U.S. Senators Introduce Bill to Exempt Tax for Crypto Transactions Less Than $50 – crypto.news
A bipartisan bill introduced in the Senate is seeking to remove the burden of paying capital gains tax for cryptocurrency transactions worth $50 and below. No Taxation for Small Crypto Transactions T...
U.S. to release 786,000 additional monkeypox vaccine doses as outbreak spreads
The U.S. will make 786,000 additional monkeypox vaccine doses available to local health departments “as soon as possible” after the Food and Drug Administration approved the shots for dist...
Fed Chair Jerome Powell said he does not think the U.S. is currently in a recession
Federal Reserve Chairman Jerome Powell said Wednesday he does not believe the U.S. economy is in a recession as the central bank raised rates further to fight inflation. “I do not think the U.S....
New Senate Bill Would Allow U.S. Abortion Funding Abroad—Here’s Why It Matters
Topline Democratic senators introduced a bill Wednesday to permit U.S. funding for abortions overseas by repealing a decades-old amendment, a longshot effort to prevent thousands of maternal deaths gl...
Senate Advances Bill To Boost U.S. Microchip Production—Here’s What’s In It
Topline A bill that would earmark billions in federal funds to boost U.S. semiconductor production amid a nationwide chip shortage passed a key Senate vote Tuesday morning, possibly clearing the way f...
Flash Floods Swamp St. Louis In Latest Bout Of Extreme U.S. Weather
Topline Flash floods inundated St. Louis streets as the city broke the record for daily rainfall in just five hours Monday night, as the U.S. continues to experience extreme storms, heat, and fires th...
U.S. Senators Propose Tax Exemption on Small Crypto Transactions
Lawmakers from both the Democratic and Republican parties have today introduced a crypto tax bill to U.S. Senate that would exempt transactions under $50 or less. Senators Pat Toomey and Kyrsten Sinem...
Treasury Investigating Kraken for Flouting U.S. Sanctions: NYT
Key Takeaways The Treasury Department is investigating Kraken for breaking U.S. sanctions, The New York Times has reported. The exchange allowed users in Iran and other banned countries to trade on it...
U.S. Senators Plan To Cut Expenses For Crypto Transactions
U.S.-based crypto think tank Coin Center celebrated the introduction of the Virtual Currency Tax Fairness Act of 2022 in the Senate which is aimed at improving the daily use of crypto assets. Filed by...
Here Are The Major U.S. Job Cuts As Recession Fears Grow
Major U.S. companies have laid off thousands of employees so far this summer, as CEOs fear soaring inflation could tip the economy into a recession. July 26, 2022E-commerce company Shopify became the ...