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Find out what is happening in the economic and financial world in the US and the world in this area. Our news articles are updated frequently and will help you to gain added perspective on your money matters.

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US Consumer Confidence Declines
02 February 2012
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Consumer confidence in the United States dropped in January coming in below forecasts and put an end to two months of gains.
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2012 Election To Revolve Around Economy
31 January 2012
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The economy is set to the main focus for election candidates. Obama’s re-election campaign may be difficult considering unemployment is above 8% and GDP is growing below historical trend.
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US Economy Grows At Fastest Pace In Over A Year
27 January 2012
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The Commerce Department said today that gross domestic product expanded at a 2.8 % annual rate, a sharp increase from the 1.8 % seen in the third quarter of the same year.
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U.S. Economy On The Mend?
24 January 2012
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For now home sales are up and business confidence is rising and so the chance for improvement could be a real possibility as significant progress continues to be made in terms of government debt.
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U.S. Falling Behind Market Rivals
20 January 2012
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The United States, according to a recent report, is falling behind other nations and is less competitive than its market rivals.
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US Unemployment Falls To 8.5%
06 January 2012
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In the U.S. non-farm pay-roll data came in exceeding all expectations reaching highs of 200,000. With unemployment reaching a 3 year low, these figures, released by the Labour Department, point to a giant leap forward for U.S’s recovering economy.
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All Eyes On US Economy
03 January 2012
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It will be a busy week for US data. The ISM manufacturing report has shown that in December manufacturing grew at an accelerated rate.
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U.S. Data Takes Centre Stage
22 December 2011
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U.S. stock-markets futures pointed to a higher open for Wall Street, assisted by a rebound for European markets. Before trading Dow Jones Industrial Average futures were up 37 points, 0.3% to 12063.
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No Progress In Payroll Tax Showdown
21 December 2011
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Speaker John Boehner and House Republican negotiators urged Democrats to restart talks on extending the payroll tax cut today, but showed little progress in resolving a partisan standoff that now threatens to erode the paychecks of 160 million people across the US.


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House Republicans Call for Changes to Payroll Tax Deal
20 December 2011
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House Republican leaders have announced that they will not approve a bipartisan package on short-term tax break for workers in the latest squabble in Congress over the budget.
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$300 Million Investment in Twitter by Saudi Prince
19 December 2011
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Saudi Arabian Prince Walid bin Talal has announced that he has invested in $300 million worth of shares in media site Twitter as he continues to expand his US business portfolio. The investment by Prince Walid and the Kingdom Holding Company represents roughly 3% of Twitter.
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Poor Sales Lead to Store Shake-Ups
16 December 2011
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As retail sales have continued to fall since Thanksgiving weekend, retailers across America are shaking things up in order to combat this. Prices are being lowered, specials extended, stores open later some retailers are even moving the Saturday-before-Christmas sales.


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Initial Claims at Lowest Level Since 2008
15 December 2011
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Fewer Americans filed for their first week of unemployment benefits last week. So few in fact, that initial claims were at their lowest level since May 2008.
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US Federal Reserve Takes No Action
14 December 2011
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Tuesday saw the Federal Reserve announce that it was not taking any further action for 2011, keeping up existing stimulus to up economic growth but not starting any additional efforts. The news comes as more evidence that the US economy is sluggishly returning to health emerges.
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Iran Reject US Request to Return Captured Drone
13 December 2011
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Iran has rejected a US call for the return of a surveillance drone captured by Iran's military earlier this month. The unmanned aircraft was now "property" of Iran and it was up to Iran to decide what to do with it, Defence Minister Ahmad Vahidi said.
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Congress to Debate Massive Spending Bill
08 December 2011
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Conservative flashpoint issues from abortion and abstinence education to President Barack Obama's health care law are the biggest obstacles to Congress completing a massive year-end spending bill next week that would keep the government running through next September.


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Citigroup to Cut 4,500 Jobs
07 December 2011
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Citigroup Inc. Chief Executive Officer Vikram Pandit will cut about 4,500 jobs in coming quarters as he seeks to reduce costs amid slumping revenue and "unprecedented" market conditions.


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28,000 US Postal Service Jobs Cut
06 December 2011
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Over 50% of the mail-processing centers run by the US Postal Service are to be shut down as part of a $3 billion austerity scheme, which is expected to see 28,000 jobs lost.
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Cain Suspends Campaign Following Affair Allegations
05 December 2011
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Us presidential candidate Herman Cain has announced that he is suspending his campaign for the Republican nomination. His reasoning was tied up with the ‘false’ allegations of engaging in an extra-marital affair for 13 years, as well as sexual harassment and the resulting political and media pressure on him and his family.


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120,000 Jobs Added in US
02 December 2011
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November saw another average month of job creations in the US. According to the Labor Department, 120,000 jobs were added by employers last month. The mediocre figure comes after 100,000 positions were created in October.
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Draghi Hints at Increasing Eurozone Support
01 December 2011
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The president of the European Central Bank, Mario Draghi, today hinted that the bank may increase its support of the eurozone economy should its political leaders take firm action to prevent debt crisis in the future.
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AMR Corporation Goes Bankrupt
30 November 2011
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The parent company of American Airlines, the AMR Corporation, announced today that they have filed for Chapter 11 bankruptcy protection in an attempt to lower the costs of labor and rid the company of huge debts.


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Retailers See Record Sales Over the Weekend
28 November 2011
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Following fierce promotions from retails across the country for Black Friday, American shoppers set records in both traffic and sales, returning consumer activity to levels not seen since before the recession.
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European Debt Crisis Worsens
25 November 2011
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In another sign of Europe's worsening crisis, two Italian debt auctions drew poor demand today, sending bond yields soaring and keeping investors on edge.


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Black Friday Divides Shoppers
24 November 2011
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Tonight the busiest shopping weekend of the whole year begins. But the sales are set to vary considerably for affluent Americans and those with lower budgets. The state of the economy will be displayed clearly for all to see.
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Nokia Siemens Work Force to be Cut by 23%
23 November 2011
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Technology giants Nokia and Siemens have announced major job cuts throughout their joint equipment venture Nokia Siemens Networks today. The company plans to cull 23% of jobs in an attempt to boost profits as the network gear market stalls.


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US Economic Growth Downwardly Revised for Third Quarter
22 November 2011
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The US economy expanded at a slower rate than previously thought throughout the third quarter this year.
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US Gasoline Prices Fall Slightly
21 November 2011
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The price of gasoline across the country fell by almost 5 cents as the Thanksgiving holiday approaches and a slump in demand and cheaper crude prices maintain pressure on costs.
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Boeing Wins Largest Order with $21.7 Billion Lion Air Deal
18 November 2011
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Boeing has bagged its biggest commercial order after signing a deal worth $21.7bn (£14bn) with Indonesian airline Lion Air.
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US Inflation Eases as Consumer Prices Fall
16 November 2011
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The Labor Department has released data that signals that consumers paid less for cars, computers and gas throughout October, with overall prices falling for the first time since June. This has led to an easing in inflation following the spike in prices seen in spring.


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Retail Sales Increased by 0.5% in October
15 November 2011
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Retail sales across the US rose throughout October, with Americans especially spending more money on electronics, autos and building supplies. This marks October as the fifth consecutive month to see hikes in retail sales, according to the Commerce Department.


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Banks Quietly Hike Costs to Consumers
14 November 2011
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Even as Bank of America along with various other major lenders turn away from charging customers to use their debit cards, many banks have been quietly imposing several additional new fees.
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Unemployment Aid Lowest For 7 Months
11 November 2011
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The number of people across the United States claiming unemployment benefits fell last week to the seasonally adjusted level of 390,000 according to the Labor Department.


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G.M. Profits Drop 2% to $1.6 Billion
09 November 2011
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The vehicle manufacturing giant Ford Motor Co. published its third quarter earnings today. The company earned $1.6 billion throughout the period, a decrease of 2% from the same quarter a year ago.
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Sales in Retail Sector Slow Throughout October
03 November 2011
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Figures released today show that same-store sales slowed down in October, which does not bode well for retailers across America as we head into the holiday season, the most important and lucrative time of year.


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Debit Card Fee Cancelled by Bank of America
02 November 2011
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Bank of America have announced that will not be imposing a plan to charge customers $5 a month for making payments with a debit card after fierce opposition from its customers.
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MF Global Under Investigation for Missing Money
01 November 2011
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Having filed for bankruptcy protection only yesterday, the brokerage firm MF Global is under investigation by federal regulators after millions of dollar of customer money is unaccounted for over the last few days.
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MF Global Files for Bankruptcy Protection
31 October 2011
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The US brokerage firm MF Global has filed for bankruptcy protection today, making it the first company to do so in US since the European debt crisis. Filing for Chapter 11 bankruptcy protection, the company’s parent firm has identified liabilities of over $1 billion and listed its assets at $100 million to $500 million.
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Rick Perry Unveils Tax Reforms
25 October 2011
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Rick Perry, the presidential candidate for the Republican Party in the 2012 elections has unveiled a tax plan that aims to reform the current tax code and turn the US economy around. Presenting his plan, Perry wrote in the Wall Street Journal outlining his proposals, revolving mainly around a flat, voluntary tax at the rate of 20% for both incomes and companies.
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Late Payments on Credit Card Debt Up in September
24 October 2011
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Five of the six biggest issuers of credit cards in the United States have seen late payments increase throughout September. It would seem like consumers across the country are struggling through the sluggish economic times, and are struggling to pay off credit card debt.
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Social Security to Increase by 3.6%
19 October 2011
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For the first time in three years, senior citizens are to see their Social Security increase.
The extra money is not however expected to help the majority of senior citizens. Hiked premiums in Medicare are expected to take out most of the raise.

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Apple Sells Record Numbers of iPhone 4S
18 October 2011
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Technology giant Apple today announced that over 4 million of the new iPhone 4S smartphones have been sold since it was launched just 3 days ago. This is a record for sales of any iPhone since its launch. The number outstrips the amount of iPhone 4 devices that were sold during last year’s opening weekend by more than double.
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US Stocks Make Comeback on Strong Retail Sales
14 October 2011
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Wall Street climbed this morning as strong figures were reported for retail sales throughout September across the US at the fastest rate seen in several months. The broad S&P 500 index gained 16.17 points, 1.34%, and was up to 1,219.83.
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Weak Global Economy Shown in US and China Figures
13 October 2011
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The current slowdown in the global economy has been highlighted by reports released today over the trade relationship between China and the US. The trade deficit in the US was largely unchanged throughout August at $25.6 billion. This is the lowest figure since April, and over $100 million less than the same month last year.
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New iPhone Pretty Cool!
12 October 2011
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Lots of avid fans of Apple technology were disappointed when the iPhone 5 release was actually the iPhone 4S. People wanted a new look and amazing new technology, which apparently the 4S does not provide. But there are various improvements to the new model that are pretty cool, even if it does look the same.
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Social Media to Generate $10 Billion in 2011
11 October 2011
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The technology research firm Gartner claim that worldwide revenues generated from social media sites, like Facebook, are up by 41% from 2010 and are on track to reach $10 billion by the end of the year. The company predicts that profits will grow exponentially over the next few years, and have growth projections of 50% by next year, and are expected to triple by 2015 to $29 billion.
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Incomes Fall Over US
10 October 2011
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A study conducted by former Census Bureau officials has shown that disposable household income fell more in the two years after the recession than in the recession years themselves. From December 2007 to June 2009, the official time span of the recession, disposable income fell on average by 3.2% across the US.
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153,000 Signatures on Petition Over Debit Card Fee
07 October 2011
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A 22 year old customer of the Bank of America has started a grassroots campaign to refute the $5 fee the bank is planning to introduce on debit cards. Today Molly Katchpole handed in over 153,000 signatures on a petition against the fees to a branch of the bank in Washington D.C.
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Sarah Palin Not to Run for President in 2012
06 October 2011
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Sarah Palin has released a statement in which she announced that she will not run a presidential campaign next year. Instead, she and her husband are going to ‘devote ourselves to God, family and country’. The announcement comes after months of speculation over Palin’s next move. She has slipped in popularity polls among Republicans over the past few months.
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Holiday Jobs Raise Hopes Over Unemployment Rate
05 October 2011
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Regardless of the volatile economy, many leading retailers have said that they intend to create the same number of jobs, if not more, in preparation for the holiday season as last year. The Christmas period of 2010 saw almost a 50% increase in temporary hiring. Although the numbers are not significantly higher than last year, increases can be seen.
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