Wall Street dives on economic, European worries
U.S. stocks dropped sharply on Thursday as data fuelled worries the economy was weakening and bank shares tumbled on fears the European financial crisis could spread havoc to other parts of the world.
Fitch confirms US AAA rating, with a stable outlook
Fitch confirmed on Tuesday its triple-A rating of the United States, 10 days after rival Standard & Poor's dealt the country its first-ever downgrade due to its heavy debt burden.
"The affirmation of
US deficit hits $1.1 trillion
The US budget deficit has hit a staggering $1.1 trillion putting the federal government on track to finish the 2011 fiscal year with the second-largest gap between its incoming and outgoing cash.
In
Americans give thumbs down to Washington
Barely one in four Americans feels confident that the Obama government can fix America's economic problems with a large majority agreeing that the policymaking process in Washington is unstable and i
Post-US downgrade India a safe haven for global capital: Basu
Weakening of investor sentiment following the US rating downgrade is an opportunity for India to attract global capital that is in search for 'safe havens', the Chief Economic Advisor to Finance Minis
Some $4 trillion wiped off world stocks in 2 weeks
Some $4 trillion (2.47 trillion pounds) has been wiped off the value of world stocks this month on concerns the euro zone debt crisis is spreading to Italy and Spain and hurting Europe's banking syste
Reuters/Ipsos poll: 73 pct believe US on wrong track
Americans by a large majority believe the United States is on the wrong track and nearly half think the worst is yet to come in the economy, a Reuters/Ipsos poll said on Wednesday.
U.S. President Bar
Barack Obama defends US credit
US President Barack Obama vowed on Monday that America would always be a ‘triple A country,’ fiercely defending US credit after a historic debt downgrade and saying the economy could be fixed with pol
India also faces downgrade: S&P
Ratings agency Standard & Poor’s (S&P) on Monday has cautioned that it could lower the sovereign ratings of countries like India, Japan and Malaysia, which are still to come out of the economic meltd
Market meltdown continues, Sensex drops 558 points
The stock market continued to bleed for the sixth straight day today under pressure from debt worries in the West, with the benchmark Sensex dropping 558 points in opening trade.
Another benchmark