US stocks rallied sharply in opening trade on Monday as Wall Street rode optimism spurred by Federal Reserve chief Ben Bernanke's remarks and Hurricane Irene's lighter-than-expected damage.

The Dow J

Hurricane Irene is being blamed for at least 29 deaths in nine eastern US states, emergency officials and local media said on Monday, as Vermont and other states suffered disastrous flooding.

The dea

A top Obama Administration official on Thursday praised Tata Steel as a shining example of foreign direct investment in the United States that has created jobs in the economy.

"It is a story worth li

A basketball friendly between China's military and a visiting US team descended into a mass brawl in Beijing this week, just as US Vice President Joe Biden was in town to try to improve US-China relat

Morgan Stanley today said the United States and Europe are dangerously close to recession, blaming in part policy errors by authorities on both sides of the Atlantic.

The investment bank said a slow

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 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

Billionaire investor Warren Buffett today urged US lawmakers to raise taxes on wealthier Americans to cut Washington's huge budget deficit, saying the move would not dampen investments or jobs.

In a

August's dramatic financial shock, which is now both feeding off and risks fueling another economic downturn, may well introduce a third phase of the four-year-old global credit crisis -- the infectio

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