OECD slashes US forecast as gives global economy B minus

The OECD has slashed its US growth forecast for this year and next and given the global economy a "B minus" in its bi-annual assessment.

US Federal Reserve chair highlights concerns over ultra-low interest rates

Janet Yellen, chair of the US Federal Reserve, has highlighted the risks of ultra-low interest rates for financial stability, warning investors that share valuations are “quite high”.

Mark Carney: Bumpy ride ahead for global economy

Dramatic shifts in the financial landscape mean that a return to normal market conditions “could be bumpy”, Mark Carney, the Bank of England’s Governor has said.

US economy adds 192,000 jobs in March

The US added 192,000 new jobs in March, in line with expectations, as the unemployment rate held steady at 6.7%.

US Senate confirms Yellen as Federal Reserve chair

Washington (AFP) - The US Senate confirmed Janet Yellen as the new leader of the Federal Reserve, marking the first time a woman has headed the world's most powerful central bank.

World led by US poised for fastest growth since 2010

The world economy is primed for its fastest expansion in four years, with the US propelling the improvement in output.

US Federal Reserve to trim stimulus in coming months

Federal Reserve officials said they plan to begin trimming the central bank's stimulus efforts in "the coming months".

US shutdown is starting to hit business, says Commerce Secretary

US Commerce Secretary Penny Pritzker has warned that business is starting to suffer from the federal shutdown.

World stock markets fall after Ben Bernanke hints at easing stimulus

World stock markets fell sharply on Thursday and UK government borrowing costs hit a 15-month high after the chair of the Federal Reserve gave the clearest signal yet that America's huge stimulus package will be slowed this year.

Recovery from recession: For US businesses, it has been the best in decades

The economic recovery from the recession that officially ended in 2009 has been extremely disappointing for US consumers.

Bernanke: US economy 'still far' from desired state

WASHINGTON: Federal Reserve Chairman Ben Bernanke said Monday that the US economy still has far to go to recover to an acceptable state of health.

US economy shrinks a surprise 0.1% in fourth quarter

The US economy unexpectedly shrank at an annualised rate of 0.1% in the fourth quarter of 2012, initial official estimates indicate.

US fiscal cliff deal to slow growth: Economists

WASHINGTON: The political deal to pull the US away from the " fiscal cliff" will still hit economic growth and efforts to generate jobs, economists said Wednesday, but the country will avoid a feared recession.

US economy grew at 3.1 per cent in July-September

WASHINGTON: The US economy grew at an annual rate of 3.1 percent over the July-September quarter as consumers spent more and state and local governments added to growth for the first time in nearly three years.

G20 finance chiefs to begin talks to tackle eurozone crisis

MEXICO CITY: G20 finance chiefs begin Sunday two days of talks aimed at quelling fears of a global economic downturn amid a persistent eurozone debt crisis and a looming fiscal crunch in the United States.

US Fed says low interest rates are likely until 2015

The Federal Reserve is likely to keep US interest rates at the current near-zero rate until 2015, minutes from its September rate-setting meeting have shown.

US Fed indicates smaller chance of more QE

Federal Reserve policymakers appear less keen to launch a fresh round of monetary stimulus as the US economy gradually improves, according to minutes for the central bank's March meeting.

GE to hire 5,000 veterans over next 5 years

WASHINGTON: General Electric Co plans to hire 5,000 US military veterans over the next five years and to invest $580 million to expand its aviation footprint in the United States this year.

Bernanke to testify on US economy and deficit

U.S. Federal Reserve Chairman Ben Bernanke will likely tell members of Congress on Thursday that the slowly improving economy may need more help from the Fed and that cutting the deficit too quickly could backfire.

Global slump warnings if US triggers 'insane' default

A chorus of global banks has warned that Washington risks triggering a global slump and may suffer permanent loss of credibility by flirting with default on America's $14.3 trillion (£8.8 trillion) federal debt.

The dangers are almost as great if the US fails to lift the debt ceiling and avoids default by enacting the most drastic fiscal squeeze in modern history.