U.S.

IMF Cuts Asian Economic Growth Forecasts

Workers wrap fireworks inside a makeshift factory in Bocaue town at Bulacan province. Phillipines.
The Fund said gross domestic product (GDP) growth across Asia will average 6.3 percent in 2011, and 6.7 percent in 2012 (in April, the IMF forecast nearly 7 percent growth for both years).
Exports have long been China’s main driver of its economic growth.

U.S. Stocks Open Lower on China Data, JPM Earnings

U.S. stocks edged lower on Thursday on news that growth in Chinese trade slowed in September. Before the market opened, JPMorgan Chase (NYSE:JPM) reported third quarter earnings of $1.02 per share, which exceeded expectations.
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Ayatolla Ali Khamenei

Iran Hails Occupy Wall Street Movement, Warns Capitalism Will Collapse

Senior government officials in Iran have hailed the Occupy Wall Street movement in New York and across the U.S., claiming the protests will eventually bring down the capitalist system. Supreme Leader Ayatollah Ali Khamenei reportedly stated that capitalism's “corrupt foundation has been exposed to the American people.
Booking photograph of Umar Farouk Abdulmutallab from the US Marshals Service

Accused 'underwear bomber' pleads guilty in US

The Nigerian man accused of trying to use a bomb in his underwear to blow up a U.S. airliner on Christmas Day 2009 pleaded guilty on Wednesday to all charges against him and warned the United States could face a great calamity.
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US Takes Action Against Execs of Failed Calif. Bank

Two former executives of a bank that received a $300 million federal bailout before its collapse during the financial crisis are facing criminal and civil fraud charges for their role in trying to conceal loan losses.
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U.S. Stocks Mixed, Alcoa up Ahead of Earnings

U.S. stocks are mixed on Tuesday as investors eye Slovakia's vote on the EFSF expansion and Alcoa's (NYSE:AA) earnings report. Investors seem upbeat as Alcoa shares have surged 2.78 percent in afternoon trading.
French President Sarkozy and German Chancellor Merkel address a news conference at the Chancellery in Berlin

U.S. Stocks Rise on Merkel-Sarkozy Promise

U.S. stocks rose on Monday, along with other global risk assets, as investors welcomed a promise from German Chancellor Merkel and French President Sarkorzy to devise a bailout plan for the Eurozone.

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