US

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IMF Issues Stark Warning on Potential US Government Shutdown, Urges Swift Congressional Action

The International Monetary Fund (IMF) has issued a stark warning about the potential repercussions of a U.S. government shutdown, emphasizing that such an outcome poses significant risks to the American economy. In response, the IMF has called upon members of Congress to expedite the approval of budgets for U.S. government agencies to avert these avoidable …

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US Second Quarter 2023 GDP Growth Hits 2.1%, Aligns with Predictions

The US Department of Commerce has released its highly anticipated third estimate for the second quarter of 2023 Gross Domestic Product (GDP), revealing that the US economy expanded by 2.1% during the period. This figure is consistent with the expectations of analysts and remains unchanged from the second estimate, although it falls short of the …

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Fewer Than Expected Americans Apply for Unemployment Benefits in Latest Data

In the latest update on the US labor market, the U.S. Department of Labor has reported that the number of individuals filing for initial jobless claims increased by 2,000, reaching a total of 204,000 for the past week. However, this figure came in lower than the predictions of analysts, who had anticipated 214,000 claims. The …

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Chinese Hackers Breach US State Department Email Accounts, Espionage Uncovered

A startling revelation has come to light as an employee of the United States Senate disclosed that Chinese hackers infiltrated Microsoft’s email platform earlier this year, resulting in the surveillance of thousands of emails from accounts linked to the US State Department. The Senate employee, who was present at a State Department IT press conference …

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U.S. Warns of Air Travel Disruption if Government Agencies Face Shutdown

The U.S. Secretary of Transportation has issued a stark warning, highlighting the potential crippling impact on air travel if a government agency shutdown occurs. This dire situation could force around 1,000 air traffic control employees to take unpaid training leave, disrupting the nation’s aviation system. The Federal Aviation Administration (FAA) has estimated that unless Congress …

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U.S. Mortgage Applications Decline as Interest Rates Rebound

The Mortgage Bankers Association (MBA) has reported a 1.3% decline in mortgage loan applications for the most recent week, marking a noticeable setback driven by rising mortgage interest rates. In particular, applications for refinancing dipped by 1% over the same period, marking a significant 21% drop compared to the corresponding week of the previous year. …

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US Grants Indefinite Approval for South Korean Chipmakers to Export Production Equipment to China

News reports citing insider sources on September 27th indicate that the United States is poised to grant an indefinite extension of the exemption currently enjoyed by Samsung Electronics and South Korean chipmaker SK Hynix. This exemption permits these tech giants to export crucial U.S. chip manufacturing equipment to China without requiring a license. According to …

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Survey by the Conference Board Shows Decrease in Confidence Amidst Inflation and Government Shutdown Fears

In a recent survey conducted by the Conference Board, a prominent economic research institute, the U.S. consumer confidence index has taken a dip in September, marking its lowest point in four months and falling below analysts’ projections. The index plummeted to 103.0, down from 108.7 in August and well below the anticipated level of 105.5. …

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