Tag: US
Why US economy is powering ahead of Europe’s
While countries around the world have struggled to recover from the economic setbacks brought on by the pandemic, one has emerged particularly strong. With a fast-growing economy, a strong labour market and falling inflation, the US has outpaced its counterparts in Europe and elsewhere. In terms of GDP, it posted a 3.3% gain in the fourth quarter of 2023, far exceeding economists’ expectations of 2%. That put the US at 2.5% over the course of the year, outpacing all other advanced economies and on track to do so again in 2024. “The US is holding up much better than other [Read More…]
Binance accused of ‘web of deception’ in US
Crypto giant Binance has been accused of engaging in a “web of deception” as it was hit with another lawsuit by US financial regulators. The Securities and Exchange Commission (SEC) said the trading platform and its founder Changpeng Zhao ignored the rules meant to protect investors to keep operating in the US. Both the company and Mr Zhao are accused of mishandling customer funds. Binance said it would defend the platform “vigorously”. The complaint from the SEC is the second lawsuit filed against the firm this year and follows promises by the US to police the crypto industry more aggressively. [Read More…]
US inflation below 5% for first time in two years
Prices for milk, airline tickets and new cars fell in the US last month, helping drive inflation to its lowest rate in two years. Inflation, the pace at which prices rise, was 4.9% in the 12 months to April, official figures show. That was down from 5% in March, and marks the tenth month in a row that price rises have slowed. The fall comes after the US central bank has sharply raised interest rates to try to control inflation. Inflation in the US peaked last June at 9.1% – the highest it has been since 1981. But officials have [Read More…]
