A rise in home values and stocks pushed Americans' wealth to a fresh record high in the first quarter of the year, defying the headwinds of an economy weakened by harsh winter weather. The household wealth climbed at a fresh high amid improvements in labor market and gains in the stock and residential real estate markets that are giving balance sheets a lift. According to a report by the … [Read more...]
US Mars Mission is Unaffordable suffering under budget constraints
With the Mars being hoped as a probable life supporting planet, space missions on the red planet becomes more important. The leading countries are one after another sending space expeditions in search of life on Mars. In such a scenario the United States can't afford not to undertake such a mission. The constraints on the budget around making the landing of astronauts on Mars an unaffordable … [Read more...]
US Real Estate Recovers as sales of new Homes rose 6.4 percent in April
After witnessing a slump in straight two months, the sales of new homes in the United States have seen a recovery in April. According to the US Department of Commerce, sales of new homes rose 6.4 percent in April at a seasonally adjusted annual rate of 433,000. In March, purchases fell 6.9 percent with an upwardly revised annual pace of 407,000. In February, buying had dropped 4.4 percent … [Read more...]
US Federal Charge Iowa Egg Company for 2010 Salmonella Outbreak
In a major development in the 2010 salmonella outbreak that left thousands sick, an Iowa company and two executives have been charged for selling the eggs that they believe were responsible for the spread of the disease. The salmonella outbreak had led to an unprecedented recall of 550 million eggs. Quality Egg LLC’s Austin "Jack" Quality Egg LLC’were charged with introducing adulterated … [Read more...]
US job market improving as unemployment aid claims hit 7-year low
In a positive development, the US job market was seen strengthening as the number of Americans filing new claims for unemployment benefits fell last week to its lowest level in seven years. According to the Labor Department report, released on Thursday, the initial unemployment benefits applications in the United States dropped from 24,000 to 297,000 for the week that ended May 10. This … [Read more...]
