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May, 6, 2016

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Business > Americas
U.S. Senator Charles Schumer wants to require the Federal Aviation Administration to establish seat-size standards for commercial airlines, which he says now force passengers to sit on planes "like sardines."
 
The average cost for a year's supply of a prescription drug doubled in just seven years in the U.S. to more than US$11,000 -- about three-quarters of the average annual Social Security benefit.
 
WTC transit hub opens at cost of US$4 billion
The soaring, white transportation hub opening next week at the World Trade Center was designed to evoke a bird in flight, but it is hatching under a cloud.
 
The U.S. economy's slowdown in the final three months of 2015 wasn't quite as bad as initially thought.
 
Average long-term U.S. mortgage rates fell this week as anxiety over the global economy persisted. Long-term rates resumed their decline after being unchanged last week following six straight weeks of easing.
 
The U.S. Treasury Department on Thursday warned of a potential government shutdown in the U.S. territory of Puerto Rico and lengthy litigation if Congress doesn't approve a debt restructuring plan for the U.S. territory soon.
 
Brazil's battered economy took another blow on Wednesday when Moody's became the last of the three major credit ratings agencies to strip the country of its investment grade status.
 
A lawyer for large U.S. hedge funds owning Argentine bonds said Wednesday that his clients have nearly settled on a US$5 billion deal with Argentina to end a 15-year-old dispute that has interfered with the South American nation's efforts to end a debt crisis and gain a healthier footing in the world's financial markets.
 
U.S. President Barack Obama signed a bill Wednesday that includes a provision banning U.S. imports of fish caught by slaves in Southeast Asia, gold mined by children in Africa and garments sewn by abused women in Bangladesh, closing a loophole in an 85-year-old tariff law that has failed to keep products of forced and child labor out of America.
 
The impact of plummeting oil prices has shown up in the financial picture of U.S. banks, whose losses from loans increased for the first time in five and half years, according to new government data.
 
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