GM recalls 221000 cars for braking issue

US automaker General Motors has recalled more than 221000 of vehicles due to a brake problem.

Convicted US state senator stepping down

US State Senator Roderick Wright has resigned from the California Senate after being sentenced to three months in prison on felony perjury and voting fraud charges for lying about living in his Senate district when he ran for office in 2008.

The collapse of household income in the US

The US Federal Reserve’s latest Survey of Consumer Finances documents a devastating decline in economic conditions for a large majority of the population during the so-called economic recovery.

Six years since the Wall Street crash

In such a day in September 2008, the collapse of the US investment bank Lehman Brothers sparked the greatest financial crisis since the Great Depression of the 1930s.