NEW YORK (CNNMoney) By Jeanne Sahadi @CNNMoney July 29, 2014 Americans have a debt problem. An estimated 1 in 3 adults with a credit history — or 77 million people — are so far behind on some of their debt payments that their account has been put “in collections.” That’s […]
http://i.cdn.turner.com/money/.element/script/7.0/players/embed.js?videoid=/video/news/2014/07/01/n-richard-quest-interviews-former-argentina-finance-minister.cnnmoney By Charles Riley @CRrileyCNN July 25, 2014 HONG KONG (CNNMoney) The clock is ticking. Argentina will default in just a few days unless the country can find a way […]
Source: Asia Times: And then there’s the suspicious timing. The MH17 tragedy happened two days after the BRICS announced an antidote to the IMF and the World Bank, bypassing the US dollar. And just as Israel “cautiously” advances its new invasion/slow motion ethnic cleansing of Gaza. Malaysia, by the way, […]
The leaders of the so-called BRICS countries – Brazil, Russia, India, China and South Africa – sign a deal to create a new $100bn development bank and emergency reserve fund.Global […]
Source: Russia Today The Italian capital may go bankrupt within a few days, says the Mayor, as the government cannot agree on how to fill the city’s $1.17 billion budget […]
HONG KONG (CNNMoney) Yuan Ye has just sunk his $17,000 in life savings into an unusual investment: Yu’ebao, a fund run by Chinese e-commerce heavyweight Alibaba. Yuan, the owner of a […]
Source: BBC Financial leaders from the 20 biggest economies have set a goal of generating $2 trillion (£1.2 trillion) in extra output over the next five years. During that period […]
Source: CNN Money Standard & Poor’s announced Tuesday that it had cut Puerto Rico’s credit rating to junk, as the island’s government struggles to get its finances in order. Puerto […]
RT: The Archbishop of Canterbury, the principal leader of the Church of England, has urged bank bosses to make a “massive cultural change” in their management style. He says many […]
WASHINGTON (CNNMoney) The job market is almost strong enough to stand on its own. That’s the message from Federal Reserve officials, who decided Wednesday to start reducing their massive economic stimulus program. Beginning in January, the Fed will buy $75 billion in bonds each month, down from the $85 billion it had been […]
Source: The Guardian By Nicholas Watt, chief political correspondent Centre for Social Justice says poorer people ‘bearing brunt of storm’ as debt hits £1.4tn – almost as high as economic output Personal debt in Britain has reached £1.4tn – almost the same amount as Britain’s national economic output – according […]
Source: BBC India’s central bank has unveiled new rules that will allow foreign banks to expand their presence in the country. Foreign banks will now be allowed to set up “wholly owned subsidiaries” in India, which will enable them to open branches anywhere in the country. The subsidiaries will need […]
Mailonline: Alastair Campbell’s job with dictator was ‘set up by Tony Blair’ US government documents have revealed the extent of links between the former PM and lobbying group which employs his former spin doctor One entry appears to indicate that Mr Blair secured a contract with a public relations firm, […]
Mailonline: Alastair Campbell’s job with dictator was ‘set up by Tony Blair’ US government documents have revealed the extent of links between the former PM and lobbying group which employs his former spin doctor One entry appears to indicate that Mr Blair secured a contract with a public relations firm, […]
Source: China Daily BEIJING — China has replaced five members of its central bank’s monetary policy committee, according to a circular released on Wednesday by the State Council, China’s Cabinet. Chaired by People’s Bank of China (PBOC) governor Zhou Xiaochuan, the committee welcomes five new members: Xiao Jie, deputy secretary-general of […]
Source: Forbes Here’s what your stockbroker and the media aren’t telling you: the world is more indebted now than it was at the height of the financial bubble in 2007. That’s right. Despite the extraordinary government intervention of the past six years. Despite continuing optimism of a recovery. Despite the […]
Source: BBC Australia’s central bank is planning to invest around 5% of its foreign currency reserves in Chinese government bonds, its deputy governor has said. It will be the first […]
Source: Speaker of the House, US Congress WASHINGTON, DC – House Speaker John Boehner (R-OH), Senate Majority Leader Harry Reid (D-NV), Senate Republican Leader Mitch McConnell (R-KY), and House Democratic Leader Nancy Pelosi (D-CA) announced today that they will hold a U.S. Capitol ceremony next month to present Professor Muhammad […]