By RFI France. European stockmarkets fell further on Friday over investor fears the financial problems facing Italy and Spain could be spreading to France.The three countries this week faced sharp spikes in borrowing costs in what is seen as a dangerous new phase of the debt crisis. More: http://www.english.rfi.fr/economy/20111118-fears-debt-contagion-spread-french-borrowing-costs-increase
The index of U.S. leading indicators climbed more than forecast in October, signaling the world’s largest economy will keep growing in early 2012. The Conference Board’s gauge of the outlook for the next three to six months rose 0.9 percent, the biggest jump since February, after a 0.1 percent September […]
Nearly three weeks after $600 million in customer money went missing from MF Global, the search for the cash has been hampered by the bankrupt brokerage firm’s sloppy record-keeping, an increasingly worrisome situation that has left regulators frustrated and customers in the lurch. The round-the-clock effort has consumed an alphabet […]
BEIJING – There are vulnerabilities in the financial sector, though the financial system is sound overall, the International Monetary Fund (IMF) said in a report released on Tuesday, as it called for further reforms. In its first formal evaluation of China’s financial system, the Washington-based lender said China needs to […]
http://s.wsj.net/media/swf/VideoPlayerMain.swf My view and concern: European economies shrinking and Asia expanding. Is it by accident and chance or design?
The ax continues to fall on a beleaguered Wall Street. Citigroup is drawing up plans to eliminate about 3,000 jobs, or 1 percent of its global work force, two people with direct knowledge of the matter said on Wednesday. The bank has already notified some employees who will lose their […]
NEW YORK (CNNMoney) — European bond yields climbed Tuesday, with Italian yields surpassing a key threshold, setting off alarms in markets around the world as investors again worry about how the eurozone will solve its debt crisis. Italy’s 10-year bond yield exceeded 7%, a benchmark that makes traders nervous, since […]
The Wall Street Journal has reported that Russia will be relaxing taxes on flights flying over Siberia. The move should mean that flights out of Europe heading towards Far-East Asia will be at least 10% cheaper. A deal has been in the pipeline for a long time, but it was shelved […]
Even as Bank of America and other major lenders back away from charging customers to use their debit cards, many banks have been quietly imposing other new fees. Need to replace a lost debit card? Bank of America now charges $5 — or $20 for rush delivery. Deposit money with […]
NEW YORK – The protest movement that began in Tunisia in January, subsequently spreading to Egypt, and then to Spain, has now become global, with the protests engulfing Wall Street and cities across America. Globalization and modern technology now enables social movements to transcend borders as rapidly as ideas can. […]
BERLIN — The window of opportunity to save the euro is rapidly closing, as the sovereign debt crisis erodes the solvency of Europe’s banks and drives up borrowing rates for even once rock-solid countries like France. On Saturday, the crisis swept away another leader, when Prime Minister Silvio Berlusconi resigned after 17 […]
Dwolla was founded by 28-year-old Ben Milne; it’s an innovative online payment system that sidesteps credit cards completely. Read more: http://www.businessinsider.com/this-28-year-old-is-making-sure-credit-cards-wont-exist-in-the-next-few-years-2011-11#ixzz1dXrVFeRD
It’s been darkly amusing watching European leaders continue to increase the size of their “bazooka” over the past two years, only to see the markets return fire, and render it useless. The solution: The ECB needs to declare an interest rate cap for various countries, and tell the market that […]
By REUTERS ZURICH: Swatch Group SA will cut supplies of watch movements to competitors to force them to invest in their own production and choke off exports to Asia where they may be used to make fake Swiss products, its Chief Executive Nick Hayek said. His comments are the latest […]
PARIS — As the bets that European banks made on United States mortgage investments went bust a few years ago, bankers piled into what they saw as a safe refuge: bonds issued by countries in Europe’s seemingly ironclad monetary union. Now, the political and financial crisis engulfing the Continent has […]
In the past, innovation leading to bigger markets have allowed the Western societies to keep growing GDP and keep paying the debts at different levels, including individual, County, State and Federal. Unless there are dramatic and big innovations, creating more trade and commerce, it will be downhill from here, in my […]
Source / Courtesy: NY Times PARIS — Russia on Thursday cleared the last major obstacle in its 18-year effort to join the World Trade Organization in what the head of the institution called a milestone for global trade. “It’s a victory for Russia, a victory for W.T.O. members, and a […]
The number of Americans filing applications for unemployment benefits fell to the lowest level in seven months, a sign the recovery may be encouraging companies to limit cuts in headcount. Jobless claims fell by 10,000 to 390,000 in the week ended Nov. 5, Labor Department figures showed today in Washington. […]
Given that a record 47 million Americans now depend on food stamps to eat, I figured I’d poke around and see how food stamps work. For example, I wanted to know: How do you get food stamps? What are they? What are the income and wealth eligibility hurdles? So, naturally, […]