US – For the third quarter in a row this year, U.S homeowners who owe more money than the actual value of their homes dropped again. However, this may seem like it is good, but this trend could in fact be a sign of bad days to come. According to Corelogic, a housing data firm, [...]
US – Over one billion $100 bill notes have had to be quarantined and stopped from circulation as a printing problem occurred during production of the latest high-tech notes. The problem has affected more than ten percent of the global amount of the United States notes. Washington DC is now home to the flawed money [...]
US – If you have not seen it yet you soon will, filling stations with gas over $3. Unless there is a dramatic drop in the price of crude. The Lundburg Survey completed Friday, showed the national average price per gallon of self-serve unleaded gasoline at $2.91, increased by 3.9 cents since two weeks ago. [...]
New York, US – A report revealing how the U.S would be supporting a larger bailout for Europe by means of the International Monetary fund, has led to the Euro soaring. As soon as the report came to light, trading in New York witnessed the euro being traded from $1.3011 and increased by over one [...]
Lisbon, Portugal – Costs of borrowing has been bumped up by just over ten percent due to the recent financial crisis that is looming over Europe. Despite the nations leader, Jose Socrates maintaining that his county is not looking for international aid, in the form of a bailout, speculation still grows among other European members [...]
Portugal – The economically troubled nation has just witnessed its first general strike in over two decades, which included approximately three million workers who are in protest against the nations recent stringent austerity measures and proposed changes. In an attempt to save the countries dwindling economy, proposed cutbacks and a 21% to 23% rise in [...]
No sooner did the unrest from protest against government mandated increases in college tuition subside did the government take yet another step sure to stir the hornet’s nest. On Thursday, Prime Minister David Cameron’s administration released details of the biggest restructuring effort in Britain’s mega welfare system since the middle 1940s. The government characterized the [...]
China’s own Central bank’s academic adviser said that China must reform the yuan to its true value. It is a little known secret that there is market intervention being done by China to stabilize its currency.
With a trio of market moving events scheduled for this week, Wall Street is bracing for what could be a short term disappointed, especially given the recent bull market. Fireworks begin on Tuesday with the midterm elections, followed by action on Wednesday when the Federal Reserve hashes out its plans for the economy and finally [...]
Europe – To save the euro from a crisis almost brought on by the Greek debts situation, leaders from the European Union have made a deal on tough new budget rules. According to the European Council President Herman Van Rompuy, the Union “sealed a solid pact to strengthen the Euro.” It will give the EU [...]
United Kingdom – An International policy group which consists of both old and new Members of Parliament have urged the British government to create a post for someone in the field of green economics. The chosen minister would have to undertake tasks such as taking care of ‘natural capital’, similar to the position of Treasury [...]
US – The US Federal Reserve chairman, Ben Bernanke is aiming to strengthen the economy with rounds of quantitive easing after revealing that there is a “case for further action,” when addressing the Boston regional federal reserve. Government bonds will be purchased in a strategy that will help lower the total costs of borrowing in [...]
Manchester City has disclosed surprising debts of £121,000,000, placing the team in at second spot for obtaining the highest possible debts in the history of the premiere league. Sheikh Mansour’s vast shelling out spree on brand-new foreign players has recognized the cost of earnings (£133.3 million) to surpass the actual gross annual earnings of £125 [...]
Thousands of homeowners gathered outside the Los Angeles Convention Center on Thursday with various financial documents, from pay stubs to mortgage documents, credit reports and even letters from their lenders. They came from all over with the intent of receiving better terms on their mortgages in what was promoted as a free, five-day, non-stop mortgage [...]
Europe – A co-ordinated strike has taken place across Europe amid pay and budget cuts. The streets of Brussels saw protesters and Warsaw saw approximately 5,000 people demonstrating. Major transit hubs as well as hospitals were affected during the striking. A total of 11 capitals across the continent were affected by the general strikes. “This [...]
Ireland, Europe – Fears of the Irish economy moving into a ‘double dip’ recession have been sparked after the unstable economy contracted during the second quarter of the year. When a nation’s economy gets smaller for two quarters in a row, it denotes a recession. The most recent figures have been devastating for the country [...]
UK – The Bank of England’s £200 billion ($322b) latest money-printing programme has seen pension fund deficits soar, which is inevitably going to cause a rift between trustees and shareholders. The so-called quantitive easing has seen the return on government bonds greatly reduced and is having a chaotic effect on how pension fund trustees are [...]
Brussels, Belgium – In the latest attempt to reinforce budget rules enforced by the EU, finance ministers from the Union have arranged to submit future budget plans to be reviewed by the European Commission including several other EU governments. “This is a major improvement of our economic governance architecture,” said Economic and Monetary Affairs Commissioner [...]
France – The second most popular French fast food outlet ‘Quick’ has controversially started selling Halal-only food from 22 out of 346 of their restaurants. It trails in second place behind the more popular McDonalds. Their aim is to target more of the Muslim community. They claim that they are exploiting an area of the [...]
The Labor Department stated that initial claims for unemployment insurance increased last week to an adjusted half a million people. The last time the figures were this high was back in November 2009. Jobless claims shot up 12,000, to 500,000, relative to the previous week. Analysts had been expecting the seasonally adjusted claims to drop, [...]
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