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 [...]
Ireland – The confirmation that the Irish government would need a bailout from the International Monetary Fund came from the nations leader Brian Cowen, in an attempt to salvage the troubled economy. While addressing the media at a conference, Mr Cowen revealed how ‘’the European authorities have agreed to our request.’’ He went on to [...]
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 [...]
SEOUL, South Korea — The global financial meltdown is not far from the minds of global leaders and the business community as they mingled in various forums in and around the G20 summit. The two day meeting of the Group of 20 provided ample opportunity for corporate chiefs and political leaders to trade barbs at [...]
The Commerce Department figures show that the United States imported a total of $198.1 billion against exports of $154.1 billion in September. The $44 billion deficit is down from a $46.5 billion gap noted in August. Of the $46.5 billion, China accounted for $27.8 billion, a significant 60% of the total US trade deficit, though [...]
FRANKFURT — Germany’s gross domestic product will grow 2.2 percent next year, down from a 3.7 percent increase this year, notes the German council of economic experts. Their 400 page annual report released Wednesday paints a muted assessment of the economy, though in these times, this can be interpreted as a good thing given the [...]
Slogans for anti-globalization are chanted in Seoul, South Korea’s capital, with thousands of protesters coming to rally during the Group of 20 Summit. The protesters tried to march further the streets, but riot police stopped them using pepper sprays. This week, South Korea is the host of G20, where developed countries’ leaders meet. Some of [...]
Next week, gold prices are expected to head to $1400 an ounce. As the US dollar loses its value, gold reached its highest price of $1,398 per ounce last Friday. This is considering the Federal Reserve’s continuous promotion of inflation. Gold has increased its price by 27.5% just this 2010, and it seems like it [...]
President Obama left just this Friday for an Asian trip that will result in more US jobs and export, if all works well. This trip is three days after the election was held, where the Democratic Party loss big-time due to the weak economy. During the course of the 10-day trip, President Obama will head [...]
The announcement of the $600 billion bond that the Federal Reserve will use to boost the US economy caused the world stock prices to go up and the US dollar to go down. The Federal Reserve stated its interest in buying $600 billion worth of government bonds on Thursday. This also caused oil prices to [...]
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 [...]
Paris, France – In a bid to hamper the latest pension reform changes by raising the retirement age from 60 to 62, approximately 500,000 protesters filled the French streets to voice their opinions. The latest proposals have been accepted and approved by parliament after successfully passing through the Senate. According to French law, lawmakers may [...]
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 [...]
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