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Archive for 'Business & Economics'

Sudan’s president warns of possible war with south

The Washington Examiner – AP Sudanese President Omar al-Bashir has warned of a war between Khartoum and South Sudan because their failure to settle a dispute over an oil export deal. Al-Bashir told Blue Nile TV on Friday that war “is a possibility” because of escalating tensions with Juba over the spat. But he said [...]

SEE BIG BANK MONEY-LAUNDERING EVIDENCE

World Net Daily – Jerome R Corsi A former employee of one of the world’s largest international banks has provided WND with more than 1,000 pages of documents, including customer account ledgers for dozens of companies through which the financial institution was laundering money each month, according to the whistleblower. “I found many accounts through [...]

Greece Seeks Second Rescue, Fights for Euro

Bloomberg – Jonathan Stearns Greece’s fight to win its second international bailout may only open a new chapter in its struggle to remain in the euro area. The rescue plan, which European officials and Greek creditors say may be wrapped up in coming days, includes a loss of more than 70 percent for bondholders in [...]

OBAMA ADMINISTRATION PLANS TO SHUT DOWN FANNIE AND FREDDIE

theblaze.com – Becket Adams The Obama administration is working to attract more private funding for mortgage markets while winding down government-backed housing giants Fannie Mae and Freddie Mac. U.S. Treasury Secretary Timothy Geithner told reporters that administration officials are exploring legislative options for overhauling the nation’s housing finance system with lawmakers on Capitol Hill, as well [...]

Jobless rate at three-year low as payrolls surge

Reuters -  Lucia Mutikani The United States created jobs at the fastest pace in nine months in January and the unemployment rate unexpectedly dropped to a near three-year low, giving a boost to President Barack Obama. Nonfarm payrolls jumped 243,000, the Labor Department said on Friday, as factory jobs grew by the most in a year. [...]

David Cameron to make official US visit – White House

BBC Prime Minister David Cameron will make an official visit to the US next month, the White House has said. Mr Cameron and his wife Samantha will be in the US on 13-14 March. A spokesman said President Barack Obama would welcome Mr Cameron to “highlight the fundamental importance of the US-UK special relationship”. The [...]

South Sudan shoot-out at Unity state peace talks

BBC At least 37 people have been killed in South Sudan during a shoot-out at a peace meeting aimed at ending recent violence, officials said. Officials from three states and the UN had met for talks in the remote town of Mayendit in Unity state in an effort to reduce inter-ethnic tensions. The talks were [...]

Independent Scotland would be laden with debt, warns NIESR

The Telegraph - Angela Monaghan An independent Scotland would be heavily indebted and at increased risk of default, placing greater restrictions on economic and fiscal policy, a think tank has warned. The National Institute of Economic and Social Research said Scotland would have no insurance from fiscal risk sharing with the UK if it voted for [...]

US economy creates 243,000 jobs in January

BBC The US economy created 243,000 jobs in December, the highest total for nine months, official figures show. The rise was much more than expected. Analysts had forecast an increase of about 150,000 jobs. The unemployment rate dropped to 8.3%, which was the lowest rate in nearly three years, and down from a revised rate [...]

Bernanke: Fed will protect U.S. economy from Europe

CNN - Annalyn Censky  The recovery remains “frustrating slow” in the United States, and now Europe’s debt crisis is posing additional challenges, Federal Reserve Chairman Ben Bernanke told Congress Thursday. “Risks remain that developments in Europe or elsewhere may unfold unfavorably and could worsen economic prospects here at home,” Bernanke told the House Budget Committee. But [...]

EU Official: Greece Needs Extra euro15 Billion

abc NEWS – Gabriele Steinhauser AP Greece’s international debt inspectors have discovered that the debt-ridden country still needs an extra euro15 billion ($20 billion) in help — on top of a promised euro130 billion bailout and a euro100 billion debt relief from private investors, a European official said Thursday. The European Commission, the executive arm [...]

Why Are We Still in Afghanistan?

IRNUSA News – Sean Scott Ferguson Recently the BBC saw a secret NATO report which says that the Taliban in Afghanistan are being directly supported by the Pakistani security services – the ISI (Inter-Services Intelligence). There is nothing particularly new about this revelation, as we have heard much on this alignment before. It is the [...]

CALIFORNIA TO RUN OUT OF CASH BY MARCH

The Sacramento Bee California will run out of cash by early March if the state does not take swift action to find $3.3 billion through payment delays and borrowing, according to a letter state Controller John Chiang sent to state lawmakers today. The announcement is surprising since lawmakers previously believed the state had enough cash to last through the [...]

Greek Default: Orderly or Disorderly?

FoxNews.com – Dunstan Prial The question of whether or not Greece will default seems moot at this point. Greece is in the process of defaulting. The only question is whether the default will be orderly or disorderly. Make no mistake. The ongoing negotiations in which Greek debt holders are being asked to take losses estimated [...]

Indiana governor signs right-to-work bill

FoxNews.com – AP Against a backdrop of loud opposition from protesters, Indiana has become the first Rust Belt state to enact the right-to-work labor law prohibiting labor contracts that require workers to pay union representation fees. Republican Gov. Mitch Daniels signed the bill Wednesday after it passed the Senate following weeks of discord that saw House Democrats boycott [...]

Bundesbank sinks deeper into debt saving Europe

The Telegraph – Ambrose Evans-Pritchard Germany’s Bundesbank has entirely exhausted its stock of private assets and run up a quarter of a trillion euros in liabilities propping up the eurozone system, testing the political limits of EMU solidarity in Germany. The operations are part of the European Central Bank’s ‘TARGET2′ network of automatic payments between [...]

Warm winter creates winners and losers in U.S. economy

Reuters – Edward McAllister Halfway through what might turn out to be the second mildest U.S. winter on record, major parts of the nation’s economy are feeling the impact, for better or worse. Apparel sales have been dented, ski slopes are emptier, and there has probably been a modest impact on economic figures for everything [...]

Royal Navy to send HMS Dauntless to Falkland Islands

The Telegraph – Thomas Harding The Royal Navy’s most sophisticated warship is being sent to the South Atlantic in a move that will send a powerful message to Argentina. Dauntless will set sail for the Falkland Islands in the coming weeks armed with a battery of missiles that could “take out all of South America’s [...]

David Cameron: we will take legal action against European countries to protect British interests

The Telegraph – Rowena Mason Britain is prepared to sue other European countries if the new financial agreement between 25 member states threatens our national interest, Prime Minister David Cameron said today. Mr Cameron is under pressure over the fact that Britain, along with Czech Republic, will be excluded when the new group uses joint [...]