Business

Greece Cut to Junk at S&P as Contagion Spreads

Wed, 28 Apr 2010 14:07:00 +0000

Greece’s credit rating was cut three steps to junk by Standard and Poor’s, the first time a euro member has lost its investment grade since the currency’s 1999 debut. The euro weakened and stock markets throughout the region plunged.

Harrisburg, Pennsylvania, Council Told to Consider Bankruptcy

Wed, 28 Apr 2010 13:37:00 +0000

Harrisburg, Pennsylvania, which has missed $6 million in debt payments since Jan. 1, should consider seeking Chapter 9 bankruptcy protection, City Controller Dan Miller told a three-hour special committee hearing.

US economists: The stimulus didn't help...

Tue, 27 Apr 2010 12:50:00 +0000

The recovery is picking up steam as employers boost payrolls, but economists think the government's stimulus package and jobs bill had little to do with the rebound, according to a survey released Monday.

Texas town vows fight to keep illegal immigrants from renting houses

Tue, 27 Apr 2010 12:25:00 +0000

As the national debate over illegal immigration reignites, Farmers Branch remains in the middle of the battle as city leaders refuse to accept the unconstitutionality of rules they put in place to prevent illegal immigrants from renting homes.

Most Greeks disapprove of EU/IMF aid deal - poll

Tue, 27 Apr 2010 12:23:00 +0000

A majority of Greeks disapprove of their government's decision to ask for financial aid from the European Union and the International Monetary Fund, the first opinion poll taken since the request showed on Tuesday.

Shanghai World Expo set to open

Tue, 27 Apr 2010 11:09:00 +0000

Visitors to Shanghai's World Expo say organizers have plenty of kinks to iron out before the event -- the biggest-ever World's Fair -- formally opens on May Day.

EXTRA! Wall Street Journal heads into NY hyperdrive

Mon, 26 Apr 2010 12:51:00 +0000

The Wall Street Journal is offering some businesses firesale prices for full-page ads in its highly anticipated New York edition to seduce advertisers away from The New York Times.

Top financial watchdogs at US Securities and Exchange Commission surfed for porn on Internet

Sat, 24 Apr 2010 18:40:00 +0000

At the SEC, all they thought about was SEX. The country's top financial watchdogs turned out to be horndogs who spent hours gawking at porn Web sites as the economy teetered on the brink, according to a memo released Thursday night.

Vice President Biden sees up to 200,000 new US jobs next month

Sat, 24 Apr 2010 16:28:00 +0000

Vice President Joe Biden predicted on Friday the U.S. economy would create 100,000 to 200,000 jobs next month, with a rise to 250,000 to 500,000 jobs per month soon afterward, according to a press pool report.

New $100 Bill Released by U.S. Treasury

Thu, 22 Apr 2010 15:47:00 +0000

The U.S. Treasury refreshes its currency every once in a while to stay a step ahead of counterfeiters, and this time they’re refreshing the new $100 bill.

Microsoft Investigating Sweatshop Allegations in China

Wed, 21 Apr 2010 17:57:00 +0000

Following a recent report by the Pittsburgh-based National Labor Committee, Microsoft is investigating allegations of improper working conditions in a Chinese manufacturing plant (via Eurogamer).

Goldman Sachs: the bank that thought it ruled the world

Wed, 21 Apr 2010 17:38:00 +0000

Goldman Sachs was ‘doing God's work' - but it is now being investigated for fraud. Harry Wilson reports.

Billionaire financier George Soros warns of bigger market crash to come

Fri, 16 Apr 2010 15:15:00 +0000

At an event hosted by The Economist magazine on Wednesday, George Soros warned investors that the methods used to resolve the 2008 financial crisis are no different than the methods that helped cause the crisis to begin with.

US might face shortage of 150,000 doctors in 15 years

Wed, 14 Apr 2010 16:22:00 +0000

Experts warn that there won't be enough doctors in the United States to treat the millions of American newly insured under the health care law.

California proposal aims to raise excise tax on wine by 12,675%

Sat, 03 Apr 2010 17:48:00 +0000

A proposal in California would tax wine about $5 a bottle, which would increase the excise tax on a bottle of wine by 12,675 percent.

Israeli MP proposes "popcorn law" to cap snack prices at entertainment venues

Thu, 01 Apr 2010 11:36:00 +0000

An Israeli lawmaker has proposed a bill that would limit the prices of snacks offered at movie theatres and other public entertainment venues.

FDA fighting increasing food fraud

Wed, 31 Mar 2010 19:13:00 +0000

An estimated 5 to 7 percent of the U.S. food supply is affected by food fraud, according to John Spink, an expert on food and packaging fraud at Michigan State University. An article in The Washington Post details how the Food and Drug Administration (FDA) is trying to fight off the fraudsters.

Historic health care reform bill passed by US House

Mon, 22 Mar 2010 14:29:00 +0000

The U.S. House of Representatives voted 219-212 on Sunday to send the health care overhaul bill to President Barack Obama for his signature in order to extend coverage to 32 million uninsured Americans, reduce deficits and ban insurance company practices such as denying coverage to people with pre-existing medical conditions, Associated Press reported.

Venezuela cuts 80 firms off electricity as punishment for not saving energy

Mon, 22 Mar 2010 12:13:00 +0000

Venezuela announced on Sunday 80 companies that have failed to reduce power usage, will be cut off electricity for 24 hours, as the South American country is trying to save energy amid an electricity crisis.

Wachovia Bank admits laundering Mexican drug money, pays $160 million in settlement

Fri, 19 Mar 2010 15:19:00 +0000

Wachovia Bank reached a $160 million settlement with the Justice Department over allegations that a failure in bank controls enabled drug traffickers to launder money by transferring money from Mexican currency-exchange houses to the bank.