Archive for the 'Economy' Category
Sony Loses Cyberwar, Cancels Theatrical Release for ‘The Interview’ on Christmas
December 17th, 2014Via: Variety: With theater chains defecting en masse, Sony Pictures Entertainment has pulled the planned Christmas Day release of “The Interview.” In announcing the decision to cancel the holiday debut, Sony hit back at the hackers who threatened movie theaters and moviegoers and who have terrorized the studio and its employees for weeks. “Those who […]
Obama to Announce Easing in U.S.-Cuba Relations
December 17th, 2014Via: Bloomberg: President Barack Obama will end the U.S. isolation of Cuba that has persisted for more than a half century, initiating talks to resume diplomatic relations, opening a U.S. embassy in Havana and loosening trade and travel restrictions on the nation. The steps effectively end an embargo that has been one of the most […]
Most Politically Active Corporations Receive $760 from U.S. Government for Every Dollar Spent on Influencing Politics
December 17th, 2014Via: Sunlight Foundation: Between 2007 and 2012, 200 of America’s most politically active corporations spent a combined $5.8 billion on federal lobbying and campaign contributions. A year-long analysis by the Sunlight Foundation suggests, however, that what they gave pales compared to what those same corporations got: $4.4 trillion in federal business and support. That figure, […]
Russia Tries Emergency Steps for Second Day to Stem Ruble Plunge
December 17th, 2014Via: Bloomberg: Russia tried for a second straight day to reverse a rout in the ruble with emergency measures, narrowing President Vladimir Putin’s options in confronting the country’s deepest financial crisis since 1998. The ruble rose after the Finance Ministry announced that it bought the currency. The rebound came after a plunge yesterday in the […]
Oil Still Dropping
December 16th, 2014$53.80. Via: Reuters: U.S. stock index futures fell on Tuesday as a slide in the Russian rouble and crude oil prices sent traders fleeing risky assets. The rouble (RUB=) lost more than 17 percent against the U.S. dollar even after Moscow’s central bank hiked its main interest rate to 17 percent from 10.5 percent. Brent […]
New Zealand: “Are Electricity Prices Rising Too Quickly?”
December 16th, 2014Disclosure: I sell solar power systems in New Zealand. There are multiple retailers, so a functional market must exist! Right? Cartel. Cartel. Cartel. This is a word that crooks on both the left and right hope you’ll never understand. Cartel: In economics, a cartel is an agreement between competing firms to control prices or exclude […]
Reposit Power
December 15th, 2014Disclosure: I sell solar power systems in New Zealand. Via: REneweconomy: A Canberra-based company is to introduce new technology that it says could help turn electricity markets on their head – by allowing households to buy and sell electricity on the market. The buying and selling of electricity has hitherto been the province of large […]
Russia Defends Ruble With Biggest Rate Rise Since 1998
December 15th, 2014Via: Bloomberg: Russia took its biggest step yet to shore up the ruble and defuse the currency crisis threatening its stricken economy. In a surprise announcement just before 1 a.m. in Moscow, the Russian central bank said it would raise its key interest rate to 17 percent from 10.5 percent, effective today. The move was […]
The Devalued American Worker
December 15th, 2014Via: Washington Post: The American economy has stopped delivering the broadly shared prosperity that the nation grew accustomed to after World War II. The explanation for why that is begins with the millions of middle-class jobs that vanished over the past 25 years, and with what happened to the men and women who once held […]
Strikes Across Belgium Cause Transport Chaos
December 15th, 2014Via: BBC: A nationwide strike in Belgium has brought air, rail and road transport to a standstill and forced many businesses to close. Hundreds of flights to and from Belgium have been cancelled, as well as Eurostar services to Brussels. The widespread industrial action is the latest in a series of strikes protesting against the […]
