Archive for the 'Economy' Category
Equifax Must Pay $18.6 Million After Failing to Fix Oregon Woman’s Credit Report
July 29th, 2013Via: The Oregonian: A jury Friday awarded an Oregon woman $18.6 million after she spent two years unsuccessfully trying to get Equifax Information Services to fix major mistakes on her credit report. The judgement, likely to be appealed, appears to be one of the largest awarded to a consumer in a case against one of […]
Billionaire Steven Cohen Throws a Party Despite Indictment
July 29th, 2013Via: Reuters: Hedge fund billionaire Steven A. Cohen did not let the filing of criminal charges against his $14 billion SAC Capital Advisors get in the way of a party this weekend at his vacation estate in tony East Hampton, New York. The Saturday night party at Cohen’s 10-bedroom home on Further Lane took place […]
Bank of Cyprus Depositors Lose 47.5% of Savings Over 100,000 Euros
July 29th, 2013Via: AP: Depositors at bailed-out Cyprus’ largest bank will lose 47.5 percent of their savings exceeding 100,000 euros ($132,000), the government said Monday. The figure comes four months after Cyprus agreed on a 23 billion-euro ($30.5 billion) rescue package with its euro partners and the International Monetary Fund. In exchange for a 10 billion euro […]
Recovery: 4 Out of 5 U.S. Adults Struggle with Joblessness, Near-Poverty or Reliance on Welfare
July 28th, 2013Can I get some green shoots with that? Via: AP: Four out of 5 U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream. Survey data exclusive to The Associated Press points to an increasingly globalized U.S. […]
Halliburton to Plead Guilty to Destroying Gulf of Mexico Oil Spill Evidence
July 28th, 2013You’ll think it’s comedy hour on Cryptogon this morning when you get to the part about the penalty. Via: BBC: US company Halliburton will plead guilty to destroying evidence relating to the 2010 Gulf Of Mexico oil spill. The plea agreement, which is subject to court approval, means Halliburton will have to pay the maximum […]
Spills at Alberta Oil Sands Operation
July 28th, 2013Via: The Star: Oil spills at a major oil sands operation in Alberta have been ongoing for at least six weeks and have cast doubts on the safety of underground extraction methods, according to documents obtained by the Star and a government scientist who has been on site. Canadian Natural Resources Ltd. has been unable […]
U.S. Federal Debt Has Apparently Exceeded Legal Limit
July 26th, 2013Via: ETF Guide: U.S. federal debt has been stuck at $16,699,396,000,000.00 for 68 straight days, according to the Daily Treasury Statement on July 24. That amount is exactly $25 million less than the legal borrowing limit of $16,699,421,000,000.00 set on May 17, 2013. But that’s only part of the story. A digger deep at the […]
Japan to Mull Pre-Emptive Strike Capabilities
July 25th, 2013Via: Reuters: Japan is likely to start considering acquiring the ability to launch pre-emptive military strikes in a planned update of its basic defense policies, the latest step away from the constraints of its pacifist constitution. The expected proposal, which could sound alarm bells in China, is part of a review of Japan’s defense policies […]
Britain: Lawrence Family Hacks The Matrix
July 24th, 2013Via: Daily Mail: A family sold their four-bedroom house for life on a narrowboat – because they could no longer afford the cost of living. Now, the Lawrences make savings of £8,000 per year on household bills. After their property went under the hammer for £249,000, they moved on to the 65ft boat, worth £80,000, […]
Spain Taps Social Security Reserve Fund to Pay Pensions
July 23rd, 2013Via: Reuters: Spain tapped its social security reserve fund for the second time in a month on Monday, the Labour Ministry said, to help with extra summer pension payments as unemployment and retirement costs deplete government funds. The government turned to the fund for 3.5 billion euros ($4.6 billion) on July 1 then for a […]
