Archive for the 'Economy' Category
Student Loan Rates Set To Double On July 1
June 29th, 2013Via: NPR: The interest rate on government-backed student loans is going to jump from 3.4 percent to 6.8 percent Monday. Republicans, Democrats and the Obama administration could not agree on a plan to keep it from happening. Lawmakers say a deal is still possible after the July 4 recess. But if they don’t agree on […]
Foreign Central Banks Selling U.S. Treasuries
June 29th, 2013Bernanke better get ready to use that magic Bid button. Via: Reuters: Foreign central banks’ overall holdings of U.S. marketable securities at the Federal Reserve fell in the latest week, data from the U.S. central bank showed on Thursday. The Fed said its holdings of U.S. securities kept for overseas central banks fell $29 billion […]
Monsignor Scarano Says He Can ‘Explain Everything’
June 28th, 2013Via: BBC: A senior Italian cleric has been arrested in connection with an inquiry into the Vatican bank scandal over allegations of corruption and fraud. Monsignor Nunzio Scarano works in the Vatican’s financial administration. A secret service agent and a financial broker have also been arrested. They are suspected of trying to move 20m euros […]
Foxconn to Speed Up ‘Robot Army’ Deployment
June 27th, 2013Via: IT World: Manufacturing giant Foxconn Technology Group is on track with its goal to a create a “million robot army”, and already has 20,000 robotic machines in its factories, said the company’s CEO Terry Gou on Wednesday. Workers’ wages in China are rising, and so the company’s research in robots and automation has to […]
Genetically Engineered Sugar Beets Destroyed in Southern Oregon
June 27th, 2013Via: Oregon Live: Federal investigators are asking the public to help solve middle-of-the-night crimes that left ruined fields of genetically engineered sugar beets in rural Jackson County. The crop destruction took place over the course of two separate nights in early June, when an unknown individual or group destroyed about 6,500 sugar beet plants genetically […]
San Diego Man Facing 13 Years in Prison for Writing Anti Bank Slogans on Sidewalks Outside Banks
June 27th, 2013Update: Acquitted Via: AP: The mayor called the case “stupid” and a jury swiftly said it shouldn’t stick, taking the eraser to vandalism charges for a man who wrote anti-bank slogans on San Diego sidewalks. A Superior Court jury deliberated for five hours after a four-day trial before acquitting Jeff Olson Monday of the 13 […]
BP Thinks It Overpaid Damages for Gulf of Mexico Oil Spill Disaster
June 27th, 2013Via: AP: BP oil spill settlement payments are being aggressively contested by London-based BP. The company may seek to recover what BP calls ‘overpayments’ that businesses received from the court-supervised settlement program for the BP oil spill in the Gulf of Mexico. Research Credit: almaverdad2
80% of Pre-Packaged Foods in America Are Banned in Other Countries
June 25th, 2013Via: Yahoo: If you or your kids enjoy pre-packaged convenience foods commonly found in grocery stores across the U.S. such as Froot Loops, Swanson dinners, Mountain Dew, and frozen potato and bread products, you may think twice before purchasing them after hearing what they contain: dangerous chemicals that other countries around the globe have deemed […]
Anglo Irish Bank Executives: Financial Collapse as Piss Take
June 25th, 2013Via: Irish Independent: TAPE RECORDINGS from inside doomed Anglo Irish Bank reveal for the first time how the bank’s top executives lied to the Government about the true extent of losses at the institution. The astonishing tapes show senior manager John Bowe, who had been involved in negotiations with the Central Bank, laughing and joking […]
Africa: U.S. Spreads Blowback Nightmare
June 25th, 2013Via: Asia Times: A careful examination of the security situation in Africa suggests that it is in the process of becoming Ground Zero for a veritable terror diaspora set in motion in the wake of 9/11 that has only accelerated in the Obama years. Recent history indicates that as US “stability” operations in Africa have […]
