Archive for the 'Economy' Category
Mexican Police Chief Killed with Rifle from Fast and Furious Program
July 8th, 2013Via: Los Angeles Times: A high-powered rifle lost in the ATF’s Fast and Furious controversy was used to kill a Mexican police chief in the state of Jalisco earlier this year, according to internal Department of Justice records, suggesting that weapons from the failed gun-tracking operation have now made it into the hands of violent […]
Deutsche Boerse to Launch Cloud Exchange to Trade Computing Power
July 6th, 2013Via: Reuters: German financial markets operator Deutsche Boerse is planning to commoditize computing power with the launch early next year of the world’s first independent exchange for trading cloud computing capacity. The advent of cloud computing, whereby a remote network of computers is made available online, has not only enabled users to ditch much of […]
And Now… Talking Train Window Advertisements
July 6th, 2013When I saw this yesterday, I was sure that it was a hoax. I guess it’s real. Via: BBC: A German firm is proposing to transmit adverts via train windows so that the sound appears to “come from inside the user’s head” when passengers lean against them. The idea would use bone conduction technology, a […]
Approved: HSBC Setttlement for Drug Money Laundering
July 3rd, 2013Via: Reuters: A federal judge has approved HSBC Holdings Plc’s (HSBA.L)(HBC) record $1.92 billion settlement with federal and state investigators of charges that it flouted rules designed to stop money laundering and thwart transactions with countries under U.S. sanctions. While noting “heavy public criticism” of the settlement, which enabled HSBC to escape criminal prosecution, U.S. […]
Absurd Giveaway to Corporate Fascists Delayed Until 2015
July 3rd, 2013Via: New York Times: In a significant setback for President Obama’s signature domestic initiative, the administration on Tuesday abruptly announced a one-year delay, until 2015, in his health care law’s mandate that larger employers provide coverage for their workers or pay penalties. The decision postpones the effective date beyond next year’s midterm elections.
More Temp Workers Than Ever Before
July 2nd, 2013Via: Time: On June 7, the Labor Department reported that the nation had more temp workers than ever before: 2.7 million. Almost one-fifth of the total job growth since the recession has been in the temp sector. One list of the biggest U.S. employers placed Kelly Services second only to Walmart. Outsourcing to temp agencies […]
Companies Switch to Prepaid Cards for Payroll, Employees Pay Ridiculous Fees
July 1st, 2013Via: New York Times: A growing number of American workers are confronting a frustrating predicament on payday: to get their wages, they must first pay a fee. For these largely hourly workers, paper paychecks and even direct deposit have been replaced by prepaid cards issued by their employers. Employees can use these cards, which work […]
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 […]
