Archive for the 'Economy' Category
Kitco Named By Revenue Quebec In Massive Tax Fraud Investigation, Seeks Receivership
June 14th, 2011I meant to post this a couple of days ago, but it was stuck in ‘draft’ status. Via: Jesse’s Café Américain: Here is a translation of the Revenue Quebec press release from The Financial Post. The Post has also reported that Kitco has asked the court to appoint a receiver. “Kitco Metals Inc. has never […]
Greek Parliament Preparing Evacuation Tunnel Ahead of Austerity Vote [???]
June 13th, 2011Via: Covering Delta: I just became aware of this report from Kontra channel here in Greece. Apparently, a tunnel that leads from Lykavitos to the Greek parliament, and from there to the sea port of Piraeus, is being cleaned out by foreign workers in preparation for the possible evacuation of Greek MP’s in the event […]
Blackwater Hires Former AIG Regulatory Compliance Chief
June 13th, 2011I couldn’t make it up if I tried. Via: Wired: Nothing says, “We’re through with scandal!” quite like hiring a former executive from one of the country’s leading economic bloodsuckers. Blackwater — sorry, Xe Services — really wants to turn the PR page from the bad old days of Nisour Square, when the infamous private […]
In Greece, Some See a New Lehman
June 13th, 2011Via: New York Times: Bond traders and officials at the European Central Bank have been unified in their warnings that a restructuring of Greece’s debt would set off an investor panic similar to the one that followed the bankruptcy of Lehman Brothers. Others, however, have argued that Greece’s debt of 330 billion euros, or $473 […]
‘The War You Don’t See’: A Film You Won’t See — An Open Letter to Noam Chomsky and the General Public
June 13th, 2011Via: Common Dreams: Dear Noam, I am writing to you and a number of other friends mostly in the US to alert you to the extraordinary banning of my film on war and media, ‘The War You Don’t See‘, and the abrupt cancellation of a major event at the Lannan Foundation in Santa Fe in […]
Britain: Sign Into the Dole Website with Facebook
June 13th, 2011Via: Register: Facebook and other social networks could be used by British citizens to sign into public services online, The Register has learned. A Cabinet Office spokeswoman confirmed to us this morning that the department was speaking to “a range of industry” about its ID assurance scheme, a prototype for which is expected in October […]
Bitcoin: Spectacular Slaughter
June 12th, 2011Warning: This is not a recommendation to buy, sell or hold any financial instrument. Update: 20.20 —End Update— Update: Bounce Off MtgoxUSD 10.25 It hit a low of 10.25 and is currently trading at 16.08 x 16.32. —End Update— The public participation phase of bitcoin was the most spectacular I’ve ever seen—with the typical, disastrous […]
Hillary Clinton to Run World Bank?
June 10th, 2011Via: Telegraph: Hillary Clinton has been in discussions with the White House about stepping down from her job as Secretary of State to become head of the World Bank, according to reports. Mrs Clinton, the former First Lady, Senator for New York and rival to President Barack Obama in the 2008 Democratic primary race, is […]
Russia Halves Belarus Power Supply Over Unpaid Bills
June 10th, 2011Via: BBC: Moscow has halved electricity supplies to Belarus over unpaid bills, piling on pressure for it to privatise lucrative assets. A source at Russia’s energy export monopoly said supplies – which account for 10% of the country’s needs – might stop completely on 19 June. Confirming the cut, Belarus said it owed $54m (£33m). […]
Americans’ Equity in Their Homes Near Record Low
June 9th, 2011Via: AP: Falling real estate prices are eating away at home equity. The percentage of their homes that Americans own is near its lowest point since World War II, the Federal Reserve said Thursday. The average homeowner now has 38 percent equity, down from 61 percent a decade ago. The latest bleak snapshot of the […]
