Archive for the 'Economy' Category
Recovery: Bankruptcies Reach Nearly 5-Year High
August 18th, 2010Via: CNBC: U.S. bankruptcy filings have reached the highest level since 2005, government data released on Tuesday show, as the economy slows and the unemployment rate hovers just below double digits. There were 422,061 bankruptcy filings between April and June, according to the Administrative Office of the U.S. Courts, up 9 percent from 388,148 in […]
Gulf Oil Spreading East on Sea Floor
August 17th, 2010Florida Oil Spill Law: Full Time Coverage of Gulf of Mexico Situation: Florida Oil Spill Law Via: CNN: Oil from the Deepwater Horizon spill may have settled to the bottom of the Gulf of Mexico further east than previously suspected and at levels toxic to marine life, researchers reported Monday. Initial findings from a new […]
Third of Experts Who Advised World Health Organization on Swine Flu Had Received Support from Drug Companies Involved with Vaccine Research
August 17th, 2010I’m surprised that it’s only a third. Via: AFP: Five of the 15 experts that advised the World Health Organisation about swine flu pandemic alerts had received support from the drugs industry, including for flu vaccine research, the WHO revealed on Wednesday. The agency released for the first time a list of the 15 members […]
Oakland: Mr. Lee’s Greater Hong Kong
August 16th, 2010It’s right out of Snow Crash. Where are the Kong Bucks? Via: New York Times: In a basement office that serves as a police headquarters and community center, Oakland Chinatown leaders pored over maps of the neighborhood with representatives from a private security firm last week. “Many of our merchants are already installing cameras,” said […]
Goldman Sachs Could be Largely Unaffected by ‘Financial Overhaul’
August 16th, 2010Don’t worry, I won’t bring back the smirking Blankfein banner. Via: Los Angeles Times: As Wall Street scrambles to find the best and most profitable way to operate under the new financial reform law, Goldman Sachs Group Inc. — the firm that was expected to suffer the most under the legislation — could emerge practically […]
UAE Imports Five Tons of Fake Gold
August 16th, 2010Via: Emirates 24|7: Several tons of gold imported into the UAE by traders and investors turned out to be fake on closer inspection, resulting in millions of dirhams in losses and high levels of stress to the victims. Speaking to Emirates 24|7, Mohamad Shakarchi,, Managing Director of Emirates Gold, said: “A lot of people in […]
Another Threat to Economy: Boomers Cutting Back
August 16th, 2010See the Bloomberg piece, U.S. Is Bankrupt and We Don’t Even Know It: We have 78 million baby boomers who, when fully retired, will collect benefits from Social Security, Medicare, and Medicaid that, on average, exceed per-capita GDP. The annual costs of these entitlements will total about $4 trillion in today’s dollars. Yes, our economy […]
Companies Rush to Issue Riskier Debt as Investors Look for Higher Returns
August 16th, 2010Via: Wall Street Journal: U.S. companies issued risky “junk” bonds at a record clip this week, taking advantage of keen investor appetite for returns amid declining interest rates and tepid stock markets. The borrowing binge comes as the Federal Reserve keeps interest rates near zero and yields on U.S. government debt are near record lows. […]
Cattle Cloned from Dead Animals to Produce ‘That Memorable Taste’
August 16th, 2010Bon Appétit! Via: BBC: Some of the cattle cloned to boost food production in the US have been created from the cells of dead animals, according to a US cloning company. Farmers say it is being done because it is only possible to tell that the animal’s meat is of exceptionally high quality by inspecting […]
Even Street Criminals Are Spending Less
August 16th, 2010Via: Guardian: Richard Gaines is one of the best-known faces on Camden’s Haddon Avenue. It is a rough-and-tumble street, lined with cheap businesses and boarded-up houses, and is prey to drug gangs. Gaines, 50, runs a barbershop, a hair salon and a fitness business. He works hard and is committed to his community. But Haddon […]
