Archive for the 'Economy' Category
Afghans Believe U.S. is Funding Taliban
May 29th, 2010NATO Forces Supplied Food, Water and Arms to Taliban Forces in Southern Afghanistan By some miracle, the article doesn’t mention opium. Via: Guardian: It’s near-impossible to find anyone in Afghanistan who doesn’t believe the US are funding the Taliban: and it’s the highly educated Afghan professionals, those employed by ISAF, USAID, international media organisations – […]
Goldman Trying To Get SEC Charge Knocked Down To “Material Omission” Instead Of Fraud
May 28th, 2010Funny how that Blankfein banner keeps coming in handy. Ok, maybe it’s not funny. Via: Business Insider: Goldman’s trying to settle with the SEC on a lesser charge than fraud, say John Gapper and Francesco Guerrera of the FT. The firm is also seeking to pay hundreds of millions of dollars in fines and damages […]
Government Wants to Monitor Networks of All Critical Infrastructure Providers
May 28th, 2010Oh sure. Via: Wired: Companies that operate critical infrastructures and do not voluntarily allow the federal government to install monitoring software on their networks to detect possible cyberattacks would face the “wild” internet on their own and place us all at risk, a top Pentagon official seemed to say Wednesday. Defense Deputy Secretary William Lynn […]
Canada Will Spend $885 Million on Security for G-8 and G-20 Summits
May 28th, 2010Via: AP: Canada’s Conservative government says the nearly $1 billion it plans to spend on security at the G-8 and G-20 summits next month is worth it. Canada has budgeted up to $930 Canadian (US$885 million) for the summits. By comparison, the stated amount spent by Pittsburgh on security for last September’s G-20 summit was […]
Spain Loses AAA Rating at Fitch as It Struggles to Cut Debt
May 28th, 2010Via: Bloomberg: Spain lost its AAA credit grade at Fitch Ratings, which said the country’s debt burden is likely to weigh on economic growth. The ratings company cut the grade one step to AA+ and assigned it a “stable” outlook, according to a statement from London today. Spain has held the top rating since 2003. […]
Bond Sales Fall to Least in Decade, Yields Soar
May 28th, 2010Via: Bloomberg: Companies sold the least amount of bonds in a decade this month as concern Europe’s sovereign debt crisis will slow the global economy drove up relative borrowing costs by the most since the aftermath of Lehman Brothers Holdings Inc.’s collapse.
Chinese Rally Monkey Boosts Futures
May 27th, 2010Via: Bloomberg: Stocks and U.S. futures surged and the euro snapped a three-day decline against the dollar as China said it remains a long-term investor in Europe, damping concerns that the region’s debt crisis will worsen. Commodities rallied.
Transocean Will Make $270 Million from Insurance Payout on Destroyed Oil Rig
May 26th, 2010The rig that blew up was over-insured by $270 million. Fascinating coincidence! Hmm. Did BP hold dead peasant insurance on the rig workers who died? Via: Politico: Eighteen Democratic senators have asked the Justice Department to investigate the operator of the Deepwater Horizon offshore drilling rig after the company announced it would dole out $1 […]
Civil Fine in Gulf Spill Could be $4,300 a Barrel
May 26th, 2010In other news: Obama Biggest Recipient of BP Campaign Cash. Via: Reuters: Just how many barrels of oil are gushing into the Gulf of Mexico from the Deepwater Horizon spill is a billion dollar question with implications that go beyond the environment. It could also help determine how much BP (BP.L) and others end up […]
Plummeting Marijuana Prices Create A Panic In California
May 26th, 2010Understand the purpose of the drug war with just one story. Hint: Law enforcement is used to keep supplies down and prices high. So what changed? California is broke and the state government wants a cut of the action. Via: NPR: For decades, illegal marijuana cultivation has been an economic lifeblood for three counties in […]
