Spain: Back in Recession
(Reuters) – Spain’s borrowing costs shot up at a bond auction on Thursday, after economic data confirmed the country is back in recession and reports of an outflow of deposits from nationalized Bankia hammered...
Category: Currency
Voter fraud allegations in mayoral election rock New Mexico city
Sunland Park, N.M. – There is perhaps no other city in the country like Sunland Park, N.M. The dusty border town minutes from El Paso, Texas, has been called “a city in chaos” by...
Greece on brink of collapse: Bank Runs
(multimedia at bottom of article) Europe’s financial crisis lurched into a perilous new phase as dire predictions emerged of a collapse in Greece’s economy, with a run on its banks bringing an inevitable end...
Taxpayers Fund $454,000 Pay for Collector Chasing Student Loans
Joshua Mandelman made $454,000 in a single year as a student-loan debt collector — more than twice the pay of the U.S. secretary of education. His boss, Richard Boyle, chief executive officer of Educational Credit...
Germans Fret about Their Foreign Gold Reserves
A large portion of Germany’s massive gold reserves are stored abroad, mainly in the Federal Reserve in New York. But are the bars really where they are supposed to be? A dispute has broken out over...
Nancy Pelosi: The Democrats’ $43-million weapon
Rep. Nancy Pelosi, D-Calif., became the most powerful woman in American history when she was sworn in as Speaker of the House in 2007. She lost that power four years later and is now...
Europe struggles for climate lead
UN climate talks have opened in Germany, with the EU struggling to keep its position of a global leader. Small developing countries that linked up with the EU in a new coalition last year...
Banks prepare for the return of the drachma
(Reuters) – Banks are quietly readying themselves to start trading a new Greek currency. Some banks never erased the drachma from their systems afterGreece adopted the euro more than a decade ago and would be...
Senator Blunt Says New Rules on Labor Data Risk Market Turmoil
The Department of Labor’s move to restrict how journalists transmit market-sensitive economic data risks disrupting financial markets, Senator Roy Blunt said. In a letter to Secretary of Labor Hilda Solis, Blunt, a Missouri Republican, objected to...
China buying oil from Iran with yuan
China is buying crude oil from Iran using its currency the yuan, an Iranian diplomat has said. Oil transactions are usually settled in dollars but US sanctions make it difficult for Iran to accept...
