Iran threatens to stop Gulf oil if sanctions widened
TEHRAN (Reuters) – Iran threatened on Tuesday to stop the flow of oil through the Strait of Hormuz if foreign sanctions were imposed on its crude exports over its nuclear ambitions, a move that...
Category: Currency
Sears to close 100 to 120 Kmart, Sears stores
(AP) NEW YORK – Sears Holdings Corp. plans to close between 100 and 120 Sears and Kmart stores to raise cash after a weak holiday shopping season for the retailer. The closings fueled speculation...
Euro banks get $639B loan
(CBS/AP) FRANKFURT, Germany — The European Central Bank loaned a massive 489 billion euro ($639 billion) to hundreds of banks for an exceptionally long period of three years to shore up a financial system...
Home sales during housing bust worse than thought
NEW YORK (CNNMoney) — Existing home sales during the housing bust were actually 14.3% worse than previously reported, a revision to Realtors’ group numbers shows. On Wednesday, the National Association of Realtors (NAR) revised...
China Hackers Hit U.S. Chamber
A group of hackers in China breached the computer defenses of America’s top business-lobbying group and gained access to everything stored on its systems, including information about its three million members, according to several...
Italian economy shrinks by 0.2% fuelling recession fear
Italy’s economy shrank by 0.2% in the three months to the end of September, fuelling fears of a recession in the eurozone giant. The figures, released by the country’s official statistical agency, Istat, show...
Fact check: The exploding student loan debt chart
This Occupy Wall Street-affiliated chart, at right, flew around Facebook and Twitter this week as hundreds of people used it to share their frustrations about ballooning student debt in America. It’s also inspired blog posts at Jezebel and Buzzfeed,...
Iranian Official Threatens Military Drill Sealing Off the Strait of Hormuz
A high-ranking Iranian official has said Iran’s military will practice sealing off the Strait of Hormuz, the world’s most important oil transport channel, in a provocative move that illustrates Iran’s capability of disrupting the...
Occupy protesters seek to shut West Coast ports
OAKLAND, Calif. — Anti-Wall Street protesters along the West Coast joined an effort Monday to blockade some of the nation’s busiest ports from Anchorage, Alaska, to San Diego, with the thought that if they cut...
A new world order
If history teaches us anything, it is that it repeats itself. In 2016, according to the Inter-national Monetary Fund (IMF), China’s economy will overtake America’s. Chinese GDP, assuming an average annual growth rate over...
