The UK’s revenue from oil and gas has plummeted by 54 per cent in the space of a year from £4.7bn in 2013-14 to just £2.1bn in 2014-15 as world oil prices continue to drop. The fall is more than
It has been a difficult week for Greece, whose as-of-yet insurmountable debt to the European Union and International Monetary Fund continues unpaid and with little hope of preventing a default.
Apple premiered its paid streaming music service at 8:am this morning featuring an industry standard $10 per month on-demand content, curated playlists, and global radio station “Beats One.” The only disruptive shocker in the launch is the $15 per month “family
Puerto Rico’s governor said that the U.S. territory was in a “death spiral” and may default on the $72 billion debt it has accrued. “Even if we raise revenues and cut costs, the magnitude of the problem is such that we would not resolve anything given the weight of the debt we’re dragging,” the Democratic governor, Garcia Padilla, said in a public address.
Americans do not need to worry about the financial travails of Greece, we have our own debt crisis in Puerto Rico. Prices of the U.S. territory’s general obligations bonds that were issued in March of last year fell to 70 cents on the dollar after Democrat Governor Alejandro Garcia Padilla said investors should be “prepared to sacrifice” being paid back if they want the insolvent island’s economy to grow.
As talks between Greek officials and members of the IMF and European Union approach their conclusion before a potential exit of the Hellenic nation from the eurozone, Chinese officials are suggesting they could play a role in helping Greece pay back its debts. The Greek crisis has negatively affected the Chinese economy, which has invested millions in Greece.
Greece announced a six day bank and stock market holiday on Sunday after long lines of their citizens queued up over the weekend to drain all their savings at ATMs.
Following the April launch of an European Union regulatory investigation of biased Google search results to favor its own products , Yelp commissioned a study to determine if Google engages in any predatory actions that hurt users.
As Greece’s politicians work to agree on a deal with its European creditors that will keep it from default, and the Greek people struggle with newly-imposed capital controls and an increasingly dire economic situation, thousands of migrants from Syria, Afghanistan, and African countries continue to land on Greek shores, pressuring an already crippled economy.
This article originally appeared at Reuters: EU authorities made a last-minute offer to salvage a bailout deal that could keep Greece in the euro as the clock ticked down on Tuesday, with Germany warning that time had run out to
Salaried workers who earn nearly $1,000 per week would become eligible for overtime pay under a proposal President Barack Obama unveiled Monday, lamenting that too many Americans are working too many hours for less pay than they deserve.
Former Texas Governor and Republican presidential candidate Rick Perry dubbed the US debt “immoral” in an interview with Fox News Channel host Greta Van Susteren released on Monday. Perry began by touting his economic record as Governor of Texas and
Greek Prime Minister Alexis Tsipras has forced all banks in the country to shut down and limit the amount of money Greeks can withdraw from ATMs. This is in anticipation of a July 5 referendum on whether Greece should accept economic reforms in exchange for a shot at not defaulting on its $271 billion debt to the European Union and the IMF.
The climate alarmists, generally the same people who dis the church and its position on abortion, the origin of life on earth, and the definition of marriage, appear practically giddy over Pope Francis’ recently released climate encyclical. Even Al Gore, who admits he was “raised in the Southern Baptist tradition,” has declared he “could become a Catholic because of this pope.”
Since humans don’t behave the way models say we should, those economic models make a lot of bad predictions. “Virtually no economists saw the financial crisis of 2007-08 coming,” he admits (although another behavioral economist, Robert Shiller, did warn about soaring housing prices). “Worse, many thought that both the crash and its aftermath were things that simply could not happen.” The answer is to empower people through free markets.
Greece and its principal creditors—the European Union, European Central Bank and International Monetary Fund—should acknowledge that Athens will never be able to repay the €131 billion it owes, write down its debt and let the Aegean nation exit the euro gracefully.
A day after Apple began the mass purge of applications depicting the Confederate flag, the Nazi Swastika is still featured prominently in some games. The choice to ban a purported symbol of slavery from historical games, but not of mass genocide, reveals how tech companies struggle to apply hate speech guidelines — often with strange inconsistency.
The fast-track law allows Congress to ratify or reject such agreements, but not change or filibuster them. The president, in a written statement, said the congressional votes “represent a much-needed win for hardworking American families.”
China on Wednesday gave its first-ever assessment of the scourge of drug abuse, saying it caused annual economic losses of 500 billion yuan ($80.54 billion) and as many as 49,000 deaths last year.
The Supreme Court ruling on King v. Burwell will soon decide whether the Affordable Care Act permits the federal government to subsidize health insurance premiums. Those should be struck down for both legal and economic reasons—and in simple fairness to most Americans who have found it makes no economic sense to buy health insurance through federal and state exchanges.
The ACA clearly states subsidies may only be paid to individuals who qualify on the basis of income, “through an Exchange established by the State.”
Supporters of the world’s wealthiest terrorist group, the Islamic State (ISIS), have begun circulating images on social media, confirmed by anti-ISIS activists, of gold coins minted within ISIS strongholds, allegedly a “currency” that will be put to use in the near future.
Liberals are positively giddy that Pope Francis has joined their crusade against fossil fuels. They are probably disappointed that he didn’t blast the Koch Brothers, too, in his widely heralded encyclical.
Gmail officially added the ability to temporarily un-send an email, promoting an experimental feature long popular with power users. The “undo” feature pairs delightfully well with the favorite email strategy of Google Executive Eric Schmidt: replying to important messages immediately and constantly throughout the day.
Greece will never be able to pay all it owes, and the sooner its principal creditors—the European Union, European Central Bank and International Monetary Fund—face reality, the better for everyone.
