Recently published statistics have shown that Japan suffered a decline in its exports during August of this year. Shipments to the United States began to contract, adding to existing concerns surrounding their economy. Japan has been worried about potentially pitiful growth taking place in the third quarter of 2014, after suffering a deep drop throughout April-June.  Read more

Surprising economists and investors who expected deflation and constrained growth from falling oil prices, unemployment claims cratered to their lowest level in nearly a generation.  Read more

Recently, exports in Thailand fell by their largest amount since the flooding of 2011 paralyzed the economy.  Read more

Stocks are having their worst month in three years as the Federal Reserve ends its quantitative easing program, which expanded the supply of money and helped stocks rise 30% in 2013.  Read more

Wealth inequality is growing worldwide, according to a new report by Credit Suisse. A greater share of wealth is being held by a smaller number of ultra-rich families worldwide as larger inheritances, family trusts, and similar arrangements to avoid taxes help the ultra-wealthy gain a greater portion of total capital in economies throughout Europe, Asia, and in the United States.  Read more

China is the second largest Asian country and for some time now, boasts the world's second largest economy, which has grown rapidly since the government reforms in 1978.  Read more

Recently, Spain has surprised many economists by raising its forecast towards a more positive economic growth for this year and the following year. This provides a sharp contrast to other countries in the eurozone that are currently struggling quite significantly.  Read more

Finland has lost its most recent credit rating due to eurozone instability and more Italian assets are being sold to Chinese investors as instability accelerates in the European Union and the ECB fails to convince Germany of the need for quantitative easing.  Read more

In a surprising move, the European Central Bank is considering buying Chinese yuan as a reserve currency.  Read more

For some time now, the tax system in Italy has been growing increasingly inefficient and costly. Since the economic crisis in the country, the burden of this poor system has fallen on business owners and workers, according to a new study.  Read more

Recent data has shown that North Dakota is leading the United States when it comes to personal income growth. No other state even comes close to the results that North Dakota is raking in, considering the economy, growth, and even the personal satisfaction of the locals.  Read more

Equity markets faced declines globally as the IMF downgraded growth expectations and the Federal Reserve said a fragile U.S. economy required more accommodative monetary policies in the short term.  Read more

Statistics indicate that Australia's economy is likely to remain significantly weaker for the rest of this year, and a chunk of the next.  Read more

A perfect storm of unemployed youth, political gridlock in Europe and the United States, and declining energy prices are causing more economists to warn that an economic slowdown could cause upheaval in developed and emerging nations.  Read more

Japan's current leader, Shinzo Abe, has discovered that his country is falling even further into economic troubles lately, instead of rising out of them.  Read more

Global growth is going to decelerate while American workers get fewer jobs as employers expect more for less.  Read more

The true state of Uganda's economy has been under some debate for a while now, as government officials struggle to assess its health. Some observers believe that the economy is crumbling slowly, with unemployment rates growing, businesses closing, and a sharp fall in government revenues.  Read more

Gold dipped below $1,200/oz. last week before recovering above that level in trading Monday, as inflation hedges lose favor amongst investors fearing low growth and lackluster monetary policies could yield deflation in the world’s most advanced economies.  Read more

The new economy minister for France has declared the country to be 'sick' in response to the economic crisis plaguing the French people.  Read more

A bearish trend in U.S. equities was disrupted last Friday on better U.S. employment data, but a recent study on income and poverty shows better employment is benefitting men more than women and unmarried households over married ones.  Read more

Over 5 million people between 15 and 25 years of age are unemployed in the European Union, and youth unemployment trends are worsening in many parts of the eurozone.  Read more

In the second quarter of this year, Turkey's economy has grown a smaller amount than had been expected, sending the value of the Lira to its lowest estimation in over five months. The finance minister has released a warning suggesting that the estimated growth of 4% could be missed this year.  Read more

Both manufacturing and construction in the U.S. saw anemic growth in September, counter to expectations for a steadily improving American economy.  Read more

The economic growth that Malaysia has experienced throughout the first half of this year has been announced as one of the best and most impressive in the world.  Read more

Russian politicians admit as much as $120 billion could flee Russia as the stock market and ruble decline amidst Russia’s push into Crimea and growing sanctions from the United States and the European Union.  Read more

The figure predicted for Singapore's economy has dropped from 3.8% to 3.3% in the recent survey, after figures showed that the GDP growth expected for the second quarter had not achieved its target.  Read more

Recently published statistics have shown that the British Music Industry is starting to become more valuable to the UK economy.  Read more

America is richer than it has ever been in human history, according to a study by the Federal Reserve.  Read more

Argentina’s government has begun to increase their intervention in an attempt to bolster the economy. They are hoping to prevent new debt defaults which could initiate a crisis.  Read more

Analysts at two investment banks have raised their estimates for payrolls and wages in two notes released after the U.S. revised upwards their measurements for second quarter GDP.  Read more

At the moment, there is some confusion about the health of the Chinese economy. Some believe that it is beginning to stagnate, while others suggest that the economy is flowing better than ever before.  Read more

Durable orders fell 18.2% in August, causing a large stock selloff in the United States as weak consumer confidence signals a decline in aggregate demand could drag down economic growth.  Read more

Experts on the Cuban economy have recently announced that the country has been consistently suffering from a 'systematic worsening'. According to Cuba, the problem is the fault of America and the US embargo.  Read more

In a sign of growing wealth inequality and declining middle class purchasing power, more people are buying real estate in America, but less people are getting mortgages.  Read more

Lately, amounting evidence throughout the United States has begun to suggest that Republican governors could be the balm for state economies.  Read more

Stricter rules on U.S. corporate tax dodging combined with weak European manufacturing data to cause European stocks to slide.  Read more

The Group of 20 sees greater risks in historically low interest rates in developed nations as more investors are investing in emerging markets to improve returns.  Read more

Recent plans regarding a natural gas plant that has been long-delayed over the years could be the stepping-stone that may transform Ghana's economy.  Read more

Fitch Ratings affirmed its AAA rating on debts and currency issued by the United States, saying that their outlook for the U.S. economy is “stable”.  Read more

Following a recent press release regarding the workforce in Texas, over 46,600 non-farm based jobs were added in July. Currently, the unemployment rate within Texas has remained at an impressive 5.1%, far lower than the national average that is set at 6.2%.  Read more

Earlier fears of a sharp decline in economic growth and stock prices fell away as European investors dismissed risks of an independent Scotland and as the Federal Reserve indicated hesitation to raise interest rates on U.S. Treasuries.  Read more

Recent hiring numbers have begun to see a significant slowdown within the United States this year, as employers were only capable of adding a further 142,000 jobs to the market.  Read more

A Millennial (someone under 35) with a net worth greater than $10,400 is wealthier than half of their peers, according to a recent survey conducted by the Federal Reserve Bank.  Read more

The Federal Reserve announced a cut to its bond purchasing program that caused Treasuries to fall and the dollar to strengthen.  Read more

Italy fell into a troublesome triple-dip recession during the summer of 2014, facing similar challenges to those in California, New York and Illinois due to high taxes and job killing regulations.  Read more

Industrial production in the United States suddenly contracted despite more optimistic expectations of stable or growing production.  Read more

Data has recently arisen to provide evidence that manufacturers in Britain have suffered a serious slowdown.  Read more

The poorest Americans now owe 156% of their pretax income to creditors, according to a new study by the Federal Reserve Bank.  Read more

Resources expert for the federal government, Quentin Grafton, has suggested that the iron ore price will continue its rapid decrease as the economy in China begins to show clear signs of unravelling, leading to serious problems for Australia.  Read more

The second quarter has shown weakness in Switzerland's economy this week, since its prominent European Union markets of export have hit demand for the industrial goods of this Alpine country.  Read more

Stocks in the U.S. saw one of their steepest declines late last week on worries that the Federal Reserve will begin tightening its monetary policy this week.  Read more

The Department of Labor reported a surprising uptick in unemployment claims on Thursday, with 315,000 new claims for the week ending September 6th. That was above the prior week’s reading of 304,000 and above expectations of 300,000. With this increase, the 4-week moving average has risen to 304,000, slightly above the low for 2014 at levels seen at the end of 2007.  Read more

In the second quarter of this year, Canada's economy experienced a highly appreciated boost as households began spending more, to an annualized pace of 3.1%. This is the largest quarterly gain that Canada has experienced since 2011, in the third quarter. The increase in GDP, gross domestic product, was far larger than the rate of 2.7%, which is what economists were expecting. Following a slow start, which is estimated to be the economy's worst performance in over a year, the country will benefit from the unexpected jump.  Read more

The Federal Reserve announced a proposed change to its forward guidance that could cause bond rates to rise in the United States sooner than expected.  Read more

As France continues to stagnate economically because of socialism and high taxes, and Italy falls back into an increasingly worrying recession, the international community is often looking to Germany as a savior for the Euro. With Portugal and Greece struggling to stay on their feet, it's common to hear economists preaching about how the south of Europe could learn a lot on public debt and governance from their German neighbors.  Read more

Job openings rose 22% year over year in July, according to a new report by the Bureau of Labor Statistics. A total of 4.7 million job openings were posted in July, compared to 3.8 million in July 2013 and 4.7 million in June.  Read more

For over a decade, Israel's economy has managed to withstand the global financial crisis that has brought other countries to their knees, whilst weathering various military conflicts at the same time. Despite all of the factors that could have brought Israel down, the economic growth hasn't struggled much, nor has the flow of foreign investment. However, that could be about to change. Experts suggest that the strength of Israel's economic run, led by former finance minister Yuval Steinitz, could be facing an abrupt end, as the era of sustainably heavy growth steadily falls into history.  Read more

Globally equities have fallen amidst fears that European quantitative easing will not be enough to counteract rising interest rates for U.S. Treasuries and falling money supply growth in China.  Read more

In previous reports, New Zealand's economy has largely been considered one of the safest economies after emerging from the Global financial crisis largely unscathed. However, economists are now beginning to suggest that the growth boom could be wearing off and state that New Zealand's economy could be on the rocks, once temporary growth factors disappear. This could cause a significant slowdown for this island nation.  Read more

The British pound saw the heaviest losses in a year as all European equity indices fell as the looming vote for Scottish independence uncovers a hidden counter-trend to European unionization.  Read more

Foreign investment generated in Zimbabwe has fallen by more than fifty percent over the first six months of this year, according to the chief of the country's central bank, John Mangudya. In comparison to the $165 million figure that was received throughout the same period in 2013, Zimbabwe only managed to gain $67m in investment this year. The policy considered by the government to return economic control to black Zimbabweans has been met by a degree of misunderstanding by foreign investors, according to Mangudya.  Read more

The Federal Reserve said that the U.S. economy did not see a significant change in its rate of growth in August, as the twelve regional Federal Reserve Districts all reported business ongoing but steady optimism about the rate of economic growth in their regions. The comments came in the Federal Reserve’s Beige Book report, released this Wednesday.  Read more

The economy of South Africa has recently escaped recession within the second quarter of this year, although figures still show economic growth within the region to be relatively weak. Crippled, in particular, by the strike action that took place within the platinum sector for the initial half of 2014, real domestic product (GDP) has managed to grow by an increase of 0.6% on a seasonally adjusted, annualized, and quarter-on-quarter basis within the second quarter.  Read more

For the second consecutive year, the Russian government have agreed upon a decision to freeze the amount of pension contributions that are allowed for investment. A response given by the ministry of social protection and labor suggested that the funds would be utilized to finance current pension payments instead. Contributions for last year, (2013) equaled approximately 550 billion rubles, which equates to about $15.2 billion.  Read more

The European Central Bank lowered interest rates as the Bank of England kept its record low rate steady on low inflation and falling wages in Britain. The ECB decision comes soon after France and Germany showed disappointing GDP growth and the possibility of a recession. Italy also fell into its third recession in as many years.  Read more

A sudden cease-fire in the Ukrainian conflict has caused European and U.S. stocks to rally in early morning trading as fears of geopolitical instability ease.  Read more

Recent research has suggested that the Philippine economy may be set to experience long-term growth, expanding even further than the 7.2% estimated in the absence of common election-related costs.  Read more

The ISM Manufacturing index rose by 2 points to 59, above estimates of 57, according to the Institute for Supply Management. Any number above 50 indicates expansion. With an expanded rate of manufacturing, the U.S. is seeing manufacturing expand at the fastest rate in three years. The index also saw a high for new orders that indicate demand has reached its strongest level since 2004.  Read more

Currently, tax evasion is estimated to be one of the biggest issues that has begun to break down the heart of Romania's economy, holding back the country and ensuring it remains steadily in place as one of the poorest places in the European Union. The estimated costs of the undeclared economy are considered to be huge, and approximately a quarter of the people working in Romania are currently believed to be out of reach of most tax inspectors. At this point, if all activity within Romania was properly taxed, it is believed that national revenues could double.  Read more

Recent speculation that the ECB will begin an asset-purchasing program has come into doubt after German Finance Minister publicly said monetary policy has “come to the end of its instruments”.  Read more

The socialist president of France, Francois Hollande, has recently announced his intentions to stick to a fiscal program that he released in January, even after returning from his vacation to find that the country's economy has remained stagnant, and fewer French citizens than ever before believe his policies will be able to fix the situation.  Read more

Economic experts expected the unemployment rates to stay at 6% or below this July, but instead they increase to 6.25%, allowing the United States to shine brighter for the first time since 2006. Though many business leaders in America believe its unemployment rate to be a sham because the federal agency does not count people who stopped looking for work and those that are underemployed. Moreover, between May and July, the unemployment rate has rose from 6 to 6.4% in Australia, and the number of employed people in total dropped by 300 according to the Australian statistical bureau.  Read more

Some may have heard various reports throughout the world of the Ebola virus beginning to spread. While there have been a few suspected cases in various areas, countries in Africa are now beginning to close their borders to prevent any more of an outbreak. In fact, South Africa is refusing to admit any person from the infected areas of West Africa.  Read more

Jobless claims fell by 14,000 to 298,000 in the week ending August 16th, according to the Department of Labor. This was lower than most analysts had expected, spurring speculation that the Federal Reserve may tighten its monetary policy faster than predicted. The previous week’s claims were revised up by 1,000.  Read more

The ratings agency known as 'Fitch' has recently upgraded its view on Irish debt to an A- grade. This announcement said that the country has recently begun to experience less vulnerability within their banking sector, and improved trends within the economy. The agency delivered its assessment recently in a pre-budget boost, suggesting that the outlook for the rating was considered to be stable. This means that they currently do not expect to see any significantly stormy economic clouds on Ireland's horizon.  Read more

Enhanced productivity and a consistent growth in stable wages over the past ten years have allowed the UK to emerge as an increasingly competitive economy, even in comparison with various Eastern-European countries. Recent evidence has suggested that the UK economy is finally beginning to recover its mantle as a hub for global manufacturing, becoming the cheapest location to produce goods throughout the entire Western Europe.  Read more

The S&P 500 hit 2,000 for the first time in history shortly before the Bureau of Economic Analysis revised upwards their estimates for GDP growth in the second quarter of 2014. While stocks have reversed course from their weekly high, U.S. equities remain attractive to investors as more investors bet on equities thanks to improving economic conditions and the possibility of a quantitative easing program by the European Central Bank.  Read more

In the month of June, German industrial output managed a miniscule rise of only 0.3 percent, falling far short of the rise that was predicted around 1.3%. Mixed with the fears that the crisis in the Ukraine has created, the weak industry output of Germany has suggested that Europe's largest economy could be seriously struggling in its second quarter.  Read more

The United States GDP rose at a 4.2% annual rate in the second quarter, according to a new estimate by the Commerce Department’s Bureau of Economic Analysis.  Read more

The U.S. Federal budget deficit is declining at a faster pace than previously projected, according to a new report by the Congressional Budget Office.  Read more

The company that owns the largest, most productive factories throughout Gaza, 'Gaza City' had their operations destroyed through airstrikes and artillery shells, leading them to comment that Israel may have intentionally targeted the industrial sector in Gaza in order to bring the economy crumbling down.  Read more

Equities broadly rallied for the week as cooling tensions in Ukraine, stable unemployment rates in the U.S., and emerging markets saw growing demand for debt. Investors have eschewed the risk aversion that saw U.S. stocks fall in the first half of August, while commodity prices sought a bottom and fears of deflation were replaced with confidence in a global return to consistent growth.  Read more

Spain is a member of the European Union (EU), the Organization for Economic Cooperation and Development (OECD), and the World Trade Organization (WTO). It has a mixed capitalist economy and is the 14th largest economy in the world. The currency of Spain is the euro. The economy is dependent on tourism, the export of semi manufactured goods, automobiles, fruits, renewable energy, and manufacturing.  Read more

The S&P 500 hit 2,000 in intraday trading Monday morning after mixed results in Asia and a strong rise in European equity markets. Investors and traders are helping stocks rally as European Central Bank President Mario Draghi hints at a looser monetary policy in Europe aimed at targeting deflationary threats in the core of the EU.  Read more

Less Americans are buying new homes as the prices of those homes become unaffordable, according to new data from the Department of Commerce and the U.S. Bureau of Labor Statistics. While salaries are beginning to see modest rises of roughly 2% growth on a year-over-year basis, home prices have risen much faster in a shorter period of time, but those home prices are beginning to stagnate as demand falls for homes amidst tight credit and diminishing affordability in the housing market.  Read more

Argentina looks to avoid a U.S. court ruling that forced the nation into default while the Bank of China announced a sale of $5 billion worth of subordinated bonds. Both markets have seen a flood of liquidity and attention from investors as low yields in developed markets urge bond buyers to invest further afield.  Read more

67 years ago Pakistan gained independence from British rule. At the time, the country found itself dependent on agriculture and were economically poor. In the first fifty years, Pakistan picked itself up, but nonetheless Pakistan still has a long way to go. War, lack of social stability, in-house political clashes, and lack of population control, has set the country back in terms of growth and development.  Read more

The Bureau of Labor Statistics reported stable regional and state unemployment rates in July that indicated a growing divergence between states and counties. The unemployment rate remained at 6.2% across states, down 110 basis points from a year ago.  Read more

European stocks began the weak with a strong rally in Monday morning trading on news that Ukraine and Russia governments have begun high-level talks.  Read more

The sharp decline in economic growth during the FIFA World Cup was an unexpected result of the global event, but it was a result that many in the football mad country could weather. Many- but not most. Now that the event has passed, the country is experiencing an 11 billion dollar hangover. The massive layoff of scores of temporary workers is not helping matters either.  Read more

By now everyone is noticing that most nations are coming out of the financial crisis which began in 2008, even if it still means supplying large sums of money for the economy. However, some of the processes being used to bring nations out of this stump are coming under question (such as Bush's and Obama's ridiculous stimuluses), especially when it comes to the European Central Bank (ECB). As many people know, banks are the driving force of an economy.  Read more

Asian stocks post one of their best weeks in months on strong earnings and bets that Central Banks, particularly in China, will loosen monetary policies. On Friday, the Shanghai Shenzen CSI 300 Index added over 1% in trading near closing as the Hang Seng posted gains of 0.6%. The Nikkei was flat on mixed trading, although up for the week.  Read more

For most nations, when imports begins to decline, the amount of exports usually follows suit since it is difficult to continue sending items when there may be nothing with which to make them. However, China is changing this common perception as their exports are continually rising, and have been for the last several months, with a total increase 5.5% in June alone. This leaves China receiving a number of mixed signals as it appears their economy is beginning to improve, but that the middle class, which tends to spur the economy the most, is stalling.  Read more

Germany’s economy shrank for the first time since 2012 in the second quarter of this year, according to the German Federal Statistics Office. The German GDP fell 0.2% after rising 0.7% in the first quarter, below analysts’ expectations. The eurozone’s largest economy previously saw 0.8% growth in the first quarter, which analysts had expected to be threatened by the Ukraine crisis. Last week, European Central Bank President Mario Draghi admitted that the Ukrainian conflict posed a threat to the eurozone economy.  Read more

While the European Union surrounding the United Kingdom seems to continue struggling, the United Kingdom is beginning to see numbers improve at the completion of this year's second quarter, according to information released by the International Monetary Fund. Considered to be one of the fastest-growing economies, its repeated growth for the last several quarters proves it is finally reaching pre-recession standards.  Read more

Less Americans are applying for mortgages and retail sales growth is decelerating amidst sluggish demand from consumers.The Commerce Department reported retail sales excluding cars rose 0.1% in July, down from 0.2% in June. In a separate report, the Labor Department saw inflation-adjusted average weekly earnings fall by 0.2% in the 12 months to June 2014, the biggest decline since October 2012.  Read more

Despite efforts to improve the state of the economy worldwide, including the European Union, geopolitical issues have dictated otherwise, causing various countries' stocks to slip and create an increased amount of worry. While most analysts believed the European Union was starting to see a comeback, the lowering numbers have shocked them, and they believe the geopolitical issues have a direct effect.  Read more

Starting a few years ago, several countries within the European Union (EU) were placed under direct scrutiny to determine causes of debt and attempt to reconcile the issue through various bonds being sent. While Greece and Spain were the hardest hit initially, other countries are beginning to feel the effect, specifically Italy and Germany. While Italy was initially targeted, especially when it slipped into a recession in 2012, it has been gradually improving, until numbers were released for the last quarter.  Read more

Home prices rising as slow and steady pace making it more difficult to find a home priced below $200,000 in U.S. markets.  Read more

Asian stock markets saw strong gains in Monday trading, erasing much of the losses suffered in August as a number of encouraging data points emerged from China, Japan, and Ukraine.  Read more

Due to Prime Minister Shinzo Abe’s growth strategy, known as Abenomics, Japan’s stockmarket is up by three-fifths since he came into office. However, despite the progress made by Abe and his allies, Japan’s economy likely shrank for the first time in nearly two years during the second quarter. The reason for the economic decline appears to be due to the weaker than expected consumer spending. Although the recent sales tax hike definitely helped weaken consumer spending, it appears that a decline in the wages of Japanese workers is putting a real drag on the economy.  Read more

Following Britain's lead, the United States economy has begun to recover after a severely disappointing start for this year. As freezing weather took its toll within the initial months of 2014, high taxes, job killing regulations, Obamacare, and so on, the GDP (figure used to determine the complete size of the economy) fell by a rate of approximately 2.9%. However, the 2nd quarter of the year displayed some growth in the GDP, leading some analysts to believe that the world's largest economy could not be so devastated to its own people.  Read more

U.S. equities fell this week, as did European stocks on fears that a new recession in Italy could endanger the economic recovery of the broader European Union. Stocks fell in spite some strong economic data that showed the U.S. job market was recovering, although at a slow pace.  Read more

Experts suggest that there may be more turmoil to come in Russia as the economy is on the brink of absolute disaster.  Read more

Initial jobless claims fell sharply this week while continuing claims were also below expectations.  Read more

In 2011, the well-known historian, Patrick French, wrote and released a book which offered revealing data regarding the hold that lineage and family has had on Indian politics. The text, 'India: A Portrait', suggested that if the trend continued, India could be seen to slide backwards in progression to days when the country was ruled by a single hereditary monarch and various princes.  Read more

Italy has officially turned into a recession as GDP shrank 0.2% in the second quarter after shrinking 0.1% in the first quarter of 2014. The contraction has surprised analysts, who were expecting economic expansion in the EU state amid a broader continent-wide recovery.  Read more

More companies and small business are borrowing money, and banks are lending more to private enterprises, in a sign that the U.S. economy is continuing to improve.  Read more

Recently, Bupa, Britain's largest company for private healthcare, announced to the BBC that they believe they are charging their own customers far too much for care, and that the industry should be encouraged to think urgently about how they set their prices.  Read more

After defaulting on its bonds for the second time in thirteen years last week, Argentina is in danger of seeing the value of its currency fall even further, which will only make it harder for the nation to honor its outstanding debts.  Read more

After an aviation meeting backed by the United Nations failed to produce any new guidance, requests are being made for the UK government to step in and offer advice to airlines on the potential threats of flying over various war zones.  Read more

The Bureau of Labor Statistics (BLS) reported 209,000 jobs were added in July, far below expectations and a steep drop from the prior month, which saw 298,000 total nonfarm jobs were added in the United States. In July, the unemployment rate rose to 6.2% from 6.1%.  Read more

The International Monetary Fund (referred to commonly as the IMF) has recently disclosed information that suggests Britain may have the fastest growing economy out of any sizeable developed country.  Read more

In arecent QFinance blog, Shaun Richards poses the question of whether the adoption of negative interest rates by theEuropean Central Bank(ECB) on money parked with it by banks, would lead to the banks themselves adopting a similar negative interest rate policy ondepositoraccounts. It is an interesting point, though from the standpoint of savers, the ECB’s play – even if it is not passed through to savers by their banks - simply emphasizes the plain and obvious fact that this whole accommodative monetary policy with its “lower-for-longer” philosophy, has been hammering the living daylights out of savers.  Read more

Portugal has decided to forgo to a final 2.6 billion euros in funds due under its international bailout programme, choosing rather to finance itself in bond markets, reported Reuters on Friday.  Read more

Russia has threatened to shut off its natural gas supply to Ukraine by 06:00 GMT on Monday, after last-minute talks in Kiev failed to resolve a long-running dispute over prices.  Read more

Russia and Ukraine are set to resume talks today to resolve a dispute over natural gas prices, despite already missing a deadline for Kiev to pay off some its debts without Moscow cutting off supplies.  Read more

Cybercriminals – i.e. hackers, industrial or corporate spies etc. etc. – are causing nearly $445 billion in economic damage every year, according to a report from the Center for Strategic and International Studies (CSIS), with the damage for businesses nearly double that for individuals.  Read more

A massive oversight saw France’s national train operator SNCF purchase 341 new trains that were “too wide” for about 1,300 of its existing platforms, reported Radio France Internationale on Wednesday.  Read more

After decades of negotiation, Russia and China on Wednesday finally signed a $400 billion natural gas deal, which will Russian state gas giant Gazprom provide a trillion cubic metres in gas to the world’s second largest economy over 30 years.  Read more

In its most aggressive action taken against China thus far, the U.S. Justice Department on Monday charged five Chinese military officials for economic cyber-espionage, issuing a formal indictment and even “wanted” posters against the accused.  Read more

The Russian government has poured over $200 billion in loans and economic aid into Ukraine over the last 20 years, claimed Minister of Economic Development Alexei Ulyukaev on Monday, emphasising why Russia has shown such strong interest in the future of Ukraine.  Read more

The U.S. Department of Energy has been ordered to end a 31-year-old scheme that had charged electricity consumers for the future construction of a nuclear waste dump, after collecting over $40 billion over the years placed into a trust fund.  Read more

Swiss voters have rejected a proposal to introduce what would have been the world’s highest minimum wage at 22 francs ($25) an hour, citing the possible impact on employment and economic competitiveness.  Read more

Tourists heading to the football World Cup in Brazil this June will spend more than $3 billion in the country, according to a government forecast on Wednesday.  Read more

China has begun work on building an airstrip or military outpost in the disputed Spratly Islands in the South China Sea, said the Philippines on Wednesday, just a week after the Chinese also deployed an oil rig in another set of disputed waters near Vietnam.  Read more

Russia’s state gas giant Gazprom has threatened to cut off its supply of natural gas to the Ukraine starting from June 3rd, unless the Ukrainian government pays $1.7 billion in advance for future shipments.  Read more

The cost of building the Mane Garrincha stadium in Brazil’s capital of Brasilia has nearly tripled from its initial estimate, said government auditors on Wednesday, blaming corrupt officials for a lack of oversight into construction firms.  Read more

The United States has decided to cancel all trade benefits extended to Russia under its Generalized System of Preferences (GSP) scheme – that been designed to help developing countries grow their economies by lowering tariffs for exports to the U.S.  Read more

Chinese officials are discussing the possibility of building a high-speed railway line from Beijing to the United States, reported the China Daily last week, with the proposed railway set to pass through Russia, Alaska and Canada before hitting the American mainland.  Read more

Chinese Premier Li Keqiang on Monday pledged an extra $12 billion in assistance funds to the African continent, taking the total loans to over $30 billion, reported Reuters.  Read more

Nearly 60 percent of global applicants seeking second citizenship or second residence programmes come from the Middle East region, according to a recently published study on ultra-high-net-worth (UHNW) individuals by intelligence firm Wealth-X and global citizenship experts Arton Capital.  Read more

Japan’s population remains on a rapidly aging path, with the number of children (aged under 15) having fallen to a record low of just 16.33 million, according to government statistics on Sunday.  Read more

Portugal will exit its three-year 78 billion euro bailout programme this month, announced Prime Minister Pedro Passos Coelho on Sunday, opting not to seek a precautionary credit line from its lenders; choosing rather to rely solely on markets for its financing needs.  Read more

France’s Parliament on Wednesday passed a new law which would allows workers to donate their paid leave to colleagues in the event of a seriously ill child, reported Radio France Internationale.  Read more

The Chinese economy is on track to replace the U.S. as the world’s largest economy – measured by purchasing power parity (PPP) – by the end of this year, according to a World Bank report on Wednesday.  Read more

The Greek government is set to give out nearly 524 million euros in “social dividend” to those hit hardest by the past six years of recession, reported the Financial Times on Thursday, following an unexpected a surprise 1.5 billion euro budget surplus achieved last year.  Read more

U.K.’s central bank, the Bank of England, has ordered eight of the nation’s largest financial institutions to undergo an “extreme” stress test, which will test if they are strong enough to withstand a potential economic shock similar to conditions in the aftermath of World War I.  Read more

Russia and Iran held talks over the weekend regarding $10 billion worth of electricity deals, reported the New York Times, seeking to establish a closer partnership to undercut the efficacy of sanctions imposed on both nations by the U.S..  Read more

Microsoft co-founder Bill Gates has written an appeal to fellow billionaires from China, urging them to do more for the poor, as wealth continues to grow in the world’s second largest economy.  Read more

The U.S., Europe and their G7 partners are likely to impose new sanctions on Russia as early as today, reported the Wall Street Journal, as Russian forces continue to stationed en masse along the Ukrainian border, while a promised truce in eastern Ukraine has yet to materialise.  Read more

A major U.S.-based bank has abruptly ordered the closure of hundreds of accounts belonging to porn stars, triggering fury across the adult industry.  Read more

The Spanish economy grew by 0.4 percent in the first quarter of 2014, according to the central bank on Thursday, the fastest growth since 2008 and double the rate of increase recorded in the last quarter.  Read more

Foreign companies, particularly those in the oil and gas sector, that leave Russia over Ukraine-related sanctions may never be allowed to make a return, warned a Russian minister on Thursday.  Read more

The Ukrainian government on Wednesday sent a formal request for up to $18 billion in loans to the IMF, said Prime Minister Arseniy Yatseniuk, with the cash necessary to stabilize Kiev’s financial situation and keep the struggling economy afloat.  Read more

Just days after making its first shipment of oil from the region, Russia’s President Vladimir Putin has vowed to create a united system of naval bases for ships and next-generation submarines in the Arctic, calling on the government to provide full state funding.  Read more

German companies are set to push their regular working hours later into the day during the 2014 FIFA World Cup, reported the Bild newspaper on Tuesday, after labour unions urged bosses to allow their football-mad employees to stay up late to catch the games.  Read more

The jobless rate in the U.K. has been falling consistently since a peak in 2011, reaching 7.2 percent this month. It's still a far cry from the 5 percent unemployment the country had before the global financial crisis hit in 2008, but it has come down significantly since the 8.1 percent in August 2011, which was the nation's highest in 17 years at that point.  Read more

Check out this infographic of income tax rates around the world, as well as some of the weirdest tax laws.  Read more

Russia’s president Vladimir Putin has presented a draft law to create a casino zone in Crimea, in the hopes of boosting local revenues and reduce Crimea’s reliance on Moscow.  Read more

A Chinese court over the weekend ordered the seizure of a Japanese ore carrier that had been docked in Zhejiang Province, claiming that the ship’s parent company had failed to pay compensations for claims incurred during World War II.  Read more

Iranian President Hassan Rouhani has urged his nation to provide equal opportunities and rights for both men and women, arguing that gender equality was crucial for economic and social progress.  Read more

A German utility company has begun supplying natural gas to Ukraine under a contract signed two years ago, reported the Wall Street Journal, bringing hopes that Ukraine can reduce its reliance on gas imported from Russia.  Read more

BTC China, one of the country's leading bitcoin exchanges, has installed China's first bitcoin ATM in Shanghai, defying recent government efforts to prohibit widespread usage of the digital currency, reported Reuters on Wednesday.  Read more

The U.S. Treasury on Tuesday criticised China for resuming intervention-esque efforts to control the value of the yuan, but stopped short once again of labeling the country as a “currency manipulator” despite the yuan falling to its lowest level against the dollar in more than a year.  Read more

The Russian economy may not see any growth in 2014, admitted Finance Minister Anton Siluanov, as capital flight accelerates in the wake of the Ukrainian standoff.  Read more

The U.S.’s annual deficit is expected to fall by nearly $188 billion – from $680 billion in 2013 to $492 billion – this year, according to the Congressional Budget Office (CBO) on Monday.  Read more

Germany, Europe’s top economy, on Monday announced that it could no longer accept applicants for its “Job Of My Life” programme – a scheme created last year giving vocational training to unemployed youth from the rest of the continent.  Read more

Chile’s government is introducing new regulations that will prevent the wealthy from writing off groceries as a corporate expense, reported Bloomberg on Monday.  Read more

Worldwide military expenditure fell by 1.9 percent to $1.75 trillion last year, according to the Stockholm International Peace Research Institute (SIPRI), mainly due to large decreases in spending in the west; as large investments were noted in Asia, Russia, the Middle East and Africa.  Read more

Prices for bitcoins fell sharply on Thursday after China’s Central Bank ordered domestic financial institutions to close down the accounts of all local bitcoin exchanges by April 15.  Read more

The long-troubled Greek economy successfully returned to international bond markets on Thursday, raising 3 billion euros ($4.2 billion) from bond issues, with nearly 90 percent of the sum coming from foreign investors.  Read more

Check out this infographic, which looks at some jobs that pay out far higher than what the public think they do.  Read more

Russia and China are “very close” to agreeing on a multi-billion dollar natural gas contract, which will see state-owned energy company Gazprom supply Beijing with as much as 38 billion cubic metres of gas a year, claimed deputy prime minister Arkady Dvorkovich on Wednesday.  Read more

Russian companies listed on foreign stock exchanges should consider delisting their shares overseas and trade in Moscow instead, First Deputy Prime Minister Igor Shuvalov was quoted as saying on Tuesday, claiming that the Moscow Exchange provided additional security amid foreign sanctions on Russian entities over Crimea.  Read more

The eight largest banks in the U.S. must increase their capital levels by at least $68 billion from 2018 onwards, said federal regulators on Tuesday, in order to meet new rules designed to lessen the risk of a financial collapse.  Read more

Private clinics in Uganda's capital of Kampala are selling off bogus HIV negative test results in order to help people secure jobs, reported the BBC on Thursday, calling into question recent government campaigns promoting their successful fight against the disease.  Read more

Russia’s state-owned gas producer Gazprom on Thursday announced another price hike for its sales to Ukraine, the second increase in this week alone, reported Reuters.  Read more

In a move to crackdown on government waste and boost revenue, Italian authorities are putting 151 state-owned luxury cars up for sale on popular online auction site eBay.  Read more

Germany’s cabinet have signed off on a bill to introduce a national minimum wage of 8.50 euros ($11.75) an hour starting next year, moving away from their traditional wage structure – in place for decades – where businesses and trade unions would agree on pay and working times in collective agreements.  Read more

Russia’s foreign ministry has threatened to impede the operations of American diplomatic missions in the country, after U.S. bank JPMorgan Chase on Tuesday blocked a remittance from the Russian embassy in Kazakhstan to an insurance agency.  Read more

The United Nations will donate $1 billion to Pakistan over the next three years to provide education to more than 7 million out-of-school children, said Special Envoy on Global Education Gordon Brown over the weekend.  Read more

The Cuban parliament on Saturday unanimously passed a new law to open up the country to more foreign investments, promising less government control and greater flexibility for overseas investors.  Read more

The United Nations’ highest court, the International Court of Justice (ICJ), has banned Japan from hunting for whales off Antarctica, ruling that the nation's annual hunt was not for scientific research as Tokyo had claimed, reported the Associated Press.  Read more

The German defence ministry is considering providing military assistance to some eastern European members of the NATO defence alliance, in order to assuage fears of further Russian aggression following their actions in Crimea, reported Der Spiegel over the weekend.  Read more

In what has been described as the largest corruption scandal in the country in more than six decades, Chinese authorities have seized at least 90 billion yuan ($14.5 billion) in assets from family members and associates of former domestic security chief Zhou Yongkang – once also a member of the Politburo Standing Committee, China's top decision-making body.  Read more

Ukraine will raise domestic gas prices by as much as 50 percent starting from May 1, said the government on Wednesday, in order to meet a key loan condition set by the IMF for an expedited $15 billion bailout.  Read more

The Malaysian economy could lose nearly $1.3 billion in tourism revenue this year, according to analysts speaking to the South China Morning Post, with many Chinese tourists now cancelling their trips following the controversy surrounding the missing Malaysia Airlines flight MH370.  Read more

The world’s largest banks have forked out close to $100 billion to settle U.S.-based legal disputes since the beginning of the financial crisis, according to a research study by the Financial Times.  Read more

Organised crime syndicates in Italy operate on an annual budget of more than 200 billion euros ($276 billion), claimed the country's foreign ministry on Tuesday, with significant investments both in and outside Italy.  Read more

Medical ailments brought on by air pollution is causing up to 7 million deaths a year, said a new report by the World Health Organisation, making air pollution the world’s largest single environmental health risk.  Read more

Standard & Poor's on Monday cut the credit rating on Brazil's long-term bonds from BBB+ to BBB-, reported Bloomberg, ending a decade-long stretch of upgrades for Latin America’s largest economy.  Read more

Malware related issues linked to using pirated software could cost companies and enterprises nearly $491 billion this year alone, according to a joint study by the National University of Singapore (NUS) and the International Data Corporation (IDC), with nearly $364 billion likely to be spent on handling data breaches.  Read more

Russia is set to charge Ukraine $500 for 1,000 cubic metres of natural gas, reported the New York Times on Sunday, $100 more than what it was already charging and nearly a third higher than what Russia’s gas company, Gazprom, charges clients elsewhere.  Read more

China’s food demand is expected to double to $1.75 billion by 2050, said a new study by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), as the population continues to grow and consumption increases.  Read more

German Chancellor Angela Merkel has warned that more EU sanctions against Russia are forthcoming; further claiming that the G8, of which Russia is a member, “does not exist at present”, following Russia’s military incursion in Ukraine.  Read more

Insurance companies in China are rolling out policies that promise to cover the health risks caused by heavy air pollution, reported Reuters on Tuesday, with public interest at an all-time high due to recent media coverage.  Read more

Nigeria lost out on over $11 billion in oil revenue last year, according to the Nigerian National Petroleum Corporation (NNPC) on Tuesday, with nearly 300,000 barrels of oil stolen every day by thieves and saboteurs.  Read more

The widening wealth gap in the U.K. is costing the economy more than £39 billion ($64.7 billion) a year, according to a report by the Equality Trust think-tank, calling on all political parties to begin crafting policies to tackle the issue.  Read more

France’s foreign minister Laurent Fabius has threatened to veto the sale of two state-of-the-art warships, worth over $1.67 billion, to Russia, calling on other countries to take similar action, despite the financial losses likely to be incurred.  Read more

The Russian government has sent millions of dollars in financial assistance to Crimean leaders, just one day after the region voted overwhelmingly to split from Ukraine, according to several reports on Monday.  Read more

Nearly two million residents in Veneto region, Italy, are expected to vote this week on whether to break away from Rome and form their own state, reported AFP, though the vote is not said to be legally binding nor officially sanctioned by the government.  Read more

China will spend more than 1 trillion yuan ($162 billion) on redeveloping shantytowns this year alone, reported Bloomberg on Sunday, as it seeks to boost its urban population to 60 percent by 2020 – under the latest State Council plan.  Read more

The United States have strongly rejected the legitimacy of a referendum in Crimea to secede from Ukraine and rejoin Russia, warning of “additional costs” to Moscow if Russian President Vladimir Putin does intend to annex the peninsula.  Read more

The Japanese government has threatened to disclose the name of companies refusing to raise their employees’ base salaries following annual labour talks, reported the Japan Times on Thursday, raising the stakes in Prime Minister Shinzo Abe’s efforts to defeat deflation.  Read more

Parisian authorities are giving residents free access to public transportation this weekend, according to AFP, as a means to reduce the city’s recent severe pollution problem, caused by unseasonably warm weather over the past week.  Read more

Italy’s new Prime Minister Matteo Renzi has promised to pay down some 68 billion euros ($95 billion) in overdue debts the state owes to private companies by July, even as the government recently announced some 10 billion euros in personal tax cuts and a further 2.4 billion euros in business-tax cuts.  Read more

The largest U.S.-based companies are keeping nearly $1.95 trillion in profits in low-tax offshore accounts, according to the latest Bloomberg analysis, with tech companies such as Microsoft, Apple and IBM among the worst offenders.  Read more

All 28 members of the European Union saw an increase to their renewable energy generation in 2012, according to the Eurostat statistics bureau on Monday, edging the bloc closer to a 20-percent target for renewable energy use by the year 2020.  Read more

Italy's largest bank by assets, UniCredit, on Tuesday announced 14 billion euros ($19.4 billion) in losses last quarter, following huge writedowns on non-performing loans and past acquisitions – in preparation for a region-wide industry stress test.  Read more

The world will need to boost food production by least 60 percent by 2050 to avoid severe food shortages and chronic hunger, warned the UN Food and Agriculture Organization (FAO) on Monday, with demand for food expected to rise rapidly as the population increases.  Read more

Indian authorities are planning to build nearly 200 low-cost airports in tier-II and tier-III cities over the next 20 years, said a civil aviation ministry official on Monday, to boost growth in the civil aviation industry and to increase connectivity among smaller cities.  Read more

China recorded an unexpected trade deficit of $22.98 billion last month, according to the latest official figures, with exports falling by a staggering 18.1 percent – due in part to the Chinese New Year holidays.  Read more

Indian politicians are expected to spend around $5 billion during the lead up to the general elections next month, reported Reuters on Sunday, the second most costliest election campaign in the world – behind only the U.S. Presidential Elections.  Read more

The Chinese government on Wednesday announced its largest increase in military spending over the past three years, as tensions continue to grow in the region over disputed territory.  Read more

The European Union has pledged to provide 11 billion euros ($15 billion) in loans and grants to Ukraine over the next few years, reported Reuters on Wednesday, matching the sum initially offered by Russia before Viktor Yanukovich was pushed out of power.  Read more

The Japanese cabinet will meet to set new rules for bitcoin transactions on Friday, reported Reuters, following the collapse last week of Tokyo-based bitcoin exchange Mt. Gox – once the largest in the world.  Read more

Russian billionaires have lost close to $13 billion in wealth due to stocks plummeting in the wake of the Ukrainian crisis, reported Bloomberg on Tuesday, highlighting the potential damage to the Russian economy after the military’s actions.  Read more

Singapore is the world’s most expensive city to live in, according to the Economist Intelligence Unit’s (EIU) latest Worldwide Cost of Living survey, replacing Tokyo at the top, after moving up five spots this year.  Read more

Iraq exported 2.8 million barrels of oil per day in February, said deputy prime minister for energy affairs Hussein al-Shahristani on Saturday, the highest it has achieved since dictator Saddam Hussein invaded Kuwait in 1990, and setting the country on course to become the fastest growing crude oil exporter in the world.  Read more

The United States and the European Union will impose economic sanctions against Russia and its president Vladimir Putin if he does not withdraw some 6,000 Russian military forces who occupied parts of Crimean peninsula in Ukraine on Sunday, reported the Wall Street Journal.  Read more

India is now home to the fifth largest number of billionaires in the world, according to the 2014 Hurun global rich list, with 17 newly minted billionaires this year, reaching a total of 70.  Read more

Ukraine’s incoming prime minister Arseniy Yatseniuk has accused accused the country’s former administration of “robbing” the state Treasury, claiming that nearly $37billion of loans had disappeared, while another $20 billion in central bank reserves were stolen.  Read more

Spain’s central and regional governments may have to fork out as much as 13 billion euros ($17.8 billion) in tax refunds this year, according to Reuters, after the European Union’s highest court, the Court of Justice, ruled on Thursday that a fuel tax introduced since 2002 had violated European law.  Read more

Greece can potentially bring in more than 150 million euros ($206 billion) in state revenue over the next 30 years through untapped oil and natural gas deposits, said Prime Minister Antonis Samaras on Wednesday, with the sum worth nearly half of Greece's current debt mountain.  Read more

Hold Security LLC, an I.T. security firm based in the U.S., has claimed to have found up to 360 million stolen account credentials available for sale on cyber black markets, with most of the victims likely unaware that their information have been hacked.  Read more

Shares at Royal Mail, the United Kingdom’s main postal service company, were sold last year at less than half of its estimated value, reported The Guardian on Tuesday, suggesting that the government had significantly undervalued the public asset, thus short-changing taxpayers.  Read more

The Indian government has ordered its trade officials to block any attempt by the U.S. to investigate its trade policies and patent laws, reported Reuters, as the two countries prepare for a legal battle at the World Trade Organization (WTO).  Read more

Acting Ukrainian President Oleksander Turchinov has appealed to the European Union and the U.S. for some $35 billion in aid over the next two years, warning that his country was close to default after Russia suspended a $15 billion loan following the ouster of former Ukrainian leader Viktor Yanukovich.  Read more

Finance ministers and central bankers from the G-20 have pledged to introduce policies that will add at least $2 trillion to the world economy over the next five years, marking a shift away from austerity to growth-focused measures.  Read more

China-Africa trade totalled more than $200 billion last year, said Chinese President Xi Jinping last week, reinforcing the nation’s status as Africa’s largest trading partner since 2009.  Read more

Women across Russia, Belarus and Kazakhstan are protesting a Customs Union ban on underwear containing less than 6 percent cotton, claiming that the move was another “example of the misguided economic policies that have become a trademark of many post-Soviet countries”, reported the Associated Press on Tuesday.  Read more

The Chinese government plans to spend 2 trillion yuan ($330 billion) on new technology and public campaigns over the coming years to tackle its water pollution problem and create more usable drinking water sources, according to a report by the China Securities Journal this week, citing the Ministry of Environmental Protection.  Read more

Iran’s largest private bank, Bank Mellat, is suing the British government for $4 billion in damages, after it claimed that the U.K. Treasury wrongly imposed sanctions on it, which caused “significant pecuniary losses” to its business.  Read more

Spain’s public debt rose to an unprecedented high of $1.317 trillion in 2013, or around 94 percent of GDP, according to Bank of Spain data on Monday, nearly three times as much as it was before the start of the crisis in 2008.  Read more

Over 140 Brazilian cities have been forced to ration water amid the worst drought to hit the country in decades, reported the Associated Press on Sunday, with some neighbourhoods only receiving waters once every three days.  Read more

Since 2011, Chinese authorities have set up 25 “baby hatches” across 10 regions in the country that allow parents to safely abandon unwanted infants, reported the People’s Daily on Sunday, with another 18 regions expected to see similar schemes this year.  Read more

“Large shocks and weak macroeconomic management” over the past several years have more or less ruled out a quick recovery for Iran’s economy, even after Western sanctions lifted, said the IMF on Wednesday, urging Tehran to respond with a "prompt and vigorous" reform program to prevent further deterioration.  Read more

China will step up efforts to investigate and punish any government official or agency that falsify their data, said the country's chief statistician on Wednesday, warning that such action should be deemed as “corruption”.  Read more

A proposed U.K. group to oversee standards in banking must be led by people from outside the industry, said the man tasked with setting it up, in order to establish the group’s independence and credibility.  Read more

China’s environmental watchdog, the Ministry of Environmental Protection (MEP), vetoed as many as 32 projects last year, at a total value of over $19.5 billion, because they deemed them to be too harmful to the environment, reported Reuters on Tuesday.  Read more

Facebook founder and CEO Mark Zuckerberg gave away nearly $1 billion of his fortune to charitable organisations last year, according to the Chronicle of Philanthropy on Monday, topping the list of the biggest U.S. philanthropic donors in 2013.  Read more

Officials from China and Taiwan are set to hold the highest-level talks between the two governments since the end of the Chinese civil war in 1949, reported AFP on Tuesday, in an effort to further boost contacts and ease lingering tensions.  Read more

The size of India's e-commerce market could grow to around $70 billion in six years, said the country’s largest e-commerce firm Flipkart on Monday, after experiencing near 80 percent growth in 2013.  Read more

Iran's oil ministry is drawing up new contracts that could potentially offer international energy companies more attractive terms than even neighbours Iraq, reported Bloomberg on Sunday, as the country prepares to capitalise in the event that international sanctions are lifted.  Read more

Global food prices fell to a 19-month low in January, according to the United Nations’ Food & Agriculture Organisation on Thursday, thanks to better than expected harvests worldwide.  Read more

Wealthy Shanghai consumers spent nearly double what their counterparts in New York did on their last luxury purchase, according to a new study by Milan-based digital marketing firm ContactLab, with four out of five Shanghai residents claiming to have purchased at least one luxury item over the past 12 months.  Read more

Italy's state auditor, the Corte dei Conti, has opened an investigation into Standard & Poor's, Moody's and Fitch for downgrading Italy's debt in 2011 and 2012, claiming that the ratings cut were unjustified and caused Italy more than 117 billion euros ($158 billion) in damages.  Read more

Nearly three years after its nuclear disaster, officials from the Fukushima prefecture in Japan have committed to use only renewable energy sources by 2040, possibly going against Prime Minister Shinzo Abe’s own agenda to reboot nuclear power throughout the country.  Read more

French authorities will make a 1 billion euro ($1.35 billion) tax claim against Google Inc, reported Le Point magazine on Tuesday, following a two-year long probe into the Internet company’s tax avoidance strategies.  Read more

German Foreign Minister Frank-Walter Steinmeier has raised the possibility of imposing sanctions on Ukraine, in the event that the Ukrainian government refuses to negotiate a solution to its political crisis, reported Reuters on Tuesday.  Read more

Amid recent highly publicised scandals, the Spanish royal family has decided to reduce their annual budget by 2 percent this year, while the salaries of King Juan Carlos, Queen Sofia and their children have all been frozen, reported AFP.  Read more

Despite the bloc’s relatively clean image, corruption is still costing the European Union at least 120 billion euros ($162.2 billion) a year, according to a new report by the European Commission, who described the scale of graft as “breathtaking”.  Read more

The British Virgin Islands, with a population of roughly 27,000 people, welcomed $92 billion in foreign direct investment last year, the fourth biggest haul globally and more than what Brazil and India received combined, according to new figures by the UN Conference on Trade and Development.  Read more

Russia’s President Vladimir Putin has promised not to withdraw a $15 billion loan pledge to the Ukrainian government, even if an opposition party wins the next Ukrainian elections, reported Reuters on Tuesday, dismissing claims that he was already reconsidering his nation’s bailout offer.  Read more

The finances of Queen Elizabeth II, the British monarch, are at a "historic low", according to an audit by the Public Accounts Committee (PAC), primarily due to overspending and bad financial management, reported Reuters.  Read more

Russia’s top monetary authority, the Bank of Russia, has warned businesses and citizens away from trading with bitcoins, claiming that the virtual currency could unintentionally involve users in terrorism and money laundering activities.  Read more

Some 106 Swiss banks – out of around 300 firms – have offered to disclose information on American clients hiding assets in the country, in exchange for amnesty from the recent crackdown on offshore tax evasion by the U.S. Department of Justice, reported Bloomberg on Monday.  Read more

Tech giants Samsung Electronics and Google Inc have signed an agreement to cross-license some existing and future patents, saying that the move would “reduce the potential for litigation and focus instead on innovation.”  Read more

Spain on Thursday became the second Eurozone country, after Ireland, to exit its international bailout programme, but while the economy manage to grow by 0.3 percent, unemployment also rose from 25.98 percent to 26.03 percent.  Read more

The Chinese units of the world’s ‘Big Four’ accounting firms could be suspended from auditing any U.S.-listed Chinese companies for six months, pending an appeal, reported the Financial Times, after the U.S. Securities and Exchange Commission ruled that they had violated the Sarbanes-Oxley Act by refusing to turn over documents of companies investigated for accounting fraud.  Read more

Russian intelligence forces hacked into the networks of hundreds of Western and Asian companies in order to steal intellectual property for economic gain, claimed a report by a U.S. cyber security firm CrowdStrike, with energy and technology companies among the major targets.  Read more

South Koreans, who already enjoy the fastest internet speed in the world, will soon be able to download 800-megabyte films on their mobile phone in just one second, reported Reuters on Wednesday, after the government announced plans to invest $1.5 billion in a national 5G wireless network – reportedly 1,000 times faster than any current mobile network speed in the world.  Read more

Relatives of top Chinese leaders, including President Xi Jinping and former premier Wen Jiabao, have been their hiding their wealth in offshore tax havens such as the British Virgin Islands and the Cook Islands, revealed the International Consortium of Investigative Journalists (ICIJ) on Wednesday, citing information culled from 2.5 million leaked documents.  Read more

Argentines who shop online must now file a tax statement to the government before they can receive their goods, reported the Associated Press on Tuesday, in another effort by the country to restrict the spending of foreign currency.  Read more

Iran on Monday halted production at its most sensitive uranium enrichment, fulfilling an agreement made on November 24 last year in exchange for some sanctions relief from the U.S. and the E.U..  Read more

The number of unemployed people around the world reached an estimated 201.8 million in 2013, said the United Nations’ labour agency on Monday, warning that new job opportunities were not being created fast enough to absorb a growing workforce.  Read more

Iraq will seek legal recourse to punish Turkey and Iraqi Kurdistan, as well as any foreign companies, if they continue to export Kurdistan’s oil without Baghdad's consent, said Oil Minister Abdelkarim al-Luaybi over the weekend, threatening also to cancel all contracts with Turkish firms if the oil exports went ahead.  Read more

The U.S. Justice Department could potentially earn more than $27 million by selling 29,655 units of bitcoins seized from an online black market site last week, reported Reuters, though analysts wonder whether such a large sale could drive down the price.  Read more

Prostitutes from the tourist island of Ibiza in Spain have formed a workers’ cooperative that will entitle them to public healthcare, a pension and other benefits, as long as they declare their annual income and pay taxes, reported AFP on Thursday.  Read more

Check out this infographic, which explores the common habits of the rich; just remember, following these traits won’t necessarily make you rich…  Read more

Nearly a million poverty-stricken Zimbabweans could go hungry over the coming months, after the UN World Food Programme (WFP) announced on Tuesday that it has been forced to cut whatever-already-minimal food rations it had been giving out due to a cash crunch.  Read more

The U.S. Medicare programme spent more than $172 million of taxpayers’ dollars subsidising penis pumps between 2006 and 2011, reported Reuters on Tuesday, with a government watchdog claiming that the amount was roughly double what the average American consumer would have paid at the retail level.  Read more

Chinese visitors to France – the world’s top tourist destination – will need just 48 hours for their visas to be processed starting from January 27th, announced French Foreign Minister Laurent Fabius on Monday, in a move aimed to "massively increase" Chinese tourism.  Read more

The World Health Organisation will officially declare India as a polio-free nation by the end of March this year, pending the completion of the legal process for certification, reported The Guardian, as India celebrates three years since its last reported polio case, marking an important milestone in global health.  Read more

Nicaragua will finally begin construction on a $40 billion inter-oceanic waterway – that will rival the Panama Canal in scope and size – by the end of the year, said President Daniel Ortega on Saturday, following an agreement with a Chinese company on the future rights and management of the project.  Read more

China’s combined exports and imports hit a record $4.16 trillion last year, according to the latest figures from the General Administration of Customs, up 7.6 percent from 2012 and potentially making China the world’s biggest trader ahead of the U.S..  Read more

While many countries have outright banned or discouraged the use of bitcoins, Singapore tax authorities have laid out a guideline on how it intends to tax the purchase, sale, or exchange of Bitcoins among local businesses and individuals – by declaring it as a product or service rather than as currency.  Read more

More than 97 million Chinese tourists went abroad in 2013, beating the world in total outbound tourists and overseas spending, according to a report released on Wednesday.  Read more

Chinese companies invested nearly $14 billion in the U.S. last year, according to a new report by New York’s Rhodium Group, with more than 70 percent of investment coming from private enterprises rather than state-owned firms.  Read more

Italy's unemployment rate rose to a record high of 12.7 percent last November, revealed the National Institute of Statistics (ISTAT) on Wednesday, with some 55,000 people losing their jobs during the month.  Read more

Workers at a Goodyear tyre factory in France ‘kidnapped’ and held two of their bosses overnight on Monday to demand higher payouts for more than a thousand planned layoffs, reported Reuters.  Read more

The youngest daughter of Spainish King Juan Carlos, Princess Cristina, has been ordered to appear in court on March 8 to answer a case involving tax fraud, money laundering and embezzlement of public funds, in the latest blow to the royal family’s dwindling reputation, reported AFP on Tuesday.  Read more

Wind power generated 21.1 percent of Spain’s energy needs in 2013, reported the national energy grid this month, becoming the top source of electrical power in the country, narrowly ahead of nuclear energy at 21 percent.  Read more

Chinese companies have filed more than half of the cannabis-related patents registered worldwide, reported The Independent on Sunday, even though smoking the drug remains illegal in the country, with the possibility of a death sentence.  Read more

The first bluefin tuna auction of the year at Tokyo’s Tsukiji market is usually a big deal; but this year, sushi restaurateur Kiyoshi Kimura paid just $70,000 to nab a 507-pound fish, compared to a record breaking $1.4 million winning bid the year before.  Read more

Church leaders in Southern Italy are calling on the government to take action against the region’s mafia syndicate, after they claimed that over ten million tonnes of toxic waste had been dumped near Naples for the last 22 years.  Read more

The world’s richest people got even richer in 2013, according to the latest Bloomberg Business Index published on Thursday, adding $524 billion to their collective wealth – now at $3.7 billion.  Read more

A planned expansion of the Panama Canal, which handles 5 percent of world trade, may be suspended indefinitely according to reports on Thursday, due to a dispute between the contractors and the Panama government over cost overruns.  Read more

Taiwanese President Ma Ying Jeou on Wednesday urged the nation’s legislature to quickly approve a services trade pact with China, so as to spur economic growth for the island nation, as well as to end a decades-long political stalemate with the mainland.  Read more

Just one day after receiving approval to levy a controversial 75 percent tax on companies paying salaries of more than one million euros per annum, French President Francois Hollande has admitted that the nation’s tax burden has become “much too heavy” and pledged to form a “responsibility pact” with companies in order to create more jobs.  Read more

Greece will leave its bailout programme next year without requiring further loans from the EU, ECB or IMF, announced Prime Minister Antonis Samaras on Monday, expressing hope that the nation will soon become a “normal country.”  Read more

Local government debt in China has soared to $2.95 trillion as of June this year, announced the National Audit Office (NAO) on Monday, nearly 67 percent higher than the last tally in 2010, or about 40 percent of GDP.  Read more

Brazilians who make debit card or traveller check transactions abroad will now have to pay a 6.38 percent levy on any of their purchases, reported the Wall Street Journal on Saturday, a 16 times increase from the current rate of 0.38 percent.  Read more

France’s President Francois Hollande has been given the go-ahead to impose a 75 percent tax on companies that pay salaries of more than 1 million euros ($1.38 million) a year, after the nation’s highest court on Sunday agreed that the move would not be deemed unconstitutional.  Read more

Check out this infographic which charts the inception of the bitcoin in 2008 to the many rises and falls of the virtual currency over the past five years.  Read more

Since embarking on an anti-graft campaign drive almost a year ago, the Communist Party of China (CPC) has punished a total of 25,855 officials for “disciplinary violations” related to corruption, waste and extravagance, reported the People’s Daily on Thursday.  Read more

As many as 230,000 South Koreans have seen some or all of their debt cleared off this year, reported the Korea Times on Wednesday, thanks to a debt relief programme launched by President Park Geun-Hye – dubbed the “National Happiness Fund”.  Read more

The Chinese government could raise the national retirement age for the first time since the 1950s, according to a report by Bloomberg on Wednesday, as the country prepares for a likely labour shortage in the coming years due to a shrinking population caused by over three decades of population control.  Read more

47 percent of Pakistan’s MPs did not pay any taxes last year, while those who did paid as little as $17, according to a study released on Monday.  Read more

Nearly 85 percent of Myanmar’s population actively donate to charities, according to a study by the Charities Aids Foundation this month, representing the highest participation rate in the world out of 135 countries surveyed.  Read more

Tax revenues in the world's top economies rose last year to an average of 34.6 percent of GDP, said the Organisation for Economic Cooperation and Development (OECD) on Tuesday, suggesting a gradual recovery for both individual and corporate incomes.  Read more

46 countries, made up of both rich and emerging-market nations, have pledged to commit an additional $52 billion over the next three years to help the World Bank in its fight against extreme poverty, the bank said in a statement on Tuesday.  Read more

Despite huge anti-government rallies denouncing President Viktor Yanukovych’s ties with Russia, Ukraine could receive up to $15 billion in emergency loans from the Kremlin, on top of a large discount on natural gas, reported Bloomberg on Monday.  Read more

The United Nations is appealing for at least $12.9 billion in funding next year to aid nearly 52 million people in 17 countries, with the cost in Syria alone expected to take up about half of the total amount.  Read more

The French unit of Swedish furniture giant IKEA is facing growing backlash from the public, after it was revealed that the company had made personal investigations into its employees and customers, gathering information inclusive but not limited to private medical history and vehicle registrations, according to the New York Times on Sunday.  Read more

Nearly 53.9 million tons of electrical and electronic products were discarded by consumers worldwide last year, according to a new UN study on Sunday, with some researchers concerned over the possible environmental impact from such large-scale dumping.  Read more

Political leaders in Spain's Catalonia region on Thursday announced a November 9 date next year for a referendum on independence, though Spanish Prime Minister Mariano Rajoy later declared the move to be “unconstitutional” and has vowed to block the vote in court.  Read more

Indonesia is losing up to 320 trillion rupiahs ($26.6 billion) a year in tax receipts due to a significant shortage of available tax officers, the Jakarta Globe reported on Friday, with the government’s tax collection agency hoping to hire at least 2,500 new personnel next year.  Read more

Check out this infographic, which explores global consumption of energy and food and whether the world will soon be able to produce enough for everyone’s needs.  Read more

Uruguayan lawmakers on Wednesday voted to legalise the production, sale, and use of marijuana, becoming the first nation in the world to have a national marijuana market – in the hopes of ending drug cartels.  Read more

Mexican politicians have submitted a draft bill to the Senate that could potentially allow foreign firms to drill for oil in the country for the first time in 75 years, according to AFP on Tuesday.  Read more

Finnish technology giant Nokia could have to pay up to $3.4 billion in back-taxes to the Indian government, reported the Wall Street Journal on Tuesday, for allegedly claiming exemptions on software exports that it shouldn’t have.  Read more

A huge airport in Central Spain, built at the cost of around 1 billion euros ($1.4 billion), has now gone up for auction for just 100 million euros, reported AFP on Monday, after failing to receive a single commercial flight since 2011.  Read more

German ministers are reportedly considering a toll for foreigners to use the country’s extensive highway system, according to Bloomberg, in order to improve transport infrastructure and ensure “that no German will be burdened with more costs.”  Read more

Scotland will have to leave the European Union immediately if it votes for independence from the United Kingdom next year, says Spain’s Prime Minister Mariano Rajoy, in comments directed also to Catalan nationalists in Spain who hope to hold their own vote on secession.  Read more

Chinese authorities have officially banned the consumption of shark fin soup and other luxury dining items at all government events, reported Xinhua on Sunday, in its latest efforts to promote frugality and cut down on excessive spending.  Read more

China’s central bank on Thursday handed down an order banning banks from handling transactions in Bitcoins, adding that it was planning to step up efforts to curb the risk of the virtual currency in laundering money.  Read more

U.S. prosecutors have charged 49 current and former Russian diplomats for lying about their income in order to receive healthcare benefits meant for the poor, reported Reuters on Thursday.  Read more

Argentines will have to pay a 35 percent levy on all purchases made on their credit cards in a foreign currency, reported Bloomberg on Wednesday, in an attempt by the government to stem the slide in the country’s foreign-currency reserves.  Read more

Iran could potentially export as much as 4 million barrels of oil per day once Western powers remove sanctions against the nation, said Oil Minister Bijan Zanganeh on Tuesday, urging fellow OPEC members not to try and limit its return to global markets.  Read more

China’s yuan is now the world’s second-most used currency in global trade finance, according to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) on Tuesday, overtaking the euro for the month of October.  Read more

A luxury hotel in South Africa is rapidly gaining flak online for creating a fake Shanty Town so that tourists can experience slum life, all “within the safe environment of a private game reserve.”  Read more

While much of Africa ranks near the bottom in major economic and quality-of-life categories, there are signs that the continent’s outlook is improving. The continent’s total GDP has increased by over 135 percent in the past decade, while there have been much improvement in educational and energy infrastructure during the same period.  Read more

Online retail giant Amazon Inc. have begun tests using drones as a delivery system for parcels to their customers, revealed CEO Jeff Bezos on Sunday, with the technology expected to be ready by 2015.  Read more

The World Health Organisation (WHO) was forced to issue an apology on Tuesday after one of their reports had claimed that Greeks were deliberately infecting themselves with HIV in order to claim welfare benefits of up to $950 per month.  Read more

In exchange for providing cash loans to the Ecuadorian government, China has secured the rights for up to 90 percent of Ecuador’s oil exports through to 2020, according to a Reuters report on Tuesday.  Read more

The Himalayan kingdom of Bhutan has set an ambitious target to replace all of the nation’s cars with electric vehicles, according to the Financial Times on Thursday, as part of a government effort towards environmental sustainability as well as to reduce the cost of fossil fuel imports.  Read more

Ukraine has dropped plans for a trade agreement with the European Union, a week before its scheduled signing, reported Reuters on Thursday, after opting instead to renew talks with Russia on a customs union with fellow ex-Soviet republics.  Read more

Russia’s central bank has revoked the license of Master Bank, a mid-sized Moscow-based lender, after an investigation uncovered "large-scale dubious operations" related to money laundering and false accounting, reported Reuters on Wednesday.  Read more

Spain’s National Court has issued an international arrest warrant for China’s former president Jiang Zemin, after it ruled that the Chinese leader may have been responsible for “genocide, crimes against humanity, torture and terrorism” against Tibetans during the 1980s and 1990s.  Read more

In a bid to promote a new high-speed train system, Japanese Prime Minister Shinzo Abe has offered to fully pay for the first phase of construction of a possible rail route in the u.S., linking Washington to New York in just one hour.  Read more

Africa will have to spend between $200-350 billion a year in climate adaptation costs by 2070, if the current global temperature rises by more than two degrees Celsius, according to a UN Environment Programme (UNEP) report on Tuesday.  Read more

Publicly listed German companies will soon have to ensure a 30 percent female presence in their supervisory boards, reported AFP, after the nation’s top political parties on Monday agreed on a plan to fix the large gender imbalance in businesses.  Read more

China’s National Bureau of Statistics (NBS) is set to revise the method it uses to calculate the national GDP, in order to bring it in line with global standards, reported Reuters on Monday.  Read more

The governments of Spain and Ireland on Thursday separately announced plans to exit from international banking bailout programmes, while opting too against taking up a precautionary credit line, as market conditions and banks’ stability improve.  Read more

China is set to usurp India as the world’s largest gold consumer this year, according to forecasts from the World Gold Council (WGC) on Thursday, as a slide in the rupee's value and strict import curbs saw India’s gold demand drop by nearly 24 percent.  Read more

China will send nearly 10 million yuan ($1.64 million) worth of aid to the Philippines for the Typhoon Haiyan disaster relief effort, reported the Wall Street Journal on Thursday, after the government changed its mind of pledging just $100,000 initially.  Read more

The European Union’s executive body, the European Commission, has launched an inquiry into Germany’s persistently high current account surplus, in order to determine if Europe’s largest economy was indirectly causing harm to the rest of the region, reported the Financial Times.  Read more

The United States will surpass Saudi Arabia and Russia as the world’s top oil producer by 2015, said the International Energy Agency on Tuesday, however diminishing returns in shale formations could see it lose its top spot in another 15 years.  Read more

China’s Communist Party ended its Third Plenum on Tuesday by promising a “decisive role” for markets in the economy, as they push for reforms to deliver results by 2020.  Read more

Iran’s supreme leader Ayatollah Ali Khamenei is secretly controlling a business empire worth over $95 billion, Reuters reported on Monday, following a six-month long investigation into Khamenei’s financial affairs.  Read more

European Commission President Jose Manuel Barroso has described France's 2014 budget as "satisfactory", but warned that more taxes would hurt further growth and employment, according to an AFP report on Monday.  Read more

Check out this infographic, which explores the most popular ‘goods’ available on the black market and their costs.  Read more

Brazil’s major hotel chains are set to meet with the justice ministry this week, after the government agency demanded an explanation from the group over several complaints regarding room prices during next year’s football World Cup.  Read more

Russia’s economy ministry has slashed its long-term growth forecast through to 2030, warning that falling investments and exports could lead to an era of stagnation behind the rest of the world.  Read more

Iran’s desperation to boost oil revenues amidst international sanctions has seen it offer free delivery of crude to remaining clients such as India, according to a report by Reuters on Monday.  Read more

Russians will get to decide on a new symbol for their currency, reported Reuters on Wednesday, in a move by the government to enhance the international profile of the rouble ahead of plans to establish Moscow as a global financial centre.  Read more

There are 2,170 billionaires in the world today, according to the inaugural Wealth-X and UBS Billionaire Census 2013, with their combined net worth estimated at over $6.5 trillion – a sum greater than the GDP of every country except the U.S. and China.  Read more

The U.S. Consumer Financial Protection Bureau will seek out public opinion before proposing new rules targeting the end of intimidating tactics used by debt collectors, Reuters reported on Wednesday, with about one in 10 Americans going into debt of some sort after the financial crisis.  Read more

Approximately 6.6 billion euros ($8.9 billion) in European Union funds were misallocated or lost to inefficient expenditure schemes last year, according to the bloc’s official auditors on Tuesday, marking a 0.9 percentage point rise from the previous year and the third year in a row that inefficient spending have rose.  Read more

China’s economy must continue growing by at least 7.2 percent per year in order to sustain the unemployment rate from rising, said Premier Li Keqiang in remarks published on Monday.  Read more

The heir to the British throne, Prince Charles, should face a Treasury inquiry into the amount of taxes he pay each year, said an influential committee of U.K. MPs on Monday, arguing that some of the tax exemptions that his estate enjoy had created an “unfair advantage” for several of his businesses.  Read more

Despite a sharp rise in food inflation, U.K. families are spending 8.5 percent less on food today than what they did before the financial crisis; but the savings had been mostly due to a switch in consumption to cheaper, less healthy choices, according to the Institute for Fiscal Studies (IFS) on Monday.  Read more

Swiss banks could be forced to raise their minimum leverage ratios to as much as 10 percent, reported the Wall Street Journal on Sunday, in a move aimed at improving industry stability – yet could see banks have to cut down on their service offerings.  Read more

The U.S. government saw a budget deficit of $680.3 billion for fiscal year 2013, showed Treasury Department data on Wednesday, a 37 percent drop from the fiscal 2012 deficit and marking the first time in five years that the figure has been below $1 trillion.  Read more

Germany’s persistently high trade surplus and export-led growth model is preventing the eurozone from recovering quickly, harming the wider global economy in the process, said a U.S. Treasury report on Wednesday.  Read more

Nearly 40,000 Chinese couples living in Bejing have filed for during the first nine months of this year, according to the China Daily on Tuesday, a year-on-year increase of close to 41 percent – with experts speculating that couples had been deliberately avoiding a property tax imposed earlier this year.  Read more

Japan's financial regulator, the Financial Services Agency (FSA), is set to investigate the nation’s three largest banks for transactions with the Yakuza, according to Reuters on Tuesday.  Read more

Singapore has once again come out top as the world’s best place to run a business, according to the World Bank’s annual competiveness survey, with the Ukraine showing the highest levels of improvement, while Russia made the most progress among the BRICS.  Read more

Brazil’s top biomedical research centre, the government-funded Oswaldo Cruz Foundation, has announced plans to begin producing an affordable measles and rubella vaccine for developing countries, becoming only the second country in the world – behind India – to produce such vaccines at lower costs.  Read more

Fearing arrest by U.S. tax authorities, many Swiss bankers are now refusing to travel out of the country, be it for work or holiday, according to one business leader in an interview published on Sunday.  Read more

Germany is reportedly considering creating its own Internet network service in order to “shield local internet traffic from foreign intelligence services” like the NSA, reported Reuters last week.  Read more

Over 40 major donor organisations, including government and private agencies, received “Poor” or “Very Poor” scores in the latest Aid Transparency Index (ATI), bringing into question how and where foreign aid money is being spent, contrary to prior pledges towards more openness.  Read more

Sub-Saharan Africa has lost $1 billion a week for the past 30 years due to illicit financial flows related to their natural resources, according to international relief and development organization Oxfam America, urging governments and businesses to work together in introducing sweeping measures to improve transparency and governance in the region.  Read more

Facebook founder Mark Zuckerberg was the highest paid CEO in the United States last year, according to an annual poll by corporate governance research group GMI Ratings released this week, raking in nearly $2.28 billion thanks to a combination of salary, bonuses and stock options.  Read more

The Spanish economy grew by 0.1 percent between July and September this year on the back of stronger exports, according to estimates from Spain’s central bank on Wednesday, though unemployment remains stubbornly high at around the 26 percent mark.  Read more

The Iranian government is considering giving crude price discounts to its former customers as long as Western sanctions against it can be eased in the future, said a senior oil official on Tuesday, in the hopes of seeing a return to their old market share, which had been lost to other Middle Eastern nations.  Read more

The Thai government may begin charging foreigners up to 500-baht ($16.13) to enter the country starting from January next year, said authorities this week, in the hopes of attracting a better “quality” of holidaymakers and, at the same time, pay for tourists who seek treatment at local hospitals but can’t afford the bill.  Read more

The world's largest coffee chain, Starbucks Corp, has come under fire from China’s official state broadcaster, China Central Television (CCTV), for charging locals up to 50 percent more for some of its products compared to what it charged in other markets such as the U.S. or India.  Read more

Global sugar prices have risen to a one-year high after a fire broke out at several warehouses in the southern Brazilian port of Santos last Friday, destroying some 180,000 tons of sugar in the process.  Read more

Argentine scientists have found a way to convert gas produced by bovine digestive systems into a fuel source, reported Reuters on Monday, though they do not expect the method to be practical for at least another 30 years.  Read more

U.S. banking giant JP Morgan Chase will reportedly pay $13 billion to end federal and state investigations into mortgage-backed securities it sold before the financial crisis, marking the largest civil penalty ever levied onto a U.S. company and wiping out more than half of the bank’s 2012 profits.  Read more