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Latest news about the state of the world economy.
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Chronically Unemployed To Do Community Work, Or Lose Benefits
Those who have been unemployed for more than two years will soon be required to do community work in order to maintain eligibility for state unemployment benefits, the British...
Wall Street Bonuses To Fall By 20-30%
The average Wall Street worker will see his bonus fall by 20-30 percent this year as compared to 2010, said compensation consulting firm Johnson Associates in its annual compensation...
Fannie Mae Asks For $7.8 Billion More In Federal Aid
The Federal National Mortgage Association, more commonly known as Fannie Mae, announced on Tuesday that it would require a further $7.8 billion in federal aid from the US Treasury...
Australia Green Lights Pay-to-Pollute Tax
In a move aimed at lowering carbon emissions, Australia sent a strong message Tuesday that there is a hefty price to pay for pollution and climate change. After many...
Occupy Movement Inspires Grassroots Bank Transfer Day
Last Saturday, community banks and credit unions in the United States saw a record amount in daily incoming transfers, as customers moved funds out of big financial institutions. The...
Even Santa Is Finding It Tough To Keep His Job In Today’s Economy
Government officials in New York’s Suffolk County sacked its long-running Santa Claus Christmas performer last Friday, claiming that it was a necessary step to trim the county’s budget of...
Chinese Solar Company Drops $500 Million US-Based Project Over Trade Row
China's largest solar power plant developer CECEP Solar Energy Technology Co Ltd has placed its US$500 million US-based development project on hold, following an anti-dumping complaint made against Chinese...
United Airlines To Fly First Ever US Commercial Flight On Biofuels
United Airlines Flight 1403 from Houston’s Bush Intercontinental Airport to Chicago’s O’Hare International Airport will become the first US commercial flight to be powered by an “advanced biofuel” when...
Local Chinese Brewers Make Push For Premium Beer Market
Local Chinese brewers, such as Tsingtao, Yanjing and Zhujiang Beer, are increasingly looking towards the premium beer market as a potential source of revenue as they try to break...
“BP’s Behaviour” Leads To Collapse Of US$7 Billion Deal
Argentinean energy company Bridas Energy Holdings Ltd. has pulled the plug on a US$7.06 billion buyout of BP’s 60 percent stake in Pan American Energy LLC, citing “legal reasons”...


