Economy

Putin’s L.America ‘big tour’, deals done
A six-day tour by Russian President Vladimir Putin to Latin America ended with a long anticipated creation of the BRICS bank and the signing of energy agreements, as Russia looks to build alliances to counter Western influence. The Latin America tour started with the visit to Cuba, where Putin signed a new agreement on oil exploration in Caribbean waters which contain most of the estimated 124 mil [...]
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Microsoft announces biggest layoff in history, cutting 18,000 jobs
Microsoft will cut a record 18,000 jobs next year, as the company's new CEO Satya Nadella seeks to boost efficiency, according to a company memo on Thursday. “The first step to building the right organization for our ambitions is to realign our workforce. [...]
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UK property bubble may jeopardize Britain’s economic recovery
Soaring house prices and persistently high levels of household debt could drive Britain's economy back into recession, the Bank of England's governor has warned. Challenged by Treasury select committee MPs on the subject of Britain’s financial stability, Mark Carney admitted the threat of a UK property bubble posed the most substantial risk to the state’s economic recovery. [...]
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US Federal Debt to reach 106% of GDP by 2039
America’s public debt will rise to 106 percent of GDP in the next 25 years, a level seen just once in US history - just after World War II, the US Congressional Budget Office (CBO) warned. US debt has skyrocketed to over $17 trillion, and is now about 74 percent of total gross domestic product, the CBO said on Tuesday. [...]
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“No to TAFTA” France celebs campaign against EU-US trade deal, sign petition
One hundred French celebrities have launched a campaign against the upcoming TAFTA deal between the US and Europe. The protesters say the new treaty will lower economic standards and bring a large influx of GMO products from the US. The petition dubbed: “Everyone against TAFTA” started on June 10 and has gathered over 5,500 signatures so far. [...]
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IMF pushes Ukraine to “voluntarily committing suicide”
Western support will allow more IMF and European lending to prop the Ukrainian currency so the Ukrainian oligarchs can move their money safely to British and US banks, economist and author Michael Hudson told RT's Truthseeker. The basic principle to bear in mind is that finance today is war by non-military means. [...]
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More Money Please: A New Plan to Boost Europe’s Straggling Investments
The euro crisis may have eased recently, but companies and countries in the common currency zone still aren't investing enough to fuel growth. The best solution, a Berlin economics institute argues, is to establish an EU-wide investment fund. Among economists, Marcel Fratzscher is considered to be particularly creative. [...]
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Shanghai favourite to become BRICS bank HQ
Shanghai is considered to be the frontrunner between Russia, China, India and South Africa to become home to the new BRICS bank, media reports. The bank is an attempt by emerging economies to challenge the US-based global lending institutions. Four of the BRICS countries – China, Russia, India and South Africa [...]
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Ukraine, the country no one cared about
Ukraine is the land where time has stood still and the consequences of what has been sown are now being reaped as anarchy is unleashed upon its rotting corpse. Just over a year ago, in rather more peaceful times, I was on a train from Kharkov to Simferopol, sharing a cabin with two Russian gents from the Far Eastern outpost of Nakhodka and, breaking the monotony of long distance rail commutation, [...]
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The new American tax dictate FATCA comes into force
Americans avoiding US taxes and stashing cash abroad are in trouble from July 1, when a new law forces institutions hiding money to report on their clients. The law will make business with Americans harder, but the US hopes it will raise billions. The US Foreign Account Tax Compliance Act, or FATCA, comes into force on July 1 and requires foreign banks to hand over data on clients to the US Intern [...]
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Russian companies “de-dollarize” and switch to yuan, other Asian currencies
Russia will start settling more contracts in Asian currencies, especially the yuan, in order to lessen its dependence on the dollar market, and because of Western-led sanctions that could freeze funds at any moment. [...]
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‘Make us poor, then shoot us’: Russell Brand talks austerity & revolution with Max Keiser
In this episode of the Keiser Report, Max Keiser and Stacy Herbert are joined in the first half by Russell Brand to talk about the austerity headlines. They chat about the UK government’s expanding debt and growing deficit, despite the alleged austerity and GDP expanding thanks to heroin addiction and prostitution. [...]
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US wants to oust Maliki, while he refuses to resign in exchange for airstrikes
As the United States mulls whether or not to provide military support to Iraq in its battle against Sunni insurgents, recent reports indicate the White House wants Iraqi Prime Minister Nuri al-Maliki out of power. [...]
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What The Total U.S. Debt Really Looks Like and What It All Means
Total US debt soars to nearly $60 trn, foreshadows new recession! The Federal Reserve Bank of St. Louis released the current data for the total debt in the United States Economy on June 5, 2014 — All Sectors; Credit Market Instruments; Liability, Level (TCMDO). While people, companies, and governments blamed bad weather for a dismal showing in economic activity, it appears they had little troubl [...]
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10 Reasons You Should Not Move to Florida—From Floridians Who Know!
Florida is sinking and it’s not because of climate change. A new report, Florida – A State of Embarassment, by the Florida Alliance for Retired Americans (FLARA), categorizes the reasons why seniors and young families should not move there. [...]
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ECB cuts deposit rate below zero in historic move
The European Central Bank lowered its deposit rate to -0.10% as the continent battles deflation after many failed monetary policy attempts. The European Central Bank cut its main refinancing rate to 0.15 percent from 0.25 percent, and the deposit rate from zero to -.10 percent, the first time the ECB has seen a negative rate and the first time a major central bank has crossed the zero threshold. [...]
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“€‹Bilderberg actually talks nukes, euro nationalism and” Barack Obama -€“ leak
The officially released agenda of the prestigious Bilderberg club meeting is not true, claims RT show host Daniel Estulin, a longtime watcher of the "secret world govt"€™ group. He says he obtained the real agenda for this year'€™s gathering in Copenhagen. [...]
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Eastern energy pivot threatens the US dollar
The "€œPower of Siberia"€ is much more than a 30 year Sino-Russian gas/pipeline deal. Paying for the process accelerates the vogue to reduce dollar pricing. That, not the energy supply, will become the most acute threat to US economic hegemony. [...]
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Russia, Belarus, Kazakhstan sign ‘€˜epoch’ Eurasian Economic Union
Russia, Belarus, and Kazakhstan signed the historic Eurasian Economic Union which will come into effect in January 2015. Cutting down trade barriers and comprising over 170 million people it will be the largest common market in the ex-Soviet sphere. [...]
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