By KEITH BRADSHER22 June 2012 HONG KONG – As the Chinese economy continues to sputter, prominent corporate executives in China and Western economists say there is evidence that local and provincial officials are falsifying economic statistics to disguise the true depth of the troubles. Record-setting mountains of excess coal have accumulated at the country’s biggest […]
By Tim Mullaney, USA TODAY12 June 2012 The median U.S. household lost nearly 39% of its wealth from 2007 to 2010, the Federal Reserve said Monday, emphasizing anew the impact of the financial crisis and the recession on ordinary Americans. [“Changes in U.S. Family Finances from 2007 to 2010: Evidence from the Survey of Consumer […]
By Tim Reid, Reuters8 June 2012 LOS ANGELES – The smell of rotting food and decay inside 10956 South Wilmington Avenue, Los Angeles, was overwhelming. A burst pipe in the kitchen ceiling leaked water onto a floor littered with half empty cans, razor blades, odd shoes, stained clothing and an upturned, mold-ridden sofa. Windows were […]
By Ralph Atkins21 May 2012 Frankfurt – There has been no official announcement. No terms or conditions have been disclosed. But Greece’s banking system is being propped up by an estimated €100 billion or so of emergency liquidity provided by the country’s central bank — approved secretly by the European Central Bank in Frankfurt. If […]
By Judith Lavoie, Times Colonist 17 May 2012 Tree poachers have stolen one of the largest red cedars in Carmanah Walbran Provincial Park in what is believed to have been a two-part operation over the past year. “If poachers can run around roughshod in the parks, it’s a terrible thing for B.C.,” said Torrance Coste, […]
By Bruce Watson 2 May 2012 Over the past few years, high unemployment, the housing market implosion and falling wages have driven many American families closer together — both financially and literally. Parents are supporting their adult children, children are supporting parents, and generations are helping each other to weather the economic storms. In some […]
By Hiroshi Hiyama9 May 2012 (AFP) – Japan’s government will take a controlling stake in the operator of the Fukushima nuclear plant under a plan ministers approved Wednesday, effectively nationalising one of the world’s largest utilities. Tokyo will inject one trillion yen ($12 billion) as part of a 10-year restructuring aimed at preventing the vast […]
By John Atcheson28 Apr 2012 The first thing to say about The Crash Course is that it is an impressive work of scholarship. It is reminiscent of Guns, Germs and Steel in terms of the scope and breadth of knowledge brought to bear by the author in support of his thesis – which is basically […]
By Barbara Lewis; Editing by John Stonestreet7 May 2012 BRUSSELS (Reuters) – EU nations are dithering over how to fill a multi-billion-euro fund to help tackle climate change, just as the region’s executive body hosts talks with countries likely to bear the brunt of extreme weather. The European Union recommitted to providing 7.2 billion euros […]
By TRACIE CONE, Associated Press 6 May 2012 MERCED, California (AP) – With her anti-poverty budget stretched beyond its limits, Brenda Callahan-Johnson is braced for next Saturday: the day California’s chronically unemployed will be cut off from the nation’s jobless benefits. A drop in the state’s unemployment rate to 11 percent — its lowest mark […]
