Oil drilling by petroleum giant BP in the Gulf of Mexico may resume soon if a request is granted by U.S. authorities. The plan comes barely one year after an oil rig operated by BP exploded and caused a massive oil spill. The incident damaged the safety record of BP which is facing a multitude […]
Renewable energy is one of the key factors that could bring down rising gas prices and create more jobs for Americans, President Barack Obama said in his weekly Internet and radio address. Too much dependence on oil has left the U.S. more vulnerable to oil price fluctuations brought about by outside influences like conflicts in […]
Chapter 11 bankruptcy protection is becoming a real option for clothing retail company American Apparel Inc., the company said today. American Apparel has been losing revenue and had to lay-off workers because of weak demand of clothing as the U.S. economy dipped. It informed the Securities and Exchange Commission through a filing on Thursday that […]
Unemployment benefit claims declined for the second time in three weeks, dropping by 6,000 to 388,000 last week according to the latest Labor Department report. That may signal that U.S. businesses are retaining more workers and looking to hire additional ones as the economy recovers. The current number of applications for unemployment benefits is near […]
The G-20 meeting of finance chiefs in Nanjing, China today will likely focus less on U.S. monetary policy and more on multiple disasters in Japan and the debt situation in European countries. U.S. fiscal policy, specifically its alleged push of the dollar in the market, has been criticized heavily by Chinese authorities, with one Chinese […]
The foreclosure assistance program with a $1 billion budget launched last year by the Obama administration was supposed to help unemployed Americans stay afloat while finding new jobs. “It will give millions of families resigned to financial ruin a chance to rebuild,” Obama said at the time of the program’s launch. “By bringing down the […]
Wells Fargo responded to new restrictions set by the Federal Reserve by scrapping a debit card rewards program for bank customers. The ruling by the U.S. central bank is based on the Dodd-Frank Act signed into law by President Barack Obama last year. That piece of legislation installed a ceiling of 12 cents per transaction […]
Nuclear energy has been a favorite among developed nations in providing power to sustain economic growth. But Germany has for many years planned a steady transition to get rid of their nuclear energy program within 25 years. The Fukushima nuclear power plant disaster in Japan has hastened the European country’s decision to look for other sources of power. The German […]
Heat waves will be “more frequent, persistent and intense” in European countries over the next few decades as greenhouse gases proliferate and raise temperature levels, a new study says. A major heat wave swept through Russia in 2010 and killed thousands of people and damaged cropland, and researchers say it is now five to ten […]
The housing market will unlikely recover until many years from now according to analysts, and the latest data supports the bleak outlook. A report from the Department of Commerce on Wednesday showed that building permits plunged 8.1 percent in February to its lowest mark since 1960. Meanwhile, home construction dropped 22.5 percent to 479,000 homes […]
PayPal Withdrawing Support For Kindle Fire, BlackBerry And Windows Phone
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Halle Berry Enters The Social Media World
