Radiation levels in Japan have been unstable and have hit levels dangerous to human health several times as nuclear power plant technicians scramble to prevent a meltdown of the Fukushima Da-Ichi plant. Authorities have dispatched additional workers to help the 50 technicians cool down the exposed fuel rods. They are attempting to restart the failed […]
The possible nuclear meltdown of multiple reactors in Japan following a powerful quake and tsunami may affect the prospects of a nuclear energy revival in the United States. President Barack Obama has espoused clean energy as one of his administration’s major programs. He had asked for $54 billion from Congress for nuclear energy projects in […]
Oil prices have risen 22 percent in the past year and the ongoing tension in the Middle East is likely to make matters worse. The per gallon price of regular gasoline has hit $3.54 yesterday compared to just $2.77 one year earlier, figures from AAA showed. In light of looming oil supply disruptions, some are […]
The foreclosure mess investigation came one step closer to its conclusion as attorneys general of all 50 states presented terms of a settlement to banks and lenders. Federal agencies including the Federal Trade Commission, the Department of Justice and the Department of Housing and Urban Development are also involved in the probe of the foreclosure […]
State budget deficits will persist and will not be resolved even as the U.S. economic recovery gains momentum. Federal Reserve chairman Ben S. Bernanke said in speech in New York that it will “take some time” for many state and local governments to get their finances in order. “Governors, mayors and legislators will confront more […]
Tax cuts that were supposed to encourage consumer spending had a weak impact in January, as Americans preferred to keep the extra money for now. The growth in spending was the slowest since June last year, rising just 0.2 percent in January, according to a report from the Department of Commerce released on Monday. Analysts […]
Saudi Arabia is slowly feeling the tension in the Middle East intensify even as it tries to shield itself from the upheavals that have swept the region. A statement by academics, businessmen and activists was posted in multiple Saudi Arabia web sites yesterday calling for reforms in the oil-rich kingdom. They pressed the government led […]
The foreclosure process mishandled by big mortgage companies Wells Fargo and Bank of America under investigation may result to hefty fines. State attorneys general of all 50 states are conducting a probe amid allegations that the banks kicked people out of their homes based on shoddy paperwork. Bank of America, based in Charlotte, North Carolina, […]
Spending cuts as deep as proposed by the Republicans will take away the early momentum of recovery, bank and investment firm Goldman Sachs warned today. House Republicans have pushed a bill that would slash $61 billion in federal spending from March to September this year. The measure will shave off 1.5 percent from U.S. economic […]
A trade deficit this month was the first in 22 months for Japan due to factors like weak exports to China and higher import costs. Instead of registering a surplus worth 49.6 billion yen in line with expectations, Japan posted a deficit of $471.4 billion yen or $5.7 billion in January. Just a month earlier, […]
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