U.S. unemployment rates will continue to be high and no new jobs will be available to Americans if the economic recovery fails to quicken its pace soon. This is the sentiment aired by Federal Reserve Chairman Ben S. Bernanke when he spoke with business leaders in Ohio State University on Tuesday. He warned that prolonged […]
American federal employee wages will be frozen if the Obama administration implements a plan to save some funds in order to trim the huge budget deficit. The proposal covers approximately 2 million civilian federal workers excluding military personnel. A panel overseeing the deficit cut wants to freeze wages of federal employees for the next three […]
Jobs hiring may not necessarily follow an increase in productivity and profits in this down economy, recent data suggests. Companies are utilizing ways to maximize existing resources that they have including their workers to eke out a profit and they are not are so keen to expand their business because of the lingering uncertainty. With […]
Foreclosure sales all over the country are set to resume soon as government mortgage firms Fannie Mae and Freddie Mac advised real estate agents to restart their processing as usual. The companies have put a freeze on sales of foreclosed homes because of the foreclosure documents fiasco that erupted two months ago. Freddie Mac sent […]
Mortgage relief companies that charge advance fees to consumers would now be prohibited to do so, in an effort to protect Americans from dubious schemes, the U.S. Federal Trade Commission (FTC) announced today. The FTC now requires a written offer to be accepted by a customer before the lender can charge any fees. “This rule […]
Ireland expectedly sought a huge loan from the International Monetary Fund on Sunday, as the former European economic powerhouse tries to recover from a severe financial crisis, a downward spiral that has plagued its banking system. Similarly, Greece suffered from such a crisis and has since secured a rescue package from the worldwide financial institution. […]
More Japanese troops will be sent to disputed islands Yonaguni, Miyako and Ishigaki, potentially heating up the tense territorial argument between Japan and China, the Japanese daily newspaper Nikkei, which did not specify sources, said today. Roughly 100 members of the Ground Self-Defense Force will be stationed at Yanaguni Island by 2014. Yanaguni and the […]
Members of the North Atlantic Treaty Organization or NATO announced after a meeting in Lisbon that it will be slowly pulling out the majority of its 150,000-strong military force in four years even though the capability of Afghan troops may not be fully ready to secure the country by that time. The departure of NATO […]
Middle-class tax cuts will be tried to be extended by Democrats in Congress through a series of votes. The lawmakers, who met with President Barack Obama on Thursday at the White House, also plans to allow tax cuts for affluent Americans to expire. The move by Obama’s party mates is likely to be curtailed by […]
The foreclosure documents fiasco, which has prompted an ongoing federal investigation, could have grave consequences for banks, lenders and the whole housing market, the Congressional Oversight Panel warned on Tuesday. The panel outlined in its latest report about a host of potential problems that the foreclosure mess can create. It describes a best-case scenario, where […]
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