The latest numbers from China on its gross domestic product, factory output and electricity usage all show a bubble bursting. Kevin Yao, writing from Beijing for Reuters, expressed surprise when the latest numbers about China’s factory output came in at its lowest level in three years: “China’s factory output growth slowed unexpectedly in July…[due to] stiff global headwinds…”
Plans announced by French President Francois Hollande to "tax the rich" are driving wealthy French citizens out of the country. Vincent Grandil, a partner in the Paris law firm Altexis which caters to rich French citizens, is increasingly being asked by his clients if now would be a good time to flee France for countries with lower tax rates.
In his testimony August 1 before the Senate Environment and Public Works Committee, climate scientist John Christy revealed the results of his latest work showing “clear evidence … that extreme high temperatures are not increasing in frequency, but actually appear to be decreasing.” Christy does his research at the University of Alabama, monitoring global temperature changes through remote satellite sensing which he developed along with a partner, Roy Spencer. For his efforts, Christy has been awarded NASA’s Medal for Exceptional Scientific Achievement and the American Meteorological Society’s “Special Award.”
After reviewing the weak jobs report from the Bureau of Labor Statistics (BLS) that was released last Friday, the president of the Federal Reserve Bank of Boston, Eric Rosengren, decided it was time to call for more money to be added to the economy.
The latest report from the U.S. Energy Information Agency (EIA) not only confirmed the explosive growth in the country’s proven reserves of oil and natural gas, it also shattered popular myths about America’s decline.
Based on a study by the Urban Institute, AP writer Stephen Ohlemacher has announced a surprise for couples who started collecting their Social Security last year: They won’t be getting all their money back. In fact, under the assumptions by the think tank, they won’t even come close.
Kentucky Senator Rand Paul's bill to protect citizens from surveillance by drones needs 48 more cosponsors in order to rein in the Supreme Court's approvals of such surveillance.
Two days after the opening ceremonies of the XXX Olympiad in London, England, Smith College Professor Andrew Zimbalist was asked if he knew of any Olympics that ever justified the enormous expense involved from an economic point of view. His answer: only Barcelona, in 1992.
Mike Huckabee invited his Facebook followers to celebrate "Chick-fil-A Appreciation Day" on Wednesday, August 1st and one million of them said they would "eat mor chikin."
The fines imposed on Barclays Bank by the British Financial Services Authority represent just the beginning of the exposure of the international banking cartel's efforts to keep interest rates low.