As Europe confronts another act in its Greek drama, many are watching and wondering, Is the U.S.
All over the U.S. last week, the prices of meat and many other products rose with a rush that was painfully like the burst of inflation in 1948
With banks reluctant to loosen purse strings and credit-card companies aggressively slashing credit lines, a growing number of consumers are turning to the once murky world of pawnshops for quick cash. “Loans are up 20% to 25%,” estimates David Crume, president of the National Pawnbrokers Association
After a 15-year economic eclipse, a stream of good news is finally brightening the outlook for Japan. Banks have started to lend again, companies to hire and invest, and consumers to spend.
The largest government bailout in U.S. history was born before dawn on Sept
The great recession hasn’t been great for free trade. As unemployment has risen throughout the world, governments have become more focused on protecting their own industries than on promoting international commerce
Konstantinos Sourmelis, a 56-year-old technician for OSE, Greece’s state-owned railway, marched to central Athens on Wednesday to send parliament a simple message: Stop selling out the country. Like the thousands of other demonstrators who protested in the country’s latest general strike, Sourmelis accuses the government of scapegoating OSE and public utilities as part of its proposed privatization plan, the next in a string of attempts to raise the billions that Greece owes foreign creditors
Even before its outcome is known, Libya’s uprising could leave an indelible mark on the world economy: oil prices have rocketed since Tuesday and could rise even further amid the continuing turmoil that has prompted thousands of foreign oil workers to flee. Libya’s oil output, typically 1.7 million barrels a day, has fallen by more than half since Tuesday, and its energy exports have ground to a complete halt
Chung Mong Koo, Chairman of South Korea’s Hyundai Motor, carefully scrutinizes a newly designed gearshift lever for the automaker’s Sonata sedan while his entire senior-management team hovers around, anxiously awaiting his approval. The execs are justifiably edgy