Posted: December 28th, 2012 | Author: Michael Courtenay | Filed under: Bailout, Business News, News | Tags: Budget, Business News, Economy, Fiscal Cliff, John Boehner, Mitch McConnell, US Politics, US President Barack Obama, Washington | Comments Off
US president Barack Obama will return to Washington – from vacation in his home state of Hawaii – to host congressional leaders, including his bitter Republican rivals, in a last-ditch attempt to halt America’s slide over the fiscal cliff.
A White House spokesman said the president would meet House speaker John Boehner and Senate minority leader Mitch McConnell, and Democratic allies Senate majority leader Harry Reid and House minority leader Nancy Pelosi.
The meeting – scheduled for Friday afternoon local time – comes amid bitter partisan exchanges and mounting pessimism over whether a budget deal can be struck.
Before leaving his Hawaiian Christmas vacation, President Obama telephoned congressional leaders to discuss the situation, which could push the US back into recession.
He returned to Washington overnight, but Senator Reid said a deal to avert the $US600 billion package of higher taxes and spending cuts, due to kick in with the New Year, looked unlikely.
With the deadline to solve the latest potential economic crisis in the US rapidly approaching, you have probably heard of the fiscal cliff – but what is it? :: Read the full article »»»»
Posted: May 20th, 2012 | Author: Diana Detaux | Filed under: Business News, Celebrity News | Tags: facebook, Mark Zuckerberg Wedding, Marriage, Priscilla Chan | Comments Off
Just a day after we posted, Ready, Steady and Go! the Facebook IPO lift-off, we’re stunned to hear Mr Zuckerberg has taken a second HUGE plunge
Facebook co-founder and CEO Mark Zuckerberg has wed long-time girlfriend Priscilla Chan, announcing the nuptials through a status update on the social networking site. The 28-year-old billionaire’s wedding took place a day after Facebook’s initial public offering on the Nasdaq stock exchange on Friday.
In the photo – above – the famously casual billionaire is wearing a dark blue suit and tie, a departure from his trademark ‘hoodie’, while Ms Chan has on a sleeveless white dress with lace overlay :: Read the full article »»»»
Posted: May 4th, 2012 | Author: The Socialist | Filed under: Business News | Tags: facebook | Comments Off
Facebook plans to raise as much as $12 billion from its initial public share offering, dwarfing the coming-out parties of tech companies like Google.
The eight-year-old social network that began as Mark Zuckerberg’s college dorm room project has priced its initial public offering at between $28 and $35 a share.
This will see Facebook attain a valuation of as much as $95.9 billion at the high end and grant the world’s largest social network a market value close to Amazon.
If an over-allotment or “greenshoe” option is triggered, Facebook could end up raising close to $13.6 billion, according to a prospectus. Investors are expected to flock to the highly anticipated IPO, though some have voiced concerns about Facebook’s longer-term growth :: Read the full article »»»»
Posted: April 28th, 2012 | Author: The Socialist | Filed under: Business News | Tags: Economy, Eurozone, Recession, Spain, Unemployment | Comments Off
Spain’s unemployment rate has hit a 20-year high, with more than 5.6 million people out of work. In the first three months of this year close to 370,000 people lost their jobs and Spain’s jobless rate is now at 24.4 per cent. Unemployment is highest among the youth population, at 50 per cent :: Read the full article »»»»
Posted: April 25th, 2012 | Author: M.Aaron Silverman | Filed under: Business News, No Sh_t Sherlock . . . | Tags: CCPCJ, Commission on Crime Prevention and Criminal Justcice, Crime, Office on Drugs and Crime, United Nations, UNODC | Comments Off
The United Nations says crime generates an estimated $US2.1 trillion in global proceeds each year – 3.6 per cent of the world’s gross domestic product.
In what are the first UN figures for global crime profits, the UN Office on Drugs and Crime – UNODC – via it’s Commission on Crime Prevention and Criminal Justcice - CCPCJ - has announced criminal business is one of the world’s top 20 economies. Transnational organized crime manifests in many forms, including as trafficking in drugs, firearms and even persons.
According to the UN, organized crime groups exploit human mobility to smuggle migrants and undermine financial systems through money laundering. The vast sums of money involved can compromise legitimate economies and directly impact public processes by ‘buying’ elections through corruption, the UN says :: Read the full article »»»»
Posted: March 25th, 2012 | Author: Diana Detaux | Filed under: Business News, Socially Engineered, They Said What | Tags: Australian Mining Magnate, Business News, Central Intelligence Agency, CIA, Clive Palmer, Greenpeace, Liberal Party, Queensland Coal Miner | Comments Off
Australian mining magnate Clive Palmer has outlandishly accused the United States Government of funding environmental group Greenpeace via the CIA to undermine Australia’s coal mining sector. Palmer made the extraordinary claim over Greenpeace’s plan to use the court system to tie up coal mining applications.
Palmer is apparently angry at Greenpeace’s plan to use lawyers to thwart future coal mining projects and claims funding is coming from US environmental charity the Rockefeller Foundation. He alleges it is funded by the CIA and says it is trying to harm Australia’s industry and help American interests.
Palmer referred to a paper produced by environmental group Greenpeace which calls for action to stop the expansion of the Queensland coal industry. Greenpeace’s plans were leaked to the media earlier this month as it organises a campaign to raise $6 million to fund legal battles against controversial coal mining projects across Australia. Read the full article »»»»