Gulf Coast residents are spending their Labor Day weekend cleaning up the mess left behind by Hurricane Isaac, which pushed north on Friday into the Midwest after leaving entire waterlogged neighborhoods without lights, air conditioning or clean water.
To say that President Barack Obama 's approval rating is not where he wants it to be as September beckons - nor where he thought it would be - would be an understatement. And that's led some political analysts to argue that Obama is looking at a loss in November's presidential election
The man touted to take over the chairmanship at troubled lender Barclays [BAC.L], Michael Rake, has declined the job, according to sources.
As Greek voters prepare to the go to the polls on Sunday and central banks around the world prepare to enter crisis mode if far left-wing candidate Alexis Tsipras wins and reneges on the country's bailout package, thus threatening euro zone solidarity, the Greek economy may slip into something resembling medieval Europe's Dark Ages. In recent days, international companies have been divesting their Greek branches, according to a report by the New York Times .
Lack of infrastructural facilities in India n ports are negatively affecting exports as the ports are struggling to cope with commodity traffic. Ports are unable to handle the container and vessel traffic despite a decline in economy and exports. India has a 6000 km long coast line and 12 major ports and around 175 minor ports, according to the Indian Ports Association, in the 13 states (including the Union Territories)
Debt-riddled Italy is trying to raise €10 billion ($12.6 billion) by selling off state assets. To avoid an international bailout like those needed in Greece, Ireland, Portugal and Spain, Rome put three public companies -- credit agency Sace, industrial holding company Fintecna and the Simest investment company -- on the auction block on Friday and will be sold “within months," according to the Financial Times . Mario Monti's government also agreed on a number of “sustainable growth” measures that include investments in the construction industry, "green" economies and offshore oil and gas development.
In the wake of mounting economic hardship for Britons, Work and Pensions Secretary Iain Duncan Smith urged residents to get jobs and fend for themselves rather than rely on state benefits and handouts. Speaking on Thursday, he said the former Labor government's strategy to funnel more than $150 billion into tax credits and benefit payments between 2004 and 2010, snowballing the welfare bill by 40 percent even in a decade of buoyant growth and employment, hasn't done much to alleviate the incidence of child poverty
The major powers' central banks have prepared measures to head off disaster in the financial markets after Sunday's Greek election by providing liquidity and preventing a credit squeeze, G20 officials told Reuters Thursday. A senior American official cautioned that the Greek election will not provide "the definitive signal on what happens next" in the euro zone debt crisis. But if severe market strains emerge after an unusual confluence of three elections this weekend - there are important votes in Egypt and France as well - central bankers are on standby to ensure enough cash is flowing through the financial system
On her first trip to Europe in more than two decades, Myanmar’s pro-democracy activist Aung San Suu Kyi urged the protection of worker rights and encouraged foreign investment in her country during a speech before the International Labour Organization (ILO) in Geneva.
Japan 's industrial production declined in April from the previous month, according to the revised data released by the Trade Ministry Thursday. The revised data reported that industrial output fell 0.2 percent in April, raising concerns about the country's faltering economic growth momentum. An increase of 0.2 percent growth was reported initially in April.