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Buffett Says Muni Bankruptcies Set to Climb as Stigma Lifts

Buffett Says Muni Bankruptcies Set to Climb as Stigma Lifts | EconMatters | Scoop.it
Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said municipal bankruptcies are set to rise as there’s less stigma attached after three California cities opted to seek protection just weeks apart.
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Oil Falls on Euro Drop to Two-Year Low, Signs of Slowing

Oil Falls on Euro Drop to Two-Year Low, Signs of Slowing | EconMatters | Scoop.it
Oil declined after the euro slumped to a two-year low against the dollar, reducing investor appetite for raw materials, and on signals that the global economic recovery is faltering.
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Spain Deepens Austerity Under European Pressure

Spain Deepens Austerity Under European Pressure | EconMatters | Scoop.it
Prime Minister Mariano Rajoy announced a swathe of new taxes and spending cuts on Wednesday designed to slash 65 billion euros from the budget deficit by 2014 as recession-plagued Spain struggles to meet tough targets agreed with Europe.
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OECD sees no end to jobs crisis as economy struggles

OECD sees no end to jobs crisis as economy struggles | EconMatters | Scoop.it
LONDON (Reuters)- Unemployment in advanced economies will remain high until at least the end of 2013, with young people and the low-skilled bearing the brunt of what is by far the weakest economic recovery...
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Egan-Jones Downgrades Netherlands And Austria To A, Negative Watch | ZeroHedge

Netherlands, that one of four remaining AAA-rated Eurozone countries (by the big 3 rating agencies at least), was just downgraded by Egan Jones.
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Manufacturers blame unemployment woes on uncertainty over ‘fiscal cliff’ - The Hill's On The Money

Manufacturers blame unemployment woes on uncertainty over ‘fiscal cliff’ - The Hill's On The Money | EconMatters | Scoop.it
Manufacturers say uncertainty over impending tax increases and spending cuts is standing in the way of robust job growth. U.
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Libor scandal: Barclays prepares for showdown with Bob Diamond over £25m pay-off - Telegraph

Libor scandal: Barclays prepares for showdown with Bob Diamond over £25m pay-off - Telegraph | EconMatters | Scoop.it
Barclays was last night preparing for a showdown with former chief executive Bob Diamond over his potential £25m pay-off.
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China Moves to Take Control of South China Sea - China Digital Times (CDT)

China Moves to Take Control of South China Sea - China Digital Times (CDT) | EconMatters | Scoop.it

Tensions seemed to have eased between Beijing and Manila, but CDT previously reported that China had vowed to oppose military aggression in the South China Sea. While the announcement seemed to be directed towards the recent tensions between China and Vietnam, there are now reports of Beijing sending warnings to both countries. 

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Job insecurity in America: a terrified nation of disposable workers

Job insecurity in America: a terrified nation of disposable workers | EconMatters | Scoop.it
Alternet's new series on "job insecurity" opens with a frightening and infuriating piece from Lynn Parramore, who paints a picture of a nation where the new normal is to be marginally employed, in terror of a coming layoff, haunted by unshakable student...
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US Needs to Deal With 'Fiscal Cliff' Soon: IMF's Lagarde

US Needs to Deal With 'Fiscal Cliff' Soon: IMF's Lagarde | EconMatters | Scoop.it
The "fiscal cliff" is only one of the major risks for the tepid US recovery and should be dealt with sooner rather than later, IMF Director Christine Lagarde said.
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France Faces Major Test as It Enters 'Danger Zone'

France Faces Major Test as It Enters 'Danger Zone' | EconMatters | Scoop.it
Having been in power for less than two months Francois Hollande is facing the first major test of his pro-growth election commitments after a warning from the national audit office that France’s economy is in the “danger zone” and risks falling into...
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U.S. probes Chesapeake, rival over possible collusion

U.S. probes Chesapeake, rival over possible collusion | EconMatters | Scoop.it
WASHINGTON (Reuters) - The U.S.Justice Department is probing Chesapeake Energy Corp and Encana Corp for possible collusion after a Reuters report showed that top executives of the two rivals plotted in...
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Yahoo Says It’s Investigating Security Breach

Yahoo! Inc. said today that a security breach on its site exposed 450,000 user names and passwords for accounts at Yahoo and other Internet services such as Microsoft Corp.’s Hotmail and AOL Inc.
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Fed Officials Weigh More Stimulus

Fed Officials Weigh More Stimulus | EconMatters | Scoop.it
Fed officials are seriously considering a new round of economic stimulus, but remain split over whether and when the central bank should launch further action.
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China Cuts Fuel Prices to Lowest Since 2010 as Crude Costs Slide

China Cuts Fuel Prices to Lowest Since 2010 as Crude Costs Slide | EconMatters | Scoop.it
China, the world’s second-biggest oil consumer, reduced fuel prices for the third time since May after crude tumbled, easing costs for factories and motorists while threatening profit margins at refiners.
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New York Fed Says It Knew of Barclays Libor ‘Problems’

New York Fed Says It Knew of Barclays Libor ‘Problems’ | EconMatters | Scoop.it
The Federal Reserve Bank of New York was aware of potential issues involving Barclays Plc and the London interbank offered rate after the financial crisis began in 2007, according to a statement from the district bank.
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Consumer Credit in U.S. Rises by $17.1 Billion, Fed Says

Consumer Credit in U.S. Rises by $17.1 Billion, Fed Says | EconMatters | Scoop.it
Consumer credit climbed more than forecast in May, led by the biggest jump in credit-card debt in almost five years that may signal Americans are struggling to make ends meet.
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Debt crisis: Finland warns of euro exit rather than pay debts of others

Debt crisis: Finland warns of euro exit rather than pay debts of others | EconMatters | Scoop.it
FINLAND would consider leaving the eurozone rather than paying the debts of other countries in the currency bloc, Finnish Finance Minister Jutta Urpilainen has said.
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Worker Shortage? Teach Teens Manufacturing Skills

Worker Shortage? Teach Teens Manufacturing Skills | EconMatters | Scoop.it
Small manufacturers are partnering with high schools to train future employees...
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Libor rigging scandal: lenders face £4bn damages payout - Telegraph

Libor rigging scandal: lenders face £4bn damages payout - Telegraph | EconMatters | Scoop.it
Banks implicated in the rigging of Libor face payouts of more than £4bn just to settle damages claims from customers sold interest rate swaps, according to an analysis of potential litigations.
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Brazil Lending Growth Raises Stakes On Possible Credit Crunch

Brazil Lending Growth Raises Stakes On Possible Credit Crunch | EconMatters | Scoop.it
NASDAQ News: Brazil Lending Growth Raises Stakes On Possible Credit Crunch...
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JPMorgan Potentially Manipulating Energy Markets Using Abusive Bidding Strategies - Forbes

JPMorgan Potentially Manipulating Energy Markets Using Abusive Bidding Strategies - Forbes | EconMatters | Scoop.it
JPMorgan allegedly has been involved in energy market manipulation, using...
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BRICs Priced for Economic Meltdown

BRICs Priced for Economic Meltdown | EconMatters | Scoop.it
The biggest emerging markets are contributing more than ever to the global economy as their proportion of the world stock market shrinks, leaving investors with the widest valuation gap in seven years.
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Einhorn Stakes $1 Million on a Poker Game for Charity

Einhorn Stakes $1 Million on a Poker Game for Charity | EconMatters | Scoop.it
The no-limit Texas hold' em tournament, which began on Sunday in Las Vegas and lasts through Tuesday, signals a return to the felt tables for hedge fund manager David Einhorn.
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