Worldwide trade will plummet by nearly 10 percent this year, and output will fall by 2.9 percent, the World Bank predicted in a report released Monday.
World Bank: Poor nations hit hard by fall in global trade
Tag Archives: financial
Foreclosure Prevention: New Program Shows Big Jump
The government finally seems to be making progress in its efforts to stem the foreclosure crisis. Housing and Urban Development officials say lenders extended loan-modification offers to 40,000 borrowers who were struggling to pay their mortgage in the second week of June. That is nearly triple the weekly average of about 15,000 workouts that loan servicers had extended in the prior 10 weeks since the government’s latest foreclosure-prevention plan was announced.
Twitter message could be cyber criminal at work
Cyber criminals are setting snares that move at the speed of news.
Starting Health Care Reform in the ER
To get a sense of just how dysfunctional American health care is, members of Congress don’t need to look further than their local emergency department . The overcrowding in EDs is so bad these days that patients who walk in with “immediate” needs, meaning the most severe on a clinical scale, wait an average of 28 minutes to see a doctor, according to a Government Accountability Office report released in May. That’s 27 minutes more than the recommended wait time for such conditions.
Texas billionaire Stanford arrested in U.S.
Texas billionaire Allen Stanford was taken into custody Thursday night on a fraud-related charge in Stafford, Virginia, the FBI said.
New York Home Prices Forecast to Drop 40%
What’s it feel like to survive one hurricane only to be told that another is on the way? New York City–area homeowners are in just that spot. After the region suffered the brunt of financial-industry cutbacks, the next big wave of woe could be a nor’easter of collapsing home prices.
Businesses find it pays to consult students
With top consultancy firms charging thousands of dollars for a day’s work, employing their services is a luxury most companies simply can’t afford. But some business schools offer student consultancies for a fraction of the price, making their expertise available to a whole range of organizations. Student consultancy groups are a feature of many MBA programs, letting companies hire teams of MBA students to solve their business problems and giving the students a chance to put their education into practice.
Paris air show takes flight amid grim economic skies
Tail-diving passenger numbers, the long-delayed debut of a new jet and the ghost of Air France flight 447 haunts this week’s Paris Air Show. One of the commercial aerospace industry’s most prestigious events, the biennial show is celebrating its 100th anniversary with the industry facing grim economic numbers and the aftermath of the transatlantic crash of a Paris-bound Airbus A330 that killed 228 passengers and crew on May 31. The air show comes at a time when the commercial airline industry is facing its worst crisis in years.
Would an Iran with Moussavi at the helm look different?
He’s been labeled by many as the "reformist," a man who can take Iran beyond the truculent anti-Western rhetoric of President Mahmoud Ahmadinejad. So, when Iran’s government announced over the weekend that Mir Hossein Moussavi had lost in his bid to become the country’s next president, young Iranians took to the streets by the thousands alleging ballot fraud
Is Your Credit Too Good?
If you pay your credit-card bills in full each month, you probably didn’t take much notice when President Barack Obama signed legislation in late May aimed at keeping banks from doing such things as hiking interest rates with little or no notice and engaging in other consumer-unfriendly practices. But don’t assume that just because you rarely carry a balance, you are immune from poor treatment at the hands of credit-card issuers.