Tag: economy
VIDEO: Spanish coal miners strike, galvanize public support
Spain's coal miners fear that government budget cuts will eliminate the subsidies that have kept their mines open. They're taking to the streets and demanding the subsidies be restored....
Americans' trust in banks hit record low as financial scandals continue
In 2007, two in five Americans said they trusted banks. Now, just five years later, that number has dipped to one in five. New York Times columnist Eduardo Porter asks what changed. Do we care about bad behavior in corporate America?...
Libor manipulation scandal may have cost cities and states millions in losses
Government investigators are zeroing in on a once-little known financial index known as the London Interbank Offered Rate, or Libor. Allegations have been made that banks manipulated the rate and may have cheated governments, investors and even small businesses out of money....
As machines replace workers, middle class struggles to keep up
Technology has long been a driver of economic growth. But it often comes at a cost. As new innovations allow companies to replace more skilled workers with automated machines, many of those workers are left with nowhere to go. ...
Obama pushes to extend some Bush-era tax cuts
President Obama is pushing for a one-year extension of Bush-era tax cuts for middle class families. But by drawing the line at households that make more than $250,000 a year, he set the stage for another clash with Republicans who favor an extension of tax cuts for wealthier Americans. ...
Signs of resilience sprout from Haiti's rubble, two years after earthquake
Haiti was ravaged by an earthquake two years ago. In that time, much hasn't been done. Much destruction still remains. But, in some places, hope springs eternal. And on one soccer pitch, it's actually taken root....
Spanish hotel, built in national park, symbol to many of what's wrong with the country
To environmentalists, the Hotel Algarrobico represents the worst example of Spain's failures to enforce its environmental laws: built right along the coast and in a national park. But to local residents, it's more economic opportunity lost. It could provide hundreds of jobs, but right now it's sitting empty....
Libya's crackdown on illegal immigrants poses problems for that country's economic recovery
Libya's population was once one-fourth immigrants, most of them illegal. In the wake of its revolution last year, most of them left. And while some are returning, helping to fill important jobs that have gone unfilled, the nation is also cracking down, hard, on illegal immigrants....
China finding new uses for old bomb shelters under its cities
Chinese law requires most of its buildings to come complete with bomb shelters. Now, as the threat of war has subsided and China's prosperity has skyrocketed, many of those bomb shelters, old and new, are being turned to more peaceful, and profitable, endeavors....
Stockton, Cal., to become the largest city to file for bankruptcy in America
The city of Stockton, Cal., is facing a $26 million budget deficit amid rising crime and foreclosure rates. Unable to reach an agreement with its creditors, the city has voted to file for bankruptcy, in what will be the largest city bankruptcy filing in U.S. history. ...
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