Archive for the ‘News’ category

Global Stock Markets Dive after Fed’s Negative Assessment
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Global Stock Markets Dive after Fed’s Negative Assessment

Global Stocks tumbled and commodities took a beating as investors reacted to a grim economic outlook from the U.S. Federal Reserve.  The Fed’s statement that the U.S. economy faces “significant downside risks” and worry that the U.S. central bank’s $400 billion program, unveiled on Wednesday, would be insufficient to jump-start growth brought investor fears of [...]

Published by on September 22, 2011 2:06 pm
NASA: Narrows Down UAR Satellite Earth Impact Time
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NASA: Narrows Down UAR Satellite Earth Impact Time

The U.S. Space Agency is reporting  that the 6.5-ton, city-bus sized, Upper Atmosphere Research Satellite, or UARS is expected to plunge into the lower atmosphere, “sometime during the afternoon of Friday, Sept. 23, Eastern Daylight Time”. While most of the spacecraft will be incinerated, NASA anticipates that 26 potentially hazardous parts, weighing a total of [...]

Published by on September 22, 2011 1:59 pm
U.S. Prosecutor Calls Online Poker Site a ‘Global Ponzi Scheme’
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U.S. Prosecutor Calls Online Poker Site a ‘Global Ponzi Scheme’

Poker playing legends, Christopher Ferguson and Howard Lederer have been accused of bilking fellow players out of hundreds of millions (U.S.) through their company Full Tilt Poker, the second largest online poker company in the world Full Tilt paid its board members more than $440 million using funds it had told its online poker players [...]

Published by on September 21, 2011 12:58 pm
IMF warns, Global Economy is entering a ‘new dangerous phase’
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IMF warns, Global Economy is entering a ‘new dangerous phase’

“Global activity has weakened and become more uneven; confidence has fallen sharply recently; and downside risks are growing,” the International Monetary Fund said in its World Economic Outlook, published ahead of this week’s annual meetings in Washington. The IMF has cut its 2011 and 2012 global growth forecast to 4 percent, slashing projections for almost every [...]

Published by on September 20, 2011 11:15 am
Italian Earthquake experts on Trial for Manslaughter
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Italian Earthquake experts on Trial for Manslaughter

Seven scientists and other experts went on trial on manslaughter charges Tuesday in Rome. They are accused of “negligence and imprudence… of having provided an approximate, generic and ineffective assessment of seismic activity risks as well as incomplete, imprecise and contradictory information”. The defendants were members of the Serious Risks Commission, a government panel that [...]

Published by on September 20, 2011 11:09 am
Obama’s Speech, Asks Rich to Pay Their Fair Share
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Obama’s Speech, Asks Rich to Pay Their Fair Share

In the speech in the White House’s Rose Garden, the president set out plans to cut more than $3 trillion from the deficit over the next 10 years. Obama is proposing to set a minimum tax on people making $1m or more in income. They would pay the same overall tax rate as other taxpayers. It [...]

Published by on September 19, 2011 1:44 pm
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