415 billionaires is what the US has. This is by the last count of Forbes magazine. Who’s No. 2 you may ask? China. A year ago, there were 15 billionaires in China. Now, there are more than 100, according to the widely watched Hurun Report. Forbes has documented the number of Chinese billionair[...]
January 25th, 2012 - 6:36 am § in News Of Economy
US – Huge job loses put recession in focus
This is certainly a bad news for the whole world as employers in the U.S cut the most workers in five years last months. According to the Labor department in U.S, employment fell by 80,000 jobs in March 2008. So it is the lay offs in five years. Some economists have now convinced that the [...][...]
January 24th, 2012 - 6:35 am § in News Of Economy
US – Who will ultimately bear the cost of recession?
After the US financial institutions created a sub-prime lending mess by giving easy loans to unscrupulous borrowers that resulted in a credit crunch sliding the economy into recession, discussions are now underway on how to stem the current crisis. The free-market capitalist US economy is now depend[...]
January 23rd, 2012 - 1:26 pm § in News Of Economy
Bank of Japan holds interest rate
The Bank of Japan kept interest rates on hold in the face of market turmoil that has sent both stocks and the dollar sliding. Being a central bank BOJ, is an entity responsible for the monetary policy of Japan. Its primary responsibility is to maintain the stability of the national currency and [...]
January 23rd, 2012 - 6:35 am § in News Of Economy
China’s trade surplus declining after record growth last year
US economic slowdown seems to have finally hit China. China’s trade surplus unexpectedly experienced a sharp fall in February. This sudden fall was not expected given the 48% record growth in the country’s trade surplus in 2007. The gap between China’s exports and imports had expanded to $262.[...]