One in 10 prime working age Americans are finding that by the time they get their paychecks, credit and loan businesses have been there first. The striking figure emerged after millions of payrolls were checked as part of a study by NPR and ProPublica.
The major global economies are losing steam, and are expected to forfeit some 2014 growth, the OECD said Monday. They are weighed down by a sluggish eurozone economy, growing Middle East tension, the Ukraine crisis, and the Scot’s independence referendum.
The Spanish government intends to spend about 1 million euro on police riot gear, despite the country’s debt rising by 58 billion euro over the last year. Authorities worry about widespread protests they believe will grip the nation in the autumn.
Christine Lagarde, head of the International Monetary Fund (IMF) has urged Germany to increase spending to spur the eurozone's flagging economic recovery, and said that a number of structural reforms are needed to revive the bloc’s growth.
Anyone doubting the scale of Detroit's bankruptcy woes may be surprised to discover the city's firefighters have set up intricate, makeshift contraptions involving empty cans just to ensure emergency alerts are delivered properly.
Argentina’s Senate has passed a law that will let the country continue paying off its default debt by transferring international bond payments from New York to local banks, which would let other investors buy Argentine debt.
Australian researchers have shown that a book written ‒ and written off ‒ four decades ago accurately predicted where the world would be in terms of resource allocation and the environment. And that does not bode well for the future of humanity.
Financing the military offensive in eastern Ukraine is now proving to be a major economic headache for Kiev. The cost of rebuilding conflict-torn eastern Ukraine may reach $8 billion, Prime Minister Arseny Yatsenyuk has indicated.
Kiev will need an extra $19 billion in external financing by the end of next year if fighting in Eastern Ukraine continues intensively throughout 2015, the International Monetary Fund said in a report.