Ceiling suspended: US takes on $300bn in new debt after hitting $16.7 trillion

America’s ticking debt bomb has been reset. Washington has suspended the debt ceiling, setting a date, and not a concrete dollar sum as a deadline, an unprecedented first in US history.

May 20, 2013 10:03

‘We need money to live’: Thousands protest against Italian PM, austerity measures (VIDEO, PHOTOS)

Thousands of people gathered in Rome on Saturday to protest austerity measures and high unemployment. Demonstrators urged Prime Minister Enrico Letta to create jobs in order to pull the country out of recession.

May 18, 2013 15:39

Saving Cyprus: IMF approves $1.3bn rescue package

The IMF has approved a three-year, $1.3 billion loan to jump start recovery in Cyprus and restore financial credibility to its indebted banking industry.

May 16, 2013 08:58

Netanyahu in hot water over $127k mid-air sleeping chamber amid austerity protests

Israeli Prime Minister Benjamin Netanyahu has found himself wrapped in a blanket of controversy over his posh in-flight sleeping arrangements. It comes after reports that he and his wife had a $127,000 bedchamber custom-built for a flight to London.

May 12, 2013 18:26

The US government might be the biggest hacker in the world

The United States government is investing tens of millions of dollars each year on offensive hacking operations in order to exploit vulnerabilities in the computers of its adversaries, Reuters reports.

May 10, 2013 14:21

House passes 'Pay China First' Act

The Republican-controlled United States House of Representatives approved a bill on Thursday that would require the government to begin paying back foreign nations before spending funds on domestic items.

May 09, 2013 18:04