Articles by Nish Amarnath

Crooks Cost Government Billions More In Identity Theft

As Congress makes it easier for taxpayers to collect refunds from the Internal Revenue Services (IRS), scores of crooks have been stealing people's identities, costing the debt-ridden federal government billions of dollars.

Greeks Pack Off To Germany In Droves

Thalia Paraskeva, 24, was getting increasingly desperate. Equipped with a degree in graphic design from Athens, she had no luck finding a job in Greece. One day, she booked a ticket to Berlin and swiftly packed some dresses, a jacket, a pair of snug boots and a Greek-German dictionary before boarding the plane.

Shocking Fraud In For-Profit Colleges: Senate Probe

For-profit colleges, which are squandering their resources at the expense of students' outcomes, are bilking the government and the public, a two-year investigation led by Sen. Tom Harkin (D-Iowa), chairman of the U.S. Senate Committee on Health, Education, Labor and Pensions, concluded.

With Euro Zone Joblessness Sky High, Its Survival Is At Risk: Analyst

The number of unemployed people across all 17 euro zone countries soared 11.2 percent to 17.8 million in June -- up 1 percentage point from the year before, Eurostat, the European Union's statistical agency, reported Tuesday. Euro zone unemployment among people younger than 25 rose to 22.4 percent.

Americans Earned More, Spent Less In June

Despite rising income at the end of the second quarter, U.S. consumer spending fell in June by 0.1 percent from the month before, the Commerce Department said on Tuesday.

US Weather Woes Crimp Wheat Supply In Europe: Analyst Insight

The wheat production downgrade, made after corn and soybean prices reached fresh, all-time highs, is a blow for global wheat suppliers, especially those in Canada and the Black Sea, which includes Russia, Kazakhstan and Ukraine, Barclays PLC said on Monday.

Chicago Bridge & Iron To Acquire The Shaw Group For $3B

Energy infrastructure company Chicago Bridge & Iron Company NV (NYSE: CBI) will buy The Shaw Group Inc. (NYSE: SHAW), a Baton Rouge, La.-based engineering and construction firm, for about $3 billion in cash and stock, the companies said Monday.

Pfizer Earnings Preview: Profit Down On Falling Sales

Pfizer Inc. (NYSE: PFE), the world's largest drug developer by revenue, is expected to report a decline in second-quarter profits on declining sales of its top-selling cholesterol drug Lipitor and generic competition for its glaucoma pill Zalatan.

US Retailers Dig Their Own Grave

The hefty $7.25 billion settlement that Visa and MasterCard have agreed to, in response to a 2005 class action lawsuit over credit card swipe fees, will disadvantage retailers further and restrict consumer spending in an economy that relies heavily on credit card use and personal expenditure.

UPS, DuPont, TI - Latest To Trim Outlook After Q2 Earnings Reports

Global economic uncertainty and the dreaded fiscal cliff have taken a toll on American consumer demand, affecting second-quarter revenues and urging companies to dim their forecasts. DuPont and Co, Texas Instruments, Inc. and United Parcel Service, Inc. are the latest to do so.

Merck Second-Quarter Earnings Preview: A Glimpse

Based on analyst estimates, Merck & Co. will report earnings of $1.01 a share on sales of about $12.16 billion -- an increase of 0.1 percent from the year-earlier quarter. The company posts its second-quarter earnings on Friday, before the opening bell.

ExxonMobil Is Expected To Report Weak Earnings From Lower Gas Prices

Based on a median estimate among analysts polled by Thomson Reuters, ExxonMobil will report earnings of $1.96 a share on revenues of about $115.08 billion -- a decline of 8.3 percent from the year before. The company will post its second-quarter earnings on Thursday at 10 a.m. EDT.

NY Fed Urges 'Capital Control' Of Money Market Funds

The Federal Reserve Bank of New York is proposing that money market managers be empowered to hold back depositors' money for 30 days in the event of a run on funds. The controversial proposal is being called by critics a kind of capital control.

Verizon's Q2 Earnings Receive Upgrade To 'Strong Sell'

Standard & Poor's (S&P) Capital IQ equity analyst Todd Rosenbluth changed his rating on Verizon Communications (NYSE: VZ), from Hold to Strong Sell after the $128.4 billion-cap mobile service carrier posted its second-quarter earnings Thursday morning.

IMF Urges UK To Jumpstart Economy

Britain risks permanent damage to its economy if the government does not adopt fiscal stimulus measures to reverse the country's recession, the International Monetary Fund (IMF) warned Thursday as it pressed for a reduction in the country's deficits to jumpstart its ailing economy.

Grassroots Group Tries To Bypass Fiscal Cliff

As Washington struggles to address America's intensifying fiscal woes, it is getting help from an independent and growing brigade of budget experts, business tycoons and civic leaders.



Scholz Downplays Differences On Ukraine On South America Tour

German Chancellor Olaf Scholz sought to drum up support for Ukraine during his first South American tour although differences with his hosts emerged, with Argentine President Alberto Fernandez declaring the region was not planning on sending weapons.