If the debt ceiling isn't raised before Aug. 2, or if America's prized AAA credit rating is downgraded, it will mean at least a decade of financial instability to clean up after.
South Africa's rand slipped on Thursday after posting strong gains this week, while bond prices fell on concerns over the U.S. debt standoff and stocks fell for the fourth straight day.
South Africa's official jobless rate rose further in the second quarter of this year as the mining and manufacturing sectors shed jobs.
Some 100,000 South African gold miners went on strike on Thursday, but fuel workers ended a stoppage that had slowed commerce and caused panic buying.
The number of Americans claiming new jobless benefits hit a three-month low last week and contracts to buy existing homes rose in June, hopeful signs for an economy that has struggled to regain momentum.
New claims for unemployment benefits fell more than expected last week, dropping below the key 400,000 level for the first time since early April, according to a government report on Thursday that pointed to some labor market improvement.
The number of Americans claiming new jobless benefits hit a three-month low last week and contracts to buy existing homes rose in June, hopeful signs for the economy which has struggled to regain momentum.
Fear the United States will lose its AAA credit rating or even default on its debt is driving foreigners away from U.S. assets, and the dollar is taking the biggest hit.
U.S. initial jobless claims fell last week by 24,000, to a 3-month low of 398,000, according to the Labor Department.
The number of Americans claiming new unemployment benefits last week dropped below the 400,000 level for the first time since early April, a hopeful sign for the economy which has struggled to regain momentum.
Japan's biggest consumer electronics makers are expected to show quarterly earnings slumped due to the March earthquake, but investors will focus on whether these companies can meet their forecasts for a swift recovery, given a fragile global economy.
With America edging ever closer to a default, and a downgrade in the US credit rating, some realizations are starting to hit America's youth about their future. The consequences of the partisan squabbling of their parents' generation may leave them with little to inherit and much to despise.
If the debt ceiling isn't raised before Aug. 2, or if America's prized AAA credit rating is downgraded, it will mean at least a decade of financial instability to clean up after.
With America edging ever closer to a default, and a downgrade in the U.S. credit rating, some realizations are starting to hit America's youth about their future. The consequences of the partisan squabbling of their parents' generation may leave them with little to inherit and much to despise.
With America edging ever closer to a default, and a downgrade in credit rating, some realizations are starting to hit America's youth about their future. The consequences of the partisan squabbling of their parents' generation may leave them with little to inherit and much to despise.
Yemeni President Ali Abdullah Saleh, who escaped an attempt on his life by opponents, will only cede power through the ballot box and the country will descend into civil war if he is forced from office, his foreign minister said.
Striking workers in South Africa's petroleum sector are discussing a revised wage offer to end a three-week-old walkout as stoppages spread to the vital mining sector, threatening supplies of coal and gold.
Depression rates are higher in countries with higher incomes, a study found. 121 million people worldwide suffer from depression and rates are disproportionately high in countries with higher incomes. Depression significantly decreases quality of life and inherently comes with distorted, irrational, and negative thinking patterns.
Inflation has seen a slightly higher-than-expected rise, though it still may not be enough to prompt an RBA move next week.
Prices for new single family homes rose to a five-month high in June even as sales slipped, but recovery for the broader housing market continues to be frustrated by an oversupply of properties.
The recession has blown open discrepancies in wealth between white Americans and minorities, with Hispanics seeing the most precipitous decline in average household wealth, according to a Pew survey.
White families? net worth is 20 times greater than that of blacks and 18 times that of Hispanics.
