As a microcosm of the huge financial crisis enveloping state and municipal governments across the country consider the case of Oakland, California.
House Speaker John Boehner, R-OH said on Tuesday that he should be a member of the Tea Party, the activist movement pursuing big cuts in government spending.
The 60-member team of Pakistan Prime Minister Yousuf Raza Gilani has resigned en-masse on Wednesday to facilitate pruning of the cabinet which should not exceed 48 members as per the country's constitution.
Chairman Ben S. Bernanke testimony on The Economic Outlook and Monetary and Fiscal Policy Before the Committee on the Budget, U.S. House of Representatives, Washington, D.C. February 9, 2011
The fatal shooting of three separatists in the India’s tea-producing regions of Darjeeling in West Bengal state have prompted an indefinite strike that is likely to shut down the local economy.
The British government has entered into a comprehensive agreement with the nation’s largest banks on matters related to lending, transparency and bonuses payments to executives, after four months of negotiations and wrangling.
Medtronic Inc. (NYSE: MDT) said the U.S. Food and Drug Administration (FDA) approved its Revo MRI pacemaker - the first such device in the U.S. designed for safe use during certain magnetic resonance imaging (MRI) exams.
While 1994 was dubbed as the worst year for fixed income investors, we believe that the next twelve months could be even worse
The ongoing anti-government Egypt protests now has a face in Wael Ghonim, the Egyptian-born Google marketing executive who first hit the headlines after he disappeared into police custody.
With Italian prosecutors formally asking Silvio Berlusconi to stand trial in the prostitution case, the prime minister's defiant refutations of wrong doings have seemingly come to naught.
The White House unveiled plans to spend $53 billion over the next six years on bringing high-speed rail service to 80 percent of Americans within 25 years, though House Transportation Committee chairman John Mica and Railroads Subcommittee chairman Bill Shuster expressed reservations over its future benefit.
RBC Capital Markets said banks with strongest capital and increased profitability are expected to get green light on dividends. The Federal Reserve is expected to approve dividend increases.
The border clashes between Thailand and Cambodia over Preah Vihear temple ended temporarily following the intervention of the ASEAN mediator on Wednesday.
A mind-numbing total of 739 children died in conflict-related security incidents in Afghanistan in 2010, rights watchdog Afghanistan Rights Monitor (ARM) said in its annual report on Wednesday.
The ambitious project of installing 1 million electric vehicles on American highways by 2015 is ambitious and also achievable based on steps already taken as part of the Recovery Act and additional policy initiatives proposed by President Obama, the US Department of Energy said in a statement today.
Social networking site Facebook on Tuesday opened shop in Hong Kong to expand its presence in Asia notwithstanding its ban in mainland China.
Results of a national survey indicate the growing stress on two-year colleges in the face of repeated budget cuts and steadily rising demands from a population grappling with unaffordable costs of a four-year college degree.
The Central Bureau of Investigation (CBI) arrested the vice chairman of a joint venture between a local firm and Abu Dhabi's Etisalat in connection to a massive telecoms scandal that has crippled the government.
A bill to extend the life of three provisions of the Patriot Act was defeated at the US House of Representatives on Tuesday. The bill was short of 284 votes to pass although it required only two-third majority.
Government regulations allow entry of foreign players in the solar panel manufacturing market in India only if they set up local facilities in joint ventures with domestic manufacturers.
US top military officials on Tuesday unveiled the National Military Strategy, the first revision since 2004 and calls for redefining leadership in a changing world.
China used its regulatory powers to scour the books of Citibank Shanghai in a hostile and extraordinarily intrusive 2007 audit that appeared primarily aimed at controlling Citi's growth and uncovering its secrets to success, the bank's top China executive at the time told U.S. officials.
As Ireland slowly recovers from its financial crisis, the economy will not be able to create any jobs and consumer spending will remain depressed, according to a study by NCB Group, the Dublin-based financial services firm.
Three critics of the Federal Reserve are set to testify before Congress on Wednesday in a hearing chaired by Rep. Ron Paul, R-TX, that will focus on the effect of the Federal Reserve's policies on job creation and the unemployment rate.
The government of Syria has agreed to life a five-year bank on Facebook in what is most likely a concession to its people amidst growing discontent across the Arab world over state repression.
Iran's opposition leaders have asked permission to stage a protest in Tehran next week to express solidarity with ongoing protests in Tunisia and Egypt.
Italian prosecutors will on Wednesday seek an immediate trial for Prime Minister Silvio Berlusconi, accused of paying for sex with an under-age girl and intervening improperly to have her released from police custody.
The rival Koreas held their first talks since a deadly attack on a South Korean island last year amid signs of a thaw in tensions as momentum builds for a resumption of aid-for-disarmament negotiations.
Egyptian security and custom authorities have started screening all incoming and outgoing diplomatic pouches, as a precautionary measure to avoid entry of questionable objects, state news agency Middle East News Agency MENA reported on Monday.
Thai and Cambodian troops stood on high alert on Tuesday after clashing in disputed jungle around a 11th-century Hindu temple as foreign governments urged them to lay down arms.
