Global economy

Richest 1% own 50 percent of world wealth- Credit Suisse report

Richest 1% own 50 percent of world wealth- Credit Suisse report

World wealth has reached a record $263 trillion but is concentrated in fewer hands. The richest 1 percent have accumulated more wealth, and own almost 50 percent of it, which could trigger recession, according to a new report by Credit Suisse. The Credit Suisse Global Wealth Report, released Tuesday warns that the “abnormally high wealth […]

Clinton Initiative 2014

Clinton Initiative 2014

President Clinton hosted the third annual Health Mattes Conference on January 14th. The Clinton Foundation and Tenet Healthcare Corporation sponsored the event. New partnerships and commitments from, Jed Foundation, Facebook, MTV, Aspen Institute Sport and Society Program, Nike and the United States Olympic Committee, Knight Foundation, Palisades Media Ventures, James Beard Foundation, Saddleback Church, P.E.A.C.E. […]

Game changer: Swiss banks ditch secrecy

Game changer: Swiss banks ditch secrecy

Switzerland, the world’s largest offshore wealth center, worth an estimated $2.2 trillion in assets, has signed an agreement to share financial information with nearly 60 other countries, which could completely change the country’s financial landscape. The country has made a giant leap towards banking transparency after it signed a convention with the Organization for Economic […]

Senate leaders reach deal to avoid default, end shutdown

Senate leaders reach deal to avoid default, end shutdown

Lawmakers in the Senate are weighing a bipartisan bill that is expected to re-open the United States government and save the country from default. During an early afternoon hearing on Capitol Hill on Wednesday, Senate majority leader Harry Reid (D-Nevada) acknowledged, “The eyes of the world have been on Washington all this week, and that […]

‘No Monsanto!': World marches against GMO food

‘No Monsanto!': World marches against GMO food

Thousands took to streets across the world’s cities on Saturday to protest the use of GMO products, with Giant Monsanto being the main target. Over 50 countries have been taking part in the march for world food day, and across 47 different US states. Berlin, Strasbourg, Chicago, London, Sydney and Mumbai are just a few […]

Demystifying the debt ceiling: 5 things you should know

Demystifying the debt ceiling: 5 things you should know

As the US government is about to hit its so-called debt ceiling of $16.7 trillion on Oct. 17, the frightening prospect of the world’s biggest economy running out of cash is dominating headlines around the globe. So, in an effort to shine some light on what exactly thedebt ceiling means to all of us, Business RT […]

G20 Syria divide: World’s largest nations speak out against US-led strike

G20 Syria divide: World’s largest nations speak out against US-led strike

As leaders of countries making up half of the world’s population firmly opposed military action against Syria without a UN mandate, the US kept pushing for a strike, claiming that many countries represented at the G20 summit were “comfortable” with it. Although discussion of the Syrian conflict was never officially on the G20 agenda, world […]

New record: Federal Reserve owes more than $2 trillion in US debt

New record: Federal Reserve owes more than $2 trillion in US debt

The United States Federal Reserve has set a new record, but it’s not one exactly worth celebrating. For the first time ever, the Fed owns more than $2 trillion in US debt. According to the Fed’s latest weekly account, the central bank currently is holding roughly $2,001,093,000,000 in US Treasury securities. That statistic, first reported […]

US blows out $16.7 trillion debt limit

US blows out $16.7 trillion debt limit

The US Treasury has already exceeded the federal legal borrowing limit of $16.7 trillion in May. That signals the main structural problems remain unresolved putting at risk the fragile recovery. The country’s  outstanding public debt is already $38.82 million above the statuary debt ceiling and now at $16,738,220,000,000.00, according to Treasury data. Christopher Weafer from the […]

1 2 3 5