Economy

Computer glitch shuts down trading on New York Stock Exchange

Computer glitch shuts down trading on New York Stock Exchange

Trading on the New York Stock Exchange floor was halted for nearly four hours. The stoppage shortly after 11:30 a.m. local time Wednesday, with all screens displaying a “No quotation” message, according to eyewitnesses. Trading resumed around 3:10 p.m. “We’re currently experiencing a technical issue that we’re working to resolve as quickly as possible. We […]

Cypriot parliament approves ‘solidarity fund,’ allows capital controls

Cypriot parliament approves ‘solidarity fund,’ allows capital controls

In a bid to secure an EU bailout, the Cypriot parliament has adopted laws creating a “solidarity fund” to pool assets as the basis for an emergency bond issue and allowing the government to impose capital controls for the country’s banks. Nicosia introduced emergency legislation in the parliament late on Thursday to secure a bailout […]

Silicon Valley mulls creation of floating colony in the Pacific

Silicon Valley mulls creation of floating colony in the Pacific

Two American entrepreneurs have made plans to build a floating colony in the Pacific Ocean, where they will bring the world’s most intelligent scientists that are unable to attain a visa to enter the US. The floating colony, which will consist of a large cruise ship parked 12 miles off the Californian coast, will host […]

Obama: ‘There is no debt crisis’

Obama: ‘There is no debt crisis’

The United States is roughly $17 trillion in debt, but President Barack Obama says there’s no reason to worry. Speaking with ABC News correspondent George Stephanopoulos this week, Pres. Obama downplayed concerns of an impending financial catastrophe, claiming quite to the contrary that the country is on track to turning the economy around. “We don’t […]

Sequestration Cuts Medicare Reimbursement Beginning April 1

Sequestration Cuts Medicare Reimbursement Beginning April 1

Newswise — The federal budget sequester went into effect March 1 after a lack of Congressional action to avoid the automatic spending cuts. Effective April 1, Medicare payments to hospitals, doctors, and other health care providers will be reduced by 2%. In the weeks leading up to the March 1 deadline, the Senate twice voted […]

DHS Chamber Breakfast at MLCC

DHS Chamber Breakfast at MLCC

The Desert Hot Springs Chamber of Commerce met for its monthly breakfast at Mission Lakes Country Club on Wednesday, February 27, 2013. Guest speaker was Bob Schneider, owner and operator of Desert Adventures (red-jeep tours). He gave a fascinating autobiographical account of his background in corporate marketing and how he came to be a business […]

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