Global economy

‘Profits over public health’: Secret TPP Healthcare Annex published by WikiLeaks

‘Profits over public health’: Secret TPP Healthcare Annex published by WikiLeaks

WikiLeaks published more secret documents from the controversial TPP agreement on Wednesday. The leaked drafts concerning healthcare in the US have activists worried the agreement might play into the hands of big pharmaceutical companies. The secret Trans-Pacific Paternship (TPP) negotiations showed that the Healthcare Annex has been seeking to regulate state schemes for medicines and […]

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 […]

World’s largest Bitcoin exchange suspends US withdrawals

World’s largest Bitcoin exchange suspends US withdrawals

For the next two weeks Bitcoin users in the US will be unable to withdraw the virtual currency in dollars. Major exchange Mt. Gox cited an unusually high demand as the reason for the suspension, while customers worried the company has run out of cash. Mt. Gox, based in Tokyo, Japan, handles approximately 80 per […]

Cyprus, Troika agree to 20% tax on deposits over 100,000 euros at Bank of Cyprus

Cyprus, Troika agree to 20% tax on deposits over 100,000 euros at Bank of Cyprus

Cyprus and the Troika have agreed to a 20 per cent tax on deposits over 100,000 euros at the Bank of Cyprus and 4 per cent on deposits held at other banks. A senior Cypriot official told Reuters that a plan to tap nationalized pension funds would not be a part of a plan to […]

‘Net is closing in on cybercriminals’ – Kaspersky Lab stands by INTERPOL

‘Net is closing in on cybercriminals’ – Kaspersky Lab stands by INTERPOL

With Russia’s leading information security company Kaspersky Lab’s onboard to provide Interpol intelligence on cybercrime worldwide, cyber criminals will likely find it increasingly hard to escape justice. Today the International Criminal Police Organization expects the Russian cyber security company to be a constant reliable consultant in investigating and preventing cybercrime in the global web. Earlier […]

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 […]

Michigan takes over bankrupt Detroit

Michigan takes over bankrupt Detroit

The state of Michigan is taking over America’s poorest city and managing its finances. After years of decline, Detroit has reached a point that has finally prompted Gov. Rick Snyder to order an emergency state takeover of the bankrupt city. “There’s probably no city that’s more financially challenged in the entire United States,” Snyder said earlier […]

US unemployment rises in another indication of weak economy

US unemployment rises in another indication of weak economy

The US unemployment rate is on the rise again, with 12,3 million Americans with no job even according to the official statistics, bringing the unemployment rate to 7.9 percent. The unemployment rate rose from 7.8 in December to 7.9 percent in January, leaving 100,000 more Americans unemployed , according to the US Bureau of Labor […]