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Mario Draghi, president of the European Central Bank (ECB), has asked policymakers to focus their crisis support on solvent Eurozone banks.  “The ECB will continue lending to solvent banks and will keep the liquidity lines active and alive with solvent banks,” Draghi said. World stock markets have lost roughly $4 trillion as European turmoil proliferated […]

Google Chrome has overtaken Internet Explorer (IE) to become the world’s most widely used web browser.  Google Chrome was the world’s most popular web browser for a single weekend in March, but according to StatCounter, it is now more popular than Microsoft’s Internet Explorer and is expected to remain in the top spot for the […]

Last year, Kansas Governor Sam Brownback stunned the national arts community by vetoing funding for the Kansas Arts Commission.  Brownback recently changed his mind and approved a state budget that includes $700,000 for a newly created Creative Arts Industries Commission. “It’s a big win for Kansas,” said Sarah Fizell of Kansas Citizens for the Arts.  […]

The world’s largest banks need to raise as much as $566 billion of common equity to meet Basel III rules on capital to be implemented by 2019, cutting shareholder returns, according to analysts at Fitch Ratings.  The 29 global banks that regulators believe are too big to fail need new capital that equals nearly 23 […]

Chinese conglomerate Dalian Wanda Group Company is buying the movie theater chain AMC Entertainment Holdings, for $2.6 billion in China’s biggest takeover of an American company.  The purchase reflects the global ambitions of a wave of cash-rich Chinese companies that are speeding their expansion by obtaining foreign skills and brand names.  According to Wanda, the […]

Disagreement emerged early during the latest round of international climate change talks in Bonn, with the European Union (EU) and developing countries clashing over the future of the Kyoto protocol.  Under the terms of last year’s Durban Platform, the EU had agreed to sign an extension of the Kyoto protocol before it lapses at the […]

The 17-nation Eurozone is at risk of falling into a “severe recession,” the Organization for Economic Cooperation and Development (OECD) warned, as it called on governments and the European Central Bank to act quickly to keep the slowdown from becoming a drag on the global economy.  OECD Chief Economist Pier Carlo Padoan warned the euro-zone […]

In a body known for such talented orators as Senator Everett McKinley Dirksen and Senator Robert Byrd, it’s disheartening to learn that a new study has determined that the average member of Congress speaks at the same level as a high school sophomore – that’s nearly a full grade lower than in 2005.  According to […]

If you want to sell a product, price it correctly. That theory at long last appears to be working in the U.S. housing market.  The National Association of Realtors (NAR) reported that sales of existing homes rose 3.4 percent in April when compared with March.  One reason is that asking prices were remarkably affordable.  The […]

Despite Germany’s strong manufacturing output in March, it was not enough to compensate for a slump across the rest of the Eurozone with declining production, a signal that an expected recession may not be as mild as policymakers hope.  Industrial production in the 17 Eurozone countries declined 0.3 percent in March when compared with February, […]