The U.S. stock market lost $1.4 trillion in value in June 2008 and posted a record-setting $1.2 trillion single-day loss in market value in late September 2008. Three years since, the U.S. stock market still has to recover from what is widely regarded as the worst financial crisis since the 1929 Great Depression. [Read more...]
New rules are planned to be adopted this summer by the Consumer Financial Protection Bureau. That was announced on Wednesday on May, 9. The bureau stated that they were going to limit the banks and mortgage agencies rights to charge some extra transaction fees. It was reported that during the crisis some mortgage agencies charged the upfront discount points without further lowering of the interest rate. [Read more...]
Online lender Wonga is launching a business loans service amidst criticism that directed on Wonga’s entry into the industry as an indictment of the government’s failure to facilitate bank loans to small- and medium-sized businesses (SMBs). Another critic stated that turning to Wonga to obtain working capital is an irresponsible move especially for businesses that use credit cards for their business funding. [Read more...]
The official data that was revealed on April, 23 concerning Britain, make analysts identify a double-dip recession in the country. Such falling of economy hasn’t been observed since 1970. The indexes released in April put a question whether Britain’s way to Europe was the reason of present situation.
The GDP (gross domestic product) of the country has not increased by now (the figures per quarter leave much to be desired). Economic output of UK fell down to 0.2 percent during the first quarter of this year. [Read more...]
White House budget documents have been dappled with the names of award-winning French economists Emmanuel Saez and Thomas Piketty, whose work caused upheaval in economic sphere. Their study was unique, as they calculated the income inequality with an account to history, conducting vast archive research for as long ago as 1913. The conclusion was that the income inequality has reached Great Depression levels, and the tax rate applied by President Roosevelt was 91 percent. [Read more...]
In March, there was a visible decrease in demand for factory goods in the United States. Most probably it’s the most dynamic decrease for the last three years and the US economy has been hurt by this abrupt fall in orders for business aircraft.
According to the recent studies conducted by the Commerce Department, orders for factory goods decreased 1.5%. This decline is considered to be the steepest one since March 2009, when the US economy was paralyzed by the world economic downtime. However, the orders managed to grow 1.1% in February. [Read more...]
