Finance
Flawed $100 bills printed with a blank patch on Benjamin Franklin’s face
A portion of $100 bills creased during the printing, leaving 30 % 0f the notes with a blank patch on Benjamin Franklin’s face. The newly redesigned bill, printed on high quality cotton and linen stock, was the latest in a series of redesigned US currency intended to fight counterfeiting. President Barack Obama’s Treasury secretary, Timothy…
Read MoreContinental Airlines blamed for Concorde Crash
Continental Airlines have been ordered to pay by a Paris court 200,000 euros and was deemed criminally responsible for the 2000 crash of the Concorde. In July 2000 the Concorde caught fire shortly after take off from Charles do Gaulle airport in Paris killing 113 people . The cause of the crash, a judge in…
Read MoreLabor Department says unemployment numbers high in December
In November the US unemployment rate rose 9.8%, the highest rate since April, this is an increase from the 9.6% a rate recorded in the previous three months , raising fears about the strength of the economic recovery, the Labor Department said. Many discouraged workers gave up looking for new jobs altogether during the slump,…
Read MoreExtended unemployment benefits to end today
Unless Congress changes its mind, ,Extended unemployment benefits that had been extended up to 99 weeks will end this month benefits will start running out today for an estimated two million Americans,The average weekly unemployment benefit in the U.S. is $302.90, though it varies widely depending on how states calculate the payment. Because of supplemental…
Read MoreCompanies that used emergency loan facilities
The details of 21,000 transactions have been released by the Feds that used emergency loan facilities during the financial crisis and the amount they borrowed. Congress ordered the documents to be released and the details have been posted on the Fed’s website The information will disclose the degree of support offered to banks but some…
Read MoreDemocratic Representative Congressman found guilty
Democratic Representative Congressman Charles Rangel of New York was found guilty on 11 counts of breaking house rules by an eight member House ethics committee .He has been accused of 13 counts of engaging in financial and fundraising misconduct. Appropriate punishment following a hearing will be recommended by the panel to the House of Representatives…
Read MoreRare Diamond Sold
A well known British dealer bought a rare pink diamond for $46 million dollars at Sotheby’s auction at Geneva’s luxury Beau Rivage Hotel. The diamond trader Laurence Graff put in the bid by phone to buy the gem. The 24.78 caret Pink diamond has been kept in a private collection for 60 years since it…
Read MorePossessions of Bernard Madoff sold at Auction
When fraudster Bernard Madoff was arrested two years ago the US marshals seized everything he owned All of the disgraced financier possessions and his wife’s belongings are being sold at a New York auction including his worn socks and monogrammed boxer shorts .The ballroom of a New York hotel was packed when the auction began…
Read MoreForeclosure on homes drops 9 per cent in Oct
A drop in home repossessions dropped 9 per cent from Sept to Oct ,Reality Trac , a foreclosing listing firm said, as several major lenders temporarily halted most or all of their foreclosures amid allegations thousands of foreclosures were handled improperly. The lenders seized more than1 million homes this year. Some lenders had suspended taking…
Read MoreSlow US unemployment growth
No short term way to reduce the high US unemployment ,a top economic adviser to President Barack Obama ,Paul Voicker has said .For the next year or more he expects the growth to be slow. In an effort to boost growth and create jobs and trying to cut unemployment that stands at 9.6 percent, the…
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