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“Literally nobody cares.” That was one reaction from a Wall Street bank analyst on the news of a possible $11 billion fine J.P. Morgan Chase & Co. is facing from regulators. The impact of this size of a fine would basically wipe out a little more

Oof: the Great Recession cost each household between $50,000 and $120,000, or the equivalent of 40% to 90% of one year’s economic output, according to a study released by the Dallas Fed. In total, that represents an output loss of $6 trillion to $14

U.S. job openings fell almost across the board in July, according to a government report on Tuesday that shined a light on labor market weakness during that month. Job openings - a measure of labor demand - fell 180,000 to a seasonally adjusted 3.7

Richest 1 percent of Americans collected biggest share of household income since 1928 The income gap between the richest 1 percent and the rest of America last year reached the widest point since the Roaring Twenties. The top 1 percent of U.S

Green and left-wing lawmakers on Wednesday nominated US intelligence leaker Edward Snowden for the European Parliament's prestigious Sakharov human rights prize. Snowden, who has sought asylum in Russia, "deserves to be honoured for shedding light on

With everyone focused on the 5th anniversary of the Lehman failure, we are taking a quick look at how the world's developed (G7) nations have fared since 2008, and just what the cost to restore "stability" has been. In a nutshell: the G7 have added

Tomorrow is the one year anniversary of the Fed's announcement of "open-ended" QE, or as we dubbed it, QEternity. A few months later, as Operation Twist expired, the Fed also announced the current distribution of securities subject to monthly

Months of anticipation will come to an end next week when the Federal Reserve finally says whether it will start to rein in its massive stimulus of the economy, which has flooded financial markets with some $2.75 trillion over the past five years

How do you know the August jobs report was pretty bad? When the best thing you can say is that it might have met Wall Street expectations if not for a temporary shutdown in the port industry last month. (The motion picture and sound recording

G20 members say they expect to begin automatically sharing tax information by the end of 2015. The system of information sharing forms part of plans to tackle global tax evasion. In a communique published on Friday, G20 leaders said they would take

Two months ago, when we reported that the NSA has successfully inserted illegal access protocols into the Android OS, thus granting it back door access into nearly three quarters of all cell phones, the news was met with skepticism and resistance

Battle-weary policy makers do not want to believe that an emerging market crisis is possible. But there are striking resemblances now to the economic troubles these countries suffered in the 1990s. Then, loose monetary policies pursued by the Federal

The 2013 German federal elections may bring about pretty complicated results. With Merkel's junior coalition partner's (FDP) support dropping below the mandated 5% to enter parliament (according to polls), as Deutsche Bank notes, there is no point in

-Corporate bankruptcies among firms with liabilities of at least 10 million yen fell 15% on the year to 819 in August, for the 10th straight month of year-on-year decline, and the smallest number for a single month since March 1991, when it logged

Remember when Obama said it is impossible for the NSA to spy to American citizens? Well, at least one guy didn't get the memo. As AP reports, two U.S. officials said one analyst was disciplined in years past for using NSA resources to track a former

The global economy could be in the early stages of another crisis. Once again, the US Federal Reserve is in the eye of the storm. As the Fed attempts to exit from so-called quantitative easing (QE) – its unprecedented policy of massive purchases of

Greece should never have been allowed to join the euro, German Chancellor Angela Merkel said, as she tries to lay the blame for the eurozone's debt crisis at the door of her political opponents. Campaigning for re-election next month, Germany's

U.S. banks reported record net income of $42.2 billion for the second quarter on broad gains from trading revenue, the Federal Deposit Insurance Corp. said. Banks’ earnings for the three months ending June 30 marked a second consecutive record

The EuroStoxx50 (Europe's Dow) is down 3.3% on the week - it's 2nd worst week in 11 months. Yesterday's dramatic EUR weakness against the USD extended today back below 1.32 (EURUSD's worst week in the last 8) but today that weakness spread into

US Manufacturing and Non-manufacturing PMI’s, Trade Balance and a number of Employment releases including the all-important NFP event on Friday; Rate decision in Australia, Canada, Japan, UK and the Eurozone. Check out these events and more, on our