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Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – U.S. stocks slipped into the red Friday morning after uncertainties lingered following Thursday’s European deal to tackle the eurozone debt crisis. Shortly after 10 a.m., the Dow Jones Industrial Average was down 3 points, the Standard & Poor’s 500 Index was off 5 points and the NASDAQ fell 11 points. All eyes are still focused on Europe and the financial crisis that the eurozone faces. Analysts are questioning if the $610 billion rescue fund leaders agreed on Thursday will be enough. On the [...] Continue Reading…

Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – From 2000 to 2010, the median income in the United States fell 7 percent after adjusting for inflation, the U.S. Census Bureau reported. The decline marks the worst 10-year performance on record, dating back to 1967. And what’s worse is that according to economists in the latest Wall Street Journal forecasting survey, income will not catch up before 2021. Census Bureau data also revealed that a college degree doesn’t hold the clout and earnings power it once had. Only advanced degree holders managed to eck [...] Continue Reading…

Linda Young – AHN News Writer
Washington, DC, United States (AHN) – The U.S. economy is “tipping into a new recession,” the esteemed Economic Cycle Research Institute says. Moreover, there is absolutely nothing that policy makers can do to stop it. In a statement on its website, ECRI stated that it warned its clients last week about the looming double-dip recession. The only thing ECRI says it is not certain of is whether the recession is just around the corner or if it has already started. The ECRI also made a case for why people should heed [...] Continue Reading…

Vittorio Hernandez – AHN News
Berlin, Germany (AHN) – The Bundestag, Germany’s Parliament, agreed on Thursday to increase the country’s guarantees on European Union loans to $284 billion (€211 billion) from $167 billion (€124 billion). The 523 to 85 vote gave the European Financial Stability Facility (EFSF) power to purchase bonds in secondary markets, enable bank recapitalization and offer precautionary credit lines. The Bundestag also approved the increase in the EFSF to $599 billion (€440 billion). The measure was approved because of the support of the Christian Democrats, Free Democrats, Social Democrats and Greens. The approval of [...] Continue Reading…

Diane Alter – AHN News Reporter
Dallas, TX, United States (AHN) – Texas has endured one of its hottest summer this year in its history, according to the National Oceanic and Atmospheric Administration. So when rain began to fall Thursday, it was welcomed like a long lost friend. In addition, Texas has also experienced one of its driest. Wildfires have been raging though Texas near Austin. Thousands of homes have been destroyed and businesses ruined. Nearly all of the Lone Star State is currently classified as being in an extreme or exceptional drought by the U.S. Drought Monitor. [...] Continue Reading…

The Media Line Staff
Manama, Bahrain David Rosenberg (The Medi – King Hamad bin Isa Al-Khalifa has chalked up some successes in the past weeks in his drive to steady his island country after the shocks of mass unrest and a violent crackdown, but analysts say business stands no chance of getting back to usual without deep political reforms. The kingdom reported on Sunday that its economy grew by 1 percent quarter-on-quarter in April-June after shrinking in the previous three months during the peak of the turmoil. Two days earlier, Bahrain was awarded a slot in the global Formula [...] Continue Reading…

Linda Young – AHN News Writer
Sao Palo, Brazil (AHN) – Brazil’s central bank cited a “substantial deterioration” in its outlook for the economy and unexpectedly announced a cut in its key interest to 12 percent from 12.5 percent. Rising prices have been a problem in Brazil, and the central bank had raised its key interest rate five times this year in an effort to contain inflation. However, inflation is still running at a six-year high of 7.1 percent. The continued high inflation rate couple with the unexpected cut coming a few days after several politicians had [...] Continue Reading…

Linda Young – AHN News Writer
London, United Kingdom (AHN) – Retail sales, excluding gasoline, grew weakly in the United Kingdom during July rising only 0.2 percent compared to the 0.8 percent growth rate in June, according to Office for National Statistics (ONS). A drop in the sales of clothing and household goods offset the increase in food sales. Sales of clothing, shoes and household goods dropped by 0.3 percent each, which offsets the 0.7 percent growth in food store sales. Economists blame the decline in retail sales on inflation in prices coupled with job losses and [...] Continue Reading…

AHN Sports Staff
Seattle, WA, United States (AHN Sports) – PBA Hall of Famers Mike Aulby and Parker Bohn III, along with PBA Tour champions Danny Wiseman and Doug Kent, participated in the 10th annual “Jeff Gordon Bowling Ball” in Indianapolis on July 28, an event that raised more than $300,000 in support of Jeff Gordon’s Children’s Foundation and Riley Hospital for Children. The annual bowling fundraiser has generated more than $1.58 million to Riley Hospital for Children since its inception. In addition, Gordon made a pledge of $1.5 million to Riley Children’s Foundation in 2010, establishing the Jeff [...] Continue Reading…

Linda Young – AHN News Writer
Washington, DC, United States (AHN) – The national unemployment rate for the month of July remained little unchanged at 9.1 while total nonfarm payroll employment rose by a modest 117,000, according to the monthly report by the U.S. Bureau of Labor Statistics. Although the 117,000 jobs created during July was slightly better than anticipated, it was still not enough to keep up with growth in the number of working-age Americans, let alone make a dent in the unemployment figures. Economists say the nation must create from 120,000 to 200,000 jobs monthly to keep [...] Continue Reading…