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U.S. Banks to Sing the Moody’s Blues

  It wasn’t long ago that the Fed gave most U.S. banks a passing grade in its “stress test.” And just like that financials started looking healthy again. It was only a prolonged flash in the pan, apparently, because banks are now readying themselves for a credit downgrade from Moody’s. Among the majors receiving the...

Unbelievable Video Reveals Biomedicine’s Future?

  Hippocrates, the ancient Greek physician, declared that “anatomy is the foundation of medicine and should be formed on the basis of the human body.” Well, apparently he knew what he was talking about, because 2,200-plus years and countless cadaver dissections later, we’re now spraying healthy cells onto damaged skin, growing human organs in Petri...

Investors Finally Wary Over Spanish Bailout

  Spain’s banks have been granted a bailout package of up to 100 billion euros. On news of the aid, the market reacted optimistically before reversing its sentiments. Now Spanish and Italian bond yields are rising once again. Josh Raymond, Market Analyst for City Index, says uncertainties are creeping into the fray: “Whilst the bailout...

Oil Sanctions Against Iran Might Mean Crude Discounts

  New oil sanctions are coming just around the corner for Iran, slated to take effect at the end of this month. It’ll mean less oil exports for the country and that means a sharp dip in the global oil supply. Especially in Asia, where Japan, China, South Korea and India are all heavy importers...

Bernanke Shows No Love for Congress

  Want to know what’s happening on the Federal stimulus front? So does everyone else. And Bernanke’s not working overtime to answer questions. Instead, he spent much of his time in front of the Joint Economic Committee leaning hard into U.S. congress, calling their procedures muddled and their goals incoherent. Mark Felsenthal, an economic correspondent...

Greek Tourism Crumbles under Uncertainties

  The Parthenon… the caldera of Santorini… Myrtos Beach… Mount Olympus… There are myriads of attractions in Greece that draw visitors from all over the world. And tourism has traditionally been an integral part of the country’s economy. But tourism is set to drop 15% this year, according to the Greek Tourism Enterprises Association: “After...

VIDEO: Amazing Cure for Paralysis Imminent?

You might think of paralysis as a problem that afflicts a small, unfortunate minority of people. If you were to guess, maybe you’d wager that one in 1,000 – or even as few as one in 10,000 – individuals suffer from paralysis… Well, that couldn’t be further from the truth. In fact, according to the...

The Drachma Threatens to Return

  The future currency of Greece is a looming question. But what’s not a question is the effect reverting to the drachma would have: It would be a disaster. It’s not just the reigning opinion of analysts, either. Vassilis Tsirikos owns Tsirikos Bikes, one of the rare companies to continue doing well despite Greece’s dilapidated...

Spain Seeks Aid and Euro Banks Call for Reform

  Even while Spain’s banking crisis became steadily more severe, the country maintained it would be capable of handling the crisis on its own. But now, increasingly high borrowing costs are forcing the government to change its tune and reach out to other countries for aid in recapitalizing its banks. Despite its newfound supplication, Spain...

Wall Street Takes a Stiff Beating Over Global Economy

  The numbers behind Wall Street’s pain are depressing, to say the least… U.S. unemployment in May notched up for the first time in 11 months to 8.2% and job growth checked-in at a sour 69,000. On the upside, U.S. manufacturing showed continued growth, albeit slight. However, that beats the sector’s performance in both China...