Arizona may become the second state, after Utah, to recognize gold and silver as legal tender authorized for payments of debts and taxes. The Arizona Senate voted Thursday to approve SB 1439 which allows businesses and the state government to accept payments in gold or silver. The Legal Tender bill specifies that legal tender in Arizona consists of all of the following: 1. Legal Tender authorized... 

Economists predict that the US Federal Reserve could lose half a trillion dollars in just three years thanks to policies enacted by the central bank under Chairman Ben Bernanke. A study conducted by investment analysts at New York City’s MSCI Inc. suggests that Mr. Bernanke’s efforts to keep the floundering economy in tact on the heels of a recession have proven to be futile and will continue... 

An internal report by the European Union has come down hard on Israel’s decision to continue settlement construction in occupied East Jerusalem, threatening to end economic projects that involve the Jewish settlements. The harshly worded 15-page report provides recommendations to the 27 member-states for responding to Israel’s activities in the occupied territories – which the document described... 

Goodyear employees gather around burning tires outside the Goodyear tire company in the northern French city of Amiens on February 26, 2013. French workers have held a demonstration in the northern city of Amiens against the impending closure of a troubled tire plant in the city. The workers at Goodyear Dunlop Tires France have been trying to save their jobs for more than five years, but in a last-ditch... 

With less than a week before deep spending cuts kick in, Republicans in their weekly address accused President Obama of being ready to plunge the economy into a tailspin to extract higher taxes. “The fact is: Republicans in Congress, right now, will provide the flexibility to make the necessary spending reductions and address our deficit and debt, instead of going through the sequester. In fact,... 

Spaniards protesting against medical spending cuts in Madrid on February 17, 2013. Amid fresh reports of Royal family corruption, furious Spaniards are set to stage massive nationwide protests against severe budget cuts. Massive protests have been planned for Saturday in Madrid, Barcelona and other cities. Teachers, students, miners, medical staff, workers from various sectors, along with a number... 

The European Central Bank is under pressure from US lawmakers over financial relations with the Iran. The legislators are masterminding a bill aimed at preventing the ECB doing any business with Tehran and keeping it from using the euro. The measure is more pressure by the US over Iran’s nuclear program. The draft is believed to be targeting the ECB’s cross-border payment system Target2,... 

Aircraft are stationed on the tarmac of Madrid’s Barajas airport during a one-day strike by the pilots of the Spanish airline Iberia. Workers at Spain’s flag carrier airline Iberia have launched a five-day strike over its plan to cut over 3,800 jobs and reduce salaries. The walkout, which is supported by luggage handlers, pilots and flight attendants, has forced Iberia to ground 415 flights from... 

Central American coffee plantations are facing a serious challenge. Nearly 70 percent of coffee fields in Guatemala are affected by fungal infection called coffee rust. President of the Republic Otto Perez Molina introduced a state of emergency in the country. Guatemala’s national disaster threatens to turn into trouble for residents of other countries as well. Central America has long been... 

Angry about the latest tax hikes? Each year, thousands of Americans pack their suitcases, rip up their US passports and move permanently overseas to prevent Uncle Sam from taking their money. In the first three quarters of 2012, more than 1,100 Americans renounced their citizenship and made their homes elsewhere, according to the Federal Register. Available data does not yet include those who left... 

Greek pensioners shout slogans during a march in central Athens to protest against the government’s austerity measures. Greek pensioners have demonstrated in Athens to protest against the government’s harsh austerity measures and highlight the consequences of the program on their life. On Thursday, hundreds of elderly braved the heavy rain in the capital and marched to the country’s Labor... 

Military leadership worries over loses to Russia and China – As the United States reduces its military budget due to the economic crisis, the country’s main competitors do not. It has made Washington raise concerns for fear of losing its leadership in this area. Although it remains unclear whether Washington can overcome the deadline to avoid the automatic military cuts planned for early... 

China has passed the US as the world’s biggest trading nation as measured by the sum of exports and imports in 2012. It’s a position the US has held for over six decades. ­US exports and imports of goods last year amounted to $3.82 trillion, the US Commerce Department said last week. China’s trade in goods was $3.87 trillion, according to the country’s customs administration report in January. While... 

The U.S. Justice Department found those to blame in the global crisis of the late 2000s. According to the American authorities, this is Standard & Poor’s. The accused is confused, while the U.S. Justice Department is preparing a lawsuit against the agency. It wants to make Standard & Poor’s accountable for publishing inflated ratings of mortgage bonds. Allegedly, this publication... 

German truck manufacturer MAN expects lower sales and earnings in 2013 after the net profit of the company in 2012 contracted to 189 million euros (USD253 million) in the face of Europe’s faltering economy. According to a statement released by the company on Friday, “MAN Group will see a … decline in revenue and a disproportionately large drop in operating profit in 2013.” “Despite the...