Israeli companies hit by the coronavirus (Covid-19) crisis are eligible for loans and grants not only from local Israeli programs but also from the U.S. businesses aid program as well: Any company that has operations in the U.S. and employs workers there can apply under the $2 trillion CARES Business Assistance Program that was passed at the end of March. The company does not have to be registered... 

Robots have been making inroads into the world economy, albeit slowly but surely. Robots have been making inroads into the world economy, albeit slowly but surely. A Bank of America Merrill Lynch report shows close to 50% future job losses as artificial intelligence (AI) and robots take over. That up to 35% of all workers in the UK and 47% of those in the US, including white-collar jobs, will see the... 

A new scandal involving leading financial institutions in Europe and the US has been added to the list of previous cases. Barclays, RBS, JPMorgan, Bank of America, UBS and Citigroup are accused of manipulating foreign exchange market which the FBI says involved criminality “on a massive scale”. Four banks have agreed to plead guilty to conspiring to fix prices and rig bids in the $5.3-trillion... 

The very same people that caused the last economic crisis have created a 278 TRILLION dollar derivatives time bomb that could go off at any moment. When this absolutely colossal bubble does implode, we are going to be faced with the worst economic crash in the history of the United States. During the last financial crisis, our politicians promised us that they would make sure that “too big to fail”... 

Timothy Dean Alsip A homeless man has allegedly held up and robbed a Portland bank for $1, then sat down and waited for police to arrest him so he could receive healthcare in prison. Timothy Dean Alsip, a 50-year-old homeless man, was arrested by the Clackamas County Sheriff’s Department and thrown in jail on suspicion of second-degree robbery. Deputy Mark Nikolai, spokesman for the sheriff’s office,... 

Owners of wrongfully repossessed houses could now get up to $125,000 as ten major US banks agree to settle federal complaints. This will end a foreclosure review process begun by a 2011 enforcement action. Under the new agreement, those people who had their homes seized and then sold would get the biggest pay offs, while banks who failed to modify people’s loans in light of a change of income would... 

Major US financial services corporation Bank of America plans to slash 16,000 jobs by the end of the year as part of an extensive cost-cutting measure to make the institution more profitable. Following the planned reduction in the Bank’s workforce, the multinational US company would no longer hold its current title as the American banking industry’s largest employer, the Wall Street Journal reported... 

Like Obama, Mitt Romney is a wind-up doll for Wall Street and the bankers. There is virtually no difference between them despite all the fetid air from the GOP propaganda machine. This is revealed by a quick look at Romney’s top contributors. An Open Secrets page on top Romney contributors reads like a Who’s Who of Wall Street and the financial cartel. The top contributor is Goldman Sachs, followed... 

This story from Bloomberg just hit the wires this morning. Bank of America is shifting derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC. This means that the investment bank’s European derivatives exposure is now backstopped by U.S. taxpayers. Bank of America didn’t get regulatory approval... 

How far does the stock market have to go down before we officially call it a crash? The Dow is now downmore than 2,000 points in just the last 14 trading days. So can we now call this “The Stock Market Crash of 2011″? Today the Dow was down 519 points. Yesterday, an announcement by the Federal Reserve indicating that the Fed would keep interest rates near zero until mid-2013 helped the Dow surge...