Rupee hits new low against the dollar

The rupee fell to 62.03 per dollar, a new record low. Foreign investors have been taking their money out of Indian debt and shares amid concerns over its economy. The rupee fall occurred despite attempts to prop up the currency. The Reserve…

Consumer prices up 0.2% in July, USA

Consumer prices rose moderately in July, according to the Bureau of Labor Statistics (BLS), mainly because medical care services, cars and food saw minimal increases. However, earnings have not managed to keep pace with inflation. The July…

Cisco plans to lay off 4,000 employees

Cisco Systems Inc. has stated that it is planning to lay off five percent of its employees, translating into 4,000 people losing their jobs. Cisco made the decision to cut back its workforce after the company released disappointing revenue…

Taxing retirement income is outdated

An expert on taxation at the University of Illinois has said that while many people in the country prepare for retirement, the tax consequences of retirement income for retirees are “outdated and simply inappropriate”.  Law professor,…

Eurozone out of recession

After a record, 18 months of economic shrinkage, the Eurozone has finally come out of recession. The 17-country zone’s GDP expanded by 0.3% during the second quarter of this year. Growth was slightly more than experts had expected. The Wall…

Mexico oil monopoly about to end?

Is the 75-year-old oil monopoly in Mexico about to end? Enrique Peña Nieto, the President of Mexico, has presented Congress with a bill that would open up the oil industry. If the Bill - which aims to change articles 27 & 28 of the…