The number of people filing for bankruptcy and unemployment benefits in this country spiked in January, according to new numbers released Tuesday, further signs that the global economic recession is turning local in Canada. The... [full story]

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Raj and Nita Godhania are drinking Nescafe in their one-bedroom apartment in Princeton, New Jersey. Valentine cards are taped to otherwise bare walls, and a stack of blue Rubbermaid boxes towers over the TV. Their daughters,... [full story]

Japan’s exports plunged by a record in February as deepening recessions in the U.S. and Europe sapped demand for the country’s cars and electronics. Overseas shipments fell 49.4 percent from a year earlier, the... [full story]

China supported Russia’s initiative to develop a new global reserve currency as an alternative to the U.S. dollar saying that such a move is necessary in today’s world. Moreover China is ready to discuss this... [full story]

Russia’s Finance Ministry is expecting another outburst of problems in the financial system. The problems are going to be connected with the credit default in the real sector of economy and with the reduction of oil... [full story]

The outbreak of the current crisis and its spillover in the world have confronted us with a long-existing but still unanswered question,i.e., what kind of international reserve currency do we need to secure global financial... [full story]

The Noise on Special Drawing Rights is getting so loud that you might as well anticipate this call for inaction will result in a displacement of the dollar for all the same reasons it was first called for and then all but... [full story]

French unions said on Friday they would keep up pressure on President Nicolas Sarkozy after up to 3 million people joined protests over the economic crisis. But the unions held off deciding on a possible new round of... [full story]

Tim Geithner has finally revealed his plan to fix the banking system and economy.  Paul Krugman, James Galbraith, and others have already trashed it. [We spoke with noted economist Galbraith this morning. In the... [full story]