U.S. economy losses 63,000 jobs in February

"NEW YORK: The U.S. economy shed 63,000 jobs in February, the government said Friday, the fastest falloff in five years and the strongest evidence yet that the country is headed toward - or may already be in - a recession. The unexpected decline raised expectations that the...

Housing market spirals, no end in sight

Fasten your seatbelts!"NEW YORK - Nervous homeowners and economic analysts have been wondering how much worse the housing market could get. On Thursday they got an answer: Plenty. Foreclosures are at a record high. Home equity...

Indonesia negotiates return of ancient stone from Scotland

"Indonesia is negotiating the return of an ancient Javanese stone that was first taken by a British colonialist in the 1800s and is now held by a family trust in Scotland. The Sangguran stone, a column dated 928 AD and inscribed with ancient Javanese characters, was taken...

On the Hunt: Bush backer seeks $1 billion for Peru project

"On the Hunt: Bush backer seeks $1 billion for Peru project DEPARTMENT Washington Babylon BY Ken Silverstein PUBLISHED December 18, 2007 Beginning tomorrow and over the next few weeks, the World Bank and other lenders will be voting, apparently in favor, on a package worth...

Morgan Stanley Asia chairman says US heading to recession

"In an interview with Sky News in Australia, Roach said the US Federal Reserve Bank would "most assuredly" cut interest rates again soon to boost the economy, following last week's 25 basis points reduction. "The US is going into recession," he told AFP. "They (the Federal...

Gold recaptures $800 on bargain hunting; dollar eyed

""If the U.S. dollar comes under downward pressure in coming weeks, you could see the gold price spike higher. Probably quite sharply higher, back above $820 an ounce," said David Moore, a commodity analyst at the Commonwealth Bank of Australia."Although perhaps the upside...