When Ireland finally decided this weekend to accept a bailout, the hope was that it would relieve pressure on other indebted euro-zone governments. But that hope looked naive today as investors sold off stock and bonds in Portugal and Spain, which analysts say are next in line for a bailout. Comments this morning from German Chancellor Angela Merkel — who said that Ireland’s crisis was “very worrying” and that the E.U. is in “an extraordinarily serious situation as far as the situation of the euro is concerned” — ended up spurring more sell-offs. In an op-ed, business-school professor Geoffrey Wood also sounded skeptical about the fate of the euro: If Portugal or even Spain may need a bailout, the burden on the euro zone’s economic center, Germany, will increase further. How long will it be able to bear it? And how long will it be willing to do so? At some point the markets will question the stability of the whole euro project. … [Read more...] about Is Ireland Patient X for the Next Financial Contagion?
At the beginning of each month, I check off the bills my husband and I are expecting: mortgage, water, electricity. Automobile and health insurance. Our cellphones. All normal, somewhat boring expenses. Then I get to the medical debt from my miscarriage, and I need to take deep breaths to center myself. I have survived this. I told myself this a few weeks after I lost the baby, when the bleeding finally stopped and life felt normal again. I made it through an entire day without breaking down in tears. The worst of it is over, I thought. But then the medical bills started to arrive, and I felt as if I were losing my son all over again. Last April I peered at a positive pregnancy test, filled with panic. I wanted a baby, but knowing I was actually carrying a poppy-seed-size embryo that would eventually become a tiny person was an overwhelming thought - especially as I wondered whether my husband and I could afford it. I'd heard that labor and delivery could cost thousands of dollars, … [Read more...] about The hidden financial toll of having a miscarriage
Rental electric scooters, which were banned from San Francisco in June after complaints, returned to city streets Monday. First-day anecdotes indicate the companies still have work to do when it comes to getting riders to respect the rules and others to respect the transportation mode. During morning rush hour, a team from local startup Scoot handed out free helmets and answered questions from curious riders near Embarcadero Station. But Jasmine Wallsmith, a senior marketing and events manager at Scoot, cringed as she watched one rider peel away on the sidewalk. She shouted at him, nicely, to find a bike lane, and he quickly moved into the street. He enthusiastically pumped his fist in the air. Related Stories Biz & TechBy Carolyn SaidElectric scooters returning to SF streets as part of pilot...Biz & TechBy Carolyn SaidLime’s move to squeeze SF scooter rivals pulped by courtBiz & TechBy Carolyn SaidLyft to SF mayor: Give us a chance in e-scooters On the corner … [Read more...] about Scooters are back in SF, and already people are behaving badly
Mexican authorities are investigating the former top official in the nation's war on drugs for allegedly taking millions of dollars from the Sinaloa drug cartel run by Joaquin "El Chapo" Guzman. Mexican President Andres Manuel Lopez Obrador said that two investigations will look into the conduct of Genaro Garcia Luna, the former head of the country's equivalent of the FBI. The move follows Garcia Luna's indictment in a New York court this week on charges that the cartel shipped tons of cocaine into the U.S. while enjoying his protection. Mexico's attorney general's office will investigate the alleged drug crime, while the Unidad de Inteligencia Financiera, which looks into financial crimes, will look into the flow of money, Lopez Obrador said. "We will help them in the investigation in any way we can," said Lopez Obrador during a Wednesday morning press conference. Garcia Luna, 51, served as the head of the Mexican Federal Investigation Agency from 2001 to 2005, and was Secretary of … [Read more...] about Mexico probes former top cop accused of taking El Chapo bribes
FILE - In this Nov. 25, 2019, file photo Federal Reserve Board Chair Jerome Powell addresses a round table discussion during a visit to Silver Lane Elementary School, in East Hartford, Conn. On Wednesday, Dec. 11, the Federal Reserve issues a statement and economic projections, followed by a news conference with Powell. less FILE - In this Nov. 25, 2019, file photo Federal Reserve Board Chair Jerome Powell addresses a round table discussion during a visit to Silver Lane Elementary School, in East Hartford, Conn. On Wednesday, Dec. ... more Photo: Steven Senne, AP Photo: Steven Senne, AP Image 1 of / 3 Caption Close Image 1 of 3 FILE - In this Nov. 25, 2019, file photo Federal Reserve Board Chair Jerome Powell addresses a round table discussion during a visit to Silver Lane Elementary School, … [Read more...] about Fed leaves low rates alone and foresees no moves in 2020