Two consecutive quarters of negative growth have officially placed Canada in a recession. This year’s first quarter saw Gross Domestic Product (GDP) fall by 0.8% and the second quarter decrease by 0.5%. The country’s last recession was during the 2008-2009 financial crisis. Drastically falling oil prices have been the biggest(…)

More than 307,000 U.S. military veterans may have died while their health care applications were stalled in a bureaucratic backlog at the Department of Veterans Affairs (VA), according to a report from the agency’s inspector general. There were a total of 800,000 records held up in total, some of which(…)

All eyes are on the Federal Reserve and chair Janet Yellen, ahead of a meeting of the central bank on September 16-17 where it may take the decision to raise interest rates for the first time since June 2006. Rates were raised to 5.25% in 2006, but soon afterwards the(…)

In a recent survey conducted by the Associated Press, top economists anticipated that economic growth over the next two years is not expected to reach the levels that were predicted earlier this year. According to the majority of economists surveyed, three important economic indicators — economic expansion, hiring, and wages(…)

California lawmakers have been trying to push through a bill that will mandate a 50% reduction in motor vehicle oil use by 2030, but industry opposition has led Senate leader and Los Angeles Democrat Kevin de León make amendments to the proposed legislation. According to the Sacramento Bee, these changes(…)

The US Department of Agriculture liquidated its last remaining grain reserves back in 2008, but with a drought in the west and grain prices rising some have suggested bringing the program back. The suggestion is that a Strategic Grain Reserve would help control costs, as well as ensuring food was(…)

China’s stock exchanges endured “Black Monday” today, setting off a series of mini-crashes all over the globe, and ultimately leaving both the U.S.’s Standard & Poor 500 (down 3.92%) and Nasdaq (3.8%) indexes in correction territory. Losing 8.5% in one day’s trading, the Chinese markets suffered their biggest drop since(…)

The Science, Space and Technology Committee has now formally requested the first congressional hearing over the Colorado mine spill, with its chairman, Lamar Smith, saying that the Environmental Protection Agency (EPA), who have accepted full responsibility, “has an obligation to be forthcoming about what went wrong.” The committee has asked(…)

Recent reports suggest that Obama may be set to finally give a decision on the Keystone XL pipeline project, but it is not the decision many are hoping for, as the President is set to veto the entire project. The decision has been dragging on for almost seven years, which(…)

For the last 30 years, the trend of “corporate inversion” has been growing, and it’s now costing the U.S. government billions of dollars every year in lost taxation. Corporate inversion is the relocation abroad of U.S. firms that have merged with a foreign partner, usually to the new partner’s country(…)