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News Selected By World News Trust Editors

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  • CDOs May Bring Subprime-Like Bust for LBOs, Junk Debt (Caroline Salas and Darrell Hassler)

    Bond investors rattled by mounting losses in subprime U.S. mortgages say trouble is brewing in collateralized debt obligations, the same securities that fueled the boom in leveraged buyouts and cut-r ...

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  • Foreclosures May Hit 1.5 Million in U.S. Housing Bust (Bob Ivry)

    Hold on to your assets. The deepest housing decline in 16 years is about to get worse.

    Read more...
  • Ghawar Is Dead! (Matthew S. Miller)

    The Wide-Spread Use of Advanced Extraction Techniques are Killing the Mother of All Oil Fields

    Read more...
  • Mayans To 'Purify' Sacred Site In Guatamala After Bush Visit (Associated Press)

    The "spirit guides of the Mayan community" decided it would be necessary to cleanse the sacred site of "bad spirits" after Bush's visit so that their ancestors could rest in peace.

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  • PG&E Sees Power In California North Coast Waves (Glenda Anderson)

    Utility seeks approval to test Northern California waters as potential source of renewable energy

    Read more...
  • U.S. Economy: Michigan Consumer Sentiment Index Fell Last Month (Joe Richter)

    Confidence among U.S. consumers fell last month from a two-year high as fuel prices rose and employment weakened.

    Read more...
  • Herding the Mob (Annalee Newitz)

    On the Web, we let strangers tell us who to trust, what to read, and where to go. Which means your good name can be worth real money. And reputation hacking can be big business.

    Read more...
  • US's Iraq oil grab is a done deal (Pepe Escobar)

    George W. Bush and Dick Cheney might as well declare the Iraq war over and out.

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  • 'Exodus' of Iraq's ancient minorities (Patrick Cockburn)

    Iraq's minorities, some of the oldest communities in the world, are being driven from the country by a wave of violence against them.

    Read more...
  • Subprime Mortgage Risk Rises For 5th Week, Derivatives Show (Shannon D. Harrington and Jody Shenn)

    The perceived risk of owning low- rated subprime mortgage bonds surged, rising for a fifth week, as companies that lend to the riskiest borrowers continued to report losses.

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  • The housing ATM rot is just the beginning (Bill Fleckenstein)

    Lenders New Century and HSBC finally admit problems, but the bulls still don't want to see the obvious: A negative economic reaction is inevitable

    Read more...

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