Sreenivasa Sarma

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What happens if Greece defaults on its International Monetary Fund loans?

Cash-starved Athens has resorted to extraordinary measures to avoid defaulting to the IMF. But what would be the fall-out of a disorderly default?<p>The Greek government faces the prospect of becoming the first developed nation to ever default on its international obligations.<p>After a harrowing five …

Abbas rejects Israel's partial transfer of Palestinian tax revenue

GAZA (Reuters) - Palestinian Authority President Mahmoud Abbas said on Sunday Israel had released frozen tax revenue to the Authority but that he had ordered the funds to be returned because money had been deducted to cover debts to Israeli utility companies.<p>Palestinian President Mahmoud Abbas …

Israel

Budget, economy in Wis. complicate Walker's pitch for 2016

MADISON, Wis. (AP) — Gov. Scott Walker has transformed Wisconsin politics, winning three elections in four years and signing laws that weaken unions, …

Economics

The most important chart from Friday's jobs report

The March jobs report was disappointing.<p>Payroll gains were less than expected, the unemployment rate was unchanged, and average weekly hours worked declined.<p>But despite the report disappointing to expectations, job gains are still solid and the unemployment rate for an essential part of the economy …

Jobs Report

French economy set to grow slightly despite high unemployment

New forecasts show the Eurozone's second largest economy will perk up slightly in the first six months of the year<p>France's economy, the second-largest in the eurozone, will perk up slightly in the first half of the year but unemployment is expected to stay at record highs, according to forecasts.<p>In …

Tesla says delivered record 10,030 cars in first quarter

(Reuters) - Tesla Motors Inc said it delivered a record 10,030 cars in the first quarter, a 55 percent increase compared with the number of deliveries in the first quarter of last year.<p>The logo is seen on a new all-wheel-drive version of the Tesla Model S car in Hawthorne, California October 9, …

Tesla

Greece 'confident' of paying IMF on time

"Everything that should be paid next week, the IMF (International Monetary Fund), wages, pensions, will be," said the source, speaking on condition of anonymity.<p>Greece has a deadline of April 9 to pay the IMF 460 million euros ($500 million) to meet the conditions of its loan agreement, and …

Europe

U.S. jobs growth in March slumps to 15-month low

WASHINGTON (MarketWatch) — The U.S. created the fewest new jobs in March in 15 months, a steep downshift in hiring that raises questions about …

Dockworkers union leaders back West Coast ports labor deal

A union caucus representing dockworkers at West Coast ports voted to recommend to its members a labor contract deal reached over months of …

U.S. denied redo in landmark insider trading case

A New York federal appeals court denied Manhattan U.S. Attorney Preet Bharara a second shot at arguing that two hedge fund managers convicted of insider trading in 2012 deserve to go to jail.<p>In a three-sentence document issued Friday, the U.S. 2nd Circuit Court of Appeals said it rejected Bharara's …