China urged the US to enter “responsible” measures to increase market confidence in the dollar and US government debt. A Chinese currency regulator called upon US leaders amid their efforts to develop an 11th-hour deal to raise a $14.3 trillion debt ceiling for the United States before it runs out of money to cover all its bills on August 2.

The United States will inevitably default when the debt ceiling deadline on August 2 comes, noted David Murrin, chief investment officer at Emergent Asset Management. "It's inevitable that the US will default - it's essentially an empire which is overextended and in decline - and that its financial system will go with it. “The question is: does it default when it is forced to by the outside world, probably the Chinese, or does it take the option to default on its own terms in such a way that it may have a strategic advantage," he said.

Moody’s warned it would downgrade Aaa-rated US states and municipalities if the country on the whole loses its top rating or if federal funding falls significantly as part of a plan to reduce the nation's deficit. Inasmuch as most states and some municipalities rely heavily on federal funding for the operational purposes, they may appear vulnerable as the government plans to cut budget in the volatile economic environment, Moody's senior analyst Anne Van Praagh noted.

Cuba has launched its own online encyclopedia similar to Wikipedia to present the world and the history from its own point of view so that people across the globe could know not only the truth shown by developed “capitalist” countries but also the truth of underdeveloped happy communist nations. It describes its longtime ideological enemy, the United States, as "the empire of our time" and "the most powerful nation of all time."

According to a new survey Japanese users were the most connected with three-quarters of users accessing mobile media in June. The research by comScore studied mobile usage and behavior in Europe, the U.S., and Japan. Social networking had the highest reach among U.S. smartphone users, while Europeans text the most. The survey that analyzed cross-market mobile activities in Japan, the U.S., and Europe revealed significant differences among consumers by geography.

A new report from the Anti-Phishing Working Group (APWG) says that phishing criminals have increased their attacks on brands, social networks, online classifieds and online gaming. It shows that while attacks focusing on brands in online retail, auction and financial services categories decreased, the same on payment services rose by over 10% in the first quarter of 2010. Other sectors including social networking, online classifieds and online gaming industries saw an 18% growth from 13% in the fourth quarter 2009 which is over 37% increase on a quarter over quarter basis.

Thursday in Singapore, bullion flat after touching record highs for the fifth consecutive session. At the same time, silver hit a 2-½ year peak. Both metals safe-haven appeal were boosted by economic uncertainties. Spot gold was trading at $1,292.80 an ounce by 3:22 GMT, below the fresh all-time high of $1,296.1. At the same time, silver reached a 2-½ year high of $21.21 earlier in the day, before easing slightly to $21.18.

Wednesday in Singapore, the precious metal soared to a new record high as sentiment remained strong with the US Federal Reserve moving closer to providing more support to the national economy. Spot gold hit a new record of $1,290.85 an ounce today, before easing to $1,287.95 an ounce by 0457 GMT as bullish sentiment remains strong after the US Federal Reserve inched closer to providing more stimulus for the economy.

Tuesday in Singapore, precious metal remained steady after surging to a record for the third consecutive session, as investors await the outcome of a meeting of the Fed later in the day. Spot gold was little changed at $1,278.65 an ounce by 3:16 GMT, easing from the all-time high of $1,283.70 hit on Monday. US gold futures for December delivery stood at $1,280.2. Still, the longer-term prospects for gold remains bullish, given the uncertainties in the economic recovery, analysts and dealers said.

Monday in Singapore bullion flat below an all-time high hit the previous business day as weak US data fueled further uncertainty about the economic recovery, boosting metal's appeal as a safe-haven asset. Spot gold reached an all-time high of $1,282.75 an ounce on Friday on poor US data and market talk of more quantitative easing. Monday, the precious metal was trading at $1,276.25 by 00:29 GMT, little changed from the previous close.

Forecasted US economic growth for the rest of this year and next was cut again for a third month in a row by a panel of about 50 economists. Thus far, the latest Blue Chip Economic Indicators report released Thursday reflected the weaker outlook for second-half 2010 growth stemmed from lower anticipations for consumer spending, business investment and private construction.

Americans has got an additional opportunity to seek for jobs owing to a new website “mySkills myFuture” launched by the US Department of Labor, the national database of which will be updated daily.  The new site lets users view local job postings, find training and education providers. The site besides offers job descriptions, salary information and common tasks related to a new occupation.

Wednesday in Shanghai, bullion prices slid as modest growth in US consumer confidence and improved home prices eased some worries of another downturn in the US. Spot gold prices eased by 0.3% or $3.19, slipping to $1,245.80 an ounce by 2:56 GMT, easing from a two-month peak of $1,249.90 hit on Tuesday. Precious metal’s prices slid after touching a two-month high on Tuesday as investors continued to worry about the prospects of the global economy and sought refuge in the yellow metal.

As claims billionaire investor Jim Rogers, chairman of Rogers Holdings, US needs to stop printing money and take on austerity measures like the Europeans did to let the economy recover. 

As it became known, Wells Fargo has expanded its ExpressSend remittance network in Mexico through an agreement with Houston-based Transnetwork Corporation. Thus far the company is adding over 4,000 payout locations in Mexico for a total of more than 9,000 locations. These additional outlets have significantly widened Wells Fargo's remittance payout network in Mexico.