Economic Crisis

According to Statistics Canada, the economy contracted 0.5 percent in the second quarter after retreating 0.8 percent in the previous three months.

When China sneezes, the world catches a cold. Alternatively, when China devalues, the rest of the (exporting) world scrambles to not be the last (exporting) nation standing, and to do so next, before everyone else does. Case in point, at least three major emerging market nations announced they are bracing for currency war.

Gubernatorial Chief of Staff Victor Suarez said at a news conference that the island's Public Finance Corporation could not meet the payment due Saturday. "We don't have the money," he said, adding that the government still hopes to reach an agreement with creditors on renegotiating its debts.

Yellen’s testimony Wednesday before the House Financial Services Committee will come one day after that panel held a hearing in which Republicans blasted the Fed as being unaccountable.

Greece will fight to return to growth and to reclaim its lost sovereignty.

Greece's parliament has backed a government package of economic reforms aimed at ending the country's debt crisis and securing a new bailout.

In some quarters, it’s already being called China’s 1929 – the year of the most infamous stock market crash in history and the start of the economic catastrophe of the Great Depression.

BREAKING: Greek interior ministry projection says 'no' camp will get more than 61 percent of vote.