Facing a dramatic decline in support for his party due to its continued, albeit half-hearted, support for the controversial European Union, U.K. Prime Minister David Cameron finally promised British subjects a referendum on whether or not to leave the EU — in five years. However, despite the tsunami of public opposition to the union, establishment figures from around the world, including the Obama administration, are using transparent fear-mongering tactics warning Britons to stick with the embattled super state or face dire consequences.
With just two months until the next (16th) round of negotiations of the Trans-Pacific Partnership (TPP) begin in Singapore, supporters of the inaptly named “free trade agreement” are ratcheting up the number of reports favorably promoting formation of the regional trade bloc.
At a meeting last week in Cambodia chaired by President Obama, leaders from all the countries participating in the Trans-Pacific Partnership (TPP) approved a motion to set the end of 2013 as an informal deadline for the completion of the TPP in preparation for the creation of the Free Trade Area of the Asia Pacific (FTAAP).
The graveyard of American businesses is receiving another occupant. Orwigsburg, Pennsylvania-based apparel manufacturer FesslerUSA, over 100 years old, is closing its doors. The company, founded in 1900, began by producing cotton underwear, and most recently has marketed private-label fashion knitwear. Its all-American approach to business reflected the values and ingenuity that made American capitalism thrive.