Greece’s finance chief is predicting the country will reach an agreement with its international lenders by Monday to release another segment of bailout funds so Athens can meet its financial obligations. Finance Minister Yannis Stournaras said Wednesday that “fairly large” differences remain between Greece and the European Union, the European Central Bank and the International […]
Greece Predicts it Will Reach New Funding Deal
Posted October 3rd, 2012 at 3:55 pm (UTC-5)
Leave a comment
Despite Debt Woes, Greece to Fund Formula One Track
Posted October 3rd, 2012 at 9:55 am (UTC-5)
Despite its debt crisis and deep recession, Greece says it is planning to invest in the construction of a Formula One race track. The Athens government said Wednesday it will spend more than $37 million on the project, about a third of the cost of building the track it hopes will attract Grand Prix races. […]
Study: Elderly Populations To Reach 1 Billion Within 10 Years
Posted October 2nd, 2012 at 6:40 pm (UTC-5)
A new study says the number of elderly people around the world is growing faster than any other age group, and could reach 1 billion within the next 10 years. The study, titled Aging in the Twenty-first Century: A Celebration and a Challenge, was issued this week by the United Nations Population fund. It says […]
Greek Leaders Meet Again with Lenders
Posted October 2nd, 2012 at 10:05 am (UTC-5)
Greece and its international lenders staged a new round of talks Tuesday over deeply unpopular austerity measures the creditors are demanding that the Athens government impose before they will agree to hand the country more bailout money. One government negotiator said the lenders were questioning the effectiveness of the government’s $17 billion plan. Athens needs […]
US: Bernanke Urges Congressional Support of Economy
Posted October 1st, 2012 at 2:00 pm (UTC-5)
The U.S. central bank chief is pressing Congress to control the government’s chronic deficit-ridden spending. Federal Reserve Chairman Ben Bernanke says U.S. lawmakers must soon “find ways to put the federal budget on a sustainable path, but not so abruptly as to endanger” the country’s sluggish economic recovery. He said Congress and the White House […]
France’s Hollande Calls for Increased Taxes on the Wealthy
Posted September 28th, 2012 at 12:10 pm (UTC-5)
France’s new socialist government is calling for higher taxes on the wealthy and big businesses as it attempts to cut its budget deficit and boost its stagnant economy. In his first spending proposal, French President Francois Hollande proposed $39 billion in savings, with a third of it in spending cuts and two-thirds from higher taxes. […]
With Revision, US Labor Market Expanded During Obama Term
Posted September 28th, 2012 at 9:50 am (UTC-5)
U.S. economic fortunes are still sluggish, but the government has now determined that more jobs have been added during President Barack Obama’s term in office than lost. While nearly 13 million workers are unemployed in the country, the new government figures show that since January 2009, when Mr. Obama took office, the country has added […]
EU Seeking New Sanctions in Airplane Trade Dispute
Posted September 27th, 2012 at 12:15 pm (UTC-5)
The European Union is asking the World Trade Organization for $12 billion in new trade sanctions against the United States in the long-running dispute over government aid for the world’s largest plane makers, Airbus and Boeing. The WTO at various times has found both the EU and the U.S. at fault in the dispute — […]
US Economy Grew Weakly in Second Quarter
Posted September 27th, 2012 at 11:20 am (UTC-5)
The U.S. says its economy advanced at an even slower pace than first thought in the April-to-June period. The government said Thursday that the American economy grew 1.3 percent in the second quarter, down from an earlier projection of 1.7 percent. In a separate report, it said that orders for long-lasting U.S. manufactured goods fell […]
US Consumer Confidence Surges
Posted September 25th, 2012 at 12:50 pm (UTC-5)
Two new reports are pointing to an improving U.S. economy. A research group, the Conference Board, reported Tuesday that consumer confidence in the U.S. jumped this month, reaching a seven-month high. Rising home values and stock prices may have helped boost the key barometer. Increased confidence in the U.S. economy could signal that American consumers […]
