A leading credit-rating agency says the Chinese economy will likely see a “soft-landing” as its growth continues to slow, but warns Beijing against relying too heavily on investment to stimulate growth. Fitch Ratings said in a report Tuesday it does not foresee China’s economy slowing sharply in the upcoming period, despite official figures last week […]
Spanish Workers Protesting Austerity Measures
Posted July 16th, 2012 at 11:10 am (UTC-5)
Spanish workers are protesting in the streets against government plans to impose new austerity measures that will cut their wages. Thousands of people poured into the streets of Madrid Sunday night in a spontaneous protest sparked by calls on Internet social networking sites. A smaller group of firefighters, police and other government workers marched again […]
Spanish Workers Protesting Austerity Measures
Posted July 16th, 2012 at 10:40 am (UTC-5)
Spanish workers are protesting in the streets against government plans to impose new austerity measures that will cut their wages. Thousands of people poured into the streets of Madrid Sunday night in a spontaneous protest sparked by calls on Internet social networking sites. A smaller group of firefighters, police and other government workers marched again […]
China’s Economic Growth Slows to 3-Year Low
Posted July 13th, 2012 at 1:25 am (UTC-5)
Chinese officials say economic growth has slumped to a three-year low, dragged down by global economic uncertainties. The National Bureau of Statistics reported Friday that the economy grew by 7.6 percent in the second quarter of 2012, sharply slowing from a 9.7 percent growth rate in the same quarter of 2011. The figure was the […]
US Jobless Claims Fall to 4-Year Low
Posted July 13th, 2012 at 12:10 am (UTC-5)
The number of people signing up for U.S. unemployment financial aid dropped to a four-year low last week. The head of a company that helps match job seekers and companies that have jobs to fill says many of the companies he works with are continuing their recovery from the recession. Rich Milgram, the CEO of […]
US Jobless Claims Fall to 4-Year Low
Posted July 12th, 2012 at 12:05 pm (UTC-5)
The number of people signing up for U.S. unemployment financial aid dropped to a four-year low last week. Thursday’s report from the Labor Department shows first-time jobless claims fell 26,000 to a nationwide total of 350,000. Layoffs usually rise at this time of year as auto companies shut down for a few weeks to re-tool […]
New Signs of Europe’s Weak Economy
Posted July 12th, 2012 at 9:15 am (UTC-5)
There is new evidence of Europe’s weak economic fortunes. The value of the euro used by the 17-nation currency union fell to a two-year low against the U.S. dollar — below $1.22 in Thursday trading. Meanwhile, the jobless rate in debt-ridden Greece reached a new high in April of more than 22 percent — up […]
ADB Says Weak Export Markets Hurting Developing Asia
Posted July 12th, 2012 at 4:30 am (UTC-5)
The Asian Development Bank says the financial crisis in Europe and sluggish economic recovery in the United States are hurting growth in developing Asian countries. In a report released Thursday, the ADB says growth in Asia slowed during the first half of the year as struggles in Europe and the United States cut demand for […]
Spanish PM Unveils $80 Billion Austerity Plan
Posted July 11th, 2012 at 10:05 am (UTC-5)
Spain’s prime minister has announced a package of spending cuts and higher taxes that he says will save the country $80 billion by the end of 2014. Prime Minister Mariano Rajoy unveiled the austerity plan to lawmakers Wednesday, saying the country is at a “crucial” moment and must end its budget crisis as soon as […]
Spanish PM Unveils $80 Billion Austerity Plan
Posted July 11th, 2012 at 6:40 am (UTC-5)
Spain’s prime minister has announced a package of spending cuts and higher taxes that he says will save the country $80 billion by the end of 2014. Prime Minister Mariano Rajoy unveiled the austerity plan to lawmakers Wednesday, saying the country is at a “crucial” moment and must end its budget crisis as soon as […]
