The U.S. trade deficit got nearly four percent worse in December as a reviving economy boosted demand for imported goods. Both imports and exports hit record highs, but imports grew even more than the flow of goods exported from the United States. Friday’s report from the Commerce Department says the gap between what foreigners sell […]
Greek Unions Striking Against New Austerity Measures
Posted February 10th, 2012 at 6:05 am (UTC-5)
Union members in Greece launched a two-day general strike Friday in Athens, the capital, protesting new austerity measures needing the approval of lawmakers. European finance ministers meeting in Brussels Thursday night said even with parliament’s approval, Greece has to meet new conditions before securing a new $172 billion bailout package. The chairman of the 17 […]
China Posts Worst Import/Export Data in Two Years
Posted February 10th, 2012 at 4:50 am (UTC-5)
China’s trading activity shrank in January compared to the same period a year earlier, raising concern that weak overseas demand is taking a toll on the export-driven economy. Figures released Friday by the customs agency indicate imports sank 15.3 percent to $122.6 billion, while exports dropped 0.5 percent to $149.9 billion. It is the worst […]
Euro Zone Finance Ministers Delay Decision on Greek Bailout
Posted February 10th, 2012 at 12:40 am (UTC-5)
Greek lawmakers say they have reached an accord on austerity measures demanded by international lenders so the country can secure another bailout, but European finance ministers say the job and spending cuts are not enough. Following a Thursday night meeting in Brussels, the 17 euro zone finance chiefs added new conditions before Greece gets the […]
Greece Reaches Accord on Austerity Demands from Its Lenders
Posted February 9th, 2012 at 2:15 pm (UTC-5)
Greek lawmakers say they have reached an accord on austerity measures demanded by international lenders so the country can secure another bailout and avoid defaulting next month on its financial obligations. After an all-night negotiating session that ended early Thursday, Greek political leaders remained deadlocked on the extent of pension cuts for retirees, while agreeing […]
Greece Reaches Accord on Austerity Demands from Its Lenders
Posted February 9th, 2012 at 12:00 pm (UTC-5)
Greek lawmakers say they have reached an accord on austerity measures demanded by international lenders so the country can secure another bailout and avoid defaulting next month on its financial obligations. After an all-night negotiating session that ended early Thursday, Greek political leaders remained deadlocked on the extent of pension cuts for retirees, while agreeing […]
Greece Reaches Accord on Austerity Demands from Its Lenders
Posted February 9th, 2012 at 10:00 am (UTC-5)
Greek lawmakers say they have reached an accord on austerity measures demanded by international lenders so the country can secure another bailout and avoid defaulting next month on its financial obligations. After an all-night negotiating session that ended early Thursday, Greek political leaders remained deadlocked on the extent of pension cuts for retirees, while agreeing […]
US Job Market Improves
Posted February 9th, 2012 at 9:15 am (UTC-5)
Layoffs declined last week in the United States, a sign that problems in the job market are easing. Thursdays’ report from the labor Department says the number of people signing up for unemployment assistance fell by 15,000 last week to a nationwide total of 358,000. That means the number of layoffs fell close to a […]
Greek Party Leaders Move Closer to Deal on More Spending Cuts
Posted February 9th, 2012 at 2:15 am (UTC-5)
Talks between Greek political leaders on whether to accept the EU demand for more spending cuts broke up early Thursday with only one outstanding issue remaining. The heads of the three political parties that make up the coalition government must agree on the spending cuts before the European Union and International Monetary Fund grants another […]
China Inflation Rebounds to 4.5% in January
Posted February 9th, 2012 at 1:45 am (UTC-5)
China’s inflation rate unexpectedly accelerated in January, as consumer spending increased during the Lunar New Year holiday. The National Bureau of Statistics said Thursday that consumer prices rose by 4.5 percent from a year earlier. That was well ahead of market expectations of 4 percent. Before January, inflation had eased for five straight months after […]
