The U.S. government says that the number of workers making new claims for unemployment benefits jumped last week, largely because companies laid off employees they had hired to work during the holiday shopping season. The Labor Department said Thursday that the number of jobless workers seeking first-time assistance increased by 24,000 to 399,000. That’s the […]
US Jobless Benefit Claims Jumped Last Week
Posted January 12th, 2012 at 9:45 am (UTC-5)
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China’s Inflation Slows to 4.1 Percent
Posted January 12th, 2012 at 8:45 am (UTC-5)
New economic figures released by the Chinese government indicate inflation rose in December at its slowest pace in 15 months, setting the stage for Beijing to further ease credit restrictions to support the slowing economy. The National Bureau of Statistics said Thursday the consumer price index rose 4.1 percent in December compared to a year […]
Report: US Foreclosures Drop In 2011
Posted January 11th, 2012 at 11:30 pm (UTC-5)
The battered U.S. housing market looked a little better in 2011, but that may change soon. A company that tracks foreclosures says owners of 1.8 million properties got notices they were in some stage of the foreclosure process in 2011. That is about one-third less than the number of properties facing foreclosure the prior year. […]
US Economy on the Mend But Hiring Limited
Posted January 11th, 2012 at 3:00 pm (UTC-5)
The end of 2011 helped give the world’s largest economy a boost although not enough to make a large dent in unemployment. The U.S. central bank issued its so-called “Beige Book” report Wednesday — an anecdotal look at the overall health of the country’s economy. The Federal Reserve report said the U.S. economy “expanded at […]
EU Heightens Pressure on Hungary for Reforms
Posted January 11th, 2012 at 10:20 am (UTC-5)
The European Union is heightening its pressure on Hungary for reforms, saying that it has failed to effectively control its budget deficit and that its new constitution may be unlawful. EU economy minister Olli Rehn said Wednesday that the Budapest government has failed to permanently keep its deficit spending below the EU-mandated level of 3 […]
Economists Fear Germany on Brink of Recession
Posted January 11th, 2012 at 7:30 am (UTC-5)
Germany may be on the brink of a recession as the country’s economy contracted by 0.25 percent in the fourth quarter of 2011. Economists fear another down quarter may be in-store for the first quarter of 2012. The German statistics office announced the economic news Wednesday. Despite the fourth quarter downturn, 2011 saw overall growth […]
Italy Facing Credit Rating Cut, but Not France
Posted January 10th, 2012 at 10:10 am (UTC-5)
A major financial services company says that Italy faces a “significant chance” of having its credit rating cut soon, but that it has no plans to downgrade France’s top credit standing. Fitch Ratings said Tuesday it is confident that the 17-nation European bloc that uses the euro will not break apart. But its sovereign ratings […]
China’s Trade Growth Slows in December
Posted January 10th, 2012 at 8:25 am (UTC-5)
New trade figures released by the Chinese government indicate economic growth in the world’s second-largest economy is slowing. Monthly data released Tuesday by the Customs Bureau indicates growth rate for imports was 11.8 percent in December, about half the 22.1 percent increase in November. Exports increased 13.4 percent last month, compared to the 13.8 percent […]
China’s Trade Growth Slows in December
Posted January 10th, 2012 at 5:30 am (UTC-5)
New trade figures released by the Chinese government indicate the world’s second-largest economy is slowing. Monthly data released Tuesday by the Customs Bureau indicates growth rate for imports was 11.8 percent in December, about half the 22.1 percent increase in November. Exports increased 13.4 percent last month, compared to the 13.8 percent rise in November. […]
Merkel, Sarkozy Call for Quicker Debt Crisis Action
Posted January 9th, 2012 at 12:15 pm (UTC-5)
German Chancellor Angela Merkel and French President Nicolas Sarkozy pushed Monday to speed up Europe’s efforts to control the two-year governmental debt crisis. The German and French leaders met in Berlin, then called for a quick conclusion of European Union treaty negotiations to tighten spending controls over individual governments. Mr. Sarkozy said the new budget […]
