Unemployment in Greece has risen to a near-record high, even as workers prepare for a two-day general strike to protest the latest government plan to cut salaries and eliminate 30,000 civil service jobs. Greece said Tuesday that its jobless rate hit 16.5 percent in July, just a shade below the record set in May. Young […]
US Inflation Rises
Posted October 18th, 2011 at 10:05 am (UTC-5)
Rising energy and food prices drove up wholesale prices in the United States in September. Tuesday’s report from the Labor Department says prices jumped eight-tenths of a percent for the month, and were up 6.9 percent from the same month a year earlier. Some economists say the factors pushing up prices are probably temporary. Outside […]
Chinese Economy Slows in Third Quarter
Posted October 18th, 2011 at 5:25 am (UTC-5)
China’s rapid economic growth slowed slightly between July and September, due to slowdowns in Europe and the United States and inflation-fighting measures at home. The government’s statistics bureau says the nation’s economy grew at a 9.1 percent annual pace in the three months through September 30. That compares to 9.5 percent growth in the previous […]
Chinese Economy Slows in Third Quarter
Posted October 18th, 2011 at 12:55 am (UTC-5)
China’s rapid economic growth slowed slightly between July and September, due to slowdowns in Europe and the United States and inflation-fighting measures at home. The government’s statistics bureau says the nation’s economy grew at a 9.1 percent annual pace in the three months through September 30. That compares to 9.5 percent growth in the previous […]
US Industrial Production Rises
Posted October 17th, 2011 at 11:30 am (UTC-5)
U.S. industrial production grew in September, in part because of demand for autos and computers, easing fears the world’s largest economy might lurch back into recession. Monday’s report from the U.S. Federal Reserve said the output from factories, mines, and utilities incrreased two-tenths of a percent in September. Nationwide industrial production changed very little in […]
Europe Facing Crucial Week in Debt Crisis
Posted October 17th, 2011 at 9:30 am (UTC-5)
Europe is facing a crucial week in solving its two-year debt crisis, before its leaders head to a summit in Brussels on Sunday. Greek Prime Minister George Papandreou declared Monday that it is the “most critical week” for his debt-ridden country and the other 16 nations on the continent that use the euro currency. He […]
G20 Ministers Vow to Resolve Europe’s Debt Crisis
Posted October 15th, 2011 at 6:45 pm (UTC-5)
VIDEO: APExpress 4 – 10/15/2011 2:00:00 PM – AP-APTN-1730: +France G20 4 Finance ministers and central bankers from the world’s 20 biggest economies say they have agreed to take swift action to resolve Europe’s debt crisis, which is hurting global economy. After two days of deliberations in Paris, which ended Saturday, French Finance Minister Francois […]
G20 Ministers Meet to Resolve European Debt Crisis
Posted October 15th, 2011 at 9:20 am (UTC-5)
Finance ministers from the world’s 20 biggest economies are meeting in Paris to try to resolve the European debt crisis that is threatening to push world economies into another recession. The ministers are expected Saturday to consider options some leaders say could stabilize global financial markets and ease the debt of financially troubled Greece. A […]
Obama Calls Merkel on Eurozone Crisis
Posted October 14th, 2011 at 8:10 pm (UTC-5)
U.S. President Barack Obama has called German Chancellor Angela Merkel to discuss the latest developments in the eurozone crisis . The White House said that in the telephone talk Friday President Obama and Chancellor Merkel also discussed preparations for the G20 summit next month in France. U.S. officials have accused European Union leaders of not […]
US Budget Deficit Hits $1.3 Trillion
Posted October 14th, 2011 at 3:40 pm (UTC-5)
The U.S. government ran a $1.3 trillion budget deficit for the fiscal year that ended in September. It is the second-highest deficit on record and the third year in a row the gap between tax revenue and spending has been over $1 trillion. All the annual deficits added together make up the nation’s $14.8 trillion […]
