German Chancellor Angela Merkel says she will visit Athens next week, her first visit to debt-ridden Greece since the three-year eurozone governmental debt crisis threatened to undermine the world’s economic fortunes. Ms. Merkel has often drawn the anger of Greeks protesting in the streets against the austerity measures that she has demanded be imposed before […]
Germany’s Merkel to Visit Greece Next Week
Posted October 5th, 2012 at 2:45 pm (UTC-5)
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US Jobless Rate Dips to 7.8 Percent
Posted October 5th, 2012 at 12:15 pm (UTC-5)
The U.S. jobless rate fell to 7.8 percent in September, the first time in 44 months it had dipped below the 8-percent level. In a key government report, one month ahead of the country’s presidential election, the U.S. said Friday the country’s labor market added 114,000 jobs last month. It also revised the estimate for […]
US Jobless Rate Dips to 7.8 Percent
Posted October 5th, 2012 at 10:25 am (UTC-5)
The U.S. jobless rate fell to 7.8 percent in September, the first time in 44 months it had dipped below the 8-percent level. In a key government report, one month ahead of the country’s presidential election, the U.S. said Friday the country’s labor market added 114,000 jobs last month. It also revised the estimate for […]
US Jobless Rate Dips to 7.8 Percent
Posted October 5th, 2012 at 9:00 am (UTC-5)
The U.S. jobless rate unexpectedly fell to 7.8 percent in September, the first time in 44 months it had dipped below the 8-percent level. In a key government report a month ahead of the country’s presidential election, the U.S. said Friday the country’s labor market added 114,000 jobs last month. It also revised the estimate […]
Indian Government Pushes Ahead With Economic Reform Agenda
Posted October 4th, 2012 at 2:30 pm (UTC-5)
The Indian government has pushed ahead with a new set of economic reform proposals aimed at jump starting the country’s lagging economy. The Cabinet on Thursday approved a measure to raise the limit on foreign investment in India’s insurance sector from 26 to 49 percent. Federal ministers also agreed to allow foreign direct investment into […]
US Jobless Benefit Claims Edge Higher
Posted October 4th, 2012 at 12:30 pm (UTC-5)
First-time claims for jobless benefits edged slightly higher in the U.S. last week, signaling the country’s sluggish labor market is advancing only modestly. The government said Thursday that initial requests for unemployment compensation increased 4,000 from the previous week to 367,000, a level economists says is consistent with weak job growth. U.S. financial analysts and […]
European Central Bank Chief Praises Spain Economic Effort
Posted October 4th, 2012 at 10:55 am (UTC-5)
European Central Bank chief Mario Draghi is praising debt-ridden Spain’s efforts to control its spending even as investors fear Madrid will be forced into an international bailout. Draghi offered his assessment of the Spanish austerity program Thursday, just after the central bank’s governing council decided to keep its benchmark lending rate at a record-low three-quarters […]
Greece Predicts it Will Reach New Funding Deal
Posted October 3rd, 2012 at 3:55 pm (UTC-5)
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 […]
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. […]
ADB Lowers Growth Forecasts for Developing Asia
Posted October 3rd, 2012 at 2:00 am (UTC-5)
The Asian Development Bank has cut its growth forecasts for this year and next in developing Asia because of weakening global demand and a slowdown in the region’s two largest economies. In a report Wednesday, the ADB said emerging Asia should prepare for what it called a “prolonged period of moderate expansion,” following years of […]
