Unemployment across the nations which make up the eurozone moved up during February, going from January’s figure of 10.7%, to 10.8%. The rate is now at its highest point since the euro was introduced in 1999. Spain had the highest rate of unemployment during the month, with 23.6% of people being unemployed. Portugal (15% unemployed), [...]
During today’s general strike in Spain, which was organised to protest against the Spanish government’s labour market reforms, demonstrators have clashed with members of the police. The nation’s government is set to reveal measures tomorrow which have the aim of both saving billions of euros, and making it simpler for businesses to sack their workers. [...]
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Small business confidence in the United States went up to its highest point in a year during the first quarter of 2012, according to a survey released this week. More small firms are also planning to increase hiring as the American economy’s prospects have improved, the poll shows. The confidence index by Vistage International jumped [...]
The Republic of Ireland dropped back into recession during the final three months of 2011, the latest official figures have revealed. The nation’s economy shrank 0.2% between the months of October and December last year, after it contracted by 1.1% during 2011’s third quarter. Recent data from the Central Statistics Office indicated that the weak [...]
Posted in Economy, Featured Post Tags: central statistics office, Economy, final three months, global economy, Ireland, irish economy, October, Year No Comments »
The chief of the IMF (International Monetary Fund), Christine Lagarde, has said that China needs to prevent its economy from being overly dependent on investment and exports. Lagarde has also said that the Yuan, the Chinese currency, may become a global reserve currency, if the Chinese government introduced market-oriented changes. Ms Lagarde’s comments came as [...]
George Osborne, the chancellor of the UK, has announced that the tax rate for earnings above £150,000 will be cut, as part of his 2012 budget. He also said that the top rate of tax, known as the 50p tax rate, raised “next to nothing”. Osborne is also set to raise the threshold at which [...]
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Prices of oil have risen as concerns over supply overshadowed a pledge from Saudi Arabia, which came on Tuesday, that it would increase its output by a quarter if necessary. In an effort to lower worries, the Saudi Arabian oil minister, Ali al-Naimi, said on Tuesday that Saudi Arabia is “ready and willing to put [...]
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The EU (European Union) is “on the right track” to resolve its ongoing debt crisis, according to Wolfgang Schaeuble, the German Finance Minister. His comments came following talks last week with the Prime Minister of Italy Mario Monti. Schaeuble also stated that Berlin and Rome were “working together”, while he praised the reforms introduced so [...]
Posted in Economy, Featured Post Tags: debt, Economy, EU news, eurozone, eurozone debt crisis, Finance, german finance minister, greek economy, Italian economy, leader, mario monti, mr monti No Comments »
The IMF (International Monetary Fund) has agreed to contribute 28bn euros towards the 130bn euro bailout for Greece – the second for the debt-ridden nation. The organisation’s approval is the last step in finishing the long-awaited rescue fund for Greece. The IMF has also stated that it would give 1.65bn euros, of the promised 28bn [...]
China recorded its biggest trade deficit for at least a decade during February, as the level of commodity imports soared as businesses built up their supplies. The trade deficit was $31.5bn after imports went up by 39.6% from the same time last year, the nation’s customs bureau has stated. Exports meanwhile, increased by only 18.4%. [...]
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