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UK unemployment at 15-year high as outlook darkens

November 18, 2011 at 4:26 am 0 comments

The Bank of England released new data Wednesday that showed unemployment rising to the highest rate in 15 years amidst concerns over reduced global demand, sagging confidence and growing turmoil in the eurozone. The outlook for the British economy has worsened.

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Hard for Europe to Take Criticism from U.S.

November 18, 2011 at 4:24 am 1 comment

With Europe’s debt crisis reaching epidemic proportion, the U.S. has stepped up aggressive calls for Europe to get it’s fiscal house in order. The U.S.’s advice is hard for most Europeans to swallow. But the reality is that investors, frightened over European economic pandamonium, are shifting their money to U.S. equities and treasuries.

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Cooper: Economic crisis fuels nationalism in Europe

November 18, 2011 at 4:21 am 1 comment

Cooper points out that the growing economic crisis in Europe is causing the citizens and even leadership of many countries to distance themselves from European unity and turn inward. The result he shows is a rising tide of nationalism that finds blame for economic hardship with others and causes increasing friction. All of this could change dramatically the peace enjoyed by Europeans since the end of the Cold War.

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Supercommittee on the brink

Supercommittee on the brink

November 18, 2011 at 4:17 am 1 comment

With a November 23rd deadline only one week away, doubt continues to grow that the Supercommittee will meet it’s goal of cutting $1.3 trillion in U.S. sovereign debt. Republican members of the Committee are under fire from conservatives after expressing a more flexible attitude about including tax increases. Democrats are insisting that at least half of any debt reduction come from tax increases.

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European Central Bank steps in to counter bond rout

European Central Bank steps in to counter bond rout

November 16, 2011 at 12:15 pm 1 comment

Reuters reports that The European Central Bank stepped in to slow the sell-off of euro zone government bonds Wednesday on urging by the U.S. that they act more aggressively to stem the sovereign debt contagion beginning to overwhelm Europe. Ireland, Greece, Portugal, Spain, Italy, Great Britain and now, even France, are on a growing watch list for possible default.

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Double dip recession fears as European debt crisis hits U.S. after export orders dry up

November 14, 2011 at 4:30 pm 0 comments

The tremors from Europe’s financial upheaval have reached U.S. shores, rattling consumers and companies. The consequences have been limited so far. Yet the United States and Europe are so closely linked that any slowdown across the Atlantic is felt here. U.S. makers of cars, solar panels, drugs, clothes and computer [...]

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Supercommittee debt deal increasingly looks elusive

November 14, 2011 at 4:16 pm 0 comments

WASHINGTON – With just 10 days left before a Thanksgiving deadline, members of a congressional supercommittee appear increasingly pessimistic about the odds of forging a debt-reduction deal, despite an unprecedented offer by Republicans to raise taxes. The public debate has grown more divisive since both sides laid out new offers [...]

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France Keeps a Watchful Eye on Turmoil in Italy

November 14, 2011 at 4:11 pm 0 comments

First it was Athens. Then Rome. Could Paris be next? While Italy has replaced Greece as the focus of anxiety amid Europe’s worsening debt crisis, investors are increasingly concerned about the outlook for France, whose banks are among the world’s biggest and are closely linked with their counterparts in the [...]

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With Clock Ticking, an Economist Accepts a Mandate to Rescue Italy

November 14, 2011 at 4:08 pm 0 comments

ROME — Mario Monti, a former member of the European Commission, accepted a mandate to form a new government in Italy following the forced resignation of Prime Minister Silvio Berlusconi. Mr. Monti, 68, a respected economist whose primary job will be leading Italy in repaying or refinancing nearly 200 billion [...]

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APEC Says World Faces ‘Significant’ Risks, Urges Open Trade

November 14, 2011 at 4:04 pm 0 comments

Nov. 13 (Bloomberg) — The world economy is facing “significant downside risks” stemming in part from the European debt crisis, leaders at the Asia-Pacific Economic Cooperation forum said. Growth and job creation have weakened in many countries and further trade liberalization is “essential” to boost economic expansion, the leaders said [...]

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