November 30, 2011
Eurozone unemployment rate rises to 10.3%
The eurozone unemployment rate rose slightly to 10.3% in October, up from a revised 10.2% in September, official figures have shown. The number of people unemployed rose by 126,000 from September to 16.3 million. The rate in Germany fell to 5.5%…
November 30, 2011
Largest project in Haiti nears reality
THE biggest international project aimed at helping Haiti rebound from the 2010 earthquake eased closer to reality at a ceremony Monday. Former US President Bill Clinton and Haitian President Michel Martelly broke ground for an ambitious US$224…
November 30, 2011
S&P downgrades credit rating of major banks
Ratings agency Standard & Poor's has downgraded the long-term credit grades of a string of major financial firms. Wall Street titans Bank of America and Goldman Sachs, along with Barclays, HSBC, and some firms in Germany and France were affected.…
November 30, 2011
EU plans new consumer watchdog for disputes
Shoppers who get into disputes with European traders should find it easier to get an out-of-court settlement in future, under new EU proposals. The European Commission proposes an EU-wide online platform for consumers to "solve contractual…
November 29, 2011
American Airlines files for Ch. 11 protection
American Airlines' parent company is seeking Chapter 11 bankruptcy protection as it seeks…
November 29, 2011
US and EU consider bilateral trade talks
US and EU leaders have said at the conclusion of a White House summit that they could launch bilateral trade talks to boost jobs and growth. They announced a joint working group to explore how to enhance the "untapped potential" of transatlantic…
November 29, 2011
Citigroup’s $285 million SEC settlement rejected
A judge rejected a proposed $285 million mortgage securities fraud settlement between Citigroup and the Securities and Exchange Commission on Monday, saying the deal was "neither fair, nor reasonable, nor adequate, nor in the public interest."…
November 29, 2011
Europe scrambles to save euro
European leaders raced yesterday to save the euro from impending collapse, as momentum gained for a radical proposal in which countries that use the common currency would cede control of a big chunk of their budgets to a central authority. In the…
November 29, 2011
China ‘keen’ to invest in West’s infrastructure
China’s sovereign wealth fund wants to invest in improving neglected US and European roads and other infrastructure to spur global growth, the fund’s chairman said in comments published yesterday. The announcement reflects a shift in strategy for…
November 29, 2011
Japan households reduce spending as unemployment rises
Japanese household spending fell while the unemployment rate rose in October, raising concerns about the country's economic recovery. Household spending fell by 0.4% from a year ago, while the jobless rate rose to 4.5% from 4.1% in the previous…