France – Hundreds of petrol stations across France have run dry prompting the French Leader Nicolas Sarkozy to send in police authorities to clear blockades at the country’s fuel depots. The trouble erupted over the latest pension reforms announced by the government which has sparked anger amongst the French citizens. According to the French interior [...]
Germany – Angela Merkel, the German Chancellor has said in a speech in Potsdam that the nations previous intentions and methods of trying to incorporate multiculturalism into society have “utterly failed”. She is under the belief that the country has “kidded itself” that the system is in fact working. The most recent comments from the [...]
US – The US Federal Reserve chairman, Ben Bernanke is aiming to strengthen the economy with rounds of quantitive easing after revealing that there is a “case for further action,” when addressing the Boston regional federal reserve. Government bonds will be purchased in a strategy that will help lower the total costs of borrowing in [...]
England, UK – BAA has recorded a 7.6 percent growth for September compared to the same period last year as approximately 6.2 million passengers travelled through the terminals. Theses reports have made Heathrow the busiest airport in the world and have strengthened hopes for the revival of the currently dwindling air industry. The company have [...]
Thousands of homeowners gathered outside the Los Angeles Convention Center on Thursday with various financial documents, from pay stubs to mortgage documents, credit reports and even letters from their lenders. They came from all over with the intent of receiving better terms on their mortgages in what was promoted as a free, five-day, non-stop mortgage [...]
Europe – A co-ordinated strike has taken place across Europe amid pay and budget cuts. The streets of Brussels saw protesters and Warsaw saw approximately 5,000 people demonstrating. Major transit hubs as well as hospitals were affected during the striking. A total of 11 capitals across the continent were affected by the general strikes. “This [...]
Ireland, Europe – Fears of the Irish economy moving into a ‘double dip’ recession have been sparked after the unstable economy contracted during the second quarter of the year. When a nation’s economy gets smaller for two quarters in a row, it denotes a recession. The most recent figures have been devastating for the country [...]
UK – The Bank of England’s £200 billion ($322b) latest money-printing programme has seen pension fund deficits soar, which is inevitably going to cause a rift between trustees and shareholders. The so-called quantitive easing has seen the return on government bonds greatly reduced and is having a chaotic effect on how pension fund trustees are [...]
Brussels, Belgium – In the latest attempt to reinforce budget rules enforced by the EU, finance ministers from the Union have arranged to submit future budget plans to be reviewed by the European Commission including several other EU governments. “This is a major improvement of our economic governance architecture,” said Economic and Monetary Affairs Commissioner [...]
President Obama has launched what has been called a ‘full scale attack’ to try and save the dwindling economy. He has been pressing for lawmakers to pass an aid package for smaller businesses in the November election. “We have to do more, holding this bill hostage is directly detrimental to our economic growth. I ask [...]
The Labor Department stated that initial claims for unemployment insurance increased last week to an adjusted half a million people. The last time the figures were this high was back in November 2009. Jobless claims shot up 12,000, to 500,000, relative to the previous week. Analysts had been expecting the seasonally adjusted claims to drop, [...]
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