Business
Ford Motor Co. shutters plant in Belgium, lays off over 4000 workers
Ford Motor Company has announced a plan to close its plant in Belgium which means that over four thousand jobs will be lost. The US
Greece public debt and deficit worse than estimated
Provisional figures released by Greece’s national statistics authority have shown the country’s deficit and public debt for 2011 are worse than estimated. According to provisional
European stock markets fall sharply amid economic crisis
Shares on European markets have dipped sharply as the EU fails to find a quick solution to its ever-increasing economic problems. The FTSEurofirst 300 index
IMF says public debt in developed countries at ‘wartime levels’
The International Monetary Fund (IMF) has warned that the public debt in developed countries stands at “wartime levels” and poses a major threat to the
Global oil prices soar amid Middle East tension
Global oil prices have soared after a three-week decline on increasing tensions in the Middle East with Brent North Sea crude exceeding $114.50 a barrel.
Leading German economic think tanks warn of recession
Germany’s leading economists have cut growth estimates for Europe’s top economy, warning that the country is in great danger and could fall into recession. Economists
S&P downgrades Sharp Corp. to junk status
Standard & Poor’s Ratings Services has lowered its credit rating on cash-strapped Japanese electronics maker Sharp Corp. to junk status due to its huge losses.
French economy sees zero growth in Q2, recession looms
France’s economy has flat lined for the third quarter running in the three months to June, amid worries that Europe’s second economy is hovering on
Italy public debt jumps to all-time high
Italy’s public debt has hit an all-time high and the annual budget deficit has been reported bigger than a year before, mainly due to the
Council tax benefit cuts hit UK poor
Low-income families in Britain are to lose hundreds of pounds a year as the coalition government plans to cut council tax benefit payments to save
