• German consumer confidence sinks due to high energy prices Leading market research group GfK announced Tuesday that the mood among German consumers would continue to deteriorate at the end of the year. Researchers put a large part of the blame on rising...
• Greece’s crisis is a warning to the world
As the Greek economy lies in tatters, the government is planning savage cuts. Could this be what soon lies in store for us? Matthew Cookson reports
Greece is braced for major struggle. Its...
• Following Greece's Footsteps: S&P Cuts Spain's Outlook Standard & Poor's Ratings Services lowered its outlook on Spain to "negative," saying the country will likely see "significantly lower" gross-domestic-product growth. Its long-term ratings are one...
• Expectations: Mexico hedges against falling oil prices Mexico has taken out a $1bn insurance policy against oil prices falling next year, a clear signal that commodities producers remain wary about the threat of a double-dip recession. The world’s...
• Oh, yes, the Recovery: Greek credit rating downgraded as confidence falters European stocks tumbled on Tuesday after Greece's credit rating was downgraded. A lack of confidence in the country's fiscal policy has resulted in it having the lowest credit rating in the eurozone....
• Study: 'Cut 1 million public sector jobs to pay off Britain's debts' One million public sector jobs must be cut to pay off Britain’s huge debts, an independent study has calculated. Reform, a cross-party think-tank, said that whoever wins the next general...
• Strike in Ireland largest in 30 years (PSL) -- More than 250,000 Irish public-sector workers went on strike on Nov. 24 in what is said to be the biggest national strike in over 30 years. The work stoppage closed hospitals, schools,...
• Dubai’s collapse puts the job of 250,000 Filipino workers at risk More than 250,000 Filipinos working in Dubai might lose their job stuck with debts to repay because of the Emirate’s economic collapse, said Susan Ople, from the Blas F. Ople Policy Center, an...
• Economic crisis to consolidate the Russian financial sector The Russian stock market saw a slump in prices in late October despite encouraging macroeconomic news. Securities took a plunge from the crest reached during the crisis second wave, which swept a...
• 1,700 jobs lost as Corus steel plant is mothballed A giant steel plant is set to be mothballed in the New Year, with the loss of 1,700 jobs, it was announced today.
Corus said its site at Redcar plant on Teesside will close next month, dealing a...
• North Korea revalues currency, destroying personal savings Chaos reportedly erupted in North Korea on Tuesday after the government of Kim Jong Il revalued the country's currency, sharply restricting the amount of old bills that could be traded for new and...
• Dubai debt move 'carefully planned': top official Dubai's move to suspend payments on its Dubai World conglomerate's debt was "carefully planned" and done in full knowledge of how the markets would react, the chairman of the Supreme Fiscal Committee...
• Britain: More pension schemes will close in the coming years Many more pension schemes will close in the next five years, to both new and existing members, a report has said.
Just 23% of final-salary pension schemes in the private sector are still open to...
• Greece tests the limit of sovereign debt as it grinds towards slump Greece is disturbingly close to a debt compound spiral. It is the first developed country on either side of the Atlantic to push unfunded welfare largesse to the limits of market tolerance. Read more
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